User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday August 12, 2014 - 03:36:53 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

Morning Briefing : 12-Aug-2014 -0336 GMT

GOOD MORNING!

STOCKS
The global equity rally on Monday has been accompanied by no-events in the Bonds or Currencies and that makes the bullishness at least a little bit suspect. Stay cautious. The Indian market awaits the IIP & CPI data today.

Dow (16569.98, +0.10%) just consolidated at the higher levels in a very narrow range after the sharp rally on Friday. Further extension of the rally may face resistance from 16700-800 levels. Dax (9180.74, +1.90%) reached our target of 9200 in a single session and now the sellers may be back from 9250-9400 as the long term downtrend remains in force below 9300-400.

Nikkei (15179.88, +0.33%) is struggling near 15250-400 area as expected and that keeps the bearish risk active for this index. Shanghai (2214.84, -0.44%) consolidation in the range of 2180-2230 continues with the bullish bias fully intact. It may attempt a rally to the final long term resistance of 2260-70 after this consolidation.

Nifty (7625.95, +0.76%) is trading in the range of 7500-7800 and if it manages to break above 7700-10, may test the upper end of the range too. But keep an eye of CNX IT which, if breaks 10290, may drag the broader market down.

COMMODITIES
Gold (1306.99) is ranged for now above 1305 but has a fair possibility of coming down to 1300-1290 in the coming sessions while the resistance near 1333 still holds. Silver (19.992) is ranged in the 19.7-20.108 region. No clarity is seen unless a break on either side of this range occurs. Gold-Silver ratio (65.345) came off sharply from 65.92 and may come down further towards 64.4 in the near term.

Nymex WTI (97.81) though has bounced from support near 96 does not seem to be rising up with a force. Momentum is slow and rise may be limited for now. A sharp rise is needed towards 100-101.81 else a danger of breaking below 96 could be seen in the near term.

Brent (104.50) has fallen further testing support near current levels. If it does not rebound it may either remain in a sideways consolidation for sometime or break below 104.5 to target 100-99 levels.

Copper (3.1565) dropped sharply after hitting resistance near 3.24 yesterday. Copper may be under pressure for sometime while inflationary pressures hover around China. Near term is bullish while above 3.15, but a break below 3.15-3.10 may reverse the scenario.

FOREX
A quiet day for the currencies. Dollar gains a little against nearly all the majors.

Euro (1.3371) is weakening again and a break below 1.3370-60 will decrease the possibility of the expected rally towards 1.3450-75 considerably and increase the chances of testing 1.33 levels.

Dollar-Yen (102.30) is trading in the range of 101-and the range bound price action doesn’t look like ending anytime soon. Euro-Yen (136.78) has been trading in a downward channel for the last few days and the range now may be modified to 135.75-138.00, which may not break without any major event.

Pound (1.6774) has been making new lows as expected but now a corrective bounce to 1.68-69 levels may be not that unexpected. A failure to bounce would mean an immediate fall to 1.6740-6700 levels.

Aussie (0.9259) is wandering about the long term support zone of 0.9250-9200 again, which defines the nearly 5 month long range of 0.92-0.95. Only a break below 0.92 would reverse the medium and long term trend to bearish.

Dollar-Rupee (61.17) retraced even less than a third of the previous fall in its corrective bounce. The probability of testing 60.70-50 is still much higher. Expect 61.40-50 to act as a strong supply zone.

INTEREST RATES
The US 10-5 Yr Spread (0.81%) has risen a bit but still below the resistance of 0.85% while the 30-10 Yr Spread (0.82%) is rising towards 0.85-0.90%. This may indicate that the 10Yr (2.43%) is likely to continue its long term down trend moving down against the 5yr and the 30yr yields.

The German 2Yr (-0.01%) has again dipped into the negative against our expectation of a rise towards 0.12% before the EU CPI on Thursday (current Y/y 0.39%, expected 0.40%). However, if the yield may come into positive zone again over the coming weeks while our upper target remains at 0.12%. Keep an eye on this. Look at charts on http://www.kshitij.com/graphgallery/eursin00.shtml#sin00

The US-Japan 10Yr spread (1.92%) is still below the 1.97% levels and while the fall sustains we may see levels of 1.85% in the near term which could bring in some strength for the Japanese Yen (102.3). But also note that if the yield spread bounces from 1.90% levels, it may contribute to Yen weakness.

In India, the Indo-US 10Yr Spread (6.16%) has come off sharply from Friday’s close of 6.21%. While the resistance holds it may come down to 6.15-6.10% in the coming sessions. Watch CPI data to be released today (current 7.31%) as it may have a crucial impact on the yields.

DATA TODAY



12:00 GMT or 17:30 IST IN IIP
...Previous - 4.70 %

12:00 GMT or 17:30 IST IN CPI
...Previous - 7.31



DATA YESTERDAY
No major data release yesterday.

 

 

 

 

 

Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 21 November 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:


Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
13:30 US- Durable Goods
15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
Thu 23 Nov
US/JP- Holiday
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias


  • POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic

  • POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy


  • POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
  • POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
  • POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
  • POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release


John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog

Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105