User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday June 29, 2015 - 05:19:15 GMT
Trade the News Staff - www.tradethenews.com/freetrial.asp?gv

Share This Story:
| | Email

TradeTheNews.com Asian Mid-session Update: Surprise "Greferendum" wreaks havoc on sentiment; PBoC cuts rates and RRR but Shanghai still plummets - Source TradeTheNews.com

- (CN) CHINA PBOC CUTS KEY RATES BY 25BPS; ALSO CUTS RRR FOR COMMERCIAL BANKS LENDING TO FARMS AND SMALL BUSINESSES BY 50BPS; CUTS EFFECTIVE JUNE 28TH - (CN) CHINA MAY INDUSTRIAL PROFITS Y/Y: 0.6% (2nd straight increase) V 2.6% PRIOR; YTD y/y: -0.8% - (JP) JAPAN MAY PRELIMINARY INDUSTRIAL PRODUCTION M/M: -2.2% (biggest decline in 3 months) V -0.8%E; Y/Y: -4.0% V -2.3%E - (JP) JAPAN MAY RETAIL SALES M/M: 1.7% V +1.0%E; RETAIL TRADE Y/Y: 3% V 2.2%E - (NZ) NEW ZEALAND Q1 WESTPAC EMPLOYMENT CONFIDENCE INDEX: 102.8 V 108.5 PRIOR ***Index Snapshot (as of 02:30 GMT)***- Nikkei225 -1.8%, S&P/ASX -2.0%, Kospi -1.5%, Shanghai Composite -1.8%, Hang Seng -1.9%, Sept S&P500 -1.4% at 2,066***Commodities/Fixed Income***- Aug gold +0.7% at $1,181/oz, Aug crude oil -1.5% at $58.77/brl, Sept copper -0.2% at $2.63/lb- (JP) BOJ offers to buy ¥400B in 5-10yr JGBs and ¥140B in JGBs outright - USD/CNY: PBoC sets yuan mid point at 6.1168 v 6.1137 prior setting; weakest yuan setting since June 15th - IEF: (US) Yield on US 10-year Treasury Note down 15bps at 2.32% ***Market Focal Points/FX***- Greek PM Tsipras blindsided European creditors and global investors by effectively staging a walkout from negotiations and declaring a Yes or No referendum for the Greek people on whether to support bailout conditions demanded by creditors. Eurogroup said that even though they were taken by surprise by the announcement, they would have still considered extending the bailout before Syriza went on to endorse a NO vote. As it is, EMU ministers declared the EFSF financial arrangement with Greece would end on June 30th, leaving Greek govt responsible for safeguarding the country's financial system. Later on Sunday, ECB also decided not to increase the cap on ELA funding for Greek banks, pulling the safety net from the system, sending Greeks to empty out the nation's ATMs, and leading to the introduction of capital controls which Athens had previously claimed it could avoid. Banks will remain closed until July 6th, bank payments and transfers abroad would be banned, ATMs will be formally closed on Monday and then operate with a €60 daily limit from Tuesday. Of note, a local press survey suggested some 57% of Greeks support a deal with European creditors and only 29% would endorse a break from creditors, though there is little clarity on whether a YES vote would require another political transition.- Extreme flight to safety was reflected across the asset classes but most notably in the currency markets. EUR/USD fell as much as 200pips below 1.0960, EUR/JPY was down as much as 450pips below 134, and USD/JPY fell as much as 170pips to 122.10. AUD and NZD were down about 60pips at their worst levels against USD - the latter hitting a 5-year high below 0.68 - before paring much of those losses. S&P futures are down 30pts or 1.4% and front-month gold was up about 1% at its highs above 1,185.- China markets remained active after another sharp selloff on Friday which had sent Shanghai Composite down nearly 20% from its peak. Over the weekend, PBoC announced a 25bp cut in interest rates and a 50bp cut in RRR to select lenders (those involved in agriculture and small business loans) - the first time both were cut since the height of GFC in late 2008. However, after opening up 2.3%, Shanghai Composite entered its midday break down 3.8%. Economist with PBoC made reassuring remarks, noting liquidity was ample. Premier Li also said economic fundamentals remain strong, but CASS offered a Q2 GDP forecast of 6.9% - down from 7% in Q1.- Nikkei225, which had seen its multi-year highs as recently as last week, is also down nearly 2% on strong JPY and overall risk aversion. Retail Sales were better than expected but Industrial Output decline was much worse than anticipated, prompting the govt to downgrade its assessment on the sector to state it is stagnating. Fin Min Aso was optimistic, noting renewed JPY rapid rise is unlikely, and BOJ's Kuroda affirmed commitment to 2% inflation target, but some of the analysts indicated the contracting manufacturing sector could plunge Japan GDP back into contraction in Q2.- Lost in the Greece and China headlines was some fairly telling commentary from Fed's Dudley - one of the FOMC's biggest doves - stating that September rate hike was still "very much in play". Dudley acknowledged that Greece uncertainty is a "wild card", but added there were signs of recovery in Europe and Japan, along with accelerating wage gains and growing household spending alleviating worries about sustainability of economic momentum in the US. Dudley concluded he would not be surprised "if we decided to lift off in September, or it wouldn't shock me if the data were a little softer and it caused us to wait."***Equities***Notable movers by sector:- Consumer discretionary: Slater & Gordon Ltd SGH.AU -24.2% (ASIC intends to raise some queries)- Financials: Legend Holdings 3396.HK +0.7? (IPO debut); Shanghai Chengtou Holding 600649.CN +10.0% (restructure plan); Evergrand Real Estate Group 3333.HK +0.9%, China Vanke 000002.CN +1.1%, Poly Real Estate Group 600048.CN +0.7%; ICBC 601398.CN -0.2%, BOC 601988.CN +0.4%, CCB 601939.CN +0.5% (PBoC cuts interest rates and RRR)- Energy: Origin Energy ORG.AU -3.8% (response to speculation with Sinopec)- Industrials: GWA Group GWA.AU -4.7% (Reaffirms FY15 guidance); Suzuki Motor Corp 7269.JP -2.6% (May Japan auto output, higher JPY); Mazda Motor Corp 7261.JP -3.4% (May Japan auto output, higher JPY)- Technology: Coolpad Group 2369.HK +1.3% (controlling shareholder to sell shares); Samsung Electronics 005930.KR -1.3% (Q2 result speculation)- Materials: China Coal Energy 1898.HK -1.7% (H1 profit warning); China Polymetallic Mining 2133.HK +14.1% (acquisition)- SourceTradeTheNews.com

 

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