User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday October 4, 2005 - 20:58:26 GMT
FXCM - www.dailyfx.com

Share This Story:
| | Email

Forex: Dollar Trapped in Range Trading Mode

DailyFX Fundamentals 10-04-05

· Dollar Trapped in Range Trading Mode
· Pound Shrugs Off Softer Construction PMI Survey
· BoJ Officials Suggest Possible Rate Hikes in 2006

US Dollar
With some traders out on holiday, market activity has been extremely quiet today. The dollar remained within a tight 48 pip trading range against the euro, a 38 pip range against the Japanese yen and a 50 pip range against the Swiss Franc. Only against the British pound did we see a more meaningful daily range of 110 pips. Part of the quietness has been due to the fact that nothing new has developed over the past 24 hours. Factory orders increased by a more than expected 2.5 percent in the month of August, but it was offset by downward revision to the July data. Crude oil prices continued to tick lower, which is helping the dollar remain bid. Fed officials for the most part remained hawkish with Dallas Fed President Fisher warning that inflation is at the upper end of the Fed’s “tolerance zone.” This helped to lift expectations for a rate hike once again for both November and December. Most of the majors are just a stone’s throw from the year to date highs and lows, so it doesn’t surprise us to see a bit of stalling around current levels. Tomorrow’s non-manufacturing ISM should do little to shift market momentum as the service sector is expected to outperform the manufacturing sector, which accelerated faster than expected in the month of September. The prices paid component should also see sharp gains thanks to the August / September surge in energy prices. So the only hope for some meaningful volatility at this point is Friday’s non-farm payrolls report, but even that could be taken with a grain a salt by dollar bulls. The Bureau of Labor Statistics have changed their counting methodology to try to incorporate or anticipate more of the Katrina effect but they themselves have warned that their methodology could overstate employment losses. Therefore it will be interesting to see whether this can put an end to the dollar’s impressive rally.

Euro
There were no surprises in the economic data released out of the Eurozone this morning. Producer prices increased 0.4 percent in the month of August with the unemployment rate edging higher to 8.6 percent from 8.5 percent. Politically, the brief excitement that we experienced on the back of Schroeder’s step towards conceding defeat to Merkel was quickly erased as SPD Party Leader Meuntefering clarified that Schroeder will not be stepping down. This has prompted CDU members to consider calling off coalition talks tomorrow if the SPD did not accept Merkel as the new Chancellor. Political crises seem to spreading like the common cold over in Europe as France joins Italy and Germany in having to deal with a mess in the government. Hundreds of thousands of protestors took to the streets to pressure the Prime Minister to take more active initiatives to deal with the country’s growing unemployment, lack of growth and rising standard of living. Over the past year, according to Mercer Human Resource Consulting’s survey of the world’s most expensive city, Paris shot from 17th place to 12th place. Between the two release periods (June 04 to June 05), the unemployment rate increased from 10.0 percent to 10.1 percent.

British Pound
Comparable to yesterday’s upbeat CIPS/RBS Purchasing Managers Index, today’s construction report was directly reflective of the current state in the housing sector. Slowing a bit in the month of September, according to the Chartered Institute for Purchasing and Supply, construction activity dipped slightly to 57.2. Although slightly below the 16-month high set back in August, the figure still remains indicative of a slowdown in one key sector of the economy. Additionally notable, the housing sub index component declined further to 50.2 from a previous 50.8. Just hovering above the expansionary 50 figure, the report results are well in line with previous reports including last week’s Nationwide housing report which indicated the smallest rise in more than nine years for individual housing valuations. Although the data can be considered overall bearish, there still remains an aspect that was revealed during last week’s housing release. Even though housing prices are declining, the decreases may be narrowing a bit with the biggest difference seen in consumer interest. With benchmark rates cut by 25 basis points, consumers, although still reluctant to consider spending habits, are furthering their interest in residential property. As a result, going forward, central banker policy may soon disregard the concern of consumer inactivity in reaching decisions while placing evermore interest on temporary inflationary pressures.

Japanese Yen
Inflation speculation arose again on the day with traders mildly focusing on monetary base figures for the month of September. Rising more than expected by an annualized rate of 1.7 percent, monetary growth bolstered notions that the Bank of Japan may opt to raise interest rates sooner than later. Additionally, contrary to Fukui’s statements yesterday, BOJ official Haru contributed by stating that the chances of a monetary policy shift are rising but a complete move may not occur till 2006. Although interest rates will rise, inevitably, the possibilities of a near term hike may be more fluff than fervor at this moment in time. Although equity benchmarks have returned with force and production is picking up, consumer spending and investment domestically remain considerably thin. Given that there have been some sparse indications of positive momentum, higher retail sales in the current month, there still lacks supported examples of demand. As financially conservative individuals remain wary of higher energy prices and shifts in tax legislation, wallets will remain shut for the moment. In addition, domestic investors look to be taking a liking to U.S. based assets as they offer a higher return compared to domestically dead securities. As a result, carry trade notions likely will continue in the currency pair till policy makers decide to normalize policy and raise competitive rates.

 

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 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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