User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday October 18, 2005 - 10:53:07 GMT
Mellon Bank Foreign Exchange - https://fx.mellon.com/

Share This Story:
| | Email

Forex: Mellon FX Daily - U.S. Edition

Key Points
• USD remains strong in general – building on the USD-JPY break above 115.
• Storm course shifts away from oil facilities.
• US PPI, TIC data and BoC policy decision feature today.

Market Outlook

Better news on the weather front was a supporting factor for the USD overnight (see below), although the USD-JPY blast through 115.00 at the beginning of the Asian session has been the main development. The move continued to gather pace in Europe, aided in part by Japan’s chief cabinet secretary Hosoda saying that he did not believe that JPY buying intervention was currently being considered. This is the first of the majors to break significant levels and leaves risk up to the 117.50-118.00 area in the next couple of weeks. While such a move is likely to see the JPY weak on other crosses initially, it should also aid sentiment in favour of a USD move against other currencies. The USD has been strong in general in Europe this morning. The USD index is very close to a series of key levels at 90.25 (already broken this morning), 90.45 and 90.78. There is significant upside risk above there.

The market remains on hurricane watch, with the latest forecast suggesting that the storm will reach at least low-grade hurricane status today, entering the extreme southern central Gulf of Mexico early Saturday. However, if Wilma does make it to the Gulf it is then forecast to swing east and the current advisories are that Florida residents should keep an eye on developments. This is of little comfort for Florida, but it will at least spare the areas buffeted by the previous two storms, which carry the allimportant oil facilities. To this extent the market is now more relaxed about its impact.

UK CPI data was a touch lower than expected and this was a contributory factor to GBP weakness. It marginally adds to the dovish case on the MPC. The market also seems to be concerned about the latest BoE appointment (announced yesterday), with Sir John Gieve replacing Sir Andrew Large as deputy governor in charge of financial stability (in January). It is far too early to start making judgments about what this means for interest rates, although more noteworthy perhaps is the apparent creep of the government machinery into the Bank. The two deputy governors (the other being Rachel Lomax) will both hail from the civil service.

In the Eurozone, the ZEW advanced modestly, while CPI data revealed slightly mixed news on core CPI. The ECB’s favoured measure, excluding just energy and fresh food nudged up to +1.5%, while another popular measure, which also excludes alcohol and tobacco stayed at +1.3%. Either way there seems little immediate threat on the core CPI front. The ECB’s Issing revealed in an interview that they would not be afraid to act if inflation pressures materialised, but this is merely a reiteration of the message since the last ECB meeting.

Day Ahead
US – last week’s CPI data was greeted with some relief, but the market will remain sensitive to any developments on the inflation front and PPI is due today. This will provide an update on pipeline inflation pressures, with the core measures of finished goods PPI and intermediate PPI the main focal points. The TIC portfolio data for August is also due and in recent months demand for US financial assets has held up well. In July, there was even a pick-up in buying of US equities, although this only modestly outweighed US buying of foreign equities. It will take a very bad number indeed to take the current shine off the USD.

Canada – a BoC rate hike seems likely today and this is pretty much expected by the market, but not entirely so. However, as important for the CAD will be what the BoC offers as guidance for future meetings. Overall, they are likely to reiterate their basic inclination to raise rates further, but that global demand and energy prices will be monitored closely. This should be CAD supportive, although USD-CAD will need to break below 1.1775 (yesterday’s low) and 1.1725 (minor possible trendline supporting the rally since late September) to suggest some fresh downside risk. Below 1.1683 will also be required to suggest a test of the recent low at 1.1587. This may be difficult initially with the USD currently in the ascendancy and short-term accounts still perhaps already on the short side of USD-CAD. Key on the topside is the 1.1880-1.1900 area.

Diary
Data/event EDT Consensus*

US Chain store sls (w/e Oct 15) w/w 07.45 +0.2% last
US PPI (Sep) m/m 08.30 +1.2%
US PPI core (Sep) m/m 08.30 +0.2%
CA Net portfolio balance (Aug) 08.30 -C$0.4bn last
CA Leading indicator (Sep) m/m 08.30 +0.4%
US Redbook sls (w/e Oct 15) m/m 08.55 +0.7% last
US TIC intl portfolio balance (Aug) 09.00 +$87.4bn last
CA BoC policy announcement 09.00 3.0%
US Fed’s Yellen spks on economy 14.40
US ABC consumer conf (w/e Oct 16) 17.00 -19 last

Latest data Actual Consensus*
GB RICS house price balance (Sep) -21 -22
DE PPI (Sep) y/y +4.9% +4.9%
GB CPI (Sep) y/y +2.5% +2.6%
GB CPI core (Sep) y/y +1.7% +1.8%
GB RPIX (Sep) y/y +2.7% +2.7%
GB RPI (Sep) y/y +2.5% +2.6%
EU CPI (Sep) y/y +2.6% +2.5%
EU CPI ex-energy/fresh food (Sep) y/y +1.5% +1.4%
DE ZEW expectations (Oct) 39.4 42.0
EU ZEW expectations (Oct) 34.7 31.8 last
*Consensus unless stated

2005, Mellon Financial Corporation Note: Although obtained from sources believed by us to be reliable, Mellon Financial Corporation and its affiliates cannot guarantee the accuracy or completeness of the information upon which this report is based. This report does not purport to disclose the risks or benefits of entering into particular transactions and should not be construed as advice in any specific instance. The views in this report constitute our judgement as of this date and are subject to change without notice.
Ian Gunner 44 20 7163 5996 06.40 EDT Monday May 31 2005

 

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 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

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