User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday November 2, 2005 - 23:14:43 GMT
FXCM - www.dailyfx.com

Share This Story:
| | Email

Forex: Dollar Awaits for Direction from Greenspan

DailyFX Fundamentals 11-02-05

• Dollar Awaits for Direction from Greenspan
• Pound Shrugs Off Weaker Data
• Yen Extends Slide Following Dovish Comments from Policymakers

US Dollar

Profit taking in the dollar has led to mild weakness today. The lack of any meaningful US economic data has given some traders a good reason to reduce positions ahead of two days that will be jam packed with key data releases. Tomorrow we are first expecting the US jobless claims report which should shed some light on how well the US labor market has been performing post Katrina and give the market some talking points going into Friday’s non-farm payrolls report. Then at 10am, we will receive ISM non-manufacturing and factory orders. Given the recent trend of general activity reports, there is a very strong likelihood that these releases will be dollar positive. However the real show stealer will be Greenspan’s speech which begins at noon (EST). Although nothing new is expected to come out of his mouth, we do expect his reiteration that monetary policy is still accommodative and that inflation remains a major concern to be positive for the dollar. Therefore today’s retracement could be nothing more than that. The risks for not only Thursday’s data but also for Friday’s non-farm payrolls report is mostly to the upside for the dollar. At this point each attempt by dollar bears to push the currency lower has been met with fierce resistance. Softer oil prices are also providing a double stimulus for the dollar even though consumers will soon have to come to terms with higher energy bills. They have been cushioned by the unseasonably warmer weather, at least here in the Northeast, but once the chill spreads nationwide, that cushion could deflate.

Euro

Leaked late yesterday, Germany’s unemployment figures continue to be rather downtrodden as the headline figure remained above 11 percent for the 10th straight month. However, much to the chagrin of Euro bears, the underlying spot rose on the session as speculation surrounded near term rate hike talk. Now with inflation rearing its ugly head in the form of higher energy prices, central bankers have fed the market considerations of finally lifting its benchmark rate from the six decade low of 2 percent. Subsequently, this highlights the necessity of such an increase given the continually gloomy economic picture of the region. Granted, economic data has been on the positive side as illustrated by higher factory orders and manufacturing data. However, most of the increases could be attributed to a depreciated single currency and a boost in global foreign consumption. Additionally, the increase in prices may be simply regarded as a temporary anomaly as crude prices have spiked in recent months to add to producer prices, ultimately feeding into the consumer level. Still, the infrastructure remains weak with consumer demand and confidence relatively low, both considerably important to a healthy economy. Ultimately, the test may be in the form of holiday spending, if consumers are willing.

British Pound

Gloomy news for the United Kingdom as further suggestions of economic slowdown was released in the overnight session. First, according to the CBI October Distributive Trades Survey, retailers were continually plagued by consumer disinterest and slumping sales. Putting figures behind the pessimism, only 24 percent of retailers experienced positive sales. In fact, the data indicates that some retailers see their number of customers at the lowest level in seven years. Secondly, construction activity fell in the same month according to the Chartered Institute of Purchasing and Supply. The weakest pace of growth since May, declines were seen in the housing sector, which fell for the first month in five. However, the figures may not be as gloomy as some bears would like, ultimately prompting central bankers in considering a rate cut. Given the fact that the distributive trades survey remains pessimistic, it has rebounded from sales figures that were the weakest in its 22-year history last month. Additionally bolstering the notion for a pickup is the upcoming holiday season as consumers may be saving up to spend come December. In regards to the weak CIPS construction data, the fact of the matter remains that growth still remains founded as the figure continues for the 47th month above the 50 expansionary reference.

Japanese Yen

The yen weakened further in the session on comments by two policy makers that the central bank may not be as forthcoming with interest rate hikes as the market previously expected. Earlier in the session, Finance Minister Sadakazu Tanigaki and Chief Cabinet Secretary Shinzo Abe expressed their continued favoritism towards a zero interest rate policy. Based on the fact that deflationary conditions have not been completely rung through, Abe stated that the Bank of Japan should continue in retaining a “monetary easing policy”. As a result, the comments sparked concerns that domestic investors will continue to invest in subsequent G7 economies, passing aside their own 1.5 percent yielding yen bonds for higher rates of return. This idea is exactly the reason why it seems the Japanese yen is mimicking the price action seen late in 2004 involving the Euro. Traders will remember in particular that, although technically overextended, the currency held up lofty valuations till the onset of the New Year. The exception in this case, is that fundamentals are justifying a lower rate rather than a higher one. As a result, more emphasis will be placed on indications of rising prices as it seems the only factor in preventing a corrective valuation as foreign investment continues to pour into the region.

 

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