User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday February 8, 2006 - 21:11:20 GMT
FXCM - www.dailyfx.com

Share This Story:
| | Email

Forex: No Honeymoon Expected for Bernanke

DailyFX Fundamentals 02-08-06

By Kathy Lien, Chief Strategist of www.dailyfx.com

• No Honeymoon Expected for Bernanke
• Another Piece of Bad Data Offsets Hawkish ECB Comments
• British Pound Slides for Fourth Consecutive Day

US Dollar

A 50 pip 24 hour range in the EUR/USD is hardly something to write home about it. Against most of the majors, the US dollar gained back what it lost yesterday and then some. Even though Alan Greenspan is no longer our Fed Chairman, on a day devoid of any economic news, the market can’t help but tune into his comments. Speaking at a client conference for a Wall Street Bank, Greenspan was pretty bullish on the US economy and downplayed the possibility of a burst of the housing market bubble. Instead, Greenspan felt that any easing in house prices will be a gradual one. Such an optimistic view is sure to have helped the dollar recovery today as the greenback also benefits from another slide in oil prices. In fact, crude prices are now trading at monthly lows. Following up on the Federal Reserve, new Fed Chairman Ben Bernanke has announced that the March 28 FOMC meeting will now be a 2 day meeting. There is no need to be alarmed about the change however because Bernanke is simply giving himself more time to work with the entire monetary policy committee at their first meeting. It is quite timely then to highlight some of the comments made by Harvey Rosenblum, the Dallas Fed’s director of research and a 35 year veteran of the Federal Reserve on the “The Fed’s Changing of the Guard.” Rosenblum has worked under what now will be 4 different Federal Reserve Chairmen. He said that Bernanke’s role as a governor within the Federal reserve has given him a chance to establish himself as one of the FOMC’s “intellectual leaders.” The current committee’s experience and comfort working with him should make his transition seamless. However, even so, Bernanke is inheriting an economy that is going to be coming off a tightening cycle. Rosenblum cautions that “Whenever the Fed tightens, whatever financial fragilities there are in the economy are going to get exacerbated. Its possible Bernanke will encounter some financial vulnerabilities that were not necessarily of the Fed’s making, but the higher short-term interest rates will adversely impact some industries that are sensitive to high interest rates. At the same time, the yield curve is flat and actually has the potential to invert. An inverted yield curve has often been a precursor to a recession occurring within a year.” So in summary, he predicts that in all likelihood there will be no honeymoon period for the new Chairman.

Euro

By this time, we almost sound like a broken record as German economic data surprises to the downside once again. The country’s current account surplus decreased from EUR8.2 billion to EUR6.3 billion for the month of December. The trade balance fell from EUR13.3B to EUR9.2B. This compares to the market’s forecast for a less than EUR500 million drop in each, but a sharp rise in imports and a corresponding decline in exports caused the trade surplus to narrow more than expected. The jump in imports has primarily been due to a rise in oil prices rather than buoyant consumer demand. Taken together with the weaker industrial production, factory orders, retail PMI, unemployment and consumer spending data that we have received over the past two weeks, the weakness of the European growth continues to be a major concern. Standard and Poor’s warned today that Germany and France is teetering at the bottom of AAA group. However, they remain optimistic that the two country’s initiatives towards fixing their current problems should keep their ratings intact. Despite weaker data, the ECB continues to remain hawkish. When asked whether he thought the market’s pricing for a March rate hike and the possibility of a few more rate hikes was reasonable, ECB Council member Liebscher replied “yes.”

British Pound

After not being able to recover against the dollar yesterday, the British pound racked up losses for the fourth consecutive trading day. Since last Friday, the GBP/USD has fallen over 400 pips. Economic data released this morning was mixed. Industrial production increased a less than expected 0.2 percent while manufacturing production increased a more than expected 0.3 percent. Overall, the growth was still positive which highlights the slow and steady recovery that the UK is currently experiencing. Last evening, the consumer confidence report released by Nationwide was right in line with expectations at 98.0. The Bank of England is scheduled to announce their decision on interest rates tomorrow. Even though no changes are expected, speculation that the BoE could still lower interest rates this year in the context of improving economic data has the market treading carefully with positioning as it tries to determine what is more credible.

Japanese Yen

Yesterday the Japanese Yen, was the day’s biggest winner while today, it was the biggest loser. As we have mentioned, even though a rather respected fund advisory service forecasted an end to the Bank of Japan’s ZIRP relatively soon, we found it quite surprisingly that the market would completely discount the rhetoric of Japanese government officials so quickly, especially since they were the same ones that they have been believing so thoroughly for the past few months. The Bank of Japan is meeting to discuss monetary policy and with near certainty, they will not be making any changes to interest rates or their current account target. Data released overnight was mixed. The Eco Watchers current conditions index fell in the month of January from 55.7 to 52.1. However, the outlook or futures expectations component of the Eco Watchers “man on the street” index actually increased form 53.6 to 56.4.

 

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