User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday March 3, 2006 - 21:39:35 GMT
FXCM - www.dailyfx.com

Share This Story:
| | Email

Forex: Five Central Banks Meeting Next Week

DailyFX Fundamentals 03-03-06

• Five Central Banks Meeting Next Week
• Dollar Looks Ahead to Trade Balance and NFP
• Mixed Data Forces Yen to Give Back Gains

US Dollar

Today was another exciting day in the currency market. First the dollar sold after the weaker consumer confidence numbers, but the rally did not extend very far as traders treaded carefully ahead of the service sector ISM number. As if the market was waiting for a reason to buy dollars, the greenback skyrocketed after the stronger ISM report. Increasing to 60.1 against expectations of a weaker acceleration to 58.0, business activity in the service sector has improved quite a bit in the month of February. However, the dollar gave back most of its gains through the rest of the US trading session as traders realized that overall, even though the non-manufacturing ISM came in strong, the rest of the data we have been seeing still suggest that the Fed is nearly done. Next week, the US calendar is fairly light, especially in the beginning of the week. On Thursday and Friday however, two very important releases are due for release - the trade balance for the month of January and non-farm payrolls for the month of February. The trade deficit is expected to increase, but given that we have had only one month of funding deficiency as measured by the Treasury International Capital report, the dollar may not react too much to the report. Payrolls on the other hand are expected to be extremely strong given the low level of jobless claims over the past few weeks. In the meantime, the market’s primary focus will be on the five central banks meeting to decide on interest rates. The Bank of England, Bank of Japan, Bank of Canada, Reserve Bank of New Zealand and Australia will all be announcing interest rate decisions. Aside from Japan and Canada, none of the other central banks are expected to make any ground breaking announcements – the UK, Australia and New Zealand are expected to leave interest rates unchanged. The Bank of Japan will most likely do the same, but after recent comments this week, some traders are expecting the central bank to possibly drop quantitative easing. The Japanese will also be releasing their monthly report, which will most likely build on their desire to start tightening monetary policy. As for Canada, they are expected to increase interest rates once again. With the Loonie trading at 14 year highs against the US dollar and oil prices rising once again, the rate hike by the Canadian central bank will only fuel more gains in the CAD. With so many major central banks meeting and the US releasing two key pieces of economic data, we are expecting a lot more volatility in the week ahead and for traders to focus even more closely on other central banks that will be tightening monetary policy this year.

Euro

Despite a brief intraday dip, the EUR/USD has held onto most of its gains from the prior day. Trichet’s relatively hawkish comments yesterday have cemented the ECB’s role as one of the next major central banks to raise rates in the second quarter. Economic data released are once again encouraging with the region’s service sector PMI rising from 57.0 to 58.2. Improvements were seen in France and Italy, but the index for Germany fell modestly from 58.1 to 57.8. Fourth quarter GDP growth remained unchanged at 0.3 percent due to weak exports and domestic consumption. However, GDP is always seen as a backward looking indicator. The ECB has already made known their belief that growth will be accelerating this year. In the week ahead, there are still a number of important Eurozone economic indicators to watch for including retail sales, German factory orders, industrial production and current account balance along with French industrial production and Italian GDP. Look for more signs of stronger growth and hawkish comments to continue to fuel gains in the Euro.

British Pound

After yesterday’s strong rally, the British pound extended its gains today thanks to a sharp rise in the service sector PMI report. The index jumped from 57.0 to 58.9, which follows yesterday’s strong construction sector PMI report. Despite the stronger data though, most of the gains are really attributed to dollar weakness rather than pound strength. Although the highlight next week is the Bank of England rate decision. The fact that the BoE is not expected to make any moves and because they do not make any comments when leave rates unchanged, the market may choose to focus more on the other pieces of data due out next week. We are expecting the BRC retail sales report, industrial production and trade balance for the month of January.

Japanese Yen

Mixed economic data released last night caused some traders to worry about when the Bank of Japan may actually be dropping their quantitative easing policy. Even though core national CPI came in stronger than expected in the month of January, growth in consumer prices in Tokyo for February was slower than expected. Household spending also took a surprisingly sharp dive while the jobless rate edged higher. The market was really looking for strength across the board and the fact that the data failed to deliver prompted a strong sell-off in the Japanese Yen. This has pushed expectations for an interest rate hike out to April instead of March. Tighter monetary policy however is inevitable, so this rally in USD/JPY could be nothing more than a retracement.

 

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