User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday April 18, 2006 - 10:24:32 GMT
Saxo Bank -

Share This Story:
| | Email

Forex Trading Strategies

USD struggling close to final support. Are we ever going to see a real capitulation? Commodity currencies continue to blast higher.

USD weakened again yesterday despite massive foreign inflows registered with yesterday's US TICs data release for Feb.

• Friday: US March Industrial Production out at 0.6% vs. 0.5% expected and Capacity Utilization out at 81.3% vs. 81.4% expected.
• Monday: Japan Industrial Production final revision for FEbruary out at -1.2% vs. original estimate of -1.7% and Capacity Utilization at 104.4 vs. 106.1 previously.
• Monday: Japan Consumer Confidence out at 48.2 vs. 48.8 exp.
• Monday: US Empire Manufacturing for April out at 15.8 vs. 24.3 expected and 29.0 previously
• Monday: US Net Foreign Security Purchases for February out at +$86.9B vs. $60.0B expected

Market moves: USD sharply weaker yesterday, not moving much overnight. EURJPY close to recent highs and AUD strengthening on rally in metals.

The market really showed its hand yesterday as a massively positive TICs data number failed to impress and the market erased yet another attempted sell-of in EUR/USD, GBP/USD and USD/CHF rally. The market moves of late have had little to nothing to do with shifts in Fed and ECB expectations (save for the recent isolated EUR sell-off when Trichet so disappointed the market). This seems to all be indicative of a slow fading in the interest rate theme as the market is looking for a new focus. That focus may be the various countries' relative current account positions and a relative reduction in risk as higher rates are drying up liquidity in the market. CHF reigns supreme with the world's largest current account surplus as a percentage of GDP. And it is beginning to show signs of strength despite its anemic interest rates... Is there more to come there?

Still, the interest rate theme is by no means completely dead... The JPY may stay weak in the crosses as the ever-cautious officialdom in Japan once again was out in full force saying that the market is moving too fast in terms of interest rate expectations and actual moves in the longer term interest rates. With this kind of jawboning and cautiousness, together with the record highs in oil benchmarks (Japan 100% dependent on foreign oil) , there may be room for a further rally in EURJPY to new highs above 145.00. Still, the JPY focus may shift later in the week as we have a look at these bilateral talks between China and the US on currency and trade issues and the visit of Mr. Hu Jintao to the US to Washington on the 21st. So JPY shorts are not without risk...

Elsewhere, GBP is looking overpriced again in the crosses. Apparently, its ability to stay reasonably strong after bouts of weakening has to do with tremendous M&A flows. Global stock markets have been dominated by M&A activity of late, and the UK has by far the most open market in Europe, meaning that it's easier for foreign entities to takeover UK corporations than elsewhere in Europe. How long this phenomenon can continue is anyone's guess, but the fundamentals for the GBP have been a screaming sell for a long time now - so one might consider any round of GBP strengthening as an opportunity to sell - vs. CHF and/or EUR.

The commodity currencies continue to flourish and USD/CAD may be ready for another swoon and test of the recent lows if the 1.1430 support gives way.
Watch out for the US PPI today and the US Housing Starts and Building Permits number. There may be some focus on the US housing market again. The NAHB survey of new home builders and their customers' interest is showing a rapid deceleration and is close to multi-year lows. Also, later in the day we have the FOMC minutes, which could spike the market either way briefly depending on any indications. Remember also in general that the Fed may not have much of a plan at this point, as its course may be fully determined by the "incoming data" as it has indicated on several occasions. So consumption, inflation, and housing numbers (as well as - very importantly - the actual moves in oil and long term interest rates) are important for the Fed view.

Note: the support/resistance levels used in the matrix’s of this document are levels derived from yesterday high, low and close. Reference in the text to other support/resistance levels will occur.

Risk warning
Saxo Bank A/S shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information herein contained. The contents of this publication should not be construed as an express or implied promise, guarantee or implication by Saxo Bank that clients will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with the recommendations in an analysis, especially leveraged investments such as foreign exchange trading and investment in derivatives, can be very speculative and may result in losses as well as profits, in particular if the conditions mentioned in the analysis do not occur as anticipated.
Please read our full Analysis Disclosure & Disclaimer at


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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final University of Michigan

John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105