Forex News Blog
Back to The Headlines
Thursday June 22, 2006 - 09:07:02 GMT
Share This Story
ACM - www.ac-markets.com
By Marc Spaelti - ACM Senior Trader
Yesterdays News and Events:
Slow trading continues in the Forex-markets, the short-term bullish trend in USDCHF has now also been broken and we expect to remain range-bound for the next few days. EURUSD rose to 1.2680 overnight, with strong resistance ahead of 1.27 intra-day traders should be inclined to sell. Markets were a lot more active in Gold, it was up $20 yesterday as its recovery from the large crash 10 days ago is well under way. Expect strong resistance at $600 to slow down the current rise, short-term players are expected to taking profit and the commodity is expected to range between $560 and $600 for a while.Minutes of the latest Bank of England interest meeting revealed another 7:1 vote in favor of leaving rates unchanged, the 1-vote opposition was in favor of a rise. While the strong increase in PPI Input bears the risk of driving inflation, wages have not risen and the BOE continues to see risks on either side. Interest rates are therefore expected to remain unchanged for now and BOE governor King enforced this view saying: â€˜We donâ€™t say where interest rates will go next because we donâ€™t know.â€™ECB Liikanen repeated hawkish comments that inflation pressure was pointing higher and that current interest-rate levels were near historic lows. The French Finance Minister Thierry Breton hit in the same curb, saying that no 2nd round effects of oil-price increases were seen as the recent rate hikes contained inflation extremely well.
Todays Key Issues:
Euroland April Industrial New Orders are due at 9amGMT, they should increase up to 3% after a 2-4% drop in March. YoY growth stands at 8% UK June Industrial Trends Index at 10am is forecast to remain low, it stood at -12 last month. US Weekly Initial Claims are believed to stand at 310k, rebounding from a strong 295k last week. The 4-week average is believed to stabilize around 310k, a level it held for large parts in March/April. US May Leading Indicators at 2pmGMT are expected to drop 0.4% after shedding 0.1% in April, YoY growth stands at 2%.
The Risk Today:
4-H EURUSD: It has developed a slightly more than 1-cent wide channel in which it can continue to trade sideways, 1.2570 â€“ 1.2685 are the boundaries today, beyond that lie key levels of 1.2470 to the downside and 1.2750 on top.
Resistance and Support:
|EURUSD ||GBPUSD ||USDJPY ||USDCHF |
|1.2750 K ||1.8610 S ||116.10 S ||1.2470 K |
|1.2710 M ||1.8530 S ||115.75 M ||1.2385 S |
|1.2685 S ||1.8480 M ||115.15 S ||1.2360 S |
|1.2650 ||1.8430 ||114.95 ||1.2350 |
|1.2610 M ||1.8410 S ||114.65 S ||1.2310 S |
|1.2570 S ||1.8385 M ||114.30 M ||1.2260 K |
|1.2550 S ||1.8350 K ||113.85 K ||1.2200 S |
|S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot |
Forex Trading News
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
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:
Register To Test Your Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 18 October 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Wed 18 Oct /ul>
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.
- POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.
- POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.
- POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.
- POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.
- POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.
- POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.
- POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.
- POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.
- POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.
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..