Forex News Blog
Back to The Headlines
Friday July 28, 2006 - 05:54:59 GMT
Share This Story
ACM - www.ac-markets.com
Intra-day Forex volatility is rising
By Marc Spaelti - ACM Senior Trader
Yesterdays News and Events:
The Dollar started weak on Thursday, sentiment is turning against the greenback on fears of slowing economic growth, stalling interest rate hikes and the squaring of â€˜crisis-positionsâ€™. EURUSD traded up to a 2-week high of 1.2775, Cable fared better once again achieving a 1.8675 high, highest level since early June and a step towards its medium-term target of 1.90. The Swiss Franc underperformed, unable to convincingly breech its 1-month rising support at 1.2330. In the New York session the tide turned, Jobless Claims fell to 298k, the lowest level in 6 weeks and June Durable Goods Orders rose a higher then expected 3.1%, currencies were sold and the days opening levels where bypassed fairly easily. The Dollar spike continued into the Asia session to reach lows of 1.2675 EURUSD and 1.8545 for the British Pound. The Japanese Yen very much followed the other exchanges, going for a first test of the medium-term Dollars support-line at 115.30 before returning to slightly above 116. Government Spokesman Abe, a known dove, commented the eighth straight rise in CPI, which pushed YoY price increases to just 0.6% as only one piece of information that they were monitoring before the end to deflation could be declared. In view of the recent 25bp BOJ rate hike, we believe any further rate adjustments would be done in late autumn at the earliest.
Todays Key Issues:
Swiss July KOF Leading Indicator is due at 9.30GMT, it stood at 2.5 last month, no forecast available. The US will do the 1st release of the 2nd Quarter GDP data at 12.30GMT. After a strong 5.6% increase in the first quarter, expectations are for a much slower 3%, â€˜eaten awayâ€™ by a price deflator of 3.5%. Employment costs should increase a steady 0.8%. At 13.50GMT the Final July University of Michigan Sentiment Index is forecast to remain unchanged at 83.
Resistance and Support:
|EURUSD ||GBPUSD ||USDJPY ||USDCHF |
|1.2840 K ||1.8770 S ||117.05 K ||1.2525 K |
|1.2780 S ||1.8680 S ||116.70 S ||1.2440 S |
|1.2700 P ||1.8630 M ||116.10 T ||1.2410 M |
|1.2685 ||1.8580 ||115.50 ||1.2390 |
|1.2650 S ||1.8530 T ||115.30 K ||1.2335 K |
|1.2605 T ||1.8480 K ||115.10 S ||1.2260 S |
|1.2530 K ||1.8420 S ||114.65 S ||1.2220 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."
Actionable trading levels delivered to YOUR charts in real-time.
Register To Test Your Amazing Trader
GVI Trading. Potential Price Risk Scale
Mon 10 Sep 2018
AA: Major, A: High, B: Medium
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan
John M. Bland, MBA
co-founding Partner, Global-View.com
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.
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.