User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday August 9, 2006 - 15:20:36 GMT
Saxo Bank - www.global-view.com/saxo_bank/

Share This Story:
| | Email

Forex Market Update

Published: Aug. 09 2006, 13:07 GMT

USD Marginally weaker in Europe, but market still indecisive

EURUSD tested 1.2900 early in Europe on no major news. We may have to look for tomorrow's US trade balance before getting a more clear trend for the remainder of the week.

MAJOR HEADLINES – PREVIOUS SESSION
• Sweden AMS unemployment rate July, out at 5.2% vs 5.3% exp.
• Norwegian Retail Sales (MoM) June, out at -1.1% vs -1.2% exp.
• Norwegian Unemployment rate (AKU) May, out at 4.6% vs 3.9% exp.
• UK Visible trade balance June, out at -6463 vs -6200 exp.
• US MBA Mortgage Applications Aug, out at 4.95 vs a prior reading of -1.2% exp.
• Canadian Housing starts July, out at 236.5k vs 225.0K expected.

From this morning:
• German Industrial Production (Jun) MoM -0.4% vs. 0.3% exp., YoY 4.6% vs. 5.3% exp.
• South African Manufacturing Prod. (Jun) MoM 1.7% vs. 2.0% prior, YoY 6.1% vs. 5.1% prior.
• US NonFarm Productivity (2Q P) 1.1% vs. 0.8% exp.
• US Unit Labor Cost (2Q P) 4.2% vs. 3.7% exp.
• Canadian Building Permits (Jun) MoM -1.4% vs. -2.0% exp.
• FOMC holds rates at 5.25%.
• US ABC Consumer Confidence (Aug) -12 vs -10 exp.
• Australian Homes Loans (Jun) 1.3% vs. 0.5% exp.
• Australian Investment Lending (Jun) 4.5% vs. 4.9% prior.
• Japan Machine Orders (Jun) MoM XX vs. 0.3% exp, YoY XX vs. 6.4% exp.

THEMES TO WATCH – UPCOMING SESSION
From this morning:
USD
Well at least yesterdays FOMC rate decision was not’t boring. As expected the FOMC held rates at 5.25% forgoing an 18th straight increase. Bernanke and gangs seem to be content that moderating growth and past tightening will push inflation lower. The accompanying statement matched the last statement very closely except for a few minor yet critical differences. The FOMC did reiterate past language indicating that "inflation risks remain" and that "the extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information." However the FED failed to mention rising unit labor costs and the tone lacked any real signal on additional tightening in the near future. Overall the statement was non-committal and neutral providing the market with little direction. So its back to watching each and every economic indicator for signals.

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.

Euro/US Dollar
EURUSD (1.2881 @ 13:07 GMT)
Wednesday: EURUSD selling-off post FOMC. As long as 1.2760 remain intact buy the dips with a tight stop for a 1.2830-40 target. look to stop reverse below 1.2760 for a test of 1.2720 and possibly 1.2660.

Resist.
1.3020
1.2932
1.2882
1.2881
1.2794
1.2756
1.2669
Support

Quoted:
09 Aug 06
13:07 GMT


British Pound/US Dollar
GBPUSD (1.9084 @ 13:06 GMT)
Tuesday, Wednesday: GBPUSD remain supported after last week’s surprise rate hike. The target remains 1.9215 for the upside as long as 1.8855 support, remain intact. Look for a break of 1.9090 to challenge 1.9150 short term. Intra-day support is 1.9025-1.8990.

Resist.
1.9314
1.9199
1.9136
1.9084
1.9021
1.8969
1.8854
Support

Quoted:
09 Aug 06
13:06 GMT


US Dollar/Japanese Yen
USDJPY (115.02 @ 13:07 GMT)
Wednesday: USDJPY continued higher in Asia and tested 115.80 resistance, but was unable to close above. The pair remain a buy on dips as long as 115.15-30 support holds. Look for a break of 115.80 today which would open up for a challenge of 116.25-40.

Resist.
116.74
115.91
115.60
115.02
114.77
114.25
113.43
Support

Quoted:
09 Aug 06
13:07 GMT

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 www.saxobank.com/analysis/disclaimer.

Saxo Bank
Saxo Bank

 

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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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