Forex News Blog
Back to The Headlines
Tuesday August 15, 2006 - 08:23:05 GMT
Share This Story
ACM - www.ac-markets.com
Dollar remains vulnerable
Yesterdays News and Events:
The week started very calm. In the absence of US data releases, most currencies traded in very narrow ranges, USDCHF remained in a 25-pip range for most of the day, EURUSD survived several attempts at the 1.2700 level, in Tokyo it briefly traded at 1.2695 before rallying to the days top at 1.2740. The preliminary estimate of Euroland GDP growth in Q2 reached 2.4%, confirming analystsâ€™ expectations that economic recovery remains on track for 2006. The UKâ€™s PPI data was a tad higher than expected, initially pushing through 1.89 to 1.8845 as investors felt that the BOE was falling behind, not hiking fast enough despite its resent rate hike.
USDJPY was sidelined, still the Dollar managed to rise through its 116.45 double-top, as EURJPY and GBPJPY continue to attract buyers. Looking at those respective medium-term charts we expect EURJPY to scratch the 150 level and then run out, GBPJPY should top out near 225.
Todays Key Issues:
UK July CPI data will be of interest in the morning, forecast look for a 0.1% drop and reduced YoY rise of 2.4%. Plenty of US data could knock around Currencies in the afternoon: July PPI data (0.3% rise vs. 0.5% June) is due at 12.30GMT together with the FEDâ€™s August Empire State Index (14 vs. 15.6 July). June TIC Flows at 1pmGMT should show an unchanged appetite by Foreign Investors to acquire US dept ($69.1Bln vs. $69.6Bln May). Finally the US August Housing Market Index will be released at 5pm, it is forecast to shed 1 point to 38.
The Risk Today:
4-H EURUSD: With 1.2695 low overnight the past three weeks rise has been corrected by 50%. 1.2700 remains strong support, the 62% level at 1.2645 is key support, while it hold we will advocate a rise. Look to buy any short-term Euro dips, a rise through 1.2745 should see us test the old support-line at 1.2810.
Daily USDCHF: Resistance at 1.2435 is substantial and while range-trading continues, odds for a new fall to 1.2300 or key 1.2260 seem to outweigh the risk of a new test of the 1.2570 key resistance.
Resistance and Support:
|EURUSD ||GBPUSD ||USDJPY ||USDCHF |
|1.2900 S ||1.9130 S ||117.35 K ||1.2565 K |
|1.2810 P ||1.9000 P ||117.00 M ||1.2470 S |
|1.2760 S ||1.8945 S ||116.75 M ||1.2435 S |
|1.2735 ||1.8905 ||116.50 ||1.2405 |
|1.2720 M ||1.8885 M ||116.35 M ||1.2365 S |
|1.2700 S ||1.8835 T ||116.00 S ||1.2300 S |
|1.2645 K ||1.8770 S ||115.50 K ||1.2260 K |
|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 11 December 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
- POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI
- POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
- POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
- POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
- POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision
- POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
- POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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..