User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday September 8, 2006 - 11:58:26 GMT
Mellon Bank Foreign Exchange - https://fx.mellon.com/

Share This Story:
| | Email

Forex: Mellon FX Daily - U.S. Edition

Key Points
• BoJ maintains economic/CPI recovery scenario – leaving 2006 rate hike risk in place.
• Noises from G7 expose underlying positional fragilities.
• However, basic G7 stance on global imbalances is unlikely to change too much.
• EUR-USD downside risk below 1.2700.
• Canadian employment due today.

Market Outlook

In Japan, the BoJ left both policy and its assessment of the economy unchanged and Fukui adopted a similar stance at this morning’s press conference. The message is clear – the economy is seen as continuing to expand moderately and CPI is expected to maintain a rising trend. They argued that recent CPI revisions had done little to change this view (even though implicitly this trend is now continuing from a lower base). The comments will maintain market expectations about the possibility of a further 25bp rate hike by the end of December, although some upturn in core CPI y/y rates will likely be required to trigger this. While such developments do little to overturn the broader view of the JPY being a low-yield currency, it could add to the positional pressure seen on the JPY in recent days. To this extent 147.25 could be seen on EUR-JPY before there is any stability and above 148.50 is needed to steady the shop today.

EUR-USD has also been testing the lows again in Europe this morning, although thus far support at 1.2695-1.2700 has remained intact. This has been the bottom of the range in place over the past six weeks and a break would likely spark a further wave of position liquidations.

Yesterday’s comments from G7 were pretty uncoordinated, revolving around whether recent JPY weakness would feature on next week’s agenda. Fukui added his own thoughts today by saying that he did not expect an in-depth discussion about the JPY. It is all a question of degree. After the move in EUR-JPY to fresh highs it is inevitable that some discussion will take place about this issue, although whether it goes on to command a particular mention in official G7 statements is less clear. The novel items at this meeting are a) the BoJ has just raised rates,b) Paulson is now US Treasury Secretary and c) EUR-JPY has just hit a new high, so the market will remain uncertain about whether these factors will have any impact.

What did come out of yesterday was that the issue of global imbalances would not be presented in a separate annexe, which was seen as neutralising one potential threat to the USD. However, in comments seen overnight from the US (Paulson) and China, it seems clear that imbalances will continue to get a mention in the communiqué. What also seems clear is that more stress is being put on relative growth rates as being a factor in the adjustment of these imbalances i.e. slower US growth, stronger growth elsewhere and the role that Chinese domestic demand could play in this regard. However, it is highly unlikely that G7 will suddenly jettison their previous view that exchange rate flexibility or adjustment also has a central role to play. In this regard, the basic thrust of the G7 communique may not differ too much from that seen in recent years.

Day Ahead
Canada – employment data is due and this has been erratic in recent months, raising some uncertainty about the nature of the underlying trend. The last four outcomes on total employment have been (Apr +22k, May +96.7k, Jun -4.6k, Jul -5.5k), which works out at an average +27.2k per month. The full time component (Apr +26.4k, May +150.8k, Jun -67.1k, Jul +21.6k) is more impressive with a monthly average rise of 32.9k. Overall, the solid trend looks to be intact, but after weakness in other data over the past couple months the market will be open to suggestions. USD-CAD remains stuck in its current 1.1030- 1.1150 trading range, although the upside could be pressured if oil continues to weaken and EUR-USD breaks lower.

Diary
Data/event EDT Consensus*

CA Employment (Aug) 07.00 +20k
CA Unemployment rate (Aug) 07.00 6.3%
US Consumer credit (Jul) 15.00 $7.5bn

Latest data Actual Consensus*
JP M2 plus CDs (Aug) y/y +0.5% +0.5%
JP Bank lending (Aug) y/y +1.8% +2.1%
AU Housing finance (Jul) m/m +0.9% +0.4%
AU Trade balance (Jul) -A$0.6bn -A$0.7bn
JP BoJ policy announcement 0.25% 0.25%
CH Unemployment rate (Aug, sa) 3.3% 3.3%
DE Trade balance (Jul) €13.1bn €12.7bn
DE Current account (Jul) €7.3bn €8.2bn
DE Exports (Jul) m/m +2.3% +0.6%
* Consensus unless stated

2005, Mellon Financial Corporation Note: Although obtained from sources believed by us to be reliable, Mellon Financial Corporation and its affiliates cannot guarantee the accuracy or completeness of the information upon which this report is based. This report does not purport to disclose the risks or benefits of entering into particular transactions and should not be construed as advice in any specific instance. The views in this report constitute our judgement as of this date and are subject to change without notice.
Ian Gunner 44 20 7163 5996 06.40 EDT Monday May 31 2005

 

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