Forex News Blog
Back to The Headlines
Wednesday January 24, 2007 - 09:53:41 GMT
Share This Story
ACM - www.ac-markets.com
Dollar slides as expectations for Euro and UK rates tightening increase.
By Jean-Claude Braha - ACM Senior Trader
Yesterdays News and Events:
The Dollar weakened against European currencies on Tuesday as robust Euro-zone data and Central Bank comments signalled interest rates will continue to rise in Europe. ECB officials remarks indicated that they need to lift rates from the current 3.5% and stronger than expected Industrial Orders boosted the Euro. EurUsd was up 0.56% at 1.3021 and EurJpy jumped 0.6% to 158.46 as investors are looking for higher yielding and continued to sell the Yen in growing carry-trades. GbpUsd was up 0.27% at 1.9821 after hitting a 14-year peak at 1.9916. Comments by Bank of Japan governor Toshihiko Fukui pushed the Dollar higher against the Yen. Fukui told in an interview that higher rates could ultimately benefit the Japanese economy but didnâ€™t remove uncertainty about whether the Central Bank would raise rates in February. UsdJpy was slightly up at 121.70, near a 4-year high 121.88, rebounding from an intraday low 121.12. GbpJpy climbed to 241.51 record high since September 1992. Dealers said the move in GbpJpy helped the GbpUsd to rise to a 14-year peak. Analysts said British interest rates seem more likely to rise; as expectations for further tightening again increased after remarks by BoE Governor King saying risks to UK inflation and growth have shifted to the upside.
Todays Key Issues:
GB Bank of England releases Minutes of 10th-11th meeting at 9:30 GMT. GB 4Q Gross Domestic Product due at 9:30 GMT is expected 0.7% unchanged (QoQ) and 2.9% vs 2.8% (YoY). US January 19th MBA Mortgage Application due at 12:00 GMT was previously -0.6%. NZD Reserve Bank of New Zealand rate decision due at 20:00 GMT is expected unchanged at 7.25%.
The Risk Today:
EurUsd rebounds from recent consolidation level and gets closer to 1.3050 resistance. Only a move above there would break the January bear trend and open the way toward 1.3130 pivot point. UsdChf holds above supports 1.2430 and 1.2400. This keeps the underlying bull trend intact, and an eventual move above the current trend high at 1.2540 would expose the 1.2585 last Nov high. GbpUsd bull trend remains intact and yesterday intraday break up 1.9850 could trigger further advance toward 1.9916 initial resistance. This would open the door for record peaks 2.0000 and 2.0100. UsdJpy bull trend looks stronger and could break very 122.15 and 122.40 (61.8% retracement of the 135.18-101.67 multi-year decline). Further JPY weakness would expose next level, measured target at 123.25 where the rise from 118 would equal the distance made in the 114.40-119.70 rise. Initial support holds 121.40 level.
Resistance and Support:
|EURUSD ||GBPUSD ||USDJPY ||USDCHF |
|1.3290 T ||2.0100 T ||123.25 K ||1.2770 T |
|1.3130 P ||2.0000 T ||122.40 S ||1.2585 M |
|1.3050 S ||1.9850 P ||122.15 S ||1.2540 S |
|1.3025 ||1.9815 ||121.80 ||1.2430 |
|1.2930 M ||1.9753 M ||121.40 T ||1.2430 K |
|1.2900 T ||1.9570 S ||119.90 T ||1.2400 M |
|1.2820 S ||1.9315 S ||118.00 P ||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."
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..