User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday February 13, 2007 - 16:47:26 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (13 February 2007)



The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3040 level and was supported around the $1.2955 level. Technically, today’s intraday high was right around the 76.4% retracement of the move from $1.3480 to $1.1640. The common currency moved to intraday highs after the release of U.S. December trade balance data that saw the U.S. trade gap print at –US$ 61.18, the first widening of the deficit in four months. Notably, December’s result took the 2006 trade deficit to a record –US$ 763.59 billion. Traders await the release of the Treasury international capital flows data in a couple of days to see if the U.S. financed its trade gap through international portfolio inflows. Other data released in the U.S. today saw Redbook national chain store sales fall 1.4% m/m in the first week of February. In eurozone news, EMU-12 GDP growth expanded 0.9% q/q, above estimates and at an annualized 3.3%. It was also reported that the German ZEW expectations index improved to 2.9 in February from -3.6 in January while EMU-12 industrial production gained 1.0% m/m and 4.0% y/y in December. Luxembourg finance minister Juncker predicted the EMU-13 economy will expand 2.0% to 2.3% this year. Traders await testimony from Federal Reserve Chairman Bernanke tomorrow. Euro bids are cited around the US$ 1.2925 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥121.10 level and was capped around the ¥121.95 level. Technically, today’s intraday low was right around the 50% retracement of the move from ¥122.15 to ¥119.95. Data released in Japan overnight saw the January wholesale goods price index climb 2.2% y/y, the slowest pace since December 2005, while the January consumer confidence index climbed to 48.1 from 45.9 in December, the first improvement in two months. Also, it was reported that corporate failures were off 6.0% m/m in December. European Union official Alumnia played down the yen’s value vis-à-vis the euro saying exchange rates “are no problem for the (eurozone) economy” at current levels while Luxembourg finance minister Juncker called it a “problem.” The Nikkei 225 stock index gained 0.67% to close at ¥17,621.45. Dollar bids are cited around the ¥120.55 levels. The euro weakened vis-à-vis the yen as the single currency tested bids around the ¥157.25 levels and was capped around the ¥158.10 levels. The British pound and Swiss franc came off vis-à-vis the yen as the crosses tested bids around the ¥235.40 and ¥96.80 levels, respectively. The Chinese yuan depreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.7662 in the over-the-counter market, up from CNY 7.7570. People’s Bank of China Assistant Governor Yi Gang indicated GDP growth will “definitely” exceed 8.0% this year. Yi also said PBOC has a “strong determination” to counter any spike in inflation. Data released in China today saw the January producer price index up climb 3.3% y/y.



The British pound extended recent losses vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.9400 figure after encountering selling pressure around the $1.9520 level. Technically, today’s intraday high was just below the 23.6% retracement of the move from $1.8515 to $1.9845. Data released in the U.K. today saw the January annual consumer price index print at 2.7%, down from 3.0% in December and the largest fall since January 2003. RPI inflation growth decelerated to 4.2% from 4.4% and this is important because these data are utilized in wage negotiations. Other data released today saw CML December gross mortgage lending fall 14% m/m to ₤28.6 billion. Traders await tomorrow’s quarterly Bank of England inflation report and labour market data. Cable bids are cited around the US$ 1.9340 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.6700 figure and was supported around the ₤0.6645 level.

CHF

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2440 level and was capped around the CHF 1.2535 level. Technically, today’s intraday low was just above the 61.8% retracement of the move from CHF 1.2770 to CHF 1.1875. Dealers await the release of February ZEW survey data on Thursday. Dollar offers are cited around the CHF 1.2555 level. The euro gained ground vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.6265 level while the British pound weakened vis-à-vis the Swiss franc as sterling tested bids around the CHF 2.4210 level.

A$

The Australian dollar gained significant ground vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.7770 level and was supported around the $0.7710 level. The pair retraced most of the losses it incurred after the release of Reserve Bank of Australia’s quarterly monetary policy statement. Data released in Australia today saw the January NAB business confidence index improve to 6.5 from 4.0 in December. Australian dollar bids are cited around the US$ 0.7695 level.

C$

The Canadian dollar appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 1.1675 level and was capped around the C$ 1.1765 level. Technically, today’s intraday high was right around the 23.6% retracement of the move from C$ 1.1430 to C$ 1.1875. Data released in Canada today saw the December trade deficit print at –C$ 5 billion while the deficit for 2006 as a whole was at its lowest level since 1999. U.S. dollar bids are cited around the C$ 1.1620 level.

Gold/ Silver

Gold appreciated vis-à-vis the U.S. dollar today as the yellow metal tested offers around the US$ 668.85 level and was supported around the $661.35 level. The U.S. dollar’s broad sell-off led to gold’s gains today as did repeated talk of physical demand in China and India. Silver moved higher vis-à-vis the U.S. dollar as the pair tested offers around the US$ 13.95 level and was supported around the $13.57 level.

Crude Oil

Crude oil appreciated vis-à-vis the U.S. dollar today as light, sweet NYMEX crude oil futures for March delivery tested offers around the US$ 58.80 level and were supported around the $57.27 level. The International Energy Agency lifted its 2007 demand forecast and reported oil market fundamentals seem to be tightening. The IEA is now predicting global oil consumption will increase 1.55 million barrels per day in 2007, up from the 1.39 million barrels that were forecast one month ago. OPEC is not expected to change output levels when officials convene in Vienna on 17 March.

 

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 16 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 16 Oct
01:30 CN- CPI
21:45 NZ- CPI
Tue 17 Oct
08:30 GB- CPI
09:00 DE- ZEW Survey
09:00 EZ- Final HICP
Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

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



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