Forex News Blog
Back to The Headlines
Wednesday September 12, 2007 - 11:55:01 GMT
Share This Story
ACM - www.ac-markets.com
Japanese Prime Minister Abe resigns; Euro hits all-time record high
By James Brandt - ACM Advanced Currency Markets, Geneva, Switzerland
News and Events:
Trade balance figures yesterday coming out of the U.S. were weaker than expected at a deficit of $59.2billion. The slump in the US economy is being felt around the world despite the recent decline in global dependence on US growth. Patterns resulting in higher long-term interest rates in the US at such a critical stage are not in the interest of economies heavily exposed to US consumption. However, in the short term, growth concerns are having a negative impact on dollar sentiment.
European Central Bank President Trichet reiterated that no financial economy is in danger of collapsing. Furthermore, the ECB remains concerned about inflation. Trichet also said that the ECB's main role is price stability, not financial stability. In early trading this morning, the Euro hit an all-time tradable high of 1.3678 against the US dollar.
Today there is limited data with mortgage applications index due at 11h GMT.
Today's Key Issues (time in GMT):
08:30 UK Claimant Count Rate AUG
08:30 UK Jobless Claims Change AUG
08.30 UK Avg Earnings inc bonus 3M/YoY JUL
08:30 UK Avg Earnings ex bonus 3M/YoY JUL
08:30 UK ILO Unemployment Rate (3mths) JUL
08:30 UK Manu.Unit Wage Cost (3Ms/YoY) JUL
09:00 EC Euro-Zone Labour Costs (YoY) 2Q
09:00 EC Euro-Zone Ind. Prod. sa (MoM) JUL
09:00 EC Euro-Zone Ind. Prod. wda (YoY) JUL
11:00 US MBA Mortgage Applications Sep-07
The Risk Today:
EurUsd: finally reached the 100% fibonnacci level at 1.3842 and slammed right through reaching 1.3878 in early trading this morning. This has opened the door for a move to the psychological 1.40 handle. Look for major support at 1.3765.
GbpUsd is reaching for a target of 2.0398 without major obstacles. This pair will be the biggest mover of the majors. Support is found at 2.0235.
UsdJpy has clearly eyed it's previous low of 111.58 for a few days now. There continues to be heavy resistance at 115.66.
UsdChf still bearish below 1.1962, a resistance, however a key support level is 1.1816.
Resistance and Support:
|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:
Upgrade Your Trading experience. Try the Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 19 February 2018
Upgrade Your Trading. Try The Amazing Trader
GVI Trading. Potential Price Risk Scale
Mon 19 Feb 2018
AA: Major, A: High, B: Medium
00:00 CN, US- Holiday
Tue 20 Feb 2018
00:00 CN- Holiday
A 10:00 US- ZEW Survey
Wed 21 Feb 2018
00:00 CN- Holiday
A All Day flash PMIs
A 15:00 US- Existing Homes Sales
A 15:30 US- EIA Crude
AA 19:00 US- Fed Meeting Minutes
Thu 22 Feb 2018
A 09:00 DE- IFO Survey
A 09:30 GB- GDP
AA 13:30 CA- Retail Sales
A 13:30 US- Weekly Jobless
Fri 23 Feb 2018
A 10:00 EZ- Final HICP
AA 13:30 CA- CPI
John M. Bland, MBA
co-founding Partner, Global-View.com
Start trading with forex broker Markets Cube
Max McKegg's Daily Forex Trading Forecasts
Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
Request a TRIAL of Max's Forex Service.