Forex News Blog
Back to The Headlines
Thursday September 13, 2007 - 12:17:49 GMT
Share This Story
ACM - www.ac-markets.com
Solid industrial data from Europe sends Euro to all-time high
By James Brandt - ACM Advanced Currency Markets, Geneva, Switzerland
News and Events:
European industrial production figures came out stronger than expected at 0.6%m/m in July, an increase from a steady June. The data, coupled with the European Central Bank's optimism on economic outlook sent the Euro to an all-time tradable high of 1.3915 in late trading yesterday. Market participants however indicate to increasing downside risk as investors may not share the same amount of positive sentiment as the ECB. Nevertheless, traders eye the 1.4000 level for the Euro in the short-term.
Although general US dollar weakness has helped the Canadian dollar, the pair approached its 30-year high as the market saw another wave of buying based on the Fed cutting rates next week, making the Canadian currency more attractive on rate differentials. The currency also rose as crude oil hit record levels at US$80 a barrel.
Gold held steady at $711/oz as general dollar weakness and market instability drove prices to new highs. With gold pulling back yesterday and this morning, it is still too early to tell whether a correction will begin, before aiming for $730, a return to the high of May 12th, 2006.
Today's Key Issues (time in GMT):
08:00 EC ECB Publishes Sep. Monthly Report
08:00 IT CPI (NIC incl. tobacco) (MoM) AUG
08:00 IT CPI (NIC incl. tobacco) (YoY) AUG
08:00 IT CPI - EU Harmonized (MoM) AUG F
08:00 IT CPI - EU Harmonized (YoY) AUG F
09:00 EC Eurozone Employment (QoQ) 2Q
09:00 EC Eurozone Employment (YoY) 2Q
12:30 CA Capacity Utilization Rate 2Q
12:30 US Initial Jobless Claims Sep-08
12:30 US Continuing Claims Sep-01
18:00 US Monthly Budget Statement AUG
The Risk Today:
EurUsd: last resistance found at 1.3968 before reaching 1.4000. Downside risk increases to 1.3765.
GbpUsd still remains firmly in its uptrend with 2.0398 as target a resistance. Support holds strong at 2.0235.
UsdJpy focuses on 112.61 and 111.61 and remains below the resistance of 115.66.
UsdChf Key support found at 1.1816, however entirely bearish under 1.1962.
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."
Actionable trading levels delivered to YOUR charts in real-time.
Register To Test Your Amazing Trader
GVI Trading. Potential Price Risk Scale
Tue 19 June 2018
AA: Major, A: High, B: Medium
A 12:30 US- House Permits/Starts
Wed 20 June 2018
A 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
Thu 21 June 2018
AA 11:00 GB- Bank of England Decision
A 12:30 US- Weekly Jobless
Fri 22 June 2018
John M. Bland, MBA
co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
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.