Forex News Blog
Back to The Headlines
Monday September 24, 2007 - 12:10:38 GMT
Share This Story
ACM - www.ac-markets.com
Euro hits all time high versus the US dollar; Focus on Bernanke
By James Brandt - ACM Advanced Currency Markets, Geneva, Switzerland
News and Events:
The Euro hit an all time high against the greenback today, trading at 1.4130 early this morning, continuing the dollar sell-off after the 50 basis point rate cut last week. The focus today will be on Fed Chairman Ben Bernanke‚Äôs when he speaks at 17h GMT, whether or not he will shed some more light on the reasoning behind the non-traditional 50bp cut. Investors will listen carefully for indications of inflation concerns and signs on whether the economy may dip back into a recession. For now, it seems like dollar weakness will continue across the board unless Bernanke thinks otherwise.
The Australian Central Bank gave subtle indication of a possible rate hike following the upcoming Federal Election. The market has currently priced in a 15bp hike over the next year. The downside risk for the Aussie remains high however, as growth expectations may cool.
Today's Key Issues (time in GMT):
08:30 GBP Public Finances (PSNCR) (AUG) 3.5B vs -13.1B
08:30 GBP Public Sector Net Borrowing (AUG) 6.5B vs -6.5B
09:00 EUR Industrial New Orders (MoM) (JUL) -3.0% vs 4.4%
09:00 EUR Industrial New Orders (YoY) (JUL) 10.2% vs 13.8%
13:00 USD Fed's Fisher Speaks in Dallas on Higher Education
13:30 USD Fed Holds Public Meeting on Banking Regulations
16:30 USD Fed's Evans Gives Intro Remarks at Conference
17:00 USD Bernanke Speaks on Education in Washington
23:50 JPY BoJ Monetary Policy Meeting Minutes for August
23:50 JPY Corporate Service Price Index (YoY) (AUG)
The Risk Today:
EurUsd: pushed through 1.4100 and heading higher. Target 1.4160 with heavy support from 1.4000 through 1.3963.
GbpUsd Target set at 2.0366. The pair has strong support down to 2.0081. The trend is up.
UsdJpy Support holds at 113.39 with resistance still firm at 117.13.
UsdChf Breaking 1.1679 will open the door to 1.1483. On the upside, bulls will kick in from 1.1820.
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:
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 23 October 2017
Register for the Amazing Trader
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
Potential Trading Opportunities
John M. Bland, MBA
- 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.
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..