User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday September 24, 2007 - 21:35:49 GMT
FXCM - www.dailyfx.com

Share This Story:
| | Email

FX Research -

 

Dollar Gets No Help from Policymakers

Monday, 24 September 2007 21:26:11 GMT

Written by Kathy Lien, Chief Currency Strategist
• Dollar Gets No Help from Policymakers
• Euro: Beginning to See Weaker Economic Data
• British Pound Sees Big Intraday Reversal

Dollar Gets No Help from Policymakers
After records were broken last week, trading in the currency market has been quiet.  There were no US economic data released and the four Federal Reserve officials scheduled to speak stuck mostly to their scripted remarks at various conferences around the country.  Fed Chairman Ben Bernanke learned early in this term the consequences of being overly loose lipped which is why he spoke about nothing other than education and economic competitiveness in Washington today.   Dallas Fed President Fisher did indicate that the recent trend of inflation gives the Fed wiggle room which suggests that they could ease monetary policy further.  The stock market is lower but the US dollar is mixed.  Weakness continued against most currency pairs with the exception of the Euro, Swiss Franc and Canadian dollar whose moves have become extremely overextended.   Although commodity prices are softer today, they remain at very high levels.  We haven’t talked much about Inflation because the risk to US growth outweighed the risks to price stability.  However the falling US dollar and rising oil prices will lead to strong inflationary pressures in September and October.  As a result, we expect the 50bp interest rate cuts that are currently priced into the markets to be spread out between the October and December FOMC meetings.  Tomorrow we have the S&P Case-Shiller index of home prices, consumer confidence and existing home sales reports due for release.  You can see these numbers as soon as they are released on the DailyFX Calendar.  All of the data are expected to be weak since they represent the most vulnerable part of the US economy.  Therefore the surprise element will come in the form of stronger and not weaker data.  The US dollar could still bounce this week off of manufacturing data on Wednesday, but the overall trend is still down and the comment from Fisher today reinforces that. 

Euro: Beginning to See Weaker Economic Data
We have indicated that one of the factors that could potentially trigger a top in the Euro is weaker economic data.  On Friday, we already had service sector PMI disappoint and today, Eurozone industrial orders fell by a more than expected 4.0 percent.  This was the biggest drop in new orders in 18 months and illustrates the difficulties that the manufacturing sector is facing at the moment and a strong Euro will only make things worse for the export dependent nation.  Papers across Europe have headlines screaming about the potential damage that the skyrocketing currency will do to the region’s economy.  It will take more than PMI and industrial orders however to make a top in the Euro meaningful.  Tomorrow we have the German IFO report.  A big drop in business confidence has the significance to take the currency pair back below 1.40 but the surprise may not be big enough since the Belgian manufacturing survey only fell modestly.  Meanwhile Switzerland will also be releasing their UBS consumption index.  Swiss economic data has recently been surprising to the downside, which explains why EUR/CHF is trading at the top of its month long range. 

British Pound Sees Big Intraday Reversal
There was a big intraday reversal in the British pound today.  After hitting a high of 2.0321, the pound trended lower and hasn’t looked back.  There was no major UK economic to trigger the move.  Instead, the rally was attributed to a large merger or acquisition flow.  The business friendly policies have made the UK and the British pound big beneficiaries of cross border acquisitions.  Just last week, the London Stock Exchange sold a 48 percent interest to the Qatar Investment Authority and Borse Dubai.  UK public finances were the only piece of data released today and apparently net debt and net cash requirement hit a record high in the month of August.  This indicates that the government has had a tough time raising cash and financing.  The only piece of UK data due out tomorrow is second quarter total business investment; don’t expect it to be particularly market moving.

Carry Trades Pare Back Gains
Carry trades are having a tough time extending their past week’s gains.  Although we rarely bring technicals into this report, it is important to note that the majority of the Japanese Yen crosses have failed right at their 100-day simple moving averages.  Today, the Dow also turned around lunchtime exacerbating the pressure on the Yen crosses.  The minutes from the Bank of Japan’s monetary policy meeting last month will be released tonight along with the corporate service price index.  We do not expect any major surprises there.  If anything, the minutes should reveal a central bank that is still hawkish even though they do not have the flexibility to alter interest rates.  Japan also welcomes a new Prime Minister.  Fukuda has been chosen to be the new President of the LDP; he is a son of a former Prime Minister and is a seasoned politician. 

Canadian Dollar Stabilizes Near Parity
The Canadian dollar’s rise to parity against the US dollar was one of the biggest stories in the financial markets last week.  With no economic data due until Friday, the Canadian dollar is expected to stabilize for most of this week.  Bank of Canada Governor Dodge is scheduled to speak tomorrow.  Given the recent strength of the Canadian dollar, the odds are favoring more dovish comments from the central banker.  The economy has been stable enough for the BoC to not need to lower interest rates, but any cautionary comments could still be taking negatively by the markets.  The Australian and New Zealand dollars continued to advance after the RBA Financial Stability Review found that households and the banking sector face little financial difficulties.

daily 092407 1

daily 092407 2

daily 092407 3

daily 092407 4

 

Written by Kathy Lien, Chief Currency Strategist of DailyFX.com

 

 

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 18 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

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.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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