Forex News Blog
Back to The Headlines
Friday September 28, 2007 - 11:49:19 GMT
Share This Story
ACM - www.ac-markets.com
High-Yielders doing very well; US dollar index hits record low
By James Brandt - ACM Advanced Currency Markets, Geneva, Switzerland
News and Events:
High-yielding currencies which include the Australian and New Zealand dollars, Euro-Yen and Pound-Yen all posted gains while the US Dollar index hit a new low of 78.16. The market has priced in expectations of further rate cuts by the Fed by the end of 2007, as well as a possible rate hike by the European Central Bank in the medium term. Traders continue to forecast continued bad news for the dollar as the broader economy weakens. Key reports today will give the market a better view of inflation and where exactly interest rates may go in the future.
Norway posted a low unemployment figure of 1.8%, down 0.2% from August (2.0%). The announcement came in less tight than expected; however, economists indicate that 1.8% is (positively) low. The Norges Bank did add that concerns of higher inflation still remain a risk and was the reasoning behind the 25 basis point hike in interest rates on Wednesday.
Gold spot hit $739 this morning on continued demand/supply imbalances driven by seasonal jewelry demand from India and China. The precious metal is holding very strong as the dollar remains weak, crude oil holds firm, and uncertainty strangles the financial markets.
Today's Key Issues (time in GMT):
09:00 EC Euro-Zone Consumer Confidence SEP -4 vs -3
09:00 EC Euro-Zone Indust. Confidence SEP 4 vs 5
09:00 EC Business Climate Indicator SEP 1.3 vs 1.41
09:00 EC Euro-Zone CPI Estimate (YoY) SEP 2.10% vs 1.70%
09:00 IT CPI (NIC incl. tobacco) (MoM) SEP P 0.10% vs 0.20%
09:00 EC Euro-Zone Economic Confidence SEP 109 vs 110
09:00 IT CPI (NIC incl. tobacco) (YoY) SEP P 1.80% vs 1.60%
09:00 EC Euro-Zone Services Confidence SEP 19 vs 20
09:00 IT CPI - EU Harmonized (MoM) SEP P 0.70% vs -0.20%
09:00 IT CPI - EU Harmonized (YoY) SEP P 1.80% vs 1.70%
09:30 UK GfK Consumer Confidence Survey SEP -6 vs -4
12:30 US Personal Income AUG 0.40% vs 0.50%
12:30 CA Gross Domestic Product MoM JUL 0.40% vs 0.20%
12:30 US Personal Income AUG 0.40% vs 0.50%
12:30 US Personal Spending AUG 0.40% vs 0.40%
12:30 US PCE Deflator (YoY) AUG
12:30 US PCE Core (MoM) AUG 0.10% vs 0.10%
12:30 US PCE Core (YoY) AUG 1.80% vs 1.90%
13:45 US Chicago Purchasing Manager SEP 53 vs 53.8
14:00 US Construction Spending MoM AUG -0.20% vs -0.40%
14:00 US U. of Michigan Confidence SEP F 84 vs 83.8
14:00 US NAPM-Milwaukee SEP
The Risk Today:
EurUsd up trend holds firm above 1.4043. Major support at 1.3936.
GbpUsd 2.0370 is a key level for the pair. Buy the break out. Support holding firm down to 2.0000.
UsdJpy resistance holding at 116.11 and 117.13. Strong support found at 112.60.
UsdChf downtrend still intact. Initial resistance holding at 1.1772 and support at 1.1638.
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
Mon 23 July 2018
AA: Major, A: High, B: Medium
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final University of Michigan
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.