Forex News Blog
Back to The Headlines
Tuesday November 13, 2007 - 14:39:35 GMT
Share This Story
ACM - www.ac-markets.com
Has the Dollar weakness taken a turn?
Has the Dollar weakness taken a turn?
News and Events:
Economic announcements due today will shed some more light on speculation that the Euro-zone economies are beginning to feel the pinch of the credit markets. U.K. CPI and GDP along with German ZEW survey results are scheduled for early this morning. The expectation is that the figures will further disappoint and send the Euro and Pound falling even more against the dollar.
Another sign of slight dollar strength was the drop in the price of Gold. The precious metal fell $40/ounce yesterday as profits were taken and long Euro and Pound trades were unwound. Silver fell $1.11/ounce or 7% of its value. Gold and Silver trade at $802 and 14.6000 in early trading this morning.
Today‚Äôs most interesting chart is the USDJPY. The pair has been a fantastic technical performer and an easy one to follow.
Today's Key Issues (time in GMT):
09:00 GDP sa and wda (QoQ) 3Q P 0.40% vs. 0.10%
09:00 GDP sa and wda (YoY) 3Q P 2.00% vs. 1.80%
09:30 CPI (MoM) OCT 0.30% vs. 0.10%
09:30 CPI (YoY) OCT 1.90% vs. 1.80%
09:30 Core CPI YOY OCT 1.70% vs. 1.50%
09:30 Retail Price Index OCT 208.6 vs. 208
09:30 RPI (MoM) OCT 0.40% vs. 0.30%
09:30 RPI (YoY) OCT 4.20% vs. 3.90%
09:30 RPI Ex Mort Int.Payments (YoY) OCT 3.00% vs. 2.80%
10:00 ZEW Survey (Econ. Sentiment) NOV -20 vs. -19
10:00 ZEW Survey (Econ. Sentiment) NOV -20 vs. -18.1
10:00 Zew Survey (Current Situation) NOV 67 vs. 70.2
10:00 Euro-Zone Ind. Prod. sa (MoM) SEP -0.40% vs. 1.20%
10:00 Euro-Zone Ind. Prod. wda (YoY) SEP 4.50% vs. 4.30%
10:00 European Commission GDP Forecasts (Table)
15:00 IBD/TIPP Economic Optimism NOV 47 vs. 47.3
19:00 Monthly Budget Statement OCT -$59.0B vs. -$49.3B
20:00 Pending Home Sales MoM SEP -2.50% vs. -6.50%
22:00 ABC Consumer Confidence Nov-11 -16 vs. -15
The Risk Today:
EurUsd bullish above 1.4542. There is still pullback risk down to 1.4340 at the trend line support. Resistance holds firm at 1.4752, the all time record high.
GbpUsd holding above trend line support (2.0464). The pair as traded to above 2.0660 early this morning and if it closes above this level, the bias remains at bullish.
UsdJpy hit and stalled at our target of 109.60. The pair has room to continue down to 108.00, a major trend line support. The pair will only be bullish at and above 113.93.
UsdChf has also halted at 1.1290, a key level support. The pair will only be bullish above 1.1629. Next minor support at 1.1190.
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 15 January 2018
Upgrade Your Trading. Try The Amazing Trader
Amazing Trader EVENT RISK Calendar:
Mon 15 Jan 2018
00:00 US- Holiday
Tue 16 Jan 2018
09:00 GB- CPI
20:00 US- Beige Book
Wed 17 Jan 2018
00:30 AU- Employment
02:00 CN- GDP
10:00 EZ- final HICP
14:15 US- Industrial Production
15:00 CA- Bank of Canada Decision
Thu 17 Jan 2018
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
16:00 US- EIA Crude
Fri 18 Jan 2018
09:30 GB- Retail Sales
15:00 US- University of Michigan (prelim) Survey
PROSPECTIVE Trading Opportunities
- POTENTIAL PRICE RISK: HIGH- Tue -- 09:30 GMT-- GB- CPI
- POTENTIAL PRICE RISK: HIGH- Wed -- 00:30 GMT-- AU- Employment
- POTENTIAL PRICE RISK: Medium- Wed -- 10:00 GMT-- EZ- Final HICP
- POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production
- POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision
John M. Bland, MBA
co-founding Partner, Global-View.com
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.