User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 13, 2014 - 03:29:25 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 13-May-2014 -0328 GMT


Further rise was seen in Equities overnight. The overall outlook remains bullish and higher levels are possible.

The Dow (16695.47) has broken above previous resistance near 16675 and Dax (9702.46) looks set to break its corresponding resistance today to test 9800.

The Nikkei (14,384.24, +234.72, +1.66%) has seen a huge gap-up opening reducing its immediate bearishness, and can rise a bit more. Still, it remains in an overall downtrend while below 14650. The Shanghai (2054.85) had seen a good rise yesterday and is on course to move up towards 2075-2100.

The Nifty (7014.25) may well continue its vertical rise and go on to test 7100 this week.

Gold, Silver and Copper have risen yesterday on Dollar weakness and on China’s economic reformation while the Oil market also rose amidst Ukraine tensions.

Gold (1295.65) came off slightly from 1299.5. While the crucial resistance zone of 1315-1317 holds, it may consolidate in the 1280-1310 regions for a few more sessions. Silver (19.515) continues to trade below crucial 19.66 levels and unless a break above 19.66, we do not see any signal of rise in the prices. Overall near term looks bearish.

Copper (3.1400) shot up to 3.15 levels as China unveiled steps to reform its economy on Friday. If this sustains there could be a possibility of a rise to 3.20-3.25 levels in the near term but we cannot negate a fall to 3.10 just now. Need to wait and watch for a couple of sessions.

WTI (100.51) has paused after rising to 101.17-100.9 levels and while that holds, it may consolidate a little within 100-101 regions. An initial fall towards 99 could be seen before a fresh rise else a break above 101.17 is required to rise further towards 102-103.

Brent (108.46) is rising higher since the last few sessions but while below 109.16 we may again see a fall to 108-107.5 levels. However if it breaks 109.16, it may target 110 in the coming sessions. Overall it is in a sideways consolidation since Nov’13.

Importantly, Dollar-Yen (102.23) has risen above 102.10, but needs to break above 102.30 today in order to rise further. The Euro-Yen (140.61) has risen as hoped for, but may find some Resistance near 141.00 today. The Euro (1.3754) consolidated sideways yesterday and could test the very important Support at 1.3735 today, especially if the Euro-Yen comes into some selling. Although the stage is set for further Euro weakness in the weeks ahead, it needs to break below 1.3735 in order to decline towards 1.3600.

The Pound (1.6875) is getting Support at 1.6845 and as such the chances of a fall towards 1.6700 are lesser. But, given that there is Resistance at 1.6900, it may range between 1.6800-6900 this week.

The Aussie (0.9354) is not being able to rise above 0.9400 immediately, but it remains stronger than the rest of the currencies. Support is seen at 0.9305 also, well above the 0.9260 Support mentioned yesterday.

Dollar-Rupee (60.0550) could rise further towards 60.20-30 if the RBI comes in to buy again in the morning itself. Else, it could lose some of the advantage it created for itself when it pulled the market up above 60.00 in the last hour of trade yesterday.

The US yields continue to rise slowly and steadily as the supports keep on holding. The 5, 10 and 30Yr can target 1.75%, 2.75% and 3.75% respectively. Even the US yield spreads are up. The 30-10Yr spread at 0.84% and 30-5Yr spread at 1.83%. The US yield curve can now steepen in the coming months.

The Euro (1.3756) remained stable and is testing support near 1.37. But the German – US 2Yr differential (-0.26%) has seen a slight dip. The German 10Yr (1.46%) has come up above 1.45% but may still target 1.40% if it is unable to maintain this rise.

The Japan 10-5Yr yield spread (0.42%) is testing support at current levels and we may see a bounce from here taking the yields higher. The US-Japan 10Yr yield differential (2.05%) is stable as the Dollar-Yen (102.21) trades slightly higher.

In India, the last phase of the General Election getting over yesterday and data showing a rising CPI at 8.59% and IIP at -0.5% we need to see how the markets react today. The Indian 10Yr GOI (8.73%) has remained stable but is vulnerable to a fall towards 8.60% while below 8.80%.


12:30 GMT or 18:00 IST US Retail Sales
...Expected 0.60 % ...Previous 0.67 %


IN IIP (Mar'14)
...Previous -1.80 % Actual -0.5%

IN CPI (Apr'14)
...Previous - 8.31 % Actual 8.59%




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."

Actionable trading levels delivered LIVE to YOUR charts

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 27 May 2019
AAGB/US- Holiday
Tue 28 May 2019
A 14:00 US- Consumer Confidence
C 13:00 US- Case-Shiller
Wed 29 May 2019
A 08:55 DE- Employment
AA 18:00 US- BOC Decision
A 18:30 US- EIA Crude
Thu 30 Mar 2019
AAEZ/CH- Holiday
A 12:30 US- Weekly Jobless
Fri 31 Mar 2019
AA 10:00 EZ- Flash HICP
A 12:30 US- Personal Income, Spending, Deflator
AA 14:00 US- Final Univ of Michigan

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.

Contact us

Start trading with forex broker Markets Cube


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
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

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
The Amazing Trader
Forex Opportunities
Forex Affiliates
Forex CopyTrading
GVI Forex