User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday November 30, 2007 - 18:33:16 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (30 November 2007)

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$1.4675 level and was capped around the $1.4785 level.  Stops were hit below the $1.4690 level, representing the 61.8% retracement of the move from $1.4520 to $1.4965.  Federal Reserve Chairman Bernanke spoke yesterday and made it very clear that the Federal Open Market Committee may reduce interest rates further on 11 December by being “exceptionally alert and flexible.” Bernanke noted the worsening credit market turmoil, an expanding housing slump, and escalating energy prices are creating some “headwinds for consumers in the months ahead.” His comments follow similar dovish remarks from Fed Vice Chairman Kohn earlier this week.  Many data were released this week. First, October construction spending was off 0.8% while private spending was off 0.8%.  Second, the Chicago November purchasing managers index rose to 52.9, above forecasts, while the prices paid component reached its highest level since July 2006 at 76.2.  Third, October consumer spending was up 0.2%, the weakest showing since June, and October personal incomes were up 0.2%.  Fourth, the core personal consumption expenditures index increased 0.2% m/m and 1.9% y/y, within the Fed’s perceived comfort zone for core inflation. The core PCE data should afford the Fed a little bit of breathing room to reduce borrowing costs. In eurozone news, the Q3 EMU-13 GDP growth was upwardly revised to an annualized 2.7% from 2.6% and EMU-13 November provisional harmonized inflation was up 3.0% from 2.6% in October. Euro bids are cited around the US$ 1.4625 level.

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥111.20 level and was supported around the ¥109.65 level.  The pair reached its highest level since 16 November as traders continued to speculate that a rate cut by the Fed will help the U.S. economy.  Many data were released in Japan overnight. First, October core CPI was up 0.1% y/y, the first rise in ten months and the latest evidence that Japan may finally be overcoming its long-standing bout with deflation.  Some traders believe Bank of Japan will press to raise interest rates by +0.25% to +0.75% before the end of the current fiscal year in March.  Second, October all-household spending was up 0.6% y/y and October orders received by the 50 largest contractors were off 22.7% y/y.  Third, the October consumer sentiment reached its worst level in nearly one year.  Fourth, October housing starts fell 35% and October unemployment was unchanged at 4.0%, as expected. The Nikkei 225 stock index gained 1.08% to close at ¥15,680.67.  Dollar bids are cited around the ¥109.25 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥163.80 level and was supported around the ¥161.80 level. The British pound and Swiss franc gained ground vis-à-vis the yen as the crosses tested offers around the ¥229.30 and ¥99.05 levels, respectively.  The Chinese yuan weakened sharply vis-à-vis the U.S. dollar as the greenback closed at CNY 7.4000 in the over-the-counter market, up from CNY 7.3824.  Traders will closely monitor Monday’s meeting of eurozone finance ministers following recent meetings between Chinese and European officials about the yuan’s value vis-à-vis the euro.

The British pound weakened vis-à-vis the U.S. dollar today as cable tested bids around the US$ 2.0530 level and was capped around the $2.0700 figure.  The pair reached its lowest level this week after U.K. November consumer confidence fell to its weakest level since March 2003.  Most traders believe BoE’s MPC will begin easing monetary policy in early 2008, if not in December.  Also, U.K. median pay settlements were up 3.5% in the three months to November from 3.2% in October.  Cable bids are cited around the US$ 2.0365 level.  The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ₤0.7130 level and was capped around the ₤0.7165 level.


The Swiss franc moved lower vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1295 level and was supported around the CHF 1.1160 level.  The pair reached its highest level since 13 November.  Data released in Switzerland today saw November CPI up 0.5% m/m and 1.8% y/y, stronger-than-expected, while Q3 GDP was up 0.8% m/m and 2.9% y/y.  Many traders believe Swiss National Bank will tighten monetary policy in a couple of weeks.  Dollar offers are cited around the CHF 1.1390 level.  The euro and British pound moved higher vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.6585 and CHF 2.3225 levels, respectively.


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 to YOUR charts in real-time.

Register To Test Your Amazing Trader

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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

John M. Bland, MBA
co-founding Partner,

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

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.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105