User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday December 17, 2007 - 15:23:16 GMT

Share This Story:
| | Email

The Dollar rallied against major currencies for the third consecutive week

News and Events:

The Dollar rose sharply on Friday, posting its largest daily increase against the Euro in almost three years, after strong US consumer price data trimmed expectations for further interest rate cuts by the Federal Reserve. The Dollar rallied against major currencies for the third consecutive week, bolstered by a string of US economic reports showing higher-than-expected growth in consumer spending and higher inflation, though the data eased some concern that the credit crisis would drag the US economy into a recession. US Consumer Price Inflation rose to 4.3% for the November (YoY), its highest level since June 2006, while the core rate excluding volatile food and energy prices rose to 2.3% for the year, limiting the Fed's ability to cut interest rates in 2008. Since global credit market conditions worsened again in November, in a replay of the crisis that gripped investors in August, the dollar has staged a recovery. Hedge funds, corporate accounts, and institutional investors have all shifted their bets in favor of the Dollar and sold off the Euro since mid November. However, liquidity is thin given the approaching year end, exaggerating price action and making it unclear whether the Dollar can sustain a recovery into the New Year, traders said. Strategists believe US investors will repatriate their profits from abroad and seek relative safety in the depth of domestic markets. EurUsd fell 1.35% to 1.4430, the lowest since late October and largest daily fall since at least January 2005. AudUsd fell 1.98% to 0.8607 the lowest since late September. GbpUsd dropped 1.22% to 2.0176. The Fed cut its benchmark federal funds rate by 25bp to 4.25% on Tuesday, and together with other major central banks unveiled the next day a plan to inject liquidity into medium term money markets to ease the global credit crunch. Dollar, Euro and Sterling London Interbank offered rates (Libor) all fell on Friday for the second straight day following Wednesday's coordinated central bank liquidity plan.


Today's Key Issues (time in GMT):

08:15 CHF Q3 Industrial Orders 15.7% vs 11.7%
09:00 NOK Trade Balance previous 23.6B
09:00 EUR December Euro-zone PMI Manufacturing 52.3 vs 52.8
09:00 EUR December Euro-zone PMI Services 54 vs 54.1
09:00 EUR December Euro-zone PMI Composite 53.7 vs 54.1
10:00 EUR December Germany ZEW economic sentiment -34 vs -32.5
13:30 USD Q3 Current Account $-183.8B vs -190.7B
13:30 USD December NY Fed manufacturing 20 vs 27.37
13:30 CAD October Intl Securities transactions CAD -1B vs -5.2B
18:00 USD December NAHB Housing Market Index 19 vs 19
00:30 AUD Reserve Bank of Australia Policy meeting minutes
02:00 NZD December NBNZ Business Confidence

The Risk Today:

EurUsd Euro pulled back from Friday 23rd November record high 1.4967. It broke the three weeks support 1.4520 on Friday. On the downside, the return below 1.4500 open the way toward 1.4280 former resistance. This could put into focus 1.4000 nearby support and 1.4125 trendline support. Initial resistance holds 1.4520 former support.

GbpUsd Cable corrected Friday down to 2.0147 and breaking down the 2.0200 strong support. GbpUsd ended down 1.22% to 2.0176. On the downside, confirmation below 2.0200 might drive toward 2.0000 psychological levels to complete the downtrend. On the upside, 2.0200 former support marks the initial resistance before 2.0577 Dec 12th high.

UsdJpy Uptrend started end November went through 113.61 on Friday. This recent move up put 114 into focus. Further strength may open the way toward 117.63 resistance. On the downtrend, initial support holds 110, before 107.22 trend November 26th low. Initial resistance holds 113.61 Friday high.

UsdChf Uptrend from 1.0888 23rd November low remains strong. Market had found support on 1.1327 end November high. Initial resistance holds 1.1547 Friday high. It would also need a return over 1.1640 level to relieve 6 months bear threat. Initial support holds 1.1402 Friday low.

Resistance and Support:

1.5000 K 2.0833 S 117.63 S 1.1895 T
1.4967 S 2.0577 M 114.00 P 1.1640 T
1.4520 S 2.0200 M 113.61 M 1.1547 M
1.4375 2.0130 113.20 1.1545
1.4280 S 2.0000 K 112.29 M 1.1402 M
1.4125 T 2.0181 M 110.00 S 1.1000 S
1.4000 S 1.9879 S 107.22 T 1.0888 K
S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot


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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
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 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