User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday December 20, 2007 - 13:33:18 GMT

Share This Story:
| | Email

Sterling dropped to a 3-month low as Forex traders are pricing in further BoE rate cut

News and Events:

The Dollar rose against the Euro and surged to a three-month peak against Sterling on Wednesday amid signs that financial market turmoil was starting to threaten economic growth beyond US borders. The Euro was hit after an index of German business sentiment came in close to a one-year low, prompting investors to increase year-end Dollar buying.
Large institutional investors also helped pushed Sterling below the 2.0000 for the first time since September, with traders pricing in another interest rate cut after minutes from the Bank of England's last meeting this month showed unanimous support for a cut to 5.5%. Volumes were typically light ahead of year-end and Forex traders said that exaggerated some of the price action. EurUsd was 0.25% weaker at 1.4382 having felt earlier as low as 1.4325. GbpUsd hit a three-month low at 1.9928 before recovering to 1.9961, still down 1.02% from Tuesday. UsdJpy last traded at 113.30, unchanged on the day, after dipping down to 112.74.
Dollar buyers were also cheered by Morgan Stanley's announcement of a $5 billion investment from China, which drew attention away from write downs that caused the bank to post a net loss of $3.59 billion in the fourth quarter.
The trading ranks are likely to think out further as the week goes on, but those who remain at their desks will get weekly jobless claims and the Philadelphia Fed's manufacturing index to scour for clues about US economic health.
The weak business confidence reading in Germany came at a time when inflationary pressures were rising in the euro zone, suggesting that the European Central Bank may have a tough time raising rates any time soon, analyst said. Such a situation could help the Dollar regain further lost ground against the Euro, with analysts less optimistic that the Fed would aggressively cut interest rates next year after inflation data last week pointed to hidden price pressures. The Bank of Canada and Bank of England, by contrast, have cut rates this year and could cut again in early 2008.


Today's Key Issues (time in GMT):

00:00 JPY BoJ rate Decision 0.5% vs 0.5%
07:45 CHF November Trade Balance CHF 1.37B vs 1.39B
09:30 GBP Q3 Gross Domestic Product 0.7% vs 0.7% (QoQ)
09:30 GBP Q3 Gross Domestic Product 3.2% vs 3.2% (YoY)
09:30 GBP Q3 Current Account £-11.5B vs -9.05B
09:30 GBP November Public Sector Net Borrowing £ 10B vs £ -1B
09:30 GBP November PSNCR £ 8B vs £ -4.8B
09:30 GBP November M4 Lending £ 15.7B vs 19.5B
09:30 GBP November BSA Mortgage Approvals £ 3.985B
13:30 USD Q3 GDP annualized 4.9% vs 4.9%
13:30 USD Q3 GDP Price Index 0.9% vs 0.9%
13:30 USD Q3 GDP PCE Prices 1.7% vs 1.7%
13:30 USD Dec. 15th, Initial Jobless Claims 335k vs 333k
15:00 USD November Leading Indicators -0.3% vs -0.5%
17:00 USD December Philadelphia Fed Business Index 6 vs 8.2
21:45 NZD Q3 Gross Domestic Product 0.4% vs 0.7% (QoQ)
21:45 NZD Q3 Gross Domestic Product 3.2% vs 3.2% (YoY)

The Risk Today:

EurUsd Euro pulled back from Friday 23rd November record high 1.4967. It broke last week the three weeks support 1.4520. On the downside, a return below 1.4500 opened 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 Following recent break of 2.0200 support (23.8% retracement) it dropped below 2.0000 psychological and key level. Further pressure might open the way down to 1.9590 (50% retracement 1.7049 – 2.1161). On the upside, 2.0000 former support marks now the initial resistance in front of 2.0200 and 2.0577 Dec 12th high. Yesterday low 1.9928 holds initial support.

UsdJpy Uptrend started end November hit 113.61 last 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 2.0200 M 114.00 P 1.1640 S
1.4520 S 2.0000 K 113.61 M 1.1547 M
1.4380 1.9980 113.30 1.1550
1.4280 S 1.9928 M 112.29 M 1.1402 M
1.4125 T 1.9879 S 110.00 S 1.1000 S
1.4000 S 1.9890 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

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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