User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday October 11, 2004 - 15:15:37 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Analysis and Commentary (11 October 2004)



The euro came off modestly vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2385 level after peaking around the $1.2420 level during Australasian dealing. Holidays in Japan, the U.S., and Canada significantly limited the pair’s range today at the beginning of a week that will be very light on U.S. economic data until Thursday and Friday. Technical analysts are suggesting that it will take a definitive break of the $1.2460 level in order for the pair to gain some momentum and establish multi-week highs. A big test for the dollar may come on Thursday when August’s trade balance is released in the U.S. followed by retail sales data and preliminary October University of Michigan consumer sentiment on Friday. Ecofin’s Zalm today said the ECB has done a great job of securing price stability in the eurozone. Also, EU’s Alumnia said the euro’s exchange rate is not as prominent an issue as it was last year. Traders await German CPI data and the ZEW survey tomorrow. Euro bids are cited around the $1.2360/40 levels.

¥

The yen moved higher vis-à-vis the U.S. dollar today as traders pushed the pair lower to the ¥109.15 level after testing offers around the ¥109.60 level. A holiday in Japan limited liquidity during Australasian dealing but traders sold the dollar on renewed concerns that China may relax its RMB peg sooner rather than later. Options traders continue to cite purchases of U.S. dollar puts/ yen calls in anticipation of a change in China’s FX regime. Some have noted that three-to-six month strikes have been trading in the ¥105.00 range recently. A change in the RMB peg would likely cause the yen to appreciate also on account of a decrease in Asian intervention to artificially support the dollar. Conspiracy theorists suggest this is what was discussed during the phone call between President Bush and President Hu Jintao of China last week. Today’s move lower was an extension of Friday’s selling activity that followed a weaker-than-expected U.S. non-farm payrolls report for September. Stops were triggered below the ¥109.65 level during the descent today and technical analysts note the 200-day moving average is just above the ¥109.00 figure. Dealers cite dollar bids around the ¥109.00 figure. The euro gained ground vis-à-vis the yen today as the single currency tested bids around the ¥135.20 level after stops were hit below the ¥135.70 level. Today’s low was the cross’s lowest level since 22 September.

£

The British pound gained a small amount of ground vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.7970 level after testing bids around the $1.7925 level. The move higher in sterling was precipitated by a +0.3% m/m and +3.1% y/y increase in September output prices, pushing the pair to its highest annual growth level in eight years. Similarly, input prices rose 1.3% m/m and +7.4% y/y, exceeding forecasts. Other data released today saw the August global goods trade deficit up £5.220 billion, a little more than expected. Today’s factory gates inflation data suggest the Bank of England’s current tightening cycle may not have ended despite generally weaker and decelerating economic data. Also, ODP house prices were up +13.6% y/y in August. Economists suggest this week’s labour data in the U.K. may evidence the sixteenth consecutive monthly decline in the number of unemployed individuals. Cable offers are cited around the $1.7995 level. The euro came off vis-à-vis the British pound today as the single currency tested bids around the £0.6895 level after running out of steam around the £0.6925 level. Institutional bids are cited around the £0.6900 figure.

CHF

The Swiss franc was confined to an unusually narrow range vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2485 level and failed to get above the CHF 1.2515 level. There are no major Swiss data scheduled for this week. Dollar bids are cited around the CHF 1.2440 level. The euro extended recent losses vis-à-vis the Swiss franc today but the pair was supported around the CHF 1.5475 level, near its 200-day moving average.

 

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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 18 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

Global-View.com 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 Global-View.com. 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.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

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