User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday October 12, 2004 - 21:54:34 GMT -

Share This Story:
| | Email

Forex: Euro Weakens On Disappointing ZEW survey and French data

DailyFX Fundamentals 10-12-04

By Kathy Lien, Chief Strategist of

·Euro Weakens On Disappointing ZEW survey and French data
·Bearish Comments From BoE King and Softer Inflation Pressures Weighs On Pound
·Yen Weakens As China Says Speculation About Yuan Revaluation “Groundless”


Further evidence of the weakness in the Eurozone economy is once again surfacing. Germany reported a much weaker than expected ZEW survey this morning (31.3 versus 36 expected). Based upon the report, the analysts or experts surveyed by the ZEW expect the German economy to slow over the next 6 months. This slowdown will be brought on by the damaging impact of surging oil prices, weaker global demand, and the inability for the German government to invigorate domestic demand. Activity in the Eurozone as a whole is also expected to be more dismal, with the economic sentiment index for the region falling from 44.7 to 37.6. With the US economy hitting a soft patch and higher energy costs slowing growth worldwide, pessimism has increased quite a bit over the past few weeks. Meanwhile, France reported weaker industrial production and a wider trade balance. Although the widening of the trade balance was mainly due to an increase in energy costs, the size of the widening is still a primary cause for concern. Furthermore, industrial production fell 1.9% m/m, on the temporary closure of a big auto manufacturer, which contrasts with the market’s expectation for a +0.1% increase.


As we have expected, the dollar has since retraced over 50% of the losses that it incurred after Friday’s exceptionally weak non-farm payrolls report. The previous high of 1.2450 has proven to be a stiff level of resistance and as such the range remains intact ahead of the data scheduled for release on Thursday and Friday. Although many people are calling this the calm before the Thursday storm when we will then be inundated with the trade balance, import price index, PPI, retail sales, the Empire Manufacturing survey, industrial production, the University of Michigan consumer confidence survey and business inventories, we doubt that the data will be of sufficient enough catalyst (aside from maybe retail sales) to move the pair beyond its current range. Instead of particular interest will be Federal Reserve Chairman Alan Greenspan’s speech about oil on Friday afternoon. In the past few monetary policy statements, the FOMC has been made specific mention of oil prices and viewing its negative effects as transitory. However, it will be interesting to see whether the Chairman has his radars on alert now that oil has surpassed $50 per barrel.


The British pound retraced following a softer than expected consumer price inflation report issued for the month of September and modestly bearish comments from Bank of England Governor King. Consumer prices increased by 0.1% m/m and 1.1% y/y in September compared to the market’s expectation for a 0.4% and 1.4% respective increase. Heavy discounting in airfares, clothing and footwear has led to the softest pace of price acceleration since March of last year. Prices are growing at a slower pace in Britain than in the Eurozone. According to the statistics office, the Bank of England had access to the inflation data going into their monetary policy meeting on Thursday of last week. This means that their decision to keep rates on hold was probably a shoe-in. Meanwhile Bank of England Governor King said that the fall in the pound might have boosted inflation, which means that without the retracement in the pound, the fall in inflation could have been even worse. He also added that there are signs that the UK economy is in a ‘soft patch.’ This builds the case that the BoE is probably at the end of their tightening cycle.


After falling 200 pips in 2 days, the dollar retraced some of its losses against the Japanese yen. The correlation between the Japanese yen and oil prices has fallen apart recently. As oil surged over the past 2 days, the Japanese yen rallied against the dollar. Today, the Japanese yen rallied while oil prices dropped over a dollar per barrel. The retracement can be attributed partially to the comments from China. The State Administration of Foreign Exchange said on their website that the rumors of a yuan revaluation is “groundless and are a misunderstanding of our country’s current exchange rate policy.” We have previously cautioned about being too excited about China’s comments. They were simply a reiteration of former comments. Any revaluation or widening of the currency’s trading band would be a long drawn out process.


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.

Upgrade Your Trading experience. Try the Amazing Trader

Trading Ideas for 15 January 2018

Upgrade Your Trading. Try The Amazing Trader

Amazing Trader EVENT RISK Calendar:

Mon 15 Jan 2018
00:00 US- Holiday
Tue 16 Jan 2018
09:00 GB- CPI
20:00 US- Beige Book
Wed 17 Jan 2018
00:30 AU- Employment
02:00 CN- GDP
10:00 EZ- final HICP
14:15 US- Industrial Production
15:00 CA- Bank of Canada Decision
Thu 17 Jan 2018
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
16:00 US- EIA Crude
Fri 18 Jan 2018
09:30 GB- Retail Sales
15:00 US- University of Michigan (prelim) Survey

PROSPECTIVE Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH- Wed -- 00:30 GMT-- AU- Employment

  • POTENTIAL PRICE RISK: Medium- Wed -- 10:00 GMT-- EZ- Final HICP

  • POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production

  • POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision

  • John M. Bland, MBA
    co-founding Partner,

    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.



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