User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday February 26, 2008 - 15:51:44 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (26 February 2008)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4885 level and was supported around the $1.4780 level.  The common currency reached its highest level since 1 February on account of a stronger-than-expected German February Ifo business climate index print of 104.1, up from January’s 103.4 level.  Most economists expected a decline in the index and traders lifted the euro on the idea that these data will decrease the likelihood European Central Bank will lower interest rates anytime soon.  These data overshadowed other data that saw German Q4 GDP growth fall to +0.3% on account of lower consumption.  Also, the Ifo expectations index weakened to 98.2 from 99.0. European Central Bank member Orphanides indicated the ECB may downwardly revise growth and inflation projections but noted there are already some second-round inflation effects in the eurozone.  ECB President Trichet spoke last night and will present the ECB’s most recent economic projections on 6 March.  In U.S. news, January headline producer price inflation was up 1.0% m/m and 7.4% y/y with the core rate up 0.4% m/m and 2.3% y/y.  Some of these data points were the hottest they’ve been in more than a decade and they render it more difficult for the Federal Reserve to lower interest rates.  The Federal Open Market Committee’s next interest rate decisions will be released on 18 March and 30 April.  Other data released today saw February consumer confidence fall to 75.0 from 98.3 in January.  Also, Standard & Poors reported U.S. house prices lost 8.9% in Q4 2007. Additionally, the Richmond Fed’s February manufacturing index improved to -5 from -8 in January.  Traders await remarks from Fed Vice Chairman Kohn later in the North American session followed by testimony from Fed Chairman Bernanke tomorrow.  Euro bids are cited around the US$ 1.4490 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥107.65 level and was capped around the ¥108.15 level.  Technically, today’s intraday high was right around the 61.8% retracement of the move from ¥110.10 to ¥104.95.  Data released in Japan overnight saw the January corporate service price index fall 1.1% m/m and rise 0.8% y/y, the eighteenth consecutive month of year-on-year growth.  The Japanese government created a new economic panel head by former Bank of Japan Policy member Ueda to identify future economic challenges.  Most traders believe Bank of Japan’s Policy Board will keep the overnight call rate unchanged at 0.50% for the next few months.  The Nikkei 225 stock index lost 0.65% to close at ¥13,824.72.  Dollar bids are cited around the ¥106.15 level.  The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥160.65 level and was capped around the ¥160.65 level.  The British pound and Swiss franc weakened vis-à-vis the yen as the crosses tested bids around the ¥211.80 and ¥98.85 levels, respectively.  The Chinese yuan depreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.1580 in the over-the-counter market, up from CNY 7.1522.



The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.9750 level and was supported around the $1.9640 level.  The pair reached its highest level since 5 February.  Data released in the U.K. today saw YouGov February consumer inflation expectations index indicate consumer expect inflation of 3.1% over the next twelve months, down from 3.3% in January.  Bank of England Deputy Governor Lomax today warned that an increase in inflation expectations would reduce the Monetary Policy Committee’s ability to reduce interest rates.  MPC member Besley said he is “largely agnostic in terms of (whether higher inflation or lower growth risks) are dominant at this point.”  Data released in the U.K. today saw CBI February sales volumes index come in weaker-than-expected at -3 from +4 in January – the first negative print since November 2006.  Cable bids are cited around the US$ 1.9590/ 1.9260 levels.  The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.7550 level and were supported around the ₤0.7515 level.

CHF

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0835 level and was capped around the CHF 1.0915 level.  Technically, today’s intraday high was right around the 50% retracement of the move from CHF 1.0725 to CHF 1.1105.  Data released today saw the UBS January private consumption index improve to 2.19 from 2.18 in December.  U.S. dollar offers are cited around the CHF 1.1155 level.  The euro and British pound weakened vis-à-vis the Swiss franc as the crosses tested bids around the CHF 1.6120 and CHF 2.1375 levels, respectively.

A$/ NZ$

The Australian dollar gained ground vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.9300 figure and was supported around the $0.9255 level.  The pair reached its highest level since 9 November 2007.  Australian dollar bids are cited around the US$ 0.9165 level.  The New Zealand dollar appreciated vis-à-vis the U.S. dollar as the kiwi tested offers around the US$ 0.8150 level and was supported around the $0.8065 level.  Today’s intraday high represents a new multi-decade high. New Zealand dollar bids are cited around the US$ 0.8020 level.

C$

The Canadian dollar appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 0.9865 level and was capped around the C$ 0.9985 level.  The pair reached its lowest level since 4 January.  Data released in Canada today saw the number of employees in Canada increase 0.1% in December as the economy added 13,900 new jobs.  Also, employees’ average weekly earnings were up 3.1% y/y.  U.S. dollar offers are cited around the C$ 0.9990 level.

 

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