User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday March 10, 2008 - 17:04:05 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (10 March 2008)

The euro gained marginal ground vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.5405 level and was supported around the $1.5310 level.  The common currency established a new lifetime high on Friday before coming off and has been rangebound today, hemmed in by comments from European Central Bank President Trichet who indicated he is concerned about “present excessive foreign exchange market moves.” Most traders do not expect central banks to conduct intervention to slow the dollar’s descent and many dealers view the euro’s dips as buying opportunities.  Data released in the eurozone today saw Germany’s January trade surplus rise to €17.1 billion from €10.7 billion in December.  In U.S. news, the markets are currently pricing in a 75bps monetary easing from the Federal Open Market Committee on 18 March and that would lower the federal funds target rate to 2.25%.  The markets are pricing in about a 183% chance of a 50bps easing with the prospect of another rate cut on 30 April and the likelihood of lower interest rates is keeping the U.S. dollar on the defensive.  Data released in the U.S. today saw January wholesale inventories up +0.8% from +1.1% in December.  Euro bids are cited around the US$ 1.5145 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥101.80 level and was capped around the ¥102.50 level.  The pair consolidated some of the losses it incurred on Friday following the pair’s move to multi-year lows.  Finance minister Nukaga verbally intervened against the yen saying he’s monitoring foreign exchange rates’ recent movements carefully.”  Most traders do not anticipate Bank of Japan or other central banks will conduct yen-selling intervention but there is a heightened risk at these levels.  Morever, most major central banks including the BoJ, Fed, ECB, etc. have made it clear that they are communicating closely about the markets.  Data released in Japan overnight saw the February money supply up +2.3%, an increase from January’s +2.1% expansion.  Also, February bank lending was up +0.9% y/y to ¥391.92 trillion, the 25th consecutive month of gains.  The Fukuda government faces a tough uphill battle getting Toshiro Muto, its nominated successor for outgoing BoJ Governor Fukui, approved by the Parliament.  Fukui retires from the central bank on 19 March.  Other data released in Japan overnight saw the February economy watchers’ survey improve to 33.6 from 31.8, the first improvement in eleven months.  The biggest news overnight was a report that private sector machinery orders surged 19.6% m/m in January, the largest gain since August 2000.  The Nikkei 225 stock index lost 1.96% to close at ¥12,532.13.  U.S. dollar bids are cited around the ¥101.20 level.  The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥101.80 level and was capped around the ¥157.60 level.  The British pound and Swiss franc weakened vis-à-vis the yen as the crosses tested bids around the ¥205.30 and ¥99.70 levels, respectively.  The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.1029 in the over-the-counter market, down from CNY 7.1110, the pair’s lowest close since the yuan revaluation of July 2005.  Data released in China overnight saw the February trade surplus print at US$ 8.56 billion while the February producer price index was up 6.6% y/y.  It was also estimated that China’s consumer price inflation measure reached 8.3% last month.  The Chinese government reported China’s employment situation will worsen severely with up to twenty million new jobseekers entering the labour market annually.



The British pound appreciated sharply vis-à-vis the U.S. dollar today as cable tested offers around the US$ 2.0220 level and was supported around the $2.0145 level.  The pair reached its highest level since 18 December 2007 after data were released that confirmed producers’ input prices reached a record level in February, up 1.7% m/m and 19.3% y/y, the largest annual increase since at least 1986.  Output prices rose 0.3% m/m and 5.7% y/y, its highest level since July 1991.  These data suggest pipeline inflation is accelerating and traders lifted sterling on the premise that Bank of England’s Monetary Policy Committee may not be able to lower interest rates as quickly as the markets anticipated.  Consumer price inflation data will be released on 17 March.  It was also reported that January manufacturing production rose 0.4% but industrial production fell 0.1%.  Cable bids are cited around the US$ 2.0040 level.  The euro gained marginal ground vis-à-vis the British pound as the single currency tested offers around the ₤0.7635 level and was supported around the ₤0.7595 level.

CHF

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0170 level and was capped around the CHF 1.0255 level.  Most traders do not expect Swiss National Bank to change interest rates this week.  U.S. dollar offers are cited around the CHF 1.0475 level.  The euro and British pound weakened vis-à-vis the Swiss franc as the crosses tested bids around the CHF 1.5635 and CHF 2.0505 levels, respectively.

 

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 20 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales


Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.


  • POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing statistic.



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