User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday April 24, 2008 - 11:00:37 GMT

Share This Story:
| | Email

Forex Research - German Business Confidence Falls, Sends Euro Below 1.5750

Thursday, 24 April 2008 09:42:19 GMT

Written by Boris Schlossberg, Senior Currency Strategist

The German IFO Institute reported the first drop in business confidence in four months.

Talking Points
•    New Zealand Dollar: RBNZ Holds Rates At 8.25%
•    Japanese Yen: Exports Grow at Slowest in Three Years
•    Euro: German Business Confidence Falls On Strong Euro
•    Pound: U.K. Retail Sales Fall For First time in Three Months
•    US Dollar: Durable Goods on Tap

The German IFO Institute reported the first drop in business confidence in four months. The gauge saw declines in all three components with the business climate index falling to 102.4 from 104.8; current assessment to 108.4 from 111.5 and expectations to 96.8 from 98.4. The Euro fell nearly 100 points on the news from 1.5835 to 1.5739 before finding support.

German businesses are feeling the effects of record oil prices and a strong Euro. Despite their waning confidence, many believe that the economy remains robust and that it is headed for a period of moderation versus a significant slowdown. Despite the drop in confidence, don’t expect the ECB to alter its hawkish stance with yesterday’s improvement in Eurozone’s PMI and the recent rebound in the current account from a deficit to a 4.3 billion dollar surplus. Although many feel that a slowdown in Europe will alleviate inflationary pressures, there has been a significant amount of rhetoric regarding inflation concerns and possible rate hikes emanating from the MPC. However, many members including Bonello today have looked to diffuse any speculation of an increase in future interest rates, which may start to weigh on the Euro.

U.K. retail sales fell 0.4% in March from 1.1% the month prior, the first decline in three months. The year-over year figure fell to 4.6% from a revised 6.3%, but better than the 4.3% that was expected. The slumping housing market has started to weigh on consumer confidence and curb their spending. The BoE has recently infused £50 billion into the market in an attempt to free the sticky credit markets, so that banks can give loans to borrowers seeking to buy homes. The central bank has continued to warn of the ongoing downside risks to consumer spending and the housing industry, and may need to cut rates further if current measures fail to stabilize the market. The Pound was relatively unchanged on the news, as it has started to consolidate between 1.9750 and 1.9800 after yesterday’s sell off.

The New Zealand central bank left rates unchanged at a record high of 8.25%, as inflation remains a concern. Governor Allan Bollard stated “We expect that the official cash rate will need to remain at current levels for a time yet”. The remarks were far more dovish than previous statements and leads to speculation that a rate cut may come by the end of the year. Record interest rates and a strong currency combined with the headwinds generated by the U.S. subprime crisis is slowing growth faster than the MPC anticipated. The Kiwi has found support at .7910 after dipping from 0.8000.

U.S. Durable Goods are expected to rebound from a 1.7% drop the month prior. The 0.1% expected increase is nearly flat and not something that will excite the markets. A more significant rebound may foster some dollar bullish sentiment, especially since speculation has risen that the Fed will pause their easing policy after their next meeting. However, further declines may signal the economy is far from reaching a bottom and may spark bearish sentiment.

Will EURUSD Get Above 1.60 Again?  Join us in EURUSD Forum



©2008 DailyFX. All Rights Reserved.


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

Mon 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 14:00 US- Prelim University of Michigan
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