User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 20, 2008 - 15:59:49 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (20 May 2008)

The euro appreciated sharply vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.5680 level and was supported around the $1.5505 level.  The common currency reached its highest level since 28 April as crude oil futures traded above the US$ 129 figure for the first time ever.  Data released in the U.S. today saw the April producer price index rise 0.2% m/m while core inflation was up 0.4% m/m and 3.0% y/y – the largest change since December 1991.  Traders will now focus on consumer price inflation data to determine if inflation is filtering through the supply chain from the wholesale level.  Federal Reserve Governor Kohn today said “the most likely scenario over the next year or so is one in which economic activity firms during the second half of this year and then gathers some strength in 2009.”  Regarding inflation, Kohn added he expects “core inflation to ease off slowly as commodity prices level out and as economic slack creates competitive conditions that inhibit increases in labor costs and prices.”  Other data released in the U.S. today saw the Chicago Fed April national activity index decline to -1.17 from -0.98 in March.  In eurozone news, German ZEW head Franz speculated the European Central Bank could raise interest rates “in the near future” and this led to a bid in the euro.  The German May ZEW economic expectations index fell to -41.4 from -40.7 in April, below forecast.  Also, the Belgian May consumer confidence index fell to -9 from -7 in April.  Euro bids are cited around the US$ 1.5230 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥103.45 level and was capped around the ¥104.45 level. As expected, Bank of Japan’s Policy Board kept the overnight call rate unchanged at 0.50% and kept its assessment of the domestic economy unchanged. The central bank reported “economic growth is slowing due to the effects of high energy and material prices” and added the economy will “grow at a slower pace for the time being and follow a moderate growth path thereafter.”  The BoJ also highlighted declining corporate profits and “cautious” business sentiment.  BoJ Governor Shirakawa said “"Recent data show that exports (from Japan) have expanded across the globe, but they also confirmed the flat trend of industrial output, a moderation of the growth of corporate profits and a slowdown in the expansion of capital investment. Thus, an economic slowdown is becoming more evident. We now need to assess if a weakening of the growth momentum of income, stemming from the deterioration of the terms and conditions of trade, will pose downside risks to domestic private demand. In particular, I'm watching closely how a deterioration of the terms and conditions of trade will affect corporate capital investments.”  Data released in Japan overnight saw April convenience store sales fall 0.2% y/y while the March leading index was downwardly revised to 18.2 from an initial estimate of 20.0 and the coincident index was downwardly revised to 30.0. The Nikkei 225 stock index lost 0.77% to close at ¥14,160.09.  Dollar bids are cited around the ¥103.00/ 101.35 levels.  The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥163.00 figure and was supported around the ¥161.45 level.  The British pound and Swiss franc moved higher vis-à-vis the yen as the crosses tested offers around the ¥204.85 and ¥100.05 levels, respectively. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 6.9735 in the over-the-counter market, down from CNY 6.9753 and the pair’s lowest close since the yuan revaluation of July 2005.



The British pound appreciated sharply vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.9705 level and was supported around the $1.9475 level.  Technically, today’s intraday high was just above the 50% retracement of the move from $2.0025 to $1.9360.  U.K. interbank lending rates remain elevated with the overnight rate trading at 5.10%, above the central bank’s 5.00% benchmark rate.  Most traders believe last week’s more hawkish-than-expected quarterly inflation report from the central bank will render it difficult for the central bank to ease monetary policy next month. Cable bids are cited around the US$ 1.9360/ 1.9100 levels.  The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ₤0.7940 level and was capped around the ₤0.7980 level.

CHF

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0360 level and was capped around the CHF 1.0535 level.  The pair reached its weakest level since 1 May.  Swiss National Bank Directorate member Hildebrand indicated Switzerland may establish tighter regulatory rules for its banks than other countries.  Data released in Switzerland today saw March producer and import prices up 0.7% m/m and 3.6% y/y.   U.S. dollar offers are cited around the CHF 1.0760 level.  The euro and British pound moved lower vis-à-vis the Swiss franc as the crosses tested bids around the CHF 1.6235 and CHF 2.0410 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