User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday November 9, 2004 - 14:56:14 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (9 November 2004)

The euro ceded some more gains vis-à-vis the U.S. dollar today as the single currency fell to the US$ 1.2885 level before reclaiming the $1.2900 figure. The pair was unable to advance past the $1.2940 and from there was driven lower in a technical move than saw stops reached below the $1.2920 level. Traders were unimpressed with a weaker-than-expected German ZEW survey that saw the expectations index fall to its lowest level in nearly two years at 13.9. This is down from October’s reading of 31.3. The current conditions index improved to -57.8 from the previous reading of -58.9. The decline in the expectations index is said to be linked to the euro’s recent appreciation. The two major events over the next day will included tomorrow’s U.S. trade deficit data and the FOMC’s interest rate decision. Traders expect a slight narrowing of the trade deficit and see the number coming in around $53-54 billion. Traders are also interested to see how hawkish the FOMC’s monetary policy statement will be and what it means for the December FOMC. Most Fed-watchers anticipate a 25bps hike in the federal funds target rate tomorrow. Traders noted more verbal intervention from an ECB official today when Quaden said “it would be undesirable if the euro’s appreciation continues and even less so should it accelerate.” This followed ECB President Trichet’s rhetoric yesterday in which he became more vociferous in protesting the euro’s ascent. U.S. Treasury spokesman Nichols yesterday indicated the U.S.’s long-standing strong dollar policy “has not changed.” Euro bids are cited around the $1.2860 level.


The yen weakened vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥105.95 level after finding bids around the ¥105.45 level. Finance minister Tanigaki verbally intervened during Australasian dealing saying the government would “take action timely and decisively” if FX rates “deviated from economic fundamentals.” While this represents an increase in official rhetoric, most traders believe Bank of Japan would not be on the bid for dollars until the pair reached the ¥103 handle. Traders can expect more rhetoric from MoF officials if the pair remains in the ¥104-105 range given the explosiveness with which the yen can appreciate. Recent Japanese economic data have been less-than-strong and there are many data scheduled for release this week. The event risks this week for a lower dollar include tomorrow’s trade data and FOMC interest rate decision. The Nikkei 225 stock index came off 0.17% to close at ¥10,964.87 while the TOPIX fell 0.22%. Dollar bids are cited around the ¥105.30 level and dollar offers are seen around the ¥106.25 level. The euro gained ground vis-à-vis the yen today as the single currency tested offers around the ¥136.75 after finding good demand around the ¥136.15 level. Technically, the cross hugged the 100-hour moving average earlier in the session before moving back to the ¥136.50 level. In Chinese news, the Asian media is reporting that China has been selling U.S. dollars in recent sessions to prepare itself for its gradual liberalization of the RMB.


The British pound came off vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.8510 level after trading around the $1.8575 level early European dealing. Data released in the U.K. today saw the trade balance deficit narrow to £4.5 billion from £5.2 billion last month. The improvement was attributable to tbe best export demand in two years. This makes senses given sterling’s recent depreciation on a trade-weighted basis. Chancellor Brown spoke today and said the U.K. government will meet its fiscal obligations despite the weakness of tax receipts. He suggested next month’s pre-budget report will not be characterized by pre-election giveaways. Cable bids are seen around the US$ 1.8510 level. The euro was off modestly vis-à-vis the British pound today as the single currency tested bids around the £0.6950 level.


The Swiss franc weakened vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1860 level before moving back below the CHF 1.1850 level. The pair has now retraced 38.2% of the move from CHF 1.1990 to CHF 1.1755. Traders await comments from Swiss National Bank’s Hildebrand today. Dollar stops are cited above the $1.1900 figure. The euro tested offers around the CHF 1.5290 level before moving to the CHF 1.5260 level during North American dealing.


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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 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