User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday July 30, 2008 - 22:56:37 GMT

Share This Story:
| | Email

Forex Research - Fed Announcement and ADP Helps to Lift the Dollar

• Euro Continues to Slide on Mixed Economic Data
• British Pound Headed Lower – Watch Out for Consumer Confidence

Fed Announcement and ADP Helps to Lift the Dollar
Positive economic data has continued to drive the US dollar higher.  Payroll provider ADP reported a 9k rise in jobs this month.  As one of the leading indicators for non-farm payrolls, this along with stronger consumer confidence numbers is good news going into this Friday’s non-farm payrolls report.  However don’t expect positive job growth in the month of July. The only thing that the ADP number suggests is that the number of job losses could be less severe than the prior month.  The four week moving average of jobless claims have also fallen in the week ending July 19 even though initial claims climbed to 406,000.  Nonetheless, we can not forget the countless layoff announcements that have surfaced over the past two months and the fact that US companies are cutting back.  ADP has a track record of being notoriously optimistic about projecting payrolls.  Non-farm payrolls dropped in each of the past six months but between January and June, the ADP employment survey on the other hand only dropped 2 out of the 6 months.  ADP has consistently missed to the high side and we expect the same this month.  Meanwhile a surprising announcement from the Federal Reserve has also helped to rally the US dollar and US stocks.  “In light of continued fragile circumstances in financial markets,” the Federal Reserve extended the tenure of their Primary Dealer Credit and Term Securities Lending Facilities.  This means that in addition to their 28-day loans, they will also be selling 84-day loans.  In response, the European Central Bank and the Swiss National Bank will also be making 84-day funds available at dollar auctions.  These actions should help to calm the markets, especially as the rally in the stock market continues to ease risk aversion.  However the changes are incremental since the Fed is simply tweaking their existing programs to give themselves more flexibility when there are times of “elevated stress.”  As we have been mentioning all week, the dollar should continue to rally.  The advance release of second quarter GDP is due for release tomorrow.  Despite the inherent problems within the US economy, GDP growth is expected to accelerate thanks to the rise in retail sales. 

Euro Continues to Slide on Mixed Economic Data
The Euro continued to trend lower despite mixed economic data.  Eurozone Retail PMI rose from 36.3 to 38.2 in July thanks to stronger activity in Germany and Italy.  However despite the improvement, the index remains at very low levels, reflecting the troubles in the overall economy.  Consumer and business confidence on the other hand continues to trend lower.  This is in line with the drops in the German IFO report and the ZEW survey.  We still believe that the EUR/USD is headed for further losses and a break below 1.55 may just be a matter of time.  German unemployment data is due for release tomorrow along with Eurozone consumer prices.  The rise in the employment component of service PMI suggests that the number of people claiming unemployment benefits will fall once again.  As for consumer prices, the number should continue to reflect strong inflationary pressures.  Meanwhile Switzerland’s KoF report of leading indicators was weaker than expected.  Despite the rise in the UBS consumption index, the outlook for the Swiss economy has deteriorated.  However we still believe that Switzerland is faring much better than many of its other G10 counterparts. 

British Pound Headed Lower – Watch Out for Consumer Confidence
The British pound struggled amidst dollar strength and news that Lloyds TSB, a major UK bank reported a 63 percent drop in income.  Like many other banks around the world, Lloyds has been hit by the credit crunch and slowdown in investment banking.  We continue to believe that the UK economy is in bad shape and the pace of deterioration will accelerate.  There was no economic data released this morning, but the GfK consumer confidence survey is due for release tonight.  Rising food prices, falling house prices and problems in the labor market should weigh heavily on UK consumer confidence and the British pound.  The only other piece of UK data due for release this week is PMI on Friday. 

Australian and New Zealand Continue to Fall
The Australian, New Zealand and Canadian dollars have fallen under the weight on lower commodity prices and broad dollar strength.  Gold broke below the psychological $900 an ounce mark on an intraday basis to hit a monthly low (it has since recovered).  Australian building approvals were much weaker than expected, dropping by 0.7 percent last month instead of rising by 1.0 percent like the market expected.  RBNZ Governor Bollard talked down the Kiwi when he said that the weak economy justifies the easing bias.  In other words, he is confirming that interest rates will continue to fall and for that reason, we expect the New Zealand dollar to make a run below 70 cents.  Canadian economic data on the other hand was very positive with industrial product and raw material prices rising strongly in the month of June. 

Yen Crosses Struggle Despite Stock Market Rally
The Japanese Yen crosses struggled despite the rally in US stocks.  Japanese industrial production was weaker than the market expected, reflecting the overall problems in the Japanese economy.  Labor cash earnings are due for release tomorrow and even though the market is expecting earnings to rebound, there is a greater chance that it will miss.  Looking ahead, we still expect further gains in USD/JPY and consider this latest retracement a hiccup before a move towards 110.  





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

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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