User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday November 22, 2004 - 14:53:31 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (22 November 2004)

The euro lost a small amount of ground vis-à-vis the U.S. dollar today in largely muted trading as the single currency tested offers around the US$ 1.3050 level and was supported around the $1.3010 level. There were no significant fireworks on the sidelines of the G20 summit in Berlin this weekend. Participant countries failed to agree on any significant language regarding recent FX movements in their communiqué and instead reiterated this year’s Boca Raton G7 statement about currency movements. Fed Chairman Greenspan moved the market on Friday with his remarks about current account deficits, dwindling demand for U.S. assets, and their effects on the U.S. dollar. Germany’s Schroeder said recent FX movements have been “worrying” while U.S. Treasury Secretary Snow said the U.S. is committed to reducing the record U.S. budget deficit by half over the next four years. Snow, however, also said eurozone countries need to do their part by boosting economic growth and help to reverse economic imbalances. Dealers cite the $1.3100 figure as an option barrier and offers are seen below this level. Data released in the eurozone today saw better-than-expected trade numbers for the month of September. The U.S. Thanksgiving holiday on Thursday has many participants reducing market exposure. Traders await durable goods orders, final November University of Michigan consumer sentiment, and weekly initial jobless claims on Wednesday. Euro bids are seen around the $1.3010 level.


The yen gained a small amount of ground vis-à-vis the U.S. dollar today as the greenback tested bids below the ¥103.00 figure and was unable to get through the ¥103.40 level. Japanese monetary authorities continue to verbally intervene with MoF’s Hosokawa pledging “bold action” on FX if it is needed while Bank of Japan Governor Fukui said yen appreciation could be “destabilizing and a big concern.” The lack of a coherent G20 message on FX is being interpreted by some as a sign that Japan may not have U.S. support if it intervenes by selling yen. Others believe Japan does not want to intervene by selling yen in this current widespread negative U.S. dollar environment. Traders are said to be reducing their positions ahead of tonight’s holiday in Japan and Thursday’s holiday in the U.S. One event risk for a stronger yen is this week’s Japanese CPI data. Any signs of stronger retail price pressure could see the market load up on yen again on the premise that Bank of Japan is that much closer to beginning to unwind its long-standing quantitative easing policy. The Nikkei 225 stock index came off 2.11% overnight to close at ¥10,849.39, its largest one day decline this month. Dollar bids are cited around the ¥102.70 level. The euro weakened vis-à-vis the yen today as the single currency tested bids around the ¥134.15 level after testing offers around the ¥134.75 level. In Chinese news, President Bush reiterated the U.S.’s long-standing “strong dollar” policy at this weekend’s APEC meeting in Santiago but is also said to have maintained pressure on China to revalue its yuan currency.


The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.8520 level after failing to challenge the US$ 1.8600 figure. The big event on the table this week is this Friday’s second estimate of Q3 GDP. Many forecasts have the data expected to come in around an unrevised 0.4%. Bank of England policymakers Large, Lomax, and Bean will speak this week and traders will also pay attention to the CBI’s monthly industrial trends survey. Rightmove reported that U.K. house prices were off 1.7% in the month to mid-November and this pressured cable in early European dealing. A U.K. media reported quoted Barclays as saying U.S. house prices could fall by up to 20% over the next three years. Cable bids are seen around the $1.8510 level. The euro moved higher vis-à-vis the British pound today as the single currency tested offers around the £0.7035 level after testing bids around the £0.7005 level.


The Swiss franc came off vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1645 level after testing bids around the CHF 1.1590 level. Swiss National Bank President Roth recently said the current Swiss economic situation is “relatively comfortable,” leading to speculation the central bank will not be changing monetary next month and not intervening to arrest the franc’s strength. SNB’s Hildebrand is scheduled to speak tomorrow. Traders are looking to see if the pair can move back to the CHF 1.15 handle where it spent some time late last week. Dollar offers are seen around the CHF 1.1650 level. The euro moved higher vis-à-vis the Swiss franc today as the single currency tested offers around the CHF 1.5160 level after finding some demand around the CHF 1.5120 level.


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