User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday December 3, 2004 - 14:47:40 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (3 December 2004)

The euro galloped higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3385 level after the release of a much weaker-than-expected November U.S. non-farm payrolls number that only saw 112,000 jobs created last month. The unemployment rate came in at 5.4%. October NFPs were downwardly revised to 303,000 from 337,000 while September NFPs were downwardly revised to 119,000. Estimates were calling for new job creation between 190,000 and 230,000 last month thus these data were disappointing for dollar bulls. It is noteworthy, however, that the dollar quickly clawed back a lot of the ground it ceded immediately following the number. This begets the technical question of whether or not the dollar’s downturn is now exhausted. German sources verbally intervened during European dealing today, saying Berlin is “in contact” with G8 partners and called for “more flexibility.” These comments precede Chancellor Schroeder’s upcoming trip to China and Japan. The same sources, however, said intervention should only take place in “exceptional circumstances.” Data released in the eurozone today saw a weak EMU-12 services PMI report with Germany’s services PMI falling to 51.3 from 52.2. EMU-12 retail sales data, however, improved to 0.7% - the first positive number in four months. Euro bids are cited around the $1.3320 level.


The yen gained a small amount of ground vis-à-vis the U.S. dollar before November non-farm payrolls data were released in the U.S. today as the greenback fell to the ¥102.95 level after peaking around the ¥103.60 level during European dealing. The pair shook off stronger-than-expected capital investment data in Japan during the July-September quarter that evidenced 14.4% gains. These data could see the Japanese government upwardly revised the previously-reported weak GDP data for that quarter. Finance minister Tanigaki repeated his verbal intervention mantra today and added exchange rates do not reflect fundamentals. Tanigaki verbally intervened. New Bank of Japan Policy Board member Mizuno questioned the central bank’s ultra-easy quantitative easing credit policy but no change in policy is seen until 2005 at the earliest. Data released by the Federal Reserve last night saw holdings of U.S. Treasury and agency debt held by overseas banks climb by ¥7.080 billion in the week ending 1 December. The Nikkei 225 stock index climbed 0.9% to close at ¥11,074.89, its first close above the ¥11,000 figure since 19 November. Dollar offers are seen around the ¥103.65 level. The euro gained a small amount of ground vis-à-vis the yen today as the single currency tested offers around the ¥137.75 level and was supported around the ¥136.70 level.


The British pound moved higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.9360 level after testing bids around the $1.9190 level. Cable spiked from the $1.9280 level to the $1.9345 level after the release of the weaker-than-expected U.S. NFP data. Chancellor of the Exchequer Brown verbally intervened today, citing “exchange rate imbalances between the euro and the dollar.” Yesterday, Brown gave a pre-Budget speech that many criticized as being too optimistic with regard to 2005 growth forecasts. Cable bids are cited around the $1.9290 level. The euro gained a small amount of ground vis-à-vis the British pound today as the single currency tested offers around the ₤0.6915 level and was supported around the ₤0.6890 level.


The Swiss franc resumed its march higher vis-à-vis the U.S. dollar today as the greenback tested bids just below the CHF 1.1400 figure today. The pair fell from the CHF 1.1480 level to the CHF 1.1415 level in the aftermath of the November U.S. non-farm payrolls data. Traders are growing increasingly skeptical that Swiss National Bank will tighten monetary policy when policymakers convene on 16 December as this could precipitate more franc buying. Dollar offers are seen around the CHF 1.1525 level. The euro came off vis-à-vis the Swiss franc today as the single currency tested bids around the CHF 1.5235 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

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