User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday December 6, 2004 - 15:07:37 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (6 December 2004)



The euro traded in a very narrow range vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3455 level and was supported above the $1.3415 level. Traders are closely watching any comments before or after the Ecofin EMU-12 finance ministers meeting later today. Comments about the euro’s exchange rate and possible intervention remain on the forefront of traders’ minds. New French finance minister Gaymard today said “the slide (of the U.S. dollar) must not continue, and there needs to be a better management of these rates at the international level.” German newspaper Boersenzeitung today suggested the U.S. Treasury would not buy dollars until the euro rises to $1.45. If true, this intimated U.S. monetary authorities may countenance any continued orderly decline in the greenback. Bundesbank’s and ECB’s Weber said short-term moves in exchange rates are “highly unwelcome” but did not suggest ECB intervention was imminent. A Bank for International Settlements report released yesterday reported that OPEC countries have already started to reduce their share of deposits in dollars by more than 13% over the last three years, favouring the euro. Not many U.S. data will be released this week with PPI scheduled for later this week. Euro bids are cited around the $1.3370 level.

¥

The yen lost a small amount of ground vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥102.55 level after finding a floor around the ¥101.90 level. Japanese spokesman Hosokawa verbally intervened overnight, pledging “bold action” to counter the dollar’s decline. These comments kept the pair from falling too far below the ¥102.00 figure. Traders briefly pored over a report from the U.S. Treasury that concluded none of the U.S.’s major trading partners manipulated their currencies in 2004 to gain competitive advantage. While some manufacturing companies would heavily argue that this is incorrect – citing Japan in Q1 and China as prime examples of manipulators – it is likely any testimony from Treasury Secretary Snow to this effect will reinforce this message. The report did conclude, however, that “the risk of an inflationary boom followed by the hard landing that has characterized past Chinese cycles remains” on account of China’s rigid FX policy. Germany’s Boersenzeitung newspaper cited a U.S. Treasury report that suggests the U.S. government expects the dollar to trade around the ¥90-95 level in H1 2005. The Nikkei 225 stock index came off 0.84% to close at ¥10,981.96, below the psychologically-important ¥11,000 figure. Dollar offers are cited around the ¥102.60 level. The euro moved higher vis-à-vis the yen today as the single currency tested offers around the ¥137.75 level and remained supported above the ¥137.05 level.

£

The British pound was little changed vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.9445 level and was supported above the $1.9390 level. Data released in the U.K. today saw October manufacturing production fall 0.1% m/m and 0.5% y/y, below forecasts, while industrial production came off 0.1% m/m, defying expectations of a 0.5% rise. Other data released today were disappointing with the NIESR reporting that U.K. GDP increased a mere 0.4% in the three months to November from the previous three months. This is below the estimated 0.6% trend growth rate. Cable bids are cited around the $1.9360 level. The euro made a lunge to the ₤0.6930 level but could not sustain its gains and fell back to the ₤0.6910 level – a narrow trading range for the day.

CHF

The Swiss franc weakened vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1380 level and remained supported just above the CHF 1.1300 figure. Swiss National Bank President Roth spoke today and said “The combination of weaker economic growth and high oil prices could prompt the major central banks to maintain for now their expansionary monetary policy stance. normalization of monetary policy could be delayed, keeping interest rates relatively low.” Traders interpreted this as a fairly strong message that SNB is likely to keep monetary policy unchanged when the central bank has their year-ending and quarterly policy meeting on 16 December. Dollar offers are cited around the CHF 1.1420 level. The euro had a strong day vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5280 level and was supported around the CHF 1.5205 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."



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 16 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 16 Oct
01:30 CN- CPI
21:45 NZ- CPI
Tue 17 Oct
08:30 GB- CPI
09:00 DE- ZEW Survey
09:00 EZ- Final HICP
Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



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