User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday December 8, 2008 - 16:51:54 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (8 December 2008)

The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2950 level and was supported around the $1.2715 level.  The common currency moved higher as the incoming Obama administration signaled plans to increase public works spending and the U.S. Congress continued work on a bailout for Detroit automakers.  European Central Bank policymakers went on the interest rate offensive today, making it abundantly clear the ECB has additional room to ease monetary policy.  ECB President Trichet said the ECB “has ample monetary policy ammunition” while ECB’s Quaden reported the “financial crisis has accelerated the downward (growth) revisions.”  ECB member Nowotny added “I favor a steady-hand policy. Having said that, one should always retain the flexibility to react to new developments. There's certainly room for maneuvre if the future economic development is significantly weaker.” Similarly, ECB’s Gonzalez-Paramo added policymakers have not excluded reducing interest rates further.  ECB’s Tumpel-Gugerell said central banks’ impact on counterparty credit risk and uncertainty are limited and added “the measures taken by the governments and shareholders are, therefore of paramount importance, and should address these problems over time.”  The European Union will hold a summit in Brussels on 11 – 12 December to review fiscal stimulus proposals that are calling for a €200 billion spending plan.  Data released in German today saw October industry output fall 2.1% while EMU-15 December Sentix investment sentiment worsened for a sixth straight month to -42.3.  In U.S. news, Boston Federal Reserve President Rosengren said additional Fed monetary policy actions are limited and added “Increasingly, many observers and commentators are suggesting that fiscal stimulus will be an important element of economic recovery.”  Euro bids are cited around the US$ 1.2135 level.

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥93.90 level and was supported around the ¥92.55 level.  Traders reduced long yen exposure as risk appetites returned following an ambition plan by U.S. President-elect Obama to enact the largest public spending program since the 1950s.  Also, there is increasing speculation the U.S. government will bail-out the beleaguered Detroit automakers.  Japan’s Toyota Motor Corp reported it is considering a sharp decrease in capital spending.  Data released in Japan overnight saw November bank lending climb 3.2% y/y while the October current account surplus was off 56.5% y/y. The increase in bank lending was attributable to the severe problems in the commercial paper market as the outstanding balance of commercial paper declined 9.9% y/y in November.  Also, the November M3 money supply was up +0.6% y/y while the November service sector sentiment index printed at 21.0 and November corporate bankruptcies were up 11.5% y/y.  U.S. dollar offers are cited around the ¥104.15 level.  The euro gained ground vis-à-vis the yen as the single currency tested offers around the ¥120.95 level and was supported around the ¥117.90 level.  The British pound and Swiss franc moved higher vis-à-vis the yen as the crosses tested offers around the ¥140.75 and ¥77.50 levels, respectively.  The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 6.8800 in the over-the-counter market, down from CNY 6.8812.  China’s “central economic work conference” is convening to discuss options as to how to maintain economic growth of 8% per year. China Investment Corp President Gao Xiqing was quoted as saying “Everyone is saying, 'Oh, look, the dollar is getting stronger!' I say, that's really temporary. It's simply because a lot of people need to cash in, they need U.S. dollars in order to pay back their creditors. But after a short while, the dollar may be going down again. I'd like to bet on that!"

The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5045 level and was supported around the $1.4675 level.  Sterling powered higher as traders increased exposure to risk following announcements of U.S. fiscal spending plans.  Prime Minister Brown is meeting French President Sarkozy and European Commission President Barroso to discuss the European Union economy.  Data released in the U.K. today saw November output prices fall 0.7% m/m and climb +5.1% y/y.  Similarly, input prices fell 3.3% and the annual rate of input price inflation was reduced to +7.5%, the lowest since September 2007.  These data are the latest evidence that deflationary pressures are evident in the U.K. economy.  Most traders expect Bank of England will reduce interest rates further in January.  Cable offers are cited around the US$ 1.4865 level.  The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ₤0.8725 level and was supported around the ₤0.8580 level. 

CHF

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2020 level and was capped around the CHF 1.2210 level.  Traders repriced risk today and sold U.S. dollars and Japanese yen for higher-yielding currencies.  Most traders expect Swiss National Bank will announce additional monetary easing measures on Thursday.  U.S. dollar offers are cited around the CHF 1.2210 level. The euro moved higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5615 level while the British pound came off vis-à-vis the Swiss franc and tested bids around the CHF 1.7835 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 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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