User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday January 7, 2009 - 16:58:41 GMT
Larry Greenberg -

Share This Story:
| | Email

Bank of England Preview

The Bank of England began a two-day interest rate policy meeting today.  The market consensus is looking for a cut of 50 basis points to 1.5%. I expect a bigger decline to be announced at 12:00 GMT tomorrow. Here’s why.

  • The central bank got a late start. The central bank rate was 5.0% as recently as October 7th. At 2% now, the Bank is still behind the curve.
  • Most central banks, and especially the Bank of England, have made a point lately to cut by more than consensus to shock psychology out of its stupor. The BoE reduced rates by 100 basis points last month and by 150 bps at its meeting in November.
  • The Monetary Policy Committee felt in December that a bigger cut than the 100-bp move was appropriate but settled for the minimal justified action because market participants had not been properly prepared for a larger cut. There would be not surprise if officials cut more than 50 bps tomorrow.
  • Within the past month, Deputy Governor Charles Bean, who is responsible for monetary policy, said rates might eventually need to go to zero.
  • Within the G-7, it’s a race between Britain and Japan for which country’s real GDP declines the most in 2009.
  • British GDP was already sinking very sharply last summer, falling in 3Q08 by 2.0% at a seasonally adjusted annual rate compared to drops of 0.5% in U.S. GDP and 0.8% in Euroland GDP. Consumption and investment made negative contributions to British growth, and imports rose faster than exports. Real GDP rose merely 0.3% between 3Q07 and 3Q08.
  • U.K. industrial production posted a monthly drop of 1.7% in October, worst since 2003, and a 12-month decline of 5.2%, worst since 1991.
  • Two widely watched house price indicators posted December-over-December declines of 15.9% (Nationwide) and 16.2% (Halifax). Mortgage approvals and gross mortgage loans were 61% and 51% lower in November than a year earlier. The housing market continues to get clobbered.
  • Exports fell 3.4% between September and October.
  • Despite a better-than-forecast 0.3% uptick in real retail sales in November, anecdotal evidence points to awful holiday shopping last month. The Nationwide consumer sentiment index fell a full point to 4.7 between October and December, while the GFK consumer confidence gauge of -33 in December was also very weak.
  • The two monthly surveys by the business group, CBI, showed retail activity with its worst reading since at least 1983 and industry with a score of -35, nine points less than forecast.
  • The service sector PMI had an average score of 40.9 in the fourth quarter, 6.6 points less than the 3Q mean of 47.5. The manufacturing PMI posted an average reading of 36.7 last quarter, 6.8 points less than its 3Q mean value. The construction PMI slid below 30 last month to 29.3. These levels imply a huge decline of GDP last quarter.
  • Expected inflation over the coming two years has receded rapidly from 4.4% last August to 2.8% in the following quarterly survey.
  • Average wages rose 3.3% in the year to 4Q08 and are headed downward as unemployment, which advanced by 127.5K between September and November, deteriorates rapidly. Consumer price inflation meanwhile fell to 4.1% from 5.1% and is likewise in full retreat now. Shop prices rose just 0.5% in the year to December.

The main argument against a bigger-than-50 basis point drop in interest rates is the vulnerability of the pound. December saw speculation intensify that sterling was headed to par and then below against the euro. Although the pound is 3.6% lower on a trade-weighted basis than when rates were cut on December 4th, it has shown greater resilience against the euro recently. Besides, the ECB is drawing increasing market criticism for not getting ahead of the curve in cutting its rates. With all economies in the same miserable basket, this is not the time for British monetary officials to get timid with its easing.


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