User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday January 9, 2009 - 14:03:50 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (9 January 2009)

The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3585 level and was capped around the $1.3750 level.  Data released in the U.S. today saw December non-farm payrolls off 524,000, the worst print in more than fifteen years, while the unemployment rate moved higher-than-expected to 7.2%, the highest level since January 1993.  Also, October’s and November’s prints were negatively revised a cumulative 154,000 jobs.  Today’s data mean 2.6 million jobs were shed in the U.S. economy in 2008 - the most since 1945 - with 1.9 million jobs lost in the four months alone.  The “marginally attached” component of the jobs picture that measures underemployed and disenfranchised workers suggests the actual jobless rate in the U.S. could be above 12.5%.  Also, December hourly earnings were up 3.7% y/y and average hours worked declined to 33.3, a new cyclical low. The average hours worked data are typically a leading economic indicator and these data suggest companies may be reducing employment rolls further in coming months.  Boston Federal Reserve President Rosengren last night reported the U.S. recession is deeper and more severe than originally thought. Rosengren added “It appears the economy contracted quite significantly in the final quarter of 2008 and may continue contracting over at least the first half of 2009. We are seeing businesses retrenching and unemployment rising.”  Kansas City Federal President Hoenig hawkishly said the Fed must have a plan to withdraw the hundreds of billions of dollars of monetary stimulus it has injected by expanding its balance sheet. The Fed’s balance sheet has ballooned from about US$ 800 billion last year to $2.1 trillion at the present time. In eurozone news, German November industrial output was reported off 3.1% m/m and down 6.4% y/y.  European Central Bank President Trichet reported the ECB is considering ways to enhance its supervisory role in the banking sector.  Other data released today saw EMU-15 November retail sales climb 0.6% m/m and fall 1.5% y/y.  Traders await December retail sales data to see if final private demand improved during the holiday shopping period.  It was also reported that the eurozone future inflation gauge fell to a 3.5 year low.  Euro bids are cited around the US$ 1.3055 level.


¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥90.55 level and was capped around the ¥91.55 level.  Japanese financial markets will be closed on Monday and less yen liquidity in the market could render it easier for dealers to push the yen higher or lower.  Data released in Japan today saw the November coincident index off 2.8 index points m/m.  Also, Japanese reported US$ 1.031 trillion of foreign reserves at the end of last month.  The Nikkei 225 stock index lost 0.45% to close at ¥8,836.80.  U.S. dollar offers are cited around the ¥104.15 level.  The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥123.95 level and was capped around the ¥125.25 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥139.30 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥82.80 level.  The Chinese yuan weakened vis-à-vis the U.S. dollar as the greenback closed at CNY 6.8360 in the over-the-counter market, up from CNY 6.8352.  Data released in China overnight saw Q4 business confidence plunge to an eight-year low at 94.6.

The British pound moved higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5345 level and was supported around the US$ 1.5110 level.  Traders are talking about media reports that a deal could be in the works between Bank of England and the U.K. Treasury to conduct quantitative easing.  Chancellor Darling this week suggested quantitative easing is not yet in the works and any quantitative easing would require cooperation between the central bank and Treasury.  It is likely that Darling’s position will soften and the central bank will begin to monetize assets on its balance sheet.  Data released in the U.K. today saw November factory output fall at its fastest annual pace since 1981, off 7.4% y/y.  Production was off 2.9% in November, considerably worse than expectations.  These data will likely have a negative impact on preliminary gross domestic product data for Q4 that are scheduled to be release on 23 January.  Other data saw December producer price inflation unchanged m/m and up 4.7% y/y, the weakest level since December 2007.  December input prices fell 2.0% and the annual rate fell to +4.3%, the weakest level since August 2007.   Cable bids are cited around the US$ 1.3920 level.  The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ₤0.8920 level and was capped around the ₤0.9040 level.


The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1045 level and was supported around the CHF 1.0885 level.  Swiss National Bank is expected to maintain an easy monetary policy for the next several months.  U.S. dollar offers are cited around the CHF 1.1330 level.  The euro moved higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5020 level while the British pound gained ground vis-à-vis the Swiss franc as sterling tested offers around the CHF 1.6805 level.


The Australian dollar came off vis-à-vis the U.S. dollar today as the Aussie tested bids around the US$ 0.7010 level and was capped around the $0.7120 level.  Economic data that were released in Australia this week were quite low and many traders believe Reserve Bank of Australia will continue to ease interest rates in Q1.  Australian dollar bids are cited around the US$ 0.6600 figure.


The Canadian dollar depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the C$ 1.1930 level and was supported around the C$ 1.1790 level.  Data released in Canada today saw December payrolls decline 34,400 with the unemployment rate rising to 6.6% from 6.3% in November.  Average hourly wage growth fell to +4.5% y/y in December.  Finance minister Flaherty reported Canada will run a “substantial” budget deficit in the fiscal year starting on 1 April.  U.S. dollar offers are cited around the C$ 1.2210 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