User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday January 13, 2009 - 11:35:47 GMT
Global Forex Trading -

Share This Story:
| | Email

Forex Research - Euro Liquidation Persists As Credit Fears Escalate

Euro Liquidation Persists As Credit Fears Escalate

Last Updated 1/13/2009 5:24:28 AM EST (GMT +5)

Top Stories

  • Nikkei down nearly 5% after holiday
  • Germans pass 50B euro stimulus package
  • Japan FinMin Nakagawa - watching FX market with caution
  • Russia starts pumping gas to Europe
  • Gold crumbles as dollar strengthens last $818/oz
  • Oil continues to decline $36/bbl last

Overnight Eco

  • NZD NZIER Business Confidence - 64 massive fall off from -19 last
  • JPY Bank Lending 3.7%
  • JPY Current Account .65T vs. .62T forecast
  • JPY M2 Money Stock 1.8% vs. 1.7% called
  • GBP BRC Retail Sales Monitor -3.3% against -2.8% last
  • GBP RICS House Price Balance -73.5 slight improvement form -75.8 last
  • JPY Economy Watchers Sentiment record low at 15.9
  • EUR German WPI -3.0 vs. -1.7% forecast
  • GBP Trade Balance -8.3B vs. -7.6B called
  • GBP DCLG HPI -8.6% vs. -8.5%

Event Risk on Tap

  • CAD Trade Balance expected at 3.3B
  • USD Trade Balance expected at -53.5B
  • USD IBD/TIPP Economic Optimism
  • USD Federal Budget Balance expected at -40.5B

Price Action

  • USD/JPY breaks 8900 to the downside despite Nakagawa warnings as equities drop
  • AUD/USD dribbles to 6700 as risk aversion kicks in
  • GBP/USD craters to 1.4600 after worse than forecast Trade data
  • EUR/USD probes the 1.3200 level as credit worries EUR/JPY sales weigh
The EUR/USD continued its descent today in early European trade coming within 20 points of the 1.3200 figure as worries over the credit downgrade of Spain and a series of EUR/JPY sales weighed on the pair  for a second day in a row.  The Nikkei closed down nearly 5% after Japanese investors returned from their Monday holiday and this latest wave of risk aversion kept the pressure on the euro while propping the dollar and the yen.    

On the economic front the latest German inflation data showed a much larger decline of -3.0% vs.- 1.7% expected, annihilating any argument for ECB’s continued hawkishness. European price levels now signal the possibility of deflation  rather than inflation inviting much more aggressive action from the ECB.

Nowhere is this dynamic more clear than in the oil market with crude sliding to $36/bbl despite continued tensions in the Middle East. Given the complete  absence of any price pressures in the Euro zone economy, some traders have started to anticipate a 75bp rate cut from the ECB this Thursday. We very much doubt that Mr. Trichet and company would suddenly become so dovish in their monetary policy and anticipate a 50bp rate cut at most.   

Nevertheless,  the change in market view via a vis the pace of rate cuts in the Eurozone along with nascent worries over the credit worthiness of some of the union’s member states  has produced a negative bias towards the euro at the start of  this week.  The pair is approaching some intermediate level support near the 1.3200 handle, but the bounces so far have been anemic at best.

In North American session today, the key event risk lies in US trade data which may surprise to the downside but should nevertheless show a marked improvement from the month prior given the collapse in oil prices.  Having dropped more than 600 points in the past 3 sessions, the EURUSD could stabilize for the time being as it has now reached the lower levels of its broad 1.30-1.40 range. However, unless the currency market sees a new catalyst for dollar weakness the path of least resistance for the pair remains down.

FX Upcoming

CAD13:308:30CAD Trade Balance3.3B3.8B
USD13:308:30USD Trade Balance-53.5B-57.2B
USD15:0010:00USD IBD/TIPP Economic Optimism
USD19:002:00USD Federal Budget Balance-40.5B-164.4B

About The Author

Schlossberg has more than 20 years experience financial trading on Wall Street. His daily currency research appears in numerous newspapers worldwide and Schlossberg serves as a regular contributor to CNBC's Squawk Box and Bloomberg radio and television. Read more >>

DISCLAIMER: This forum and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. This forum and its information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision based upon this forum or any information contained within. In addition, any projections or views of the market provided by the author may not prove to be accurate. Global Forex Trading and Boris Schlossberg will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained in this column. Global Forex Trading and Boris Schlossberg do not render investment, legal, accounting, tax or other professional advice. If such advice is sought, or other expert assistance is required, the services of a competent professional should be sought.


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