User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday January 19, 2009 - 16:21:12 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (19 January 2009)

The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3120 level and was capped around the $1.3385 level.  Traders reversed course and moved into U.S. dollar assets on optimism that the incoming Obama administration will be able to implement economic policies that improve the beleaguered U.S. economy.  Also, the European Commission downgraded its GDP growth forecasts for 2009 and 2010 and now sees the eurozone economy contracting 1.9% this year and expanded 0.4% next year, compared with estimated 0.9% growth last year.  The EC’s forecast is more pessimistic than the forecast of the European Central Bank which most recently estimated an economic contraction up to 1% this year.  The EC also sees 2009 annual inflation around 1.0% and that could grow to 1.8% in 2010.  European Central Bank President Trichet today reported “2009 will be very difficult, as I indicated last Thursday. The council of governors considers that world and European growth in 2009 will be substantially lower than the forecasts made at the beginning of December.”  He added “The difficulties are still there, there is not in any circumstance any room for any complacency whatsoever. We must remain permanently ready to act.”  The ECB cut rates by 50bps last Thursday and ECB forecasts are expected to be updated in March.  ECB member Provopoulos today said the “scope for further rate cuts will be limited.” ECB member Nowotny added “The ECB has no interest in interest rates going down to zero.”  Euro bids are cited around the US$ 1.3055 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥90.15 level and was supported around the ¥91.30 level.  Bank of Japan Governor Shirakawa said the central bank’s previous zero per cent interest rate policy supported the economy but had side effects and former BoJ official Okina reported “There is no real positive impact from zero rates, the adverse effect (on money markets) overrides it.”  Most traders believe BoJ’s Policy Board will keep the overnight call rate unchanged at 0.10% this week following last month’s 0.2% reduction.  The central bank is expected to announce additional measures to enhance corporate financing and detail its plans to purchase commercial paper outright from financial institutions.  The central bank may also expand its list of eligible collateral for its lending programs. Shirakawa also indicated the amount of banks’ bad loans to rise above the current estimate of US$ 1.4 trillion.  Data released in Japan today saw revised November industrial output off 8.5% m/m.  The Nikkei 225 stock index gained 0.32% to close at ¥8,256.85.  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 ¥118.45 level and was capped around the ¥122.15 level.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥130.45 level while the Swiss franc moved lower vis-à-vis the yen and tested offers around the ¥79.55 level.  The Chinese yuan gained ground vis-à-vis the U.S. dollar as the greenback closed at CNY 6.8356 in the over-the-counter market, down from CNY 6.8374.  A Chinese government official said People’s Bank of China does not have much room to reduce interest rates further.  Morgan Stanley lowered its 2009 growth forecast to 5.5%.

The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.4450 level and was capped around the $1.4905 level.  Sterling cam off after the U.K. government announced its second major bank assistance facility in three months today.  The government will be able to insure themselves against losses on their riskiest assets and receive guarantees on debt. Additionally, the government will establish a ₤50 billion fund to purchase high-grade private sector securities to facilitate cash flow and jump-start lending through the auspices of Bank of England, beginning on 2 February.  BoE is expected to announce new measures to ease monetary conditions tomorrow.  Many traders believe these new BoE policies will amount to a de facto quantitative easing.  BoE has reduced interest rates 350bps since October.  Data released in the U.K. today saw Rightmove January house pries off 7.3% y/y.  ITEM is now forecasting the U.K. GDP will decline 2.7% this year.  U.K. bids are cited around the US$ 1.4345 level.  The euro gained ground vis-à-vis the British pound as the single currency tested offers around the ₤0.9090 level and was supported around the ₤0.8960 level.


The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1345 level and was supported around the CHF 1.1120 level.  Data released in Switzerland today saw November retail sales fall 1.4% on an inflation-adjusted basis. Swiss National Bank is expected to keep monetary policy ease for the remainder of the year.  U.S. dollar offers are cited around the CHF 1.1550 level.  The euro moved higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.4925 level while the British pound came off vis-à-vis the Swiss franc and tested bids around the CHF 1.6340 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 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 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