User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday January 26, 2009 - 20:33:10 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (26 January 2009)

The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3205 level and was supported around the $1.2860 level.  Technically, today’s intraday high was right around the 23.6% retracement of the move from $1.6040 to $1.2330.  Data released in the U.S. today saw the Chicago Fed’s National Activity Index improve last month to -2.40 from a downwardly-revised -2.56 in November.  In other U.S. news, National Economic Council head Lawrence Summers reported additional funds may be required to stabilize the financial system.  Traders will pay close attention to Wednesday’s announcement from the Federal Open Market Committee to see what additional measures – if any – Fed policymakers announce to help ease credit strains.  In eurozone news, European Central Bank member Gonzalez-Paramo reported “There is an interest rate level that should be taken as a reference and that is the historic minimum this institution has reached, which is 2 per cent.  To go below the historic minimum must be justified by exceptional reasons. And what doubt is there that there is something exceptional in the events we have in front of us.  For us, the important thing is that they have to be adequate rates that do not create problems that have to be resolved later on. At the moment we think interest rates are at an adequate level to anchor inflation expectations.”  January flash EMU-16 consumer price inflation data will be released on Friday and some economists believe inflation may have fallen as low as 1.4%, the lowest level since late 1999.  One reason for the euro’s earlier surge was news that Dutch financial giant ING would tap government guarantees.  ECB member Mersch reported he does not want to see the main interest rate fall too far below the current 2% level and said the adoption of “quantitative easing” policies would be difficult.  Additionally, ECB member Weber reported “The economic downturn is more powerful and more comprehensive worldwide than we expected it to be.  It worries me that containing the financial market crisis hasn't yet succeeded. There are always new distortions, always more sectors affected and new losses which in turn lead to new requirements for write-downs.”  Euro bids are cited around the US$ 1.2475 level.

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥89.45 level and was supported around the ¥88.25 level.  The yen gave back gains after some bids emerged in European equity markets following a surprise result from U.K. banking giant Barclays. Bank of Japan last week announced that it will purchase corporate bonds to ease credit strains and widened its list of eligible collateral to include real estate-backed debt.  Economists now believe core nationwide consumer price inflation slowed sharply in December, possibly as low as +0.3%.  Industrial production was off a record 9.0% last month and these data underscore the fragility of Japan’s economic situation.  BoJ downgraded its economic assessment of the economy last week and sees the economy contracting up to 1.8% in the fiscal year to 31 March.  The Nikkei 225 stock index lost 0.81% to close at ¥7,682.14.  U.S. dollar offers are cited around the ¥104.15 level.  The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥117.95 level and was supported around the ¥113.70 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥125.10 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥78.25 level.  In Chinese news, the Chinese government reported “Our country's economic and social development faces some stark conflicts and problems. At present, the main ones are the impact of the international financial crisis and the clear slowing of world economic growth.  Businesses are in hardship and unemployment problems are stark.”

 


The British pound reversed recent losses vis-à-vis the U.S. dollar today
as cable tested offers around the US$ 1.3995 level and was supported around the $1.3545 level.  Cable moved higher after Barclays reported it will not need additional cash injections from the U.K. government at this time.  Barclays also reported its 2008 pretax profits are expected to be ₤5.3 billion even after the ₤8 billion in write-downs is factored in.  Bank of England Monetary Policy Committee member Blanchflower reported U.K. interest rates are approaching zero per cent and added they still have additional room to decline to reach U.S. levels.   BoE Governor King last week reported the central bank may seek unconventional measures to provide additional liquidity to the financial system.  Data released in the U.K. today saw Hometrack January house prices fall 1.0% m/m and 9.4% y/y.  Also, BBA December mortgage approvals for house purchases moved higher from November’s record low and said net December mortgage lending was up ₤2.9 billion.   Prime Minister Brown reported the government can ill-afford any sort of financial protectionism.  Cable offers are cited around the US$ 1.4220 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.9515 level and was supported around the ₤0.9340 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 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

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