User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday January 3, 2005 - 14:44:55 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (3 January 2005)

The euro started the New Year with some losses vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3385 level after running out of steam around the $1.3580 level during European dealing. The move to intraday highs followed the release of EMU-12 manufacturing PMI that saw a rise to 51.4 in December from November’s 50.4 reading. This bucked expectations of a continued decline and is important because it suggests the sector is handling the euro’s relative strength successfully. Germany’s manufacturing PMI rose to 51.7 from 49.9 while the EMU-12 new orders and output components registered gains for the first time in five months. Notably, however, the employment index came in at 48.3 – the 43rd consecutive month of contraction below the “boom-or-bust” 50.0 level. Liquidity was said to be thin today on account of the weekend’s New Year’s holiday. More active conditions are expected from tomorrow. The highlight of the week is likely to be Friday’s U.S. December non-farm payrolls data with some very early whispers predicting solid gains. One major theme in 2005 will be to what extent eurozone policymakers – both Ecofin finance ministers and European Central Bank officials – countenance the euro and its gains. The new euro spokesman for the “Eurogroup,” Luxembourg’s Juncker, recently said it is not his role to comment on the strength of the euro in public. Without a consensus on the euro, euro-selling intervention, especially joint intervention with the U.S. or Japan, seems unlikely for now. Traders look forward to a G10 meeting in Switzerland next weekend and February’s G7 meeting. ECB President Trichet will have an opportune forum to speak about the euro at both meetings. The dominant theme, however, will remain the U.S.’s mammoth budget and current account deficits in 2005. A widening of these imbalances could easily see the euro notch further gains. Traders await November construction spending and December ISM manufacturing in the U.S. today. Euro bids are seen around the US$ 1.3360 level.


The yen opened 2005 with some losses vis-à-vis the U.S. dollar as the greenback tested offers around the ¥103.45 level during Australasian dealing before moving to intraday lows around the ¥102.40 level during European dealing. Tokyo financial markets remain closed for the New Year holiday thus the pair took its cues from the dollar’s widespread gains overnight. Some dominant themes will direct yen trading this year. First, traders will continue to remain cautious of downside risks – namely Bank of Japan yen-selling intervention – as they probe for stops and try to test 2004’s low of ¥101.85. Second, parity is less than ¥3 away and could easily be a psychological goal for dealers to test early in 2005. Third, traders may possibly see data print in 2005 that confirm Japan has escaped from its long-standing bout with deflation. This will likely precipitate a stronger yen but Bank of Japan is unlikely to unwind its quantitative easing anytime soon. Fourth, the Nikkei 225 stock index finished the year on a decent note despite the recent weak tone of Japanese economic data. Fifth, traders will closely watch oil prices as there was a high correlation between elevated price and yen weakness at times in 2004, given Japan’s dependence on imported oil. U.S. oil prices shaved US$ 1.25 to $42.20 on the International Petroleum Exchange. Dollar offers are cited around the ¥103.70 level. The euro extended its recent losses vis-à-vis the yen as the single currency tested bids around the ¥138.10 level and was capped around the ¥139.10 level. Stops were hit below the ¥138.60 level during early North American dealing. Euro bids are seen around the ¥137.80 level.

The British pound moved lower during the first trading day of the New Year with cable testing bids around the US$ 1.8985 level, its lowest level since 30 November. Stops were reached below the $1.9055 level as cable bulls were unable to make much headway above the $1.9200 figure today. U.K. markets are still on holiday and will return to normal from tomorrow with many U.K. data released then including the latest mortgage lending data. A continued deceleration in lending activity and a slowdown in the housing sector do not bode well for sterling. Cable bids are seen around the $1.8915 level. The euro was basically flat vis-à-vis the British pound as the single currency tested bids around the ₤0.6995 level and was capped around the ₤0.7095 level.


The Swiss franc gained lost ground vis-à-vis the U.S. dollar on this first day of trading in 2005 with the greenback testing offers around the CHF 1.1555 level after testing bids around the CHF 1.1370 level. Trading was volatile as traders were able to move the markets on account of thin holiday-driven conditions. Swiss December unemployment data will be released on Friday. Dollar offers are seen around the CHF 1.1580 level. The euro came off marginally vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5410 level and was capped around the CHF 1.5480 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

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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