User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday January 18, 2005 - 16:52:37 GMT
GCI Financial -

Share This Story:
| | Email

FX Market Commentary and Analysis (18 January 2005)

The euro extended recent losses vis-à-vis the U.S. dollar today as the single currency tested offers fell to a two-month low against the greenback. The pair briefly printed around the $1.2995 level during North American dealing after the release of much stronger-than-expected U.S. November Treasury International Capital (TIC) data. These data showed that the U.S. more-than-covered its trade deficit two months ago with capital inflows from foreign sources. Foreign purchases of U.S. securities reached a net US$ 99.7 billion, relative to US$ 65.4 billion in October, with private net flows gaining $71.8 billion in November and net private purchases of Treasury bonds and notes up US$ 5.8 billion to $11.0 billion. Official net purchases of U.S. securities reached $27.9 billion in November, up from October’s reading of $14.9 billion. These data are important because Fed Chairman Greenspan in November said the U.S. may experience difficulties bridging its current account and trade deficits in the future. This would put upward pressure on U.S. interest rates and likely cause the U.S. dollar to depreciate. Traders cite the improving U.S. yield differential over eurozone assets as another reason why the dollar has been bid higher. The Fed is expected to next raise interest rates in early February. Many Fed speakers were on the wire today with Philadelphia Fed’s Santomero saying he expects rates to continue to move higher “at a measured pace.” The major question on traders’ minds now is whether or not the G7 will up the pressure on Asian countries to liberalize their capital accounts when policymakers convene in London next month. Other data released in the U.S. today saw the Empire State manufacturing index recede to 20.1 in January from a revised 27.1 in December. Data released in the eurozone today saw EMU-12 labour costs up 1.9% y/y in Q3, down from a preliminary 2.0% print, while November industrial output was off 0.3% m/m and up 0.5% y/y. In other eurozone news, it was reported Ecofin finance ministers suspended disciplinary measures against France for its breach of the EU’s Stability and Growth Pact but have decided to take action against Greece for similar problems. European officials have recently hinted a deal to reform the Pact could be unveiled before March. Euro bids are seen around the US$ 1.2975 level.


The yen lost ground vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥103.05 level and remained supported around the ¥102.10 level. Traders were unable to take the pair back to the ¥101 handle where major stops are said to be in place below the ¥101.80 and ¥101.30 levels. Data released in Japan overnight saw the November index of leading economic indicators upwardly revised to 36.4 from a preliminary reading of 30.0. This represents the third consecutive month the figure has been below the “boom-or-bust” 50.0 level. The coincident index was upwardly revised to 60.0 from the preliminary print at 44.4 – the first time in four months it has been above the 50.0 level. Other data released in Japan today saw the NRI consumer sentiment index at 142 in December from 143 in October. Also, Japan’s crude steel production gained 2.0% to 112.68 million tons, the highest level since 1974. Traders are pointing to the bitter cold snap in parts of the central and eastern U.S. as reasons why the yen has fallen today as front-month crude futures have topped the US$ 49.00 figure. Japan is heavily dependent on imported oil products and the yen exhibited a strong negative correlation with crude prices at times in 2004. The Nikkei 225 stock index lost 0.56% to close at ¥11,423.26 today. Dollar offers are cited around the ¥103.25 level. The euro gained ground vis-à-vis the yen as traders covered their shorts and pushed the pair as high as the ¥134.40 level. In Chinese news, People’s Bank of China indicated it is experiencing difficulties in conducting open market operations and may implement additional tools to adjust the money supply. One likely tool would be an increase in reserve requirements from the current 7.5% level. One estimate suggests the PBOC may have lost RMB 15 – 20 billion in 2004 on account of open market operations.

The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.8740 level and was supported around the US$ 1.8525 level. The gains were precipitated by a pick-up in U.K. inflation with price pressures accelerating to 0.5% last month – the fastest pace since June 2004 – with the annual rate up 1.6%. These data will make it difficult for Bank of England’s Monetary Policy Committee to consider lowering rates at this time. RICS data released overnight saw house prices decline in December but that the rate of decline leveled out to its slowest pace in three months. The U.K. housing market will continue to slow down and traders are curious to see if the slowdown becomes a crash. Cable bids are cited around the US$ 1.8650 level. The euro came off vis-à-vis the British pound as the cross tested bids around the ₤0.6965 level.


The Swiss franc lost moderate ground vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1905 level and was supported around the CHF 1.1805 level. Data released in Switzerland today saw December producer and import prices off 0.4% m/m and up 1.5% y/y. An average of all monthly changes in 2004 shows that the index gained 1.1% last year – the first rise since 2000. Dollar offers are seen around the CHF 1.1930 level. The euro came off vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5420 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 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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