User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday January 19, 2005 - 15:52:17 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (19 January 2005)



The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3120 level and remained bid above the psychologically-important $1.3000 figure. Data released in the U.S. today was mixed to positive news for the greenback as weekly initial jobless claims tumbled 48,000 to 319,000 while housing starts were up +10.9% last month. December consumer price inflation was off 0.1% m/m and up 3.3% y/y while the “core” rate was up +0.2% m/m and +2.2% y/y. Many Fed speakers have been on the wires over the past couple of days. Earlier today, Fed Governor Bernanke today said “the direction of monetary policy moves depends on how consumer spending reacts to productivity developments” and was fairly optimistic about productivity gains. Cleveland Fed President Pianalto yesterday said momentum has “clearly shifted away from disinflation” and added preemptive tightening is better “than finding out the hard way – for example, through a deterioration in inflation expectations or in the inflation picture itself – that we had maintained an overly accommodative stance for far too long.” In contrast, Minneapolis Fed President Stern said he doesn’t “see factors that lead (him) to believe there will be an appreciable acceleration of inflation in 2005.” Philadelphia Fed President Santomero predicted inflation will remain “well contained” in 2005 and added he sees monthly job creation between 150,000 and 200,000. The major question on traders’ minds now is whether the Fed will include or abandon the “measured pace” clause that has become commonplace in its FOMC statements when policymakers convene in early February. Some traders are taking a second look at yesterday’s TIC data that showed foreign investors spent US$ 81 billion purchasing U.S. assets in November, covering the record US$ 60.3 billion trade gap that month. Some analysts are saying these data are not an accurate representation of foreign appetite for U.S. assets because the cheaper dollar made such purchases more palatable for foreign central banks. They also note there is a seasonal component to the data and some suggest the seasonally-adjusted data were probably closer to October’s shortfall. Euro bids are seen around the $1.3000 figure.




¥

The yen retraced most of its losses vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥102.65 level and remained supported just above the ¥102.00 figure. Finance minister Tanigaki verbally intervened overnight saying Japan “will take decisive action to counter unjustified movements” in the yen’s exchange rate. Notably, the government released its monthly economic report overnight and added foreign exchange rates to an existing list of significant risk factors. Tanigaki said the economy is in an “adjustment phase” but added this is part of an “upward climb.” Bank of Japan Governor Fukui also verbally intervened saying “ I believe that recent movements in the forex market have become unstable, and we will monitor closely whether these developments will have any psychological and real impact on the Japanese economy.” Fukui also said G7 policymakers are likely to reaffirm their support for “orderly” FX moves “more strongly” when they convene in London on 4-5 February. The markets have a perception that policymakers will up the pressure on Asian currency regimes to become more market-oriented. Bank of Japan’s Policy Board voted unanimously overnight to keep monetary policy unchanged and Fukui again said a period of year-on-year CPI at or above zero per cent is one prerequisite for unwinding Japan’s long-standing quantitative easing policy. BoJ also issued a monthly report today and it marked for first time in three months the central bank has kept its assessment unchanged. The Nikkei 225 stock index shed 0.16% to close at ¥11,405.34. Dollar bids are cited around the ¥101.85 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥134.40 level and was supported right around the ¥133.00 figure. In Chinese news, People’s Bank of China Governor Zhou said “one consideration…this year…is to gradually make the (yuan) exchangeable.” He also said the growth in FX reserves in 2004 was “a little bit faster (than 2003)” but “not unreasonable.”




The British pound extended recent gains vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.8825 level and was supported around the $1.8625 level. Data released in the U.K. today evidenced a modest 4.4% increase in pay growth in the three months to November. Other data saw unemployment claimant counts recede 6,200 in December to 826,300, the lowest level since July 1975, while the claimant count unemployment rate remained unchanged at 2.7% from the previous three months. The ILO number of unemployed persons climbed 13,000 to 1.4 million with the unemployment rate remaining steady at 4.7%. The question on traders’ minds is how this increase in wage pressures will affect Bank of England monetary policymaking, if at all. Cable bids are cited around the $1.8740 level. The euro came off vis-à-vis the British pound as the cross tested bids around the ₤0.6945 level and was capped around the ₤0.6990 level.






CHF

The Swiss franc gained modest ground vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1750 level after failing to get through the CHF 1.1865 level. The pair was strong across the board but sterling moved higher on the cross to the CHF 2.2190 level. Dollar bids are seen around the CHF 1.1720 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5400 figure after failing to get through the CHF 1.5450 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 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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