User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday January 26, 2005 - 14:27:13 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (25 January 2005)

The euro retraced some of yesterday’s losses vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3035 level during North American dealing. The pair has been fairly well-bid throughout the day as Australasian dealers managed to challenge the psychologically-important $1.3000 figure and European dealers kept the pair moving higher from the $1.2970 level. Data released in the eurozone today saw the January Ifo business climate index rise to 96.4 from 96.2 in December – its highest reading since February 2004 and right around expectations. The business assessment index receded to 95.3 from 96.0 in December and the business expectations index climbed to 97.6 from 96.5 last month. Also, the EMU-12 current account surplus printed at €400 million in November, down from €1.4 billion in October. December French large retail sale prices were off 0.2% m/m and 0.4% y/y. There was some intense criticism of the U.S. economy by noted global economists at introductory sessions of the Davos World Economic Forum. Morgan Stanley’s Roach said “self-indulgent” U.S. consumers are the “weakest link” in the global economy even though U.S. consumption was the driving factor behind global economic growth last year. Roach said U.S. consumers “suck money” out of their homes to spend on imports from Asia which in turn buys U.S. dollars and keeps U.S. interest rates low. Roach said the Federal Reserve remains in denial about this phenomenon. The Federal Open Market Committee will convene next week and is widely expected to raise interest rates by 25bps to 2.5%. This would increase the positive yield differential over eurozone and Japanese assets. Interestingly, PIMCO Managing Director McCulley is publicly predicting the Fed will stop raising rates in 2005 when the federal funds target rate is no higher than 3.0%. This is generally on the low end of economists’ forecasts and given that PIMCO is the world’s largest bond market player, may explain the surprisingly low interest rates in the U.S. Data released in the U.S. today saw mortgage application volumes fall 3.6% w/w. Traders await Friday’s U.S. GDP and PCE deflator data. Euro bids are seen around the $1.2950 level.


The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥103.25 level after failing to get through the ¥104.15 level overnight. Stops were reached below the ¥103.75 level during Australasian dealing and the pair found some technical support during early North American dealing. Data released in Japan overnight saw its merchandise trade surplus reach its highest level in five years in 2004 following soaring exports to Asia. The merchandise trade surplus climbed 17.9% y/y to ¥12.01 trillion – the fourth consecutive year of expansion with exports to China up 20.5% y/y and imports from China up 16/8% y/y. Greater China officially replaced the U.S. as Japan’s largest trading partner but exports to the U.S. rose 2.3% to ¥13.72 trillion, the first rise in two years. Despite these strong trade data, some economists believe net exports will not be making a positive contribution to Japanese GDP data for a while on account on elevated commodity prices and inventory readjustments. It is probable that Japan experienced negative GDP growth in Q4 as the December trade surplus was off 3.9% m/m and up only 1.8% y/y. Other data released overnight saw the December corporate service price index fall 0.2% m/m. The Japanese government left its assessment of the economy for the November – January period unchanged for the fourth consecutive quarter. The MoF reported the economy is making a “gradual recovery” despite weakness in some sectors like information technology. The Nikkei 225 stock index gained 0.88% to close at ¥11,376.57. Dollar offers are cited around the ¥104.45 level. The euro tumbled vis-à-vis the yen as the single currency tested bids around the ¥134.25 level and was capped around the ¥135.10 level. The cross remains below the ¥134.95 technical resistance level. In Chinese news, a comment from a Chinese official led to yen gains across the board. The official said there would be “deep dialogue” about the yuan at next week’s G7 meeting in London, at which China will be a participant. China is unlikely to revalue the yuan soon, but the comment caught some traders off-guard because U.S. and European officials have recently downplayed the likelihood of official comments about the yuan at the meeting. Still, it is likely policymakers will seek to recertify the Boca Raton G7 statement about exchange rates from one year ago. Separately, a Chinese government economist said China will not meet its target regarding issuance of ¥2.5 trillion in new loans this year.

The British pound jumped sharply vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.8815 level and was supported around the $1.8635 level during Australasian dealing. Data released in the U.K. today saw Q4 GDP rise 0.7% q/q, above expectations and above its so-called trend rate of growth. Traders were largely pessimistic ahead of the number following Friday’s surprisingly weak December retail sales print but were reinvigorated by today’s news. On an annualized basis, economic growth reached 2.8%, lower than Q3’s 3.1% rate but higher than forecasts for a 2.7% rise. The other big news out of the U.K. today focused on the minutes from Bank of England Monetary Policy Committee’s January rate-setting meetings. Unlike the December MPC meeting, policymakers did not discuss lower rates, leading some to believe the forecasts in the November quarterly Inflation report are on track. Other data released today saw Hometrack house prices fall 0.4% this month, the seventh consecutive month of lower prices. Traders await similar data from Nationwide tomorrow. Cable bids are seen around the $1.8650 level. The euro weakened further vis-à-vis the British pound as the single currency tested bids around the ₤0.6920 level and was capped around the ₤0.6965 level.


The Swiss franc gained ground vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1860 level and was capped around the CHF 1.1940 level. Stops were triggered below the CHF 1.1890 level during North American dealing. Traders await the release of SECO economic forecasts on Friday. Dollar offers are cited around the CHF 1.1970 level. The euro moved marginally higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5510 level and was supported around the CHF 1.5470 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