User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday January 28, 2005 - 22:03:12 GMT -

Share This Story:
| | Email

US Growth The Slowest In Seven Quarters

DailyFX Fundamentals 01-28-05

By Kathy Lien, Chief Strategist of

· US Growth The Slowest In Seven Quarters
· Swiss Monetary Policy To Remain Expansive
· Weak Japanese Data Sends Yen Tumbling


Despite some intraday volatility, the euro has ended the US trading session virtually unchanged. The worse than expected US GDP report induced a modest rally in the EURUSD that was relatively short lived. Better than expected French economic data failed to keep the euro afloat. The number of unemployed people declined by 11k, while the business confidence indicator was revised higher the previous month. The pair traded down to a low of 1.2985 before rallying back above 1.30 on little news. It was actually quite surprising that the euro could not muster a sustainable rally off of the much weaker US release. It appears that everyone is already looking ahead to the busy week next week. Both the OPEC meeting and Iraq elections are taking place this weekend. During the week, the Reserve Bank of Australia, European Central Bank and the Federal Reserve will be meeting to discuss changes to monetary policy while the finance ministers and central bankers of the G7 nations will be meeting to discuss the world economy on February 4th and 5th. In terms of economic data, the most important release next week will be US non-farm payrolls report for the month of January. The euro has been consolidating over this past week and the market will certainly be hoping that next week’s heavy calendar can provide enough catalyst for the currency to break out of its lackluster range trading mode.


Like the euro, the dollar is consolidating against the Swiss franc. Today we learned that US growth in the fourth quarter was the weakest in seven quarters, rising only 3.1% compared to 4.0% growth in the fourth quarter. As expected, the deterioration came primarily from the record trade deficit and drop in exports. The personal consumption expenditures price index actually increased while inflation remained relatively tame. The Federal Reserve will still be raising interest rates next Wednesday despite the weaker report. The lack of a significant dollar reaction following the GDP release highlights the waning significance of the report since most it components are known in advance. Meanwhile, in Swiss news, the KoF leading indicators report fell from an upwardly revised 0.50 to 0.42 in January. This is slightly more than the market expected and will keep Swiss monetary policy intact. SNB President Roth was on the wires this morning reiterating the central bank’s expansive monetary policy and adding that the SNB will act once growth picks up. For the time being though, growth is expected to be weaker this year than last year.


The British pound is modestly weaker today following reports of a decline in mortgage approvals in the month of December. This should not be surprising since overall the UK housing market is clearly slowing even though recent data has suggested that it may be stabilizing. The pound is still one of the best performing currencies this week, led higher by mixed but generally better than expected economic data. The data must be leaving the Bank of England equally confused, which just means that monetary policy will continue to remain unchanged for the time being. The economic calendar for the UK is fairly light in the week ahead with more lending and manufacturing data due for release. As a result, the GBPUSD pair will likely revert to taking direction from the larger events occurring next week and its respective impact on the US dollar.


The myriad of weaker economic data released overnight has sent the dollar trading back above 103 against the Japanese yen. Although the unemployment rate improved, falling from 4.5% to 4.4%, wages decreased while household spending took a sharp dive. The market was actually expecting a –0.6% m/m fall in spending, but instead it plunged 3.8%. Unfortunately, the tighter labor market has not translated to broader improvements in the economy since the Japanese are notorious hoarders of cash. The country has one of the highest savings rate in the world. If Japanese consumers are not coming to the economy’s rescue, it really leads us to question the resiliency of the Japanese economy to the global slowdown. However, the yen will continue to take direction from any G7 related commentary for the time being. Today, new comments from Bank of China’s Yu sent the yen haywire momentarily. He was quoted as saying that “now is the time to revalue.” Beijing though quickly came out and said that his views do not reflect that of the government.


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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 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