User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 8, 2009 - 21:42:38 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (8 September 2009)

The euro moved sharply higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4535 level and was supported around the $1.4330 level.  Today’s intraday high represented the pair’s strongest print since 18 December 2009.  Traders are talking about a few key factors. First, trading desks resumed normal operations today after the summer and long U.S. holiday weekend.  Second, one ongoing theme involves the record amount of U.S. Treasury supply projected for this year and its impact on the U.S. dollar.  The Obama administration today sought an increase in the debt ceiling so that more supply can be issued and a major concern among traders is that the value of the U.S. dollar will be eroded.  The United Nations was on the tape over the weekend suggesting Special Drawing Rights should replace become another major global reserve currency alongside the U.S. dollar.  China, which holds an appreciable amount of U.S. dollars, has been very vocal saying the U.S. must protect the value of the U.S. dollar.  Third, it is unlikely the Federal Reserve is going to raise interest rates anytime soon.  While some of the Fed’s quantitative easing programs will expire on their own, the Fed is likely to maintain an ultra-accommodative monetary policy for at least the next couple of business quarters.  In eurozone news, European Central Bank member Weber reported the central bank is closely examining developments in money and credit aggregates.  Weber added “When upward risks to medium-term price stability become apparent, then the time has come to raise the level of monetary policy restriction.  The negative late effects of the preceding (economic) downturn, in particular rising unemployment, have at this point not fully cropped up.”  Weber sees a “gradual” withdrawal from the ECB’s quantitative easing.  German finance minister Steinbrueck today said German gross domestic product growth is likely to contract by between 5% and 6% in 2009.  Data released in Germany today saw July industrial production fell 0.9% m/m and 17% y/y while the July trade surplus rose to €13.9 billion from €12.1 billion.  Euro bids are cited around the US$ 1.3900 figure.


¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥92.00 figure and was capped around the ¥93.10 level.  The main catalyst was a considerably weaker U.S. dollar that fell relative to most other major currencies.  The Japanese government kept its economic assessment unchanged today, noting the economy is “picking up” while reducing its view of the labour market on account of record unemployment.  Economists cite declining income and spending as ongoing risk factors.  Data released in Japan overnight saw August economic sentiment decline to 41.7 from 42.4 in July, the first decline in eight months and the 29th consecutive month the index has been below the neutral 50.0 level.  Other data saw August corporate bankruptcies up 2.4% y/y while bank lending growth decelerated to +1.8% y/y.  Additionally, the August M3 money supply index was up 2% and the unadjusted current account surplus was off 19.4% y/y at ¥1.266 trillion.  Some Japan-watchers believe the new Democratic Party of Japan government may worsen Japan’s finances despite the DPJ’s statements that they’ll do not plan to dramatically increase supply of Japanese government bonds.  The Nikkei 225 stock climbed 0.70% to close at ¥10,393.23.  U.S. dollar offers are cited around the ¥94.75 level.  The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥133.85 level and was supported around the ¥132.80 level.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥151.30 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥88.30 level. In Chinese news, the U.S. dollar lost ground vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8231 in the over-the-counter market, down from CNY 6.8245.  People’s Bank of China adviser Fan Gang yesterday reported “macroeconomic policies must be preemptive. Some PBOC-watchers believe China is unlikely to lift interest rates or reserve requirements within the next six months.

The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.6495 level and was supported around the $1.6485 level.  Chancellor of the Exchequer Darling reported now is not the correct time to reduce U.K. fiscal spending.  Data released in the U.K. overnight saw like-for-like retail sales off 0.1% y/y in August, in contrast to overall retail sales growth of 2.2%.  NIESR reported the U.K. economy returned to growth in the three months ending in August with GDP up 0.2% from a 0.3% decline in the three months to July.  Other data saw July manufacturing output up 0.9% m/m and off 10.1% y/y.  Cable bids are cited around the US$ 1.6030 level.  The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.8790 level and was supported around the ₤0.8730 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 19 Mar 2018
Tue 20 Mar 2018
AA 9:30 GB- CPI
A 10:00 DE- ZEW Survey
Wed 21 Mar 2018
AA 03:00 AU- Employment
AA 9:30 GB- Employment
A 12:30 US- Current Account
AA 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
A A 18:00 US- Fed Rate Decision
A 21:00 NZ- RBNZ Rate Decision
Thu 22 Mar 2018
AA All Day flash PMIs
AA 9:30 GB- Retail Sales
AA 12:00 GB- Bank Of England Decision
A 13:30 US- Weekly Jobless
Fri 23 Mar 2018
AA 12:30 CA- CPI/Retail Sales
A 12:30 US- Durable Goods
A 14:00 US- New Homes Sales

John M. Bland, MBA
co-founding Partner,
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.



Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105