User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Saturday October 10, 2009 - 01:23:03 GMT -

Share This Story:
| | Email

Week ahead Outlook and End of Week Post-mortem for October 10, 2009

Week ahead Outlook and End of Week Post-mortem

A new theme could be seen developing over the latest week. The Reserve Bank of Australia (RBA) got the ball rolling on Tuesday when they hiked interest rates by 25bps to 3.25% earlier than expected. The RBA move reverberated through all the markets after it was seen (prematurely?) as a precursor of a broad policy tightening by central banks generally.

The interest rate theme was enhanced by comments Thursday by comments by Fed Chairman Bernanke who discussed the eventual exit strategy from quantitative ease and prepared the markets for upcoming “test” reverse repos, but also reiterated that interest rates are going to remain low for a long time. Thursday also saw a shaky 30-yr bond auction. Interest rates have become the new theme for trading.

Official intervention in support of the USD is another developing theme. A number of emerging market (EM) central banks bought USD late in the week. Tokyo through a surrogate (Kampo) drew a line in the sand in the USD/JPY at 88.00 and that price was not tested again. ECB President Trichet also commented (weakly) on USD weakness in his post-meeting press conference. The threat of forex intervention in support of the USD is the other major theme.

Monday holidays in major centers will subdue trade to start the new week. With intervention a constant threat, trading could be jumpy in the week ahead. The other thing to watch will be the performance of U.S. bond markets and if any shakiness impacts equities, which ended the week on a stable footing.

Latest Week Analytical Highlights

Friday AM
"Today Japanese FinMin Fujii starting to slip into more traditional language of concern about the valuation of the USD. We had noted that Trichet had done the same thing yesterday. The markets were disappointed yesterday that Trichet had not been more forceful. Many are unhappy with the U.S. “benign neglect” dollar policy. Japanese 88.00 USD/JPY line in the sand? Bernanke reiterates rates will stay low for a long time. "

Thursday PM
"It feels like today’s BOE and ECB decisions were a lifetime ago by now. No rate changes were as expected. In his press conference, President Trichet engaged in what many felt was weak verbal intervention in support of the USD. Odds are this is not the end of this rhetoric.

Bad response to poor 30-yr auction.

There is talk that Kampo had been on the bid Wednesday at 88.00 (unofficial intervention?). Tokyo line in the sand? The $/yen 90-92 level is key level for Japanese exporters..."

Thursday AM
The markets are not expecting rate changes from the BOE or ECB today, but the focus will be on the press conference by President Trichet. Two items that will be watched closely are what he will say about strategy for an eventual movement away from quantitative ease and his currency comments. We expect he will be speaking in favor of a strong USD.

Talk yesterday that Kampo had been on the bid Wednesday at 88.00 (unofficial intervention?). Tokyo drawing a line in the sand? 90-92 is the key level for Japanese exporters.

Wed PM
There was a change in focus early in N.Y. Wednesday following unconfirmed rumors of BOJ intervention in the USD and after a report suggesting that Europe has become unhappy with the policy of benign neglect being practiced by the U.S. with the dollar. JPY was in demand early, even though the economy is weak. Key Japanese exporters might already have leaned on MOF to contain the JPY. Key central bank decisions from BOE and ECB are tomorrow. ECB future policy intentions will be scrutinized. No changes by the ECB or BOE are on the horizon.

Wed AM
"The fallout from the RBA rate hike continues to be felt. It has triggered a run into commodity currencies and commodities. We call them the business cycle trades. That the markets might be getting ahead of themselves, as demand in Europe, North America and Asia still looks to be fragile. The scenario has also manifested itself as USD weakness.

The JPY is also in demand, even though the Japanese economy remains weak. We are waiting to see when the important Japanese export sector starts to lean heavily on the Finance Ministry of the new government to contain the JPY..."

Tuesday PM
"Major developments Tuesday. The Reserve Bank of Australia raised rates by 25bps to 3.25%, for domestic reasons. However, markets took the move as the start of a global effort to start to sop up excess liquidity. Everyone had been prepared for a rate hike before yearend. The timing surprised some, including us.

A report Gulf States are in talks with Russia, Brazil, China, Japan and France to denominate oil sales in a basket of currencies hit the U.S. currency. The change would take nine years. The story was denied by the Saudi central bank and others, but “where there’s smoke…” This would be a blow to the USD reserve currency status..."

Tuesday AM
"The markets have seen major developments early Tuesday. The Reserve Bank of Australia raised rates by 25bps to 3.25%, for domestic reasons, but the markets took the decision as the start of a global effort to start to remove excess liquidity from the system. Surprisingly, virtually everyone had been prepared for a rate hike before yearend for months. It was only the timing that surprised some, including us. A press report that Gulf Arab states have been in talks with Russia, Brazil, China, Japan and France to denominate oil sales in something other than dollars has slammed the U.S. currency. This change would take place gradually over a nine year period. The story has been denied by the Saudi central bank. We have not seen a denial yet by a key player in this story. “Where there’s smoke…” This would be a significant blow to the U.S. as a reserve currency and has weighed on the unit. "

from Monday PM..
"The EUR/USD improved over the day Monday in NYC. Equity traders will say the EUR/USD led the S&P higher, while FX traders will point to higher equity prices as leading the EUR/USD higher. In any case, the two traded closely together. It was pointed out that the EUR/JPY did not trade as closely with the S&P. This was because of the unusual USD weakness vs. the JPY.

This is a big week for central bank meetings with the headline decision the RBA announcement tomorrow. The RBA is thought to be considering a rate hike before yearend. This month might be a bit early, but a November or December move is seen as very likely. The RBA is critical because a RBA move would be the first concrete indication that excessive global liquidity is going to be sopped up. No actions by the ECB, BOE BOJ or Fed are still on the horizon..."

Monday AM
"The tone of the USD had been improving until the latter part of last week, which ended with a poor September employment report. With the dust now having settled, the USD is looking slightly vulnerable. This is a big week for central bank meetings with the headline decision shaping up to be the RBA announcement tomorrow. The RBA is thought to be considering a rate hike before yearend. This month might be a bit early, but a November or December move is seen as very likely. An RBA move would be the first concrete indication that excessive global liquidity is going to be sopped up. No actions by the ECB, BOE BOJ or Fed are seen on the horizon....

John M. Bland is an author and co-founder of Prior that, he was a senior forex dealer in a subsidiary of the Continental Grain Company in NYC. Previously, he was a member of the Chemical Bank corporate advisory service in NYC. He also worked in international liability management. John holds an MBA from the Hass School at the University of California at Berkeley and a BA in Economics from Berkeley.


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