User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday January 22, 2010 - 21:53:05 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (22 January 2010)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4180 level and was supported around the $1.4065 level.  The common currency clawed back one day after the Obama administration introduced some policy initiatives that would greatly alter the landscape of the U.S. banking industry.  There is a general sense among investors that the plan to curtail banks’ activities and limit their size could dissuade some foreign investors from investing in U.S. equities, particularly banking shares.  Also, the plan to limit banks’ proprietary trading activities could boost the U.S. dollar and force traders to unwind their carry trades that were funded by borrowing and selling the dollar in the first place in favour of higher-yielding assets.  Many dealers see Obama’s plan as a chance to try and save face following the Democratic Party’s humiliating defeat this week in the state of Massachusetts, a defeat that has at least temporarily derailed his health care agenda.  Some political pundits believe Obama will try to capitalize on some populist anti-bank sentiment but many economists believe the plan could be a net negative for the banking sector and the U.S. economy at large.  While further deleveraging of banks’ balance sheets may be needed, many dealers believe the Obama administration is going about it the wrong way.  There was also news today that the House Financial Services Committee may seek to abolish Fannie Mae and Freddie Mac.  Data to be released in the U.S. next week include December existing home sales and Dallas Fed manufacturing activity data on Monday.  Traders are also paying very close attention to the Senate reconfirmation vote for Fed Chairman Bernanke.  There is some grumbling that Bernanke may lack sufficient votes in the Senate for his reconfirmation even though the Senate Banking Committee suggested a positive vote in his favour.  In eurozone news, European Central Bank member Gonzalez-Paramo reported it is Greece’s responsibility to solve its own problems and said the idea of trying to arrange a loan for Greece is “absurd.”  Data released in the eurozone today saw November industrial new orders up 1.6% m/m, a sharp reversal from October’s 2.2% decline, but were off -1.5% y/y.  Euro bids are cited around the US$ 1.3885 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥89.75 level and was capped around the ¥90.55 level.  Traders continued to lift the yen following the Obama administration’s decision to try and limit the size of U.S. banks and drastically curtail some of their profitable business activities.  Finance minister Kan said “it would be going too far if the government asked the Bank of Japan to implement specific monetary policy measures.”  Finance minister Kan yesterday reported the Chinese yuan may be discussed at the upcoming Group of Seven meeting and said any such discussion could have a “significant impact” on Japan.  Canadian finance minister Flaherty said Kan has been clear about his desire to discuss the yuan at the meeting in Canada, contrary to what Kan has said.  Data released in Japan today saw November all industry activity climb +0.1% m/m, down from October’s +1.1% gain.  Some BoJ-watchers, including Bank of Tokyo-Mitsubishi, said the central bank may adopt measures to weaken the yen following renewed risk aversion and the chance of a “deflationary shock.” BoJ Governor Shirakawa said it is “critical” that the central bank helps to put the nation’s economy back onto a “sustainable growth path.” The Nikkei 225 stock index lost 2.56% to close at ¥10,590.55.  U.S. dollar offers are cited around the ¥94.75 level.  The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥126.50 level and was capped around the ¥128.20 level.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥144.65 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥86.20 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8268 in the over-the-counter market, down from CNY 6.8269.  Data released in China this week saw inflation accelerate 1.9% in December with gross domestic product climbing to 10.7% and this renders it likely People’s Bank of China will tighten monetary policy this year.  PBoC Governor Zhou reaffirmed the central bank’s moderately loose policy and noted the need to control inflation. 

The British pound came off vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.6075 level and was capped around the $1.6280 level.  Sterling was kept on the defensive after the U.K. government lifted its terrorist warning to “severe” from “substantial.”  Data released in the U.K. today saw December retail sales expand a modest 0.3% y/y, up from November’s 0.3% decline but below expectations.  Retail sales were up 2.1% y/y and this means the U.K. holiday season registered its slowest growth in eleven years. Cable bids are cited around the US$ 1.6030 level.  The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.8785 level and was supported around the ₤0.8685 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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


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



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