User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday March 3, 2005 - 15:05:23 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (3 March 2005)



The euro traded in a relatively narrow range vis-à-vis the U.S. dollar today as the single currency tested challenged offers around the US$ 1.3165 level and was supported around the $1.3120 level. Many traders are on the sidelines ahead of tomorrow’s all-important February U.S. non-farm payrolls data. A median range of forecasts is calling for new job growth of +210,000 to 235,000 for last month. Data released in the U.S. today saw a nice gain in final Q4 non-farm productivity, up from a preliminary 0.8% to 2.1%, while unit labour costs printed at +1.3%. The dollar moved off of highs yesterday after Fed Chairman Greenspan steered clear of interest rates in congressional budget testimony, disappointing dollar bulls who hoped for some hawkishness after the recent climb in core personal consumer expenditures inflation. Greenspan is also scheduled to speak this morning and traders will be tuned-in to see if he provides any trading-worthy comments. Data released in the eurozone today saw EMU-12 services PMI recede to 53.0 last month from 53.4 in January, weaker-than-expected, as Germany, France, and Italy all reported lower PMI numbers. European Central Bank policymakers convened today and left monetary policy unchanged as expected. ECB President Trichet is scheduled to speak later in the session and traders will closely monitor his comments following yesterday’s press reports that the ECB will cut its forecast for EMU-12 growth in 2005 from 1.9% to 1.6%. Fed Governor Gramlich spoke yesterday and said the U.S. economy is approaching “most definitions” of full employment and added inflation should remain stable. In contrast, San Francisco Fed President Yellen said there is “quite a bit of slack” in the economy despite the low jobless rate. Euro bids are seen around the $1.3085 level with additional buying interest cited just above the $1.3000 figure.

¥

The yen lost minor ground vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥105.15 level and was supported around the ¥104.70 level. The pair, however, remains unable to test technical resistance around the ¥105.35 level. Bank of Japan injected ¥500 billion into the short-term money market today in what amounted to its first emergency fund injection in four months. The central bank was required to do this because it is concerned commercial banks’ reserves may decline below its liquidity target of ¥30 – 35 trillion. It is extra-important for BoJ to avert any financial disruptions ahead of the government’s 1 April action to lift its total guarantee on banks accounts in the event of bank failure. The guarantee cap will be ¥10 million per account from April. BoJ Governor Fukui today reiterated the central bank will maintain its quantitative easing policy in place until the economy recovers further. MoF’s Hosokawa cautioned against a rise in JGB yields while deflation persists. Hosokawa’s comments were seconded by Finance Minister Tanigaki. Data released in Japan today saw Japanese investors buy ¥312.1 billion in foreign bonds and ¥34.9 billion in foreign stocks in the week ending 26 February while foreign investors sold ¥534.4 billion in Japanese bonds and buy ¥181.3 billion in Japanese equities. Japan’s lower house of parliament today officially approved the FY 2005 ¥82.18 trillion budget. Notably, the budget includes a 0.7% reduction in general expenditures. Traders are also carefully watching the price of oil as front-month crude futures recently printed above the US$ 53.00 level, an all-time high. The Nikkei 225 stock index climbed 0.36% to close at ¥11,856.46. Options traders cite ¥104.50, ¥105.00, and ¥105.50 expiries at 1500 GMT today. Dollar offers are seen around the ¥105.35 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥138.05 level and was supported around the ¥137.55 level. Euro offers are cited around the ¥138.30 level while euro bids are seen around the ¥137.25 level. In Chinese news, the press is reporting Premier Wen Jinbao will promote “prudent” macroeconomic policies in a speech on Saturday



The British extended recent gains vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.9060 level, a technical support level related to the $1.8750/ 1.9260 range. Despite a brief retracement to the $1.9120 level during early North American dealing, sterling was mostly given from the Australasian open. Bank of England Monetary Policy Committee member Bell last night said policy should be set “neither too hot nor too cold” and advocated a “pragmatic” approach to monetary policy. Bell is considered a monetary dove and her remarks are notably less hawkish than recent comments from fellow MPC member Lomax and Tucker. Data released in the U.K. today saw CIPS services PMI at 55.1 last month, off from 55.9 in January but still above the “boom-or-bust” 50.0 level. Cable bids are seen around the US$ 1.9005 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.6885 level and remained supported around the ₤0.6860 level.

CHF

The Swiss franc moved lower vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1795 level, briefly testing offers above technical resistance around the CHF 1.1775 area. Data released in Switzerland today saw Q4 GDP decline by a real 0.1% q/q, defying expectations of a +0.2% gain. On an annualized basis, Q4 GDP climbed 1.2%, also below expectations. SECO reported “against the background of a weaker global economy the Swiss economy showed a significant cooling in the fourth quarter…however, this should be a temporary pause in growth and not the start of a new downturn ... early economic indicators point to more moderate growth, but not to sustained stagnation or even to recession.” Other Swiss data released today saw February CPI rise 0.2% m/m and +1.4% y/y, in-line with expectations. Dollar bids are seen around the CHF 1.1730 level. The euro moved higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5470 level while the British pound was marginally higher, testing offers around the CHF 2.2490 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 18 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

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



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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