User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday March 30, 2010 - 20:16:13 GMT -

Share This Story:
| | Email

Daily GVI Forex Forex View - Restrained Conditions

The Daily Forex View

Restrained Conditions

20:00 GMT- Mar 30 ( The approaching quarter-end, the Japanese fiscal yearend and the Easter break all had an impact on trade Tuesday. Keep in mind that in the interbank forex market, spot trades for two business days ahead for the most part, so this process can extend across several days.. Many will be hanging in through the end of the week because the key March U.S. employment data will be released on Friday when most European and most U.S. markets will be closed. The U.S. markets which are open will close mid-morning once the data are out. Street estimates are for the first strongly positive monthly employment growth in a while (+200 to 300K jobs), with employment bolstered by temporary census hiring and a bounce back from the poor weather in February. So far we have noticed that the March weather related recovery in economic statistics has been minimal.   

The EUR has traded heavy vs. the USD and its crosses Tuesday. Some say much of the EUR selling came out of the EURGBP cross. Earlier in the day there were also widespread rumors about a French sovereign debt downgrade, but Fitch affirmed the French AAA rating and outlook mid-morning in North America. A French downgrade would have been devastating for the EUR. Although the issue seems to be fading, many are still uncertain about whether Greece and the Eurozone have extricated themselves from their recent mess. Even if they have, one must still wonder where the EUR goes once short- covering demand has run its course? It is important to accept that Europe is not unhappy with a weakening currency while inflation is not a pressing issue. 

One can never count on these things panning out, but there has been a lot of chatter today that for a variety of reasons there are a number of long JPY hedges that have to be unwound. Corporations reportedly have over hedged (bought the JPY against) currencies such as the USD  based on projected USD sales. These excessively long JPY positions will have to be closed. This activity will be coming just as the fiscal year ends (Wednesday) and repatriation demand for the JPY wanes. Expect no official opposition to a weaker JPY. Tokyo wants its currency to weaken as one strategy for stimulating growth and encouraging price increases is a weaker currency.

The risk trades are sending a mixed signal today. The commodity currencies (CAD, AUD and NZD) are all higher Oil, gold and U.S. equities are mixed. In U.S. Treasuries, the focus is on the 10-yr note and the psychological 4.00% level. Bonds are the counter to risk trades. This is because risk investments must somehow be financed. When the cost of money moves up  (higher interest rates), the return and allure of risk trades falls.

On Wednesday, Japan will see its March PMI and Australia will see retail sales data. In Europe , European unemployment and  HICP data are due. Switzerland will release the KOF leading indicator. In North America, U.S. mortgage statistics are due along with ADP private jobs survey is set. Furthermore the Chicago PMI, Factory Orders and Weekly crude inventories are due. Canada will release its latest GDP report.

See ECONOMIC CALENDAR for a complete list of future forex market events and consensus data estimates. Go to the forex forum for up-to-date market developments and technical trading ideas.


CHARTS: Forex pairs vs 2-yr note spreads


Forex   EUR vs.     GBP vs. 20:07
EUR 1.3415 -55 JPY 124.46 -13 JPY 139.75 121
GBP 1.5062 85 GBP 89.07 -87 CHF 160.65 149
CHF 1.0666 39 CHF 1.4308 -6 CHF vs.    
JPY 92.78 28       JPY 86.99 -6

EUR/USD is easier. The equity correlation trade has been working off and on. The ECB has been backing away gradually from extraordinary policy. Worries about the weaker Eurozone economies have been a weight off and on.

EUR/CHF is steady.
USD/CHF is higher. The SNB periodically has been intervening in the EURCHF cross. 

USD/JPY is up. EUR/JPY is steady as well. The Japanese  government and BOJ have reconciling their differences and are pursuing ant-deflationary policies.

GBP/USD is up and the EUR/GBP is down. Political uncertainty and mixed data have been triggering instability in the GBP.

COMMODITIES and Commodity Currencies


Commodity         20:07
CAD 1.0195 -16 AUD 0.9182 15 Gold 1103 -5.45
CNY 6.8268 -6 NZD 0.7094 4 WTI 82.46 0.24

The CAD is stronger. The Bank of Canada is becoming less dovish as the economy stabilizes. Canada will be one of the early major economies to raise interest rates.

The AUD and NZD are mixed. Quarterly rate hikes are seen from the RBA this in 2Q10. The RBNZ has signaled a rate hike by mid-year.

Gold and Oil are mixed. Gold, oil, equities and the commodity currencies are all carry trades. Gold is another anti-dollar.



Equities           20:07
NIK 11097 111 DAX 6142 -14 DJIA 10908 9
HSI 21375 137 FTSE 5672 -38 S&P 1173 0
SSEC 3128 4 SMI 6871 0 NAS 2411 8
ASX 4917 20       TSE 12044 28

Far East equity markets closed mixed to higher. European bourses closed mixed. U.S. stocks are mixed. The U.S. 10-yr note is 3.87%, -1bp. 

Fixed income markets are vulnerable as they consider the prospect of an end to excessive Fed ease and large borrowing needs by the the U.S. government. Nevertheless. Fed Funds should remain low for an extended time period.

John M. Bland  is an author, and co-founder and partner of in 1996. Before that, he was a Vice-President and senior dealer in the fx inter-bank and futures trading arm of the  Continental Grain Company in NYC. Previous to that, he was an early member of the Chemical Bank (NYC) corporate advisory service. He also worked in international liability management. John has an MBA from the Hass School at the University of California at Berkeley and a bachelors degree in International 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