User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 11, 2010 - 21:45:00 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (11 May 2010)

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2665 level and was capped around the $1.2800 figure.    The common currency extended yesterday’s losses as traders expressed skepticism that the rescue packages announced by eurozone officials early yesterday will suffice in addressing the bloc’s major debt woes.  In fact, the common currency traded lower than Friday’s close following last week’s major sell-off.  Ireland’s budget deficit-to-GDP ration remains 14.3% and Greece’s remains 13.6%, underscoring the major debt problems faced by many eurozone countries including these, Spain, Portugal, and Italy.  There are renewed forecasts that the common currency will eventually decline to parity with the U.S. dollar.  European Central Bank member Nowotny reported “the intention is to get again control of the unorderly markets and I think this is a goal that has been achieved remarkably in an effective way.”  EMU-16 central banks yesterday began purchasing eurozone government bonds in the secondary market as a quantitative easing measure.  ECB member Wellink went one step further today, saying “If there are excessive deficits at a certain moment, fines should be considered more quickly. Deny countries who are erring the access to European structural funds.”  Data released in Germany today saw the April consumer price index decline 0.1% m/m and up 1.0% y/y while the EU-harmonized index was off 0.1% and up 1.0% y/y.  Also, the April wholesale price index was up 1.7% m/m and 6.0% y/y.  In U.S. news, Fed Chairman Bernanke reported the eurozone’s approximate US$ 1 trillion aid package is “basically not a panacea” and called for “fundamental underlying changes” in countries’ economies.  The Senate today approved an amendment to a regulatory overhaul bill that will audit the Fed’s emergency-lending programs during the financial crisis over the past couple of years.  Richmond Fed President Lacker reported “We are already seeing evidence that employment is on the path to steady growth.”  Data released in the U.S. today saw March wholesale inventories decline to +0.4% from the prior reading of +0.6%.  Euro bids are cited around the US$ 1.2585 level.


¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥92.21 level and was capped around the ¥93.40 level.  Traders again moved back into yen as doubts resurfaced regarding the adequacy of the €500 billion deal announced over the weekend to support debt-laden eurozone countries.  Bank of Japan Deputy Governor Yamaguchi yesterday said the central bank has “no need to alter the outlook in our semi-annual economic report” following recent market volatility.  Finance minister Kan reported equity and currency markets will “start to stabilize.”  Minutes from last month’s BoJ Policy Board meeting were released yesterday and policymakers observed “balance sheet adjustments in the banking sector and the fiscal deficit problem in some European countries might further slow the pace of economic recovery” in the region.  BoJ yesterday injected ¥2 trillion into the financial system for a second day, the first back-to-back same-day operations since October 2008.  Also, BoJ reestablished a U.S. dollar currency swap agreement with the Fed and other central banks this weekend to help stabilize global financial markets.  Data to be released in Japan overnight include April official reserve assets.  The Nikkei 225 stock index lost 1.14% to close at ¥10,411.10.  U.S. dollar offers are cited around the ¥96.85 level.  The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥116.90 level and was capped around the ¥119.40 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥139.65 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥82.95 level. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8293 in the over-the-counter market, up from CNY 6.8266.  People’s Bank of China adviser Xin Bin said the central bank’s quarterly report released yesterday is a signal the central bank will permit the yuan to appreciate vis-à-vis the U.S. dollar.  The central bank yesterday yielded some clues regarding the possibility of ending its U.S. dollar peg, reporting it will manage the yuan “with reference to a basket of currencies” – language that was absent from the central bank’s previous quarterly summary.  Many data were released in China overnight. First, the April trade balance expanded to US$ 1.68 billion from the prior reading of –US$ 7.24 billion.  Second, April NDRC housing prices improved to 12.8 from the prior reading of 11.7.  Third, April producer prices were up 6.8% y/y and April consumer prices were up 2.8% y/y.  Fourth, April retail sales growth decelerated to +18.5% y/y.  Fifth, April industrial production was up 17.8% y/y.  Sixth, April new yuan loans expanded to CNY 774.0 billion from the prior reading of CNY 510.7 billion.



The British pound appreciated sharply vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5005 level and was supported around the $1.4720 level.  Cable moved higher after Prime Minister Brown resigned from office and tendered his resignation to Her Majesty the Queen, who quickly accepted incoming Prime Minister Cameron’s plea to form a new government.  Sterling moved higher on this news on the premise that a Tory-Liberal Democrat coalition may be more successful in reducing the U.K.’s bloated debt and deficit problems than a Labour-Liberal Democrat coalition.  Today’s political drama ends more than twelve years of uninterrupted Labour rule.  Data released in the U.K. saw the April RICS house price balance increase to 17% from the prior reading of 9%.  Also, March industrial production was up 2.0% m/m and 2.0% y/y with manufacturing production up 2.3% m/m and 3.3% y/y.  The April NIESR GDP estimate will be released tonight.  Cable bids are cited around the US$ 1.4335 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8475 level and was capped around the £0.8615 level.


The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1035 level and was capped around the CHF 1.1135 level.  Data released in Switzerland today saw the April SECO consumer confidence survey improve to +14 from the prior reading of -7, exceeding expectations.  April producer and import prices will be released tomorrow.  Swiss National Bank Chairman Hildebrand reiterated the central bank’s policy is prepared to fight inflation and deflation and reiterated the SNB will not permit an excessive appreciation of the franc.  U.S. dollar offers are cited around the CHF 1.1270 level.  The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4030 level while the British pound appreciated vis-à-vis the Swiss franc and tested offers around the CHF 1.6620 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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 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