User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday March 18, 2005 - 09:48:26 GMT

Share This Story:
| | Email

Fx Daily Technical Strategy


Dollar inches higher ahead of Fed policy meeting


The dollar edged higher on Friday, extending the previous day's gains as investors pondered whether an upcoming Federal Reserve policy meeting would point to interest rates climbing at a faster pace.

With the market factoring in a quarter percentage point U.S. rate rise at Tuesday's meeting, attention has turned to whether the term "measured" when referring to the pace of monetary tightening will be omitted from the post-discussion report.

"The word 'measured' is going to be the focus of traders all around the world," said a dealer at a European brokerage.

If the term were dropped, that would heighten anticipation of the U.S. central bank stepping up the pace of its interest rate rises a potentially dollar-positive development, traders say.

Rising U.S. rates are likely to bring back some of the funds that have poured into assets that have boomed this year, including stocks in other countries and commodities.

By 06h40 GMT, the dollar fetched around 104.80 yen, versus 104.53 yen in late U.S. trade and near Thursday's high of 104.90 yen.

The euro eased to around $1.3365 from $1.3375 in late U.S. trade.

The dollar rose about 0.4 percent against the yen and 0.3 percent versus the euro on Thursday, boosted by safe-haven flows into U.S. Treasuries and the belief that Wednesday's sell-off on weak U.S. current account deficit data may have been overdone.

However, the dollar's gains were muted by a surprisingly weak business activity report from the Philadelphia Federal Reserve.

After being sold in the past month, the dollar steadied this week, partly due to data showing that the United States was able to fund its massive current account deficit a key factor in the dollar's three-year decline.

Some traders also said that speculators such as hedge funds have started to unwind dollar carry trades, in which they borrowed the dollar to buy high-yielding assets in other countries.

Emerging currencies that had been coveted earlier this year -- such as the Polish zloty, Turkish lira and South African rand have slipped from their recent peaks in the past few weeks.

The Fed has raised rates by a quarter percentage point at six straight meetings, taking the key U.S. rate to 2.5 percent.

Some in the market expect U.S. rates to rise as high as 4 percent by the year-end, though the pace of increases might be tempered by Fed chief Alan Greenspan's desire to sail a steady ship before his term ends next January.

"Greenspan doesn't want to tarnish his legacy, so he will want to make the market as normal as possible," the brokerage dealer said.

Greenspan is due to speak at 17h00 GMT, though he is not expected to comment on the economy or interest rates so near to the policy meeting.

The market hardly budged on comments from Japanese Finance Minister Sadakazu Tanigaki that Tokyo has no plan to change the currency composition of its massive foreign reserves.

Worries that central banks may diversify their reserves away from the dollar have dogged the dollar in the past month.


EURO/DOLLAR: Hesitating around current levels and likely to continue to do so today. Allow for more erratic and messy consolidation roughly between $1.3320 and $1.3420. While below $1.3450/1.3480 we favor another drop to $1.3320/1.3300 and probably no lower than $1.3250. Long term we remind that only a weekly close above $1.3600 confirms an upside breaks.


DOLLAR/YEN: Unable to break out of the current range and unlikely to do so ahead of Monday's holiday in Japan. The US dollar is not oversold against the Yen and momentum has turned neutral. For today allow for yet more consolidation between 104.00 yen and 105.00 yen.


STERLING/DOLLAR: While below the $1.9290/1.9330 area we shall allow for another downside probe of important support between $1.9100 and $1.9000. Note that Cable is not oversold and that momentum is only marginally bullish. For today expect more messy moves, with chart levels not holding well, between $1.9150 and $1.9300. A sustained break below $1.9100 sees a second deeper but brief pullback to $1.9050/1.9000 where prices should try and base slowly. Above $1.9330, while not our favored view, sees a lurch to the 1.9450 area where more consolidation is due.


@13h30 GMT: U.S. February Import Price Index

@14h45 GMT: U.S. March University of Michigan Survey


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