User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 25, 2010 - 13:41:09 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (25 May 2010)

The euro depreciated sharply vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2175 level and was capped around the $1.2370 level.  The situation in Europe worsened dramatically overnight.  First, yieds on German government 10-year bunds reached a record low, reflecting the safe haven play that many nervous investors and traders are seeking.  Yields on French 10-year debt also reached a record low overnight.  Second, the German government has now proposed a ban on the naked short-selling of all German equities, a broad expansion of the plan announced two weeks ago.  In addition, Germany’s plan calls for a ban on the short-selling of certain types of eurozone bonds and certain types of credit default swaps.  Other eurozone countries have not yet followed suit with similar banks and the common currency is suffering as a result of the perception of a lack of cohesion with regard to policymaking.  Third, there is a sense that more European banks will fail.  Yesterday, four regional Spanish savings banks announced a plan to combine forces to stave off concerns  following the nationalization of one savings bank.  The yield spread between Spanish 10-year bonds and German 10-year bunds widened fourteen basis points to 154 bps, the highest levels since 7 May.  Fourth, there is talk the European Union will introduce a new up-front tax on banks to help stabilize the financial system.  European Central Bank member Nowotny reiterated the ECB is “fiercely independent” and said it is not engaging in quantitative easing.  Data released in the eurozone today saw EMU-16 March industrial new orders up 5.2% m/m and 19.8% y/y.  In U.S. news, the March Case-Sehiller home price index was off a marginal 0.05% m/m and up 2.35% y/y.  Other data to be released today include the May Richmond Fed manufacturing index and March house price index.  St. Louis Fed President Bullard reported the trajectory of U.S. interest rates depends on the economic recovery into 2011.  Euro offers are cited around the US$ 1.2620 level. 

 

 

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥89.25 level and was capped around the ¥90.30 level.  Dealers added to long yen positions on escalating concerns about the European debt crisis and a worsening regional situation involving the two Koreas.  North Korean leader Kim Jong-Il is said to have ordered his military on “combat footing” while South Korea is said to have restarted “psychological warfare” against the north.  These measures are in response to the sinking of a South Korean submarine, allegedly by North Korea.  Japan strategy minister Sengoku warned the European economy will not recover soon.  Three-month Libor rates for yen loans grew to 0.2456% and three-month U.S. dollar Libor is now 0.50969%, the highest level since 16 July.  Traders await the release of April Bank of Japan Policy Board meeting minutes overnight along with the April corporate service price index.  The Nikkei 225 stock index lost 3.06% to close at ¥9,459.89.  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 ¥108.80 level and was capped around the ¥111.65 level.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥127.65 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥76.40 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8315 in the over-the-counter market, up from CNY 6.8287.  Data released in China overnight saw the April leading index decline to 104.36.  The State Administration of Foreign Exchange indicates China has not had large-scale “hot money” inflows ahead of the possible revaluation and appreciation of the yuan.  People’s Bank of China sold one-year bills at an unchanged yield of 1.9264% in open-market operations today, the seventeenth consecutive time it has not changed yields.  Some dealers believe PBoC will increase the yield on its bills to absorb excess liquidity in the money markets. Chinese yuan forwards came off their most in fifteen months on the European debt crisis today, bringing into question whether or not China will revalue the yuan with the global economy on a relatively weak footing.  U.S. Treasury Secretary Geithner characterized U.S.-Chinese talks on the yuan as “encouraging.”  Yesterday, People’s Bank of China adviser Li Daokui today said “Politically it is worthwhile, it makes sense, for the two sides – China and the U.S. – to see some progress in renminbi reform in the near future.”

£

The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.4255 level and was capped around the $1.4420 level.  Data released in the U.K. today saw Q1 gross domestic product up 0.3% q/q and off 0.2% y/y.  Bank of England Monetary Policy Committee member Posen said he cannot rule out deflationary pressures in the U.S. and U.K. economies.  Chancellor of the Exchequer Osborne yesterday reported the new Cameron government hopes to decrease fiscal spending by at least £6 billion in what would be an abrupt shift from the policies of former Prime Minister Brown.  Outgoing Bank of England Monetary Policy Committee member Barker reported more difficult times are ahead for the U.K. economy.  Cable bids are cited around the US$ 1.4110 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8510 level and was capped around the £0.8585 level.

CHF

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1695 level and was supported around the CHF 1.1580 level.  Data released in Switzerland today saw the April UBS consumption indicator improve to 1.763 from the revised print of 1.682 in March.  There is a growing sense among traders that Swiss National Bank may be unable to keep up with market speculation and may be forced at some point to abandon its franc-selling intervention operations on account of the major global bearish sentiment that overhangs the common currency.  U.S. dollar bids are cited around the US$ 1.1110 level.  The euro lost ground vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4205 level while the British pound lost ground vis-à-vis the Swiss franc and tested bids around the CHF 1.6585 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