User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday May 26, 2010 - 19:03:24 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (26 May 2010)

The euro depreciated sharply vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2200 figure and was capped around the $1.2385 level.  The common currency came off early in the North American session on a report that Spanish bank BBVA was unable to renew approximately US$ 1 billion in commercial paper funding this month.  While the amount would only represent about 0.2% of the assets on BBVA’s balance sheet, it could portend short-term funding difficulties for other Spanish banks.  Funding strains became evident in the Spanish banking market earlier this week and that precipitated the tie-up of some regional Spanish savings banks.  Many traders believe it is only a matter of time before the single currency tests major technical support at US$ 1.2010 and there are said to be significant options-related orders and stops around the psychologically-important US$ 1.2000 figure.  PIMCO chief Gross reported default may be an option for some highly-indebted countries.  German Chancellor Merkel verbally intervened in favour of a strong euro.  The amount of excess liquidity in the money markets reached a record high today as the European Central Bank continued to keep the system awash with euro.  Money markets are now oversupplied by approximately €440 billion.  ECB member Noyer called on central banks to limit market interventions and avert “moral hazard,” adding they should be “exceptional.”  Data released in Germany today saw June GfK consumer confidence decline to +3.5 from +3.7 in May.  Also, French April consumer spending was off 1.2% m/m and up 1.1% y/y and May business confidence ticked higher to 97.  In U.S. news, data released today saw MBA mortgage applications climb 11.3% while April headline durable goods orders were up 2.9% and the ex-transportation component was off 1.0%.  Additionally, April new home sales were up 14.8% m/m to an annualized rate of 504,000.  GDP numbers and jobless claims data will be released tomorrow.  Euro offers are cited around the US$ 1.2620 level. 



¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥90.65 level and was supported around the ¥90.00 figure.  Bank of Japan Governor Shirakawa and Federal Reserve Chairman Bernanke reported the currency swap operations between the central banks “played a very important role in stabilizing global dollar funding markets during the crisis.”  Bernanke said he does not want to make the facility permanent and Shirakawa said it is important for the markets to know the facility exists as needed.  Minutes of the 30 April BoJ Policy Board meeting revealed the BoJ should “devise ways to avoid its excessive involvement in resource allocation among individual firms.”  Bernanke and Shirakawa both indicated it would be best if their central banks worked to keep inflation right around the 2% level.  Data released in Japan overnight saw the April corporate service price index decline 1.1% y/y while May small business confidence ticked lower to 46.7.  Data to be released tonight include April foreign trade data.  The Nikkei 225 stock index climbed 0.66% to close at ¥9,522.66.  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 ¥110.50 level and was capped around the ¥111.95 level.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥129.05 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥78.45 level. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8290 in the over-the-counter market, down from CNY 6.8315.  Yuan forwards are pricing in virtually no appreciation in the yuan vis-à-vis the U.S. dollar over the next three months.  This follows the conclusion of talks between the U.S. and Chinese governments that offered little indication that a revaluation of the yuan had been solidified.  U.S. Treasury Secretary Geithner said revaluating the yuan is “absolutely” in China’s best interest.  There is now renewed focus on opening China’s bond market to international investors to improve the yuan’s standing as a global reserve currency.


The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.4450 level and was supported around the $1.4330 level.  Bank of England will expand its long-term funding mechanism next month and will incorporate a two-tier auction system that accepts a wider array of collateral to address stresses in the financial system.  Data released in the U.K. today saw April BBA loans for house purchases improve.  Bank of England Monetary Policy Committee member Posen this week said he cannot rule out deflationary pressures in the U.S. and U.K. economies.  Chancellor of the Exchequer Osborne this week reported the new Cameron government hopes to decrease fiscal spending by at least £6 billion in what would be an abrupt shift from the policies of former Prime Minister Brown.  Cable bids are cited around the US$ 1.4110 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8530 level and was capped around the £0.8580 level.


The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1515 level and was capped around the CHF 1.1625 level.  Data to be released in Switzerland tomorrow include Q1 employment numbers.  There remains a 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 1.4175 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."

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

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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