User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday June 7, 2010 - 21:41:18 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (7 June 2010)

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.1875 level and was capped around the $1.1990 level.  The common currency sank further, plumbing loans not seen since March 2006.  Group of Twenty officials convened in Busan, South Korea over the weekend and European officials backpedaled away from the assertion that Hungary faces a “grave” fiscal crisis.  The pair failed to sustain some brief intraday gains earned after it was reported German April factory orders were up 2.8% m/m and off 29.6% y/y.  German data to be released tomorrow include April trade numbers and current account figures along with April industrial production.  Eurozone data released today saw the EMU-16 Sentix investor confidence index improve to -4.1 from the prior reading of -6.4.  Eurogroup Chairman Juncker reported eurozone budgets will remain “neutral” in 2010 and become “clearly restrictive in 2011” when the economic recovery is expected.  Europe is moving ahead with deficit cuts despite pleas from the U.S. and elsewere for “stronger domestic demand growth” in countries with trade surpluses like Germany.  Today, Germany announced a four-year €80 billion package of spending cuts and tax increases and implored other eurozone member states to follow suit.  The European Commission now estimates the eurozone economy will expand 2.5% next year.  European officials signed into law a eurozone rescue package totaling €440 billion in national guarantees.  The financial backstop is the largest component of a €750 billion package designed to combat the sovereign credit crisis.  In U.S. news, data released today saw April consumer credit reverse course and climb US$ 1.0 billion, up from a downwardly revised March print of –US$ 5.4 billion.  Fed Vice Chairman nominee Yellen reported “significant headwinds to stability remain.”  Yellen is known to be in favour of an inflation target.  Euro offers are cited around the US$ 1.2330 level. 

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥92.00 figure and was supported around the ¥90.95 level.  Vice finance minister Noda may soon become Japan’s ninth finance minister in four years and he would likely support plans for spending cuts.  Japan’s central government debt load reached the equivalent of US$ 9.7 trillion at the end of March, compared with the U.S. outstanding balance of US$ 8.3 trillion in U.S. Treasury securities.  Noda said it is important to “map out a plan to restore fiscal health” so that long-term yields do not “jump.” Noda is expect to unveil the government’s mid-term fiscal strategy plan before Group of Twenty officials convene in Toronto later this year.  The yen continues to remain supported on account of heightened global risk aversion, primarily on account of the dire situation involving European sovereign credit.  Japanese business lobby Keinanren verbally intervened against the climbing yen overnight.  Bank of Japan Governor Shirakawa this weekend reported “I felt that the perception that Japan’s economic recovery is considerably stronger than initially expected is spreading among other nations…The Bank of Japan has made it clear its intention to keep the extremely accommodative monetary environment and it’s making efforts for further expansion of domestic demand.”  Many data will be released in Japan tonight including the Q3 manpower survey, April current account, April trade balance, and May bank lending.  The Nikkei 225 stock index lost 3.84% to close at ¥9,520.80.  The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥108.05 level and was capped around the ¥110.15 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥133.40 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥77.95 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8324 in the over-the-counter market, up from CNY 6.8288.  Data to be released in China tonight include the Q3 manpower survey.  People’s Bank of China Governor Zhou reported domestic economic conditions will dictate when China exits its monetary stimulus policies. 

£

The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.4515 level and was supported around the $1.4385 level.  British Chamber of Commerce called on Bank of England to “persevere with expansionary policies…The threat of a double-dip recession is particularly acute at this early stage of the upturn, and the precarious eurozone situation, alongside upheavals in global financial markets, increase risks to the U.K.”  Bank of England’s monetary policy decision will be released on Thursday.  Cable bids are cited around the US$ 1.4220 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8240 level and was capped around the £0.8300 figure.

 

 

 

CHF

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1670 level and was supported around the CHF 1.1585 level.  Swiss National Bank President Hildebrand last week said “There’s a consensus that the financial system needs to become more resilient.  It’s absolutely decisive that the regulatory focus remains on capital, liquidity, and a diffusion of the too-big-to-fail problem.”  There is increasing speculation again that Swiss National Bank may reduce its franc-selling intervention on account of the massive amount of market operations it has undertaken already this year.  SNB member Leuthard verbally intervened against the strong franc last week.  U.S. dollar bids are cited around the US$ 1.1420 level.  The euro gained ground vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.3940 level while the British pound gained ground vis-à-vis the Swiss franc and tested offers around the CHF 1.6885 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