User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday June 24, 2010 - 22:05:03 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (24 June 2010)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2385 level and was supported around the $1.2260 level.  The common currency extended yesterday’s gains that began after the Federal Open Market Committee released a policy statement that was more dovish than expected.  Two-year U.S. Treasury note yields are at or near lifetime lows, reflecting the expectation that U.S. official rates will be on hold for some time.  The Fed yesterday reported it “anticipates that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period.”  There is a spirited ongoing debate as to whether the U.S. economy is likely to experience deflation or will maintain a low-inflation course for some time.  Data released in the U.S. today saw May durable goods orders decline 1.1% y/y, a sharp reversal from the upwardly-revised April print of +3.0%, while the ex-transportation component was up 0.9%, up from April’s result of -0.8%.  Also, weekly initial jobless claims fell to 457,000 and continuing jobless claims fell to 4.548 million.  Data to be released tomorrow include Q1 gross domestic product, the GDP price index, core PCE, and final June University of Michigan consumer sentiment.  The Fed will sell US$ 2 billion in term-deposits on 28 June to drain cash from the banking system.  Traders will pay close attention to the Group of Twenty meetings that are beginning in Toronto.  There is a perception that U.S. officials favour higher deficit spending while Europe favours reduced deficit spending.  In eurozone news, there were renewed concerns today that Greece’s situation could worsen.  Credit default swaps in Greek debt surged 145 bps to a record 1,077 today.  Eurozone data released today saw April industrial new orders up 0.9% m/m and 22.1% y/y.  German May import price data will be released tomorrow along with the Ifo June business climate survey.  French data released today saw May consumer spending up 0.7% m/m and 1.9% y/y while May total jobseekers were higher by 22,600.  Euro offers are cited around the US$ 1.2570 level. 


¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥89.20 level and was capped around the ¥89.95 level.  The pair lost ground even though Japanese economic data revealed the pace of economic growth may be moderating.  It was reported that the total merchandise trade balance more than halved in May to ¥324.2 billion.  Export growth cooled for the third consecutive month but shipments abroad were up 32.1% y/y.  The 1.2% m/m decline is partially attributable to the ongoing strength of the yen and its impact on muting foreign demand for Japanese goods.  Other data released in Japan overnight saw the May corporate service price index decline 0.8% y/y, an improvement from April’s decline of 1.1% y/y.  Data to be released in Japan overnight include June Tokyo-area consumer price inflation and May nationwide consumer price inflation.  The core ex-food and energy components are likely to remain in negative, deflationary territory. The Nikkei 225 stock index gained 0.04% to close at ¥9,928.34.   The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥109.55 level and was capped around the ¥111.00 figure.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥133.45 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥80.75 level. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8001 in the over-the-counter market, down from CNY 6.8140.  Data to be released in China overnight include the June MNI business expectations survey and May industrial profits.  The yuan has retained some of the gains it earned this week following People’s Bank of China’s decision to eventually end its two-year peg to the U.S. dollar and internationalize the yuan.  China’s move to liberalize the yuan should help to counter inflationary pressures and cause China to rely less on foreign trade and focus more on domestic final private demand.  Group of Twenty officials will meet with President Hu in Toronto this week. 


The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.4915 level and was capped around the US$ 1.5010 level.  Cable gave back some of yesterday’s gains that it scored when minutes from Bank of England’s June Monetary Policy Committee meeting were released. They evidenced a 7-to-1 vote to keep the benchmark interest rate unchanged at 0.5%.  MPC member Sentance favoured a 25bps tightening to 0.75%, noting that inflation has proven to be “resilient” since the end of the recession.  In contrast to Sentance’s position, “other members thought that changes to the balance of risks were insufficient to warrant a change in the stance.”  Cable bids are cited around the US$ 1.4620 level.  The euro appreciated vis-à-vis the British pound as the single currency tested offers around the £0.8270 level and was supported around the £0.8180 level.


The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0985 level and was capped around the CHF 1.1065 level.  The Swiss government today reduced its deficit projections for 2011-2013 and now sees a 2011 shortfall of CHF 600 million, considerably less than the deficit of CHF 4.1 billion that was predicted in August 2009.  Swiss National Bank will publish its quarterly bulletin tomorrow.  Data released in Switzerland this week saw the May trade balance decline sharply to CHF 820 million from the upwardly-revised April total of CHF 2.06 billion.  This decline reflects the impact of the strong franc and the limited success Swiss National Bank has had in blunting the impact of the stronger franc through euro-buying intervention.  SNB member Jordan this week said deflation risks have largely gone away and said there is currently no need for intervention.  Swiss National Bank this week reported that its foreign currency investments rose to CHF 239 billion in May from CHF 153.6 billion in April, indicative of the significant amount of franc-selling intervention the central bank has been conducting to protect the Swiss export sector.  U.S. dollar offers are cited around the CHF 1.1470 level.  The euro depreciated vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.3555 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.6435 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