User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday June 28, 2010 - 14:35:01 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (28 June 2010)

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2330 level and was capped around the $1.2395 level.  The common currency moved lower as traders were unimpressed with the lack of commitment to reducing global deficits at the Group of Twenty meeting in Toronto this weekend.  Spanish and Italian debt declined today on account of the lack of a global agreement on deleveraging global output from massive fiscal spending programs and new debt issuance.  G-20 officials reported banks needs to raise capital “significantly” and added countries will need to phase in new rules by the end of 2012.  German Chancellor Merkel said the G-20 announcement “is a success (because) industrialized countries as a group accepted this.”  The G-20 noted their “goal” is to reduce deficits in half by 2013.  Bank for International Settlements General Manager Caruana indicated banks’ stress tests may “point to the need to take action” and added it will then “be necessary to take action.”  BIS Chairman Noyer noted “The main task of the public sector is to now design policies that minimize the risks of future financial crisis and promote sustainable growth.  In this regard, international cooperation will continue to be essential.”  Data released in the eurozone today saw May M3 money supply growth decline 0.2% y/y.  Provisional June consumer price inflation data for several German states moderated while the national June CPI figures came in at +0.1% m/m and +0.9% y/y.  On a harmonized basis, CPI was was up 0.0% m/m and 0.8% y/y.  French June consumer confidence data will be released tomorrow.  In U.S. news, data released today saw the May Chicago Fed national activity index move lower to 0.21.  Also, May personal income ticked lower to +0.4% while May personal spending moved higher to +0.2%.  Additionally, the May PCE deflator ticked lower to +1.9% and May core PCE was up 0.2% m/m and 1.3% y/y.  Some traders believe the disinflationary pressures in the U.S. economy could worsen and lead to the Fed “print money.”  The Obama administration’s plan to overhaul financial laws was set back today at least temporarily following the death of Senator Byrd.  Euro offers are cited around the US$ 1.2570 level. 

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥89.45 level and was supported around the ¥89.25 level.  Bank of Japan Deputy Governor Nishimura reported global financial regulations need to be overhauled but warned any “hasty implementation” may inhibit the “fragile” economic recovery.  Nishimura also said the new global regulations need to take into account regional economic differences.  Data released in Japan overnight saw May retail trade worsen to -2.0% m/m and +2.8% y/y while May large retailers’ sales worsened to 4.0%.  Data to be released in Japan overnight include May household spending, the May jobless rate, and May industrial production.  Bank of Japan is expected to keep monetary policy very accommodative and will continue to face pressure from the government to ease policy further, possibly through the purchase of additional Japanese government bonds.  The Nikkei 225 stock index lost 0.45% to close at ¥9,693.94.  U.S. dollar bids are cited around the ¥98.45 level.   The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥110.15 level and was capped around the ¥110.80 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥134.70 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥82.55 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.7959 in the over-the-counter market, up from CNY 6.7921.  Data released in China overnight saw the May leading index decline to 103.44 from the prior reading of 104.36.  Chinese yuan forwards reversed a four-day decline after the U.S. government predicted the yuan would appreciate further.  President Obama speculated the yuan is “going to go up significantly” at the Group of Twenty meeting this weekend.  People’s Bank of China reported it will improve the efficiency and quality of financial information. 

£

The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5015 level and was capped around the US$ 1.5070 level.  Data released in the U.K. today saw the June Hometrack housing survey up 0.1% m/m and 2.1% y/y.  Data to be released tomorrow include May net consumer credit, May net lending secured on dwellings, May mortgage approvals, and May money supply data.  Former Bank of England Monetary Policy Committee member Blanchflower warned the U.K. economy could move into a double dip recession given its current budget.  Chancellor of the Exchequer Osborne recently reported the government plans to reduce spending significantly, reduce welfare payments, and increase taxes on banks.  Cable bids are cited around the US$ 1.4620 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8185 level and was capped around the £0.8235 level.

 

 


CHF

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0825 level and was capped around the CHF 1.0940 level.  The UBS consumption indicator will be released tomorrow followed by the June KOF leading indicator on Wednesday.  SNB will publish balance of payments data for Q1 tomorrow.  Swiss National Bank member Danthine reported deflationary pressures have “practically disappeared.”  Danthine added “If the need (to raise interest rates) was felt, the SNB would be able to react very quickly. But currently, we can work without having to hurry.”  Swiss National Bank is expected to intervene considerably less in the coming months after amassing a very large portfolio of euro reserves to prevent the franc from appreciating too much.  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 1.3355 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.6295 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 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

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