User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday July 5, 2010 - 17:07:34 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (5 July 2010)

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2510 level and was capped around the $1.2565 level.  Liquidity was reduced on account of U.S. markets being closed in observance of the U.S. Independence Day holiday.  Traders will pay close attention to tomorrow’s fixed-term deposit operation of the European Central Bank following last week’s operation where it failed to fully sterilize the €55 billion in previously purchased government debt.  The ECB has been purchasing about €4 billion per week of eurozone debt over the past four weeks to help keep a lid on borrowing costs.  Three-month euro Libor reached a nine-month high today of 0.731% while three-month U.S. dollar Libor fell to 0.531%.  The European Central Bank is expected to keep borrowing costs unchanged this week when policymakers announce their decision on Thursday.  ECB President Trichet this weekend urged a further consolidation in eurozone fiscal policies to “reinforce confidence.”  ECB member Tumpell-Gugerell reported “We have the right policies in place to ensure the return to the levels of growth we have seen prior to the crisis…The economy is expanding and we see a positive growth outlook.”  Data released in the eurozone today saw EMU-16 June PMI services tick higher to 55.5 while the June PMI composite remained steady at 56.0.  Also, July Sentix investor confidence improved to -1.3 from the prior reading of -4.1 and May retail sales improved to 0.2% m/m and 0.3% y/y.  Additionally, German June PMI services ticked higher to 54.8 while French PMI services came off to 60.8.  In U.S. news, data to be released tomorrow include the June ISM non-manufacturing survey.  Traders are still talking about the possibility of a double dip recession in the U.S. economy.  Many dealers believe the Federal Open Market Committee will keep borrowing costs unchanged until 2011.  Friday’s jobs data in the U.S. evidenced job losses and many dealers believe these data are presaging additional economic weakness.  Euro offers are cited around the US$ 1.2720 level. 

 

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥88.00 figure and was supported around the ¥87.65 level. Bank of Japan official Toyama said the Tokyo interbank offered rate is “substantially” deviating from appropriate levels.  Tibor fell today for a fourth consecutive day to 0.380%, its lowest level since July 2006.  The yen will likely remain strong provided growth estimates for the U.S. and Europe remain muted, absent any intervention from the Japanese government.  The Japanese media continues to report Bank of Japan may lift its 2010 economic growth forecast to around 2.5% from the current forecast of 1.8%.  Dealers are paying close attention to Japanese politics where Prime Minister Kan’s Democratic Party of Japan party could lose its upper-house majority on 11 July.  Kan and the DPJ are seeking to increase taxes.  Data to be released in Japan this week include the May leading index and coincident index tomorrow followed by May machine orders and current account data on Wednesday.  The Nikkei 225 stock index climbed 0.69% to close at ¥9,266.78. U.S. dollar bids are cited around the ¥86.29 level.   The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥109.70 level and was capped around the ¥110.40 level.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥133.35 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥82.20 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.7758 in the over-the-counter market, up from CNY 6.7716.  The big news in China was overnight was a slide in the HSBC June services index to 55.6 from 56.4 and these data follow recent weaker data in the manufacturing sector.  Some economists are scaling back their Chinese GDP growth forecasts for the fourth quarter to an annualized 8%.  Notably, the Chinese economy expanded 11.9% y/y in the first three quarters of 2010.  Premier Wen this weekend reported the Chinese government will remain flexible on account of “very complicated” economic situations in China and abroad.  Other data released today saw the revised current account surplus at US$ 53.6 billion in the first quarter, up from the previous US$ 40.9 billion report.  Data to be released in China this week include the Q2 business climate index on Thursday. 

 

£

The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5090 level and was capped around the US$ 1.5200 figure.  Bank of England is expected to keep its headline Bank rate target unchanged this week and keep its asset purchase program unchanged at £200 billion.  It was announced that economic forecaster Martin Weale will join the BoE Monetary Policy Committee as an external member.  Traders will pay very close attention to Thursday’s MPC vote to see if there are additional calls for higher rates.  Data released in the U.K. today saw June PMI services move lower to 54.4 from the prior reading of 55.4.  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 £0.8295 level and was supported around the £0.8250 level.


CHF

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.0675 level and was supported around the CHF 1.0620 level.  Data released in Switzerland today saw May retail sales growth accelerate to 3.8% y/y from the prior reading of 1.3% y/y.  June consumer price inflation data will be released tomorrow and are expected to print around 0.1% m/m and 0.9% y/y.  Swiss National Bank President Hildebrand said he is “closely monitoring” the franc, adding its fluctuation has “clearly increased.”  U.S. dollar offers are cited around the CHF 1.0980 level.  The euro depreciated vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.3310 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.6050 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