User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday July 6, 2010 - 17:05:40 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (6 July 2010)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2655 level and was supported around the $1.2480 level.  The common currency reached its highest level since 21 May as dealers were less risk-averse on the heels of stronger global equity markets.  Liquidity was normalized following the U.S. Independence Day holiday weekend.  Yields on German and French government bonds are hovering near record lows and Austria successfully sold €1.32 billion in bonds today.  Germany plans to auction as much as €5 billion in ten-year debt tomorrow.  Most traders expect European Central Bank will keep monetary policy unchanged on Thursday.  ECB President Trichet will speak after the ECB’s decision is announced and he is expected to discuss liquidity provisions by the ECB and  the stress tests that will be conducted on eurozone banks.  An anonymous ECB official today reported the central bank is pleased with the manner in which the euro has stabilized and suggested the ECB may continue with its extraordinary monetary policy measures until 2011.  There is also talk that German ECB officials want to end the ECB’s asset purchase program this year.  ECB official Noyer said economic growth needs to be “balanced and sustainable.”  Data to be released in the eurozone tomorrow include EMU-16 Q1 gross domestic product, German May factory orders, and the French May trade balance.  In U.S. news, data released today saw the June ISM non-manufacturing index decline more-than-expected to 53.8, lower than the May print of 55.4.  Data to be released tomorrow include MBA mortgage applications.  Richmond Fed President Lacker was quoted in the Japanese media as saying consumer spending is “moderately strong” while Dallas Fed President Fisher reported households are “cautious.”  Economists are closely scrutinizing U.S. economic data to see if the recent moderation in economic growth worsens and the U.S. encounters a double dip recession.  The U.S. economy is also experiencing disinflationary pressures.  Euro offers are cited around the US$ 1.2720 level. 


¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥87.95 level and was supported around the ¥87.40 level.  U.S. dollar sentiment eroded further and the pair stopped just short of testing key technical support around the ¥87.20 level.  The yen reversed course and was given across the board as dealers cited better risk-taking that followed the release of stronger-than-expected Australian May trade surplus data.  Data released in Japan overnight saw the May leading index fall to 98.7 while the May coincident index ticked lower to 101.2.   Bank of Japan official Toyama yesterday said the Tokyo interbank offered rate is “substantially” deviating from appropriate levels.  Tibor fell yesterday 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 May machine orders and current account data on Wednesday.  The Nikkei 225 stock index climbed 0.77% to close at ¥9,338.04.  U.S. dollar bids are cited around the ¥86.29 level.   The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥110.85 level and was supported around the ¥109.15 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥133.65 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥83.05 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.7805 in the over-the-counter market, up from CNY 6.7758.  The State Administration of Foreign Exchange noted a depreciation in the U.S. dollar will not cause “real” losses from foreign reserve investments.  Agricultural Bank plans to raise as much as US$ 20.1 billion by selling equity in Shanghai and Hong Kong.  Dealers are reporting People’s Bank of China has purchased significant amount of Japanese government bonds, approximately US$ 6 billion between January and April.  The big news in China yesterday 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. 


The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5225 level and was supported around the US$ 1.5080 level.  Bank of England is expected to keep its headline Bank rate target unchanged this week at 0.50% and keep its asset purchase program unchanged at £200 billion.  BCC today reported the BoE is unlikely to change its Bank Rate before May 2011.  It was announced yesterday 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.  Traders await the release of the BRC June shop price index.  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 £0.8325 level and was supported around the £0.8265 level.


The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0560 level and was capped around the CHF 1.0665 level.  Data released in Switzerland today saw June consumer price inflation off 0.4% m/m and up 0.5% y/y, a moderation of price pressures.  The June unemployment rate will be released on Thursday and is expected to come in around 3.7%.  Swiss National Bank’s foreign currency holdings declined last month to CHF 225.8 billion from CHF 232.1 billion in May as SNB officials stopped selling francs for euro or U.S. dollars.  Swiss National Bank President Hildebrand yesterday 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 appreciated vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.3410 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.6035 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