User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday July 7, 2010 - 09:54:37 GMT -

Share This Story:
| | Email

Daily GVI Forex Forex View- Summer Trade


The Daily Forex View

Forex Analysis

Summer Trade

10:00 GMT- July 7  ( Forex Markets are off to a mixed start on Wednesday as it appears that many are on the sidelines due to summer holidays. Nevertheless. price movements have been significant as the markets might be consolidating recent EUR gains. Markets are still focused as well on the recent slowing of the speed of the USD recovery. A weaker than expected ISM Service PMI (53.8) yesterday reinforced the growing recent perception that the economy has been slowing.

A key focus of Forex Trading  Thursday will be on central bank meetings in Europe, namely the Bank of England (BOE) and European Central Bank (ECB) meetings. In both cases, no changes in monetary policy are widely expected. However, dealers will be looking for any hints about future policy from the ECB, The BOE decision details come out later in about two weeks time in their meeting minutes. Weekly jobless on Thursday, are the only  major U.S. data are due over the week.

There has been chatter today that European banks have been selling off excess gold holdings to raise cash. this is said to be a negative for the risk trade. 

CHARTS: Forex pairs vs 2-yr note spreads


Forex   #REF!     GBP vs. 20:03
EUR 1.2621 89 JPY 110.41 45 JPY 132.43 -41
GBP 1.5138 -2 GBP 83.37 60 CHF 160.31 -61
CHF 1.0590 -39 CHF 1.3366 45 CHF vs.    
JPY 87.48 -26       JPY 82.61 6

The EURUSD is lower on the day and the GBPUSD is down. EURGBP is steady. Traders are maintaining a close watch on the European sovereign debt situation In the GBP the U.K. new government is weak. A second election may not be far away. Our bias for the EURUSD and GBPUSD remains negative.

The EURCHF is lower. SNB intervention tactics are confusing. Periodically, the SNB has taken a strong stand in supporting the EUR against the CHF. Flows out of the EUR into the CHF remain an issue for the SNB. The EURCHF made a new record low on Tuesday.

The USDJPY is lower and the EURJPY cross is down. While Japanese public finances are a mess, analysts point out that most JGBs are owned by Japanese, so Japan is not dependent on foreign investment. The government has been pressed the BOJ to promote growth and favors a lower exchange rate.

Some traders focus intently on the Japan vs. U.S. 2-yr note spread (only the U.S. 2-yr moves much).

COMMODITIES and Commodity Currencies

Click on Chart to Enlarge


Commodity         20:03
CAD 1.0554 -91 AUD 0.8509 110 Gold 1192 -17.73
CNY 6.7800 55 NZD 0.6932 42 WTI 72.13 -0.27

The risk trade continues to be turned on and off almost daily. As for the commodity currencies (CAD, AUD and NZD), they are down vs. the USD. The Bank of Canada recently raised interest rates by 25bps but the BOC sent dovish signals afterwards. A strong CAD eases the pressure on the Bank of Canada to tighten. In Australia, RBA may be setting up for an August tightening. The RBNZ is also currently in a tightening mode. Oil and gold are down. Gold is still favored as as refuge from paper money. We have favored AUD, CAD, gold and oil recently, but doubts are creeping in as deflationary pressures mount.

Equities and Bonds are also risk trades. Far East equities closed lower. European bourses are down. U.S. equities are down. The U.S. 10-yr was last 2.92%, -2 bps. 

Bonds are a counter to risk trades because risk investments must be financed. When the cost of money moves up (higher interest rates), the return and allure of risk trades such as equities falls. 



Equities           20:03
NIK 9338 71 DAX 5941 99 DJIA 9716 30
HSI 20084 242 FTSE 4965 130 S&P 1025 3
SSEC 2409 45 SMI 6063 0 NAS 2090 -2
ASX 4276 54       TSE 11174 82


UPCOMING DATA HIGHLIGHTS: In North America, U.S. Weekly Mortgage Statistics are due early. Later the API data will be released. In Canada, the Ivey PMI will be released.

See ECONOMIC CALENDAR for a complete list of future forex market events and consensus data estimates. Go to the forex forum for up-to-date market developments and technical trading ideas.

John M. Bland is an author and co-founder and partner of Prior to, he was a forex trader and a private-label forex analyst for a top Fed watching service in NYC. He has been a corporate forex advisor and also worked in international liability management for a major N.Y. money center bank. John holds an MBA from the University of California at Berkeley and a B.A. in International Economics from that school.


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

Mon 19 Mar 2018
Tue 20 Mar 2018
AA 9:30 GB- CPI
A 10:00 DE- ZEW Survey
Wed 21 Mar 2018
AA 03:00 AU- Employment
AA 9:30 GB- Employment
A 12:30 US- Current Account
AA 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
A A 18:00 US- Fed Rate Decision
A 21:00 NZ- RBNZ Rate Decision
Thu 22 Mar 2018
AA All Day flash PMIs
AA 9:30 GB- Retail Sales
AA 12:00 GB- Bank Of England Decision
A 13:30 US- Weekly Jobless
Fri 23 Mar 2018
AA 12:30 CA- CPI/Retail Sales
A 12:30 US- Durable Goods
A 14:00 US- New Homes Sales

John M. Bland, MBA
co-founding Partner,
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.



Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105