User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday July 22, 2010 - 22:47:30 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (22 July 2010)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2930 level and was supported around the $1.2735 level.  The common currency reversed yesterday’s intraday losses as risk appetite improved, driving some global equity markets higher.   Data released in the U.S. today saw weekly initial jobless claims climb to 464,000 from a revised 427,000 while continuing jobless claims climbed to 4.487 million from 4.710 million.  Also, June existing home sales were off 5.1% m/m to an annualized 5.37 million units  while June leading indicators came off 0.2% from the previous tally of 0.5%.   Also, the May house price index printed at +0.5% m/m, down from +0.9%.  Federal Reserve Chairman Bernanke called for an extension of the Bush tax cuts and cited the elevated U.S. unemployment rate as the biggest problem in the U.S. economy.  Bernanke also cited additional monetary easing options including reducing the rate paid on banks’ reserves held at the Fed and purchasing more securities.  New York Fed President Dudley today said the “road to recovery is turning out to be a bit bumpy.”  In contrast, former Fed Chairman Greenspan said the Bush tax cuts should not be continued and noted an end to cuts “would probably” slow economic growth.  In eurozone news, eurozone data released today saw the July PMI composite improve to 56.7 from the prior reading of 56.0 while EMU-16 PMI services and manufacturing improved.  Also, EMU-16 May industrial new orders were up 3.8% m/m and 22.7% y/y.  Moreover, EMU-16 July consumer confidence improved to -14 from the revised reading of -17.  German July PMI manufacturing and services improved and data to be released tomorrow include July Ifo business sentiment.  French data released today saw July PMI manufacturing decline while PMI services moved higher.  French July consumer confidence remained unchanged at -39.  Results of stress tests on up to 91 European banks will be reduced tomorrow.  Euro offers are cited around the US$ 1.2955 level. 



¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥86.35 level and was capped around the ¥87.20 level.  The pair continued to inch lower as traders tested the resolve of the Japanese government to intervene in a bid to stop the yen’s appreciation.  The government has not officially intervened for several years but there are increasing whispers that Japanese monetary authorities will try to protect the ¥85 level.  Bank of Japan Deputy Governor Yamaguchi suggested the central bank is considering other policy options, noting “Ways to strengthen the foundations for economic growth are not necessarily limited to the measure the bank has introduced.  We will continue to make sufficient considerations while exploring various possibilities.” Minutes from the June BoJ Policy Board were released yesterday in which policymakers said the central bank should consider additional policy options other than the ¥3 trillion loan scheme recently announced. Vice finance minister Ikeda said the government “wants to avoid excessive gains in the yen” while trade minister Naoshima said the yen’s gains pose a threat to economic growth.  The government’s ability to provide additional fiscal stimulus is limited by its commitment to cap annual fiscal spending at ¥71 trillion.  Former BoJ Governor Fukui cited elevated global financial uncertainty.  Data released in Japan overnight saw May all-industry activity index decline to +0.2% from the revised April print of +1.9%.  The Nikkei 225 stock index lost 0.62% to close at ¥9,220.88.  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 ¥112.70 level and was supported around the ¥110.00 figure.  The British pound moved lower vis-à-vis the yen as sterling tested offers around the ¥133.25 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥83.75 level. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.7797 in the over-the-counter market, down from CNY 6.7767.  Premier Wen said policy stability should be carried forth in the second half of the year.  There are rumours the Chinese government could ease lending controls and Wen said China may “improve” stimulus measures to boost domestic consumption.  Ratings agency S&P said Chinese banks are facing escalating credit risks and non-performing loan growth.  PBoC also said it will seek to avoid major fluctuations in the yuan’s exchange rate.


The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5295 level and was supported around the US$ 1.5150 level.  Data released in the U.K. today saw June headline retail sales climb 0.7% m/m and 1.3% y/y while the ex-autos component was up 1.0% m/m and 3.1% y/y.  Data to be released tomorrow include Q2 gross domestic product and June BBA loans for house purchases.  Minutes from the July Bank of England Monetary Policy Committee meeting were released yesterday in which policymakers voted 7-to-1 to keep the Bank rate unchanged at 0.5%.  The minutes read “On balance, most members thought that it was appropriate to leave the stance of monetary policy unchanged. The committee considered arguments in favour of a modest easing in the stance of monetary policy. The softening in the medium-term outlook for GDP growth over recent months would put further downwards pressure on inflation, once the impact of temporary factors had waned.” MPC member Sentance voted again to raise interest rates.  There is talk of a possible three-way split on the MPC this year if one or more policymakers voted to expand policy accommodation.  Some believe the MPC may resort to increasing its asset purchase program. Cable bids are cited around the US$ 1.5140 level.  The euro appreciated vis-à-vis the British pound as the single currency tested offers around the £0.8465 level and was supported around the £0.8385 level.



The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0395 level and was capped around the CHF 1.0515 level.  Data to be released in Switzerland on 27 July include the June UBS consumption indicator.  UBS reported the Swiss National Bank may intervene again if the euro/ franc rate falls “sharply.”  SNB reported its euro holdings doubled in the second quarter on intervention.  Most dealers believe SNB has been forced to intervene less on account of all of the euro-denominated assets on its balance sheet but some note the SNB will likely continue to intervene at opportune levels.  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 1.3460 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.5850 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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

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