User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday July 29, 2010 - 22:01:53 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (29 July 2010)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3105 level and was supported around the $1.2975 level. The common currency traded above the $1.3100 figure today for the first time since 4 May 2010 as improving risk appetite continued to support higher-yielding currencies.  Data released in the U.S. today saw weekly initial jobless claims decline to 457,000 from a revised 468,000 print last week while continuing jobless claims moved higher to 4.565 million from the revised prior tally of 4.484 million. These data support the premise that the U.S. labour market remains unsettled.  July non-farm payrolls data will be closely scrutinized next week.  Data to be released in the U.S. tomorrow include Q2 GDP growth, PCE numbers, July Chicago PMI, and final July University of Michigan consumer sentiment will be released tomorrow.  Dallas Fed President Fisher reported the U.S. economy faces a “slow slog” and suggested “no amount of further monetary accommodation is going to do the trick.”  Fisher predicted economic growth will be below 3% for a “prolonged period” and said businesses are “dispirited” by tax and regulatory changes.  St. Louis Fed President Bullard said the Fed should resume purchases of Treasuries if the economy slows and the risk of deflation increases.  In eurozone news, the eurozone July business climate indicator rallied to +0.66 from +0.40 with industrial confidence better at -4, consumer confidence steady at -14, economic confidence higher at 101.3, and services confidence better at +6.  EMU-16 unemployment and CPI data will be released tomorrow.  German July unemployment fell 20,000 to 7.6% and French June producer prices data came in at +0.0% m/m and +3.5% y/y.  Euro offers are cited around the US$ 1.3265 level. 




¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥86.55 level and was capped around the ¥87.50 level.  The pair continues to find it difficult to gain enough traction to challenge the ¥90 figure as global economic growth decelerates.  Bank of Japan Policy Board member Kamezaki yesterday reported the central bank “wants to make utmost efforts proactively to escape from deflation and return to a sustainable growth path under price stability,” noting a stronger yen will hurt exporters.  In contrast, other BoJ officials including Governor Shirakawa have been hesitant about commenting on the strong yen.  There is speculation that industrial production growth in Japan is decelerating and this may increase pressure on the BoJ to ease further.  Yen gains were also prompted by weaker-than-expected Australian consumer price inflation data released yesterday, suggesting global growth continues to decelerate.  Reserve Bank of Australia will likely not hike rates next week and the yen could stay bid as a result of this evolving monetary and economic landscape.  While Kamezaki’s remarks may not increase the changes of yen-selling intervention by the government, traders remain fixated on the ¥85 level.  Economic growth in Japan may also slow in the fourth quarter.  Data released in Japan overnight saw June retail trade up 0.4% m/m and 3.2% y/y.  Data to be released tonight include CPI and PMI data.  The Nikkei 225 stock index lost 0.58% to close at ¥9,696.02.  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 ¥113.15 level and was capped around the ¥114.20 level.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥134.95 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥83.95 level. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.7761 in the over-the-counter market, down from CNY 6.7778.  The July MNI business conditions survey will be released tonight. 



The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5660 level and was supported around the US$ 1.5580 level.  Data released in the U.K. today saw July Nationwide house prices off 0.5% m/m and up 6.6% y/y while June net consumer credit was off -£100 million.  June net lending secured on dwellings came in at €700 million and June mortgage approvals slowed to +47,600.  The Jun3 M4 money supply was up 0.0% m/m and 3.0% y/y and the July GfK consumer confidence survey will be released tonight.  Bank of England Governor King reported the U.K. economic outlook remains uncertain and warned there will likely be inflation next year.  Cable bids are cited around the US$ 1.5270 level.  The euro appreciated vis-à-vis the British pound as the single currency tested offers around the £0.8395 level and was supported around the £0.8320 level.



The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0375 level and was capped around the CHF 1.0580 level.  The July KOF Swiss leading indicator will be released tomorrow. The June UBS consumption indicator was released yesterday and improved to 1.81.  There was market chatter today that Swiss National Bank has been selling some of the euro it purchased in its massive franc-selling interventions this year.  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 1.3580 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.6185 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