User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday August 20, 2010 - 20:57:29 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (20 August 2010)

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2665 level and was capped around the $1.2830 level. The common currency sold off today to its weakest level in five weeks after European Central Bank member Weber suggested the central bank will keep monetary policy unchanged through at least the end of the year.  Weber indicated rates would likely be on hold to assist banks with their year-end funding requirements and the euro sold off as Weber is generally regarded as a monetary hawk.  Weber is the perceived front-runner to replace ECB President Trichet next year and Weber said the next ECB President must be prepared to deliver “undiplomatic” messages to governments, an indication of his strict fiscal orthodoxy.  The pair finished the week lower for the second consecutive week and stopped just short of testing the US$ 1.2645 level, representing the 23.6% retracement of the $1.5145 – 1.1955 range.  Data to be released in the eurozone on Monday include Augut PMI manufacturing, August PMI services, and August eurozone consumer confidence.  German Q2 GDP data will also be released on Monday.  ECB member Honohan reports he sees a “stronger tone” to the European economy.  In U.S. news, data to be released on Monday include the July Chicago Fed national activity index.  Dealers are still talking about yesterday’s U.S. economic data that saw weekly initial jobless claims move higher to 500,000, a multi-week high.  Euro offers are cited around the US$ 1.3240 level. 

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥85.80 level and was supported around the ¥85.20 level.  Traders lifted the pair higher on speculation Bank of Japan may ease monetary policy further.  Data released in Japan overnight saw July convenience store sales up 0.5% y/y from the June reading of -1.5% y/y.  Bank of Japan officials are said to be still deliberating the impact of the yen’s rise to a fifteen-year high.  Finance minister Noda today said “I want to closely cooperate with the BoJ.  I want to keep in close contact.”  There is speculation BoJ will expand a ¥20 trillion credit program to as much as ¥30 trillion.  Prime Minister Kan and BoJ Governor plan to meet next week and there is speculation the two will try to coordinate policy further.  U.S. banking giant JPMorgan Chase has reported the probability of yen-selling intervention is at a six-year high of 51%.  Vice finance minister Minezaki verbally intervened this week saying “I’m a bit concerned about the competition of currency depreciation.  We need international cooperation. There is no doubt that a strong yen is having a very severe impact on exporters.  It’s our challenge to consider how we are going to support them.”  The Nikkei 225 stock index lost 1.96% to close at ¥9,179.38.  U.S. dollar bids are cited around the ¥84.60 level.   The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥108.25 level and was capped around the ¥109.60 level.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥131.95 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥83.00 figure. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.7905 in the over-the-counter market, down from CNY 6.7908.  The State Administration of Foreign Exchange this week reported China’s Q2 current account surplus was up 30% y/y to US$ 70.5 billion but was off 8% in the first half of the year to US$ 124.2 billion, equivalent to 4.9% of gross domestic product.  China continues to diversify its foreign exchange reserves and internationalize the yuan.  The yuan is expected to slowly appreciate on account of the government’s policy. 


The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5460 level and was capped around the US$ 1.5600 figure. Data released in the U.K. this week saw July headline retail sales up 1.1% m/m and 1.3% y/y while the ex-auto and fuel component was up 0.9% m/m and 2.4% y/y.  Also, the July public sector net cash requirement fell to -£4.1 billion from the prior reading of £20.7 billion and July public sector net borrowing fell to £3.2 billion from the prior reading of £13.9 billion.  Additionally, the July M4 money supply was up 0.4% m/m and 2.3% y/y and July mortgage approvals ticked lower to 47,000 from 48,000.  Finally, August CBI trends total orders improved to -14 from the prior reading of -16.  As expected, Bank of England’s August Monetary Policy Committee meeting minutes were released this week in which policymakers voted 8-to-1 to keep its main Bank rate unchanged at 0.50% and its asset purchase program unchanged at £200 billion.  Again, MPC member Sentance voted for a +25bps increase in the Bank rate to +0.75%.  Cable bids are cited around the US$ 1.5385 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8170 level and was capped around the £0.8245 level.




The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.0390 level and was supported around the CHF 1.0285 level.  Data released in Switzerland this week saw the July trade balance climb to CHF 2.89 billion from the CHF 1.77 prior reading.  Also, the August Credit Suisse ZEW survey of expectations improved to 9.1 from the prior reading of 7.2.  Central bankers continue to deliberate tighter global bank standards and the Basel Committee is reporting an increase in requirements would “boost confidence” and “have a modest impact on output.”  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 1.3140 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.6010 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 11 December 2017

Register for the Amazing Trader


Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook

Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision

  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
John M. Bland, MBA
co-founding Partner, EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated


Trader's Advocate Articles..


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