User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday September 8, 2010 - 21:33:57 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (8 September 2010)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2760 level and was supported around the $1.2660 level.  Dealers moved back into euro as risk aversion fell marginally overnight on two successful debt issuances by eurozone members. Simultaneously, however, yields on some credit default swaps for some eurozone countries expanded to all-time highs, evidencing jitters about sovereign credit quality.  The Federal Reserve released its monthly Beige Book report today and cited “widespread signs of a deceleration” between mid-July and the end of August.  Some regional Fed banks noted “economic growth at a moderate pace” while others saw “positive developments or net improvements.”  This Beige Book adds to the view that even though growth in the U.S. is decelerating, “the preconditions for a pickup in growth in 2011 appear to remain in place.”  Notably, today’s Beige Book contrasted with July’s Beige Book that suggested “economic activity has continued to increase, on balance.”  U.S. economic data released today saw MBA mortgage applications decrease 1.5% while July consumer credit printed at –US$ 3.6 billion.  In eurozone news, the European Central Bank will publish its September monthly report tomorrow and most traders expect the central bank will not begin to unwind monetary policy before Q1 2011 at the earliest.  Data released in Germany today saw the July trade balance print at €13.5 billion while the July current account lessened to €9.5 billion.  Also, German July industrial production was up 0.1% m/m and 10.9% y/y.  French data saw August Bank of France business sentiment remain steady at +101 while the July trade balance worsened to -€4.2 billion. European Central Bank member Makuch reported the eurozone economy has entered a “self-sustaining growth path” while ECB member Weber said he expects a deal on Basel III regulations this weekend.   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 ¥84.05 level and was supported around the ¥83.35 level.  As expected, Bank of Japan’s Policy Board maintained its economic assessment unchanged, noting economic growth may “temporarily” cool from its current “moderate recovery.”  The central bank will publish its semi-annual outlook next month and is likely to be more bearish than in recent forecasts.  Notably, the central bank reported exports growth and production growth have been decelerating.  There is also speculation Bank of Japan may increase its outright purchases of Japanese government bonds despite reluctance from monetary policymakers.  Traders reduced exposure to yen as they were encouraged by some eurobond debt sales including new issues from Portugal and Poland.  Finance minister Noda said he is prepared to take “bold” steps on exchange rates if required.  The Japanese government is expected to increase its GDP growth estimate for the currency fiscal year to an annualized 1.5% from the prior estimate of 0.4%.  The BoJ predicted in July the economy will expand 2.6% in the year to March 2011. Traders are closely monitoring the DPJ leadership election between Prime Minister Kan and Ichiro Ozawa on 14 September.  DPJ officials today called on Bank of Japan to abolish its self-imposed bond purchase limits so that the central bank can finance more stimulus spending.  Data released in Japan overnight saw the August money supply grow more-than-expected while August bank lending was off 1.7% y/y.  Additionally, July machine orders were up more-than-expected at +8.8% m/m and 15.9% y/y.  Moreover, the July trade balance increased to ¥916.1 billion and the July current account total printed at ¥1.675 trillion.  Other data saw August bankruptcies improve while the August economy watchers’ survey worsened significantly.  The Nikkei 225 stock index lost 2.18% to close at ¥9,024.60. U.S. dollar bids are cited around the ¥84.60 level.   The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥107.10 level and was supported around the ¥105.80 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥130.30 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥83.20 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.7912 in the over-the-counter market, up from CNY 6.7877.  The Chinese government this week reported “We firmly oppose politicizing trade and economic issues and our yuan exchange rate reform cannot be pressed ahead under external pressure.”  White House National Economic Council head Summers has been in Beijing discussing economic issues with the government.



The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5530 level and was supported around the US$ 1.5340 level.  Data released in the U.K. today saw August Halifax house prices up 0.2% m/m while July industrial production was up 0.3% m/m and 1.9% y/y.  Also, July manufacturing was up 0.3% m/m and 4.9% y/y and the August NIESR GDP estimate came in at +0.7%.  U.K. banking giant Barclays called on Bank of England to move to an inflation target range because the central bank’s current need to “turn a blind eye” to accelerated price increases is eroding its credibility.  Notably, consumer price inflation has exceeded two per cent by more than one percentage point for the past five months.  Some BoE-watchers are calling for the central bank to adopt a looser target of around 1% to 3%.  Bank of England’s Monetary Policy Committee is expected to keep interest rates unchanged this week and is likely to keep its asset purchase target unchanged at £200 billion.  The central bank remains in a predicament that finds it trying to deal simultaneously with elevated rates of inflation and depressed levels of economic growth.  Cable bids are cited around the US$ 1.5115 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8200 figure and was capped around the £0.8270 level.


The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0060 level and was capped around the CHF 1.0140 level.  Data released in Switzerland this week saw the August unemployment rate remain steady at 3.6%.  August producer and import prices will be released on 13 August.  This week, Swiss National Bank reported its foreign currency holdings fell to CHF 218.1 billion in August from CHF 219.5 billion in July, partially reflecting gains in the franc.  In June, the SNB reported it will intervene less in the markets by selling fewer francs after its currency holdings quadrupled.  The SNB has likely not officially intervened since June.  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 1.2920 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 1.5690 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 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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