User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday September 20, 2010 - 11:11:55 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (20 September 2010)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3120 level and was supported around the $1.3035 level.  There are multiple themes being focused on by traders today.  First, the Federal Open Market Committee’s interest rate decision will be released tomorrow.  The Fed is expected to keep monetary policy unchanged following its decision on 10 August to reinvest maturing mortgage debt back into the U.S. Treasury market.  Second, many larger institutional investors are predicting U.S. market interest rates will be significatly lower in Q1 2011 with some forecasts calling for a 1.75% U.S. Treasury note yield.  Third, there are renewed financial strains in the eurozone.  Yields on credit default swaps for some peripheral economies like Ireland and Greece remain elevated.  Some dealers are speculating the Irish government will be forced to seek bailout assistance from the International Monetary Fund or the European Union.  ECB member Honohan called on the Irish government to reduce its budget deficit at a quicker pace to bolster investor confidence.  Fourth, some traders are anticipating the Fed could cut its economic forecast in the short-term.  Growth projections may be reduced by the central bank before the end of the year.  In anticipation of a more pessimistic Fed outlook, two-year U.S. Treasury yields are near all-time lows.  Bundesbank reported Germany’s economic recovery remains intact but added its growth dynamic has slowed “markedly.”  European Central Bank member Nowotny said the ECB’s “exit policy is to be discussed only at a later stage.”  Nowotny said concerns over sovereign debt “may be overblown.” Former Bundesbank President Poehl said voting rights at the ECB should be weighted by members’ strength.  In U.S. news, data to be released today include the September NAHB housing market index and it is expected to tick higher to +14.  Tomorrow’s data include August housing starts and August building permits and a marginal increase in activity is anticipated.  More housing data will be released on Thursday and Friday along with capital goods orders.  Euro bids are cited around the US$ 1.2995 level. 


¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥85.50 level and was capped around the ¥85.75 level.  The Japanese government conducted a major yen-selling intervention last week that traders have estimated as much as ¥1.86 trillion in size.  Details about the size of the intervention will be released on 30 September.  Finance minister Noda verbally intervened late last week and said Japan needs to explain its exchange rate policy “persistently to other nations.”  Notably, the intervention has apparently remained unsterilized in the Japanese money market, signifying Bank of Japan was also utilizing the intervention as de facto monetary easing.  The government will maintain pressure on the central bank to expand its monetary policy, most probably by increasing its monthly purchases of Japanese government bonds.  Foreign governments including the Obama administration are unlikely to join Japan’s foray into yen-selling intervention.  U.S. Congressional officials last week were critical of Japan’s actions, as were European finance and monetary officials.  Bank of Korea Governor Kim Choong Soo this weekend reported Japan “cannot resolve the problem of the strong yen alone. Japan will need policy coordination with others, including the U.S. and China.  The effect is limited when one country tries to handle the issue by market intervention.” Data to be released in Japan overnight include the July coincident index, July leading index, and August machine tool orders.  Japanese financial markets will reopen tonight.  The Nikkei 225 stock index gained 1.23% on Friday to close at ¥9,626.09.  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 ¥112.35 level and was supported around the ¥111.70 level.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥133.35 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥85.40 level. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.7141 in the over-the-counter market down from CNY 6.7250.  People’s Bank of China official Li Daokui called on China to increase domestic consumption.  He added “Pressure for yuan appreciation is just starting and far from ending.  China faces challenges including the housing price surge that’s impeding progress in urbanization.”  A central bank survey reported more Chinese households expect increasing inflation.



The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5570 level and was capped around the US$ 1.5685 level.  Bank of England released its quarterly bulletin today and reported the pound’s appreciation may reflect improved confidence in the outlook for U.K. public finances.  Monetary Policy Committee member Dale reported “doubts remain about the durability and speed of the global economic recovery going forward.” BoE Governor King spoke last week and acknowledged the bank made mistakes that led to the financial crisis, adding the economic recovery “will not be straight.”  Monetary Policy Committee member Posen last week reported the central bank’s secondary plan should be private asset purchases.  Data released in the U.K. tonight saw September Rightmove house prices off 1.1% m/m and up 2.6% y/y.  Also, August mortgage approvals ticked lower to 45,000 and the August M4 money supply was off 0.2% m/m and up 1.8% y/y.  Cable bids are cited around the US$ 1.5320 level.  The euro appreciated vis-à-vis the British pound as the single currency tested offers around the £0.8410 level and was supported around the £0.8330 level.


The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0030 level and was capped around the CHF 1.0120 level.  The KOF Institute released its September economic forecast today in which it suggested the Swiss economy will expand faster-than-expected in 2010 on account of surging export growth.  KOF now sees 2010 economic growth around 2.7% and around 1.8% in 2011.  Data to be released tomorrow in Switzerland include the August trade balance and August M3 money supply.  Last week, Swiss National Bank kept its three-month franc Libor target rate unchanged at 0.25%. SNB Chairman Hildebrand reported the economy is expected to “slow” in the second half of the year.  As expected, the Swiss government last week raised its economic growth forecast for this year and now sees GDP growth of 2.7% in 2010, up from the previous forecast of 1.8% from June.  The government also sees 2011 GDP growth of 1.2%, down from the previous forecast of 1.6%.  U.S. dollar offers are cited around the CHF 1.0290 level.  The euro depreciated vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.3135 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.5640 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