User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday April 11, 2005 - 13:31:36 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (11 April 2005)

The euro appreciated modestly vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2985 level and remained supported above the $1.2905 level. Traders readied themselves for tomorrow’s U.S. February trade data and Federal Open Market Committee meeting minutes. The trade data are important in the context of Friday’s Treasury International Capital data report that will confirm whether or not the U.S. covered its likely February trade balance with international capital portfolio flows. Traders have largely focused on pro-U.S. dollar cyclical factors like economic and productivity growth thus far in 2005 and a shift to a focus on the U.S.’s large structural imbalances could see the common currency try to regain a firm footing above the psychologically-important $1.3000 figure. Tomorrow’s FOMC minutes will be scrutinized for any clues that suggest policymakers discussed the need for an eventual 50bps monetary tightening when they last convened. In eurozone news, European Central Bank policymaker Mersch today said there is an increasing change that high oil prices could have second-round effects in the eurozone economy, possibly leading to higher interest rates. Data released in the eurozone today saw French February manufacturing output fall 1.0% m/m following January’s +0.3% rise, below most forecasts, while Germany’s DIW revised its Q1 GDP forecast to +0.7% y/y from +0.5%. Eurozone finance ministers are meeting today and tomorrow and are said to be discussing exchange rates and the price of oil. They will meet their G7 counterparts late this week in Washington, D.C. to discuss the global economy. In German news, the government is considering a new minimum wage plan to support certain segments of the domestic economy. It was also reported that German tax revenue could be around € 7 billion short of November estimates on account of slower economic growth. Euro bids are seen around the $1.2935 level while euro offers are cited around the $1.3085 level.


The yen reversed its recent misfortunes vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥107.65 level and was capped around the ¥108.50 level. Stops were triggered below the ¥108.20/ ¥107.90 levels during the move downward as they represent key long-term technical support levels that have largely supported the pair over the past several trading sessions. The dollar gained a little ground during Australasian dealing on comments from Bank of Korea Governor Park who said his central bank will not diversify its foreign exchange reserves from the U.S. dollar at this time on account of the won’s steep rise. Traders bought some additional dollars overnight when a fairly strong earthquake struck around the Tokyo area but bought back yen when it was reported there was no significant damage. Data released in Japan today saw the February current account surplus recede 1.5% y/y to ¥2.117 trillion, primarily on account of slower exports. Likewise, the trade surplus receded 20.3% y/y to ¥1.235 trillion. These data are the latest evidence that Japan’s economy is suffering from the global inventory adjustment in the information technology sector. Futures traders cite some downside risk for the dollar as speculative IMM yen futures have their largest net short yet positions since January 2001. Options traders cite a large ¥108.00 run-off at 1400 GMT today. The Nikkei 225 stock index shed 1.09% to close at ¥11,745.64. Dollar bids are seen around the ¥107.60 level and dollar offers are seen around the ¥109.00 figure. The euro moved marginally lower vis-à-vis the yen as the single currency tested offers around the ¥139.70 level and was capped around the ¥140.25 level while the British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥203.45 level. Some €20 billion in eurozone debt offerings are expected this week and this could affect the crosses. In Chinese news, it was reported that China’s Q1 exports expanded 34.9% while imports were up 12.2%. Also, industrial output was up 16.2% y/y in Q1 to ¥1.44 trillion. A Chinese economist today suggested China will not be prepared to revalue the yuan currency in the next six months but added a revaluation could come before the end of 2005. He also suggested the creation and functioning of a liquid onshore foreign exchange market is a prerequisite before a revaluation takes place. He predicted a revaluation of 3% might be proper. In other Chinese news, Credit Suisse First Boston reported China’s foreign exchange reserves may exceed US$ 1 trillion by 2008.

The British pound added to its turnaround from Friday vis-à-vis the U.S. dollar today as cable moved above offers seen around the US$ 1.8860/ 85 levels and was supported around the $1.8610 level. Chartists now cite the $1.8940/45 level as the pair’s next significant hurdle. Data released in the U.K. today saw March producer output prices up +0.6% m/m and +2.8% y/y while core producer output prices were up +0.1% m/m and 2.4% y/y. March producer input prices were up +1.8% m/m and +11.5% y/y. IDS today reported U.K. pay pressures are probably rising as Q1 pay deals are printing 3.3% higher than year-ago levels, on average. If anything, this may nudge up interest rate expectations at Bank of England but is probably not enough to effect a monetary tightening at the May meeting of the Monetary Policy Committee. Prime Minister Blair today said the U.K.’s five tests for Economic and Monetary Union are still valid. Property website today suggested the forthcoming general election and likelihood of higher U.K. interest rates are deterring would-be homebuyers from purchasing real estate. Sterling bids are seen around the $1.8860 level. The euro was little-changed vis-à-vis the British pound as the single currency tested bids around the ₤0.6850 level and was capped around the ₤0.6865 level.


The Swiss franc moved higher vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1925 level and was capped around the CHF 1.1990 level, below the psychologically-important CHF 1.2000 figure. The pair has been in a downturn for the past five trading sessions and chartists cite the CHF 1.1875/ 60 levels as the next significant support for the pair. Swiss February retail sales will be released tomorrow. Dollar offers are seen around the CHF 1.2010/ 40 levels. The euro was little changed vis-à-vis the Swiss franc as the single currency tested offers just below the CHF 1.5500 figure.


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 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 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