User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday October 15, 2010 - 20:22:56 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (15 October 2010)

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3935 level and was capped around the $1.4160 level.  Technically, today’s intraday low was right around the 76.4% retracement of the $1.4580 – 1.1875 range.  The dollar’s gains today were precipitated by comments from Federal Reserve Chairman Bernanke who reported additional monetary stimulus may be required because inflation remains too low and unemployment remains elevated.  Bernanke suggested “There would appear – all else being equal – to be a case for further action” but acknowledged that “nonconventional policies have costs and limitations that must be taken into account in judging whether and how aggressively they should be used.”  Most dealers believe the Federal Open Market Committee will adopt additional quantitative easing measures at its November meeting, possibly involving the expansion of its balance sheet by as much as US$ 500 billion through the purchase of additional U.S. Treasury securities.  Bernanke admitted the Fed did not have a firm grasp as to how much it might increase its balance sheet by if it decides to move in that direction.  Fed officials including Dudley, Evans, and Rosengren have noted they favour additional easing while Fed officials including Hoenig, Plosser, and Fisher have noted their opposition.  U.S. Treasuries came off today on the premise the Fed may move to some semblance of a formal inflation target to create some inflation, a move that could be dollar-supportive and negative for bonds.  Data released in the U.S. today saw the September consumer price index up 0.1% m/m and 1.1% y/y at the headline level and up 0.0% m/m and 0.8% y/y at the core level.  Also, September advance retail sales were up 0.6% at the headline level and 0.4% at the ex-autos level.  Moreover, August business inventories were up 0.6%, October Empire State manufacturing improved sharply to 15.73, and mid-October University of Michigan consumer sentiment fell to 67.9.  In eurozone news, European Central Bank member Liikanen verbally intervened against the euro’s strength and ECB member Stark warned about keeping rates too low for too long.  Data release in the eurozone today saw EMU-16 September consumer price inflation up 0.2% m/m and 1.0% y/y while the August trade deficit expanded to -€1.4 billion.  Euro bids are cited around the US$ 1.3670 level. 

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥80.85 level and was capped around the ¥81.60 level.  The pair ignored dollar strength elsewhere that followed comments from Fed Chairman Bernanke regarding the possibility of the Fed seeking to create some inflation.  Bank of Japan’s monthly economic assessment was released overnight and noted that nine regional economies have recovered at a moderate pace or improved. BoJ Governor Shirakawa reiterated the central bank is poised to adopt more easing action if needed.  The central bank also noted exports and production will continue to expand at a moderate pace.  Major stops were hit below the ¥81.10 level this week, representing the pair’s previous low dating to 1995.  There was no indication of actual intervention from Japanese monetary authorities this week and many traders believe the threat of additional yen-selling intervention has increased dramatically, especially considering the pace of the ongoing move lower.  Data released in Japan overnight saw August industrial production off 0.5% m/m and up 15.1% y/y while August capacity utilization was off 0.9% m/m.  The Nikkei 225 stock index lost 0.87% to close at ¥9,500.25.  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 ¥113.55 level and was ccapped around the ¥114.75 level.  The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥130.00 figure while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥84.80 level. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.6411 in the over-the-counter market, down from CNY 6.6512.  Data released in China overnight saw September property prices increase while September actual foreign direct investment was up 6.1% y/y.  Today’s yuan high represented the currency’s strongest level since 1993 and reflected speculation U.S. legislators will increase their calls for a faster appreciation of the yuan.  This has become a politically-sensitive subject ahead of mid-term elections and after it was reported the U.S.’s trade deficit with China widened to a record -US$ 28 billion in August.  Notably, the U.S. government today postponed a decision on whether or not to officially name China a currency manipulator, a move that could have major trade implications between the two countries.


The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5970 level and was capped around the US$ 1.6105 level.  Bank of England Monetary Policy Committee member Fisher said the central bank’s bond purchases have been “extremely successful” and added the central bank does not know what its next step will be with its £200 billion program.  MPC member Sentance spoke this week and advocated “gradual” rate increases, suggesting a lax policy risked a “more deeply ingrained” consumer price inflation.  Former MPC member Besley characterized the U.K. economy as “fragile.”  Data released in the U.K. this week saw September Nationwide consumer confidence decline to +53 from the previous tally of +62.  Also, the September claimant count rate remained steady at 4.5% and September jobless claims were up 5,300.  August average weekly earnings expanded and the August ILO unemployment rate printed at 7.7%.  Bank of England Monetary Policy Committee member Miles this week said inflation remains “worryingly” above target, adding risks are “broadly balanced” at the moment.  BoE Governor King said it is a “mistake” to assume that the worst is over and added he foresees a “long” economic adjustment with risk of shocks.  Cable bids are cited around the US$ 1.5645 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8720 level and was capped around the £0.8795 level.


The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 0.9600 figure and was supported around the CHF 0.9485 level.   Swiss bank UBS reported Swiss National Bank will begin lifting its benchmark interest rates in Q1 2011.  Data released in Switzerland this week saw September producer and import prices off 0.1% m/m and up 0.3% y/y.  Swiss National Bank member Jordan last weekend defended the Swiss plan to call for capital adequacy ratios for Swiss banks far in excess of what is being called for in Basel III.  Finance minister Merz said there are “no concrete signs” of any need to conduct intervention on the franc now, adding weaker currencies have a “massive impact” on Swiss exports.  SNB Chairman Hildebrand reported “One of the biggest challenges for the global economy is the reduction of imbalances.  It is very important that this adjustment process happens in a cooperative way.  It shouldn’t happen through currency wars.  We should avoid using protectionist instruments to achieve this goal.”  Hildebrand added the risk of deflation in Switzerland was averted in June.  U.S. dollar offers are cited around the CHF 0.9925 level.  The euro depreciated vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.3360 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 1.5375 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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 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