User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday October 26, 2010 - 17:52:16 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (26 October 2010)

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3855 level and was capped around the $1.3980 level.  Technically, today’s intraday high was right around the 38.2% retracement of the $1.4160 – 1.3695 range and dealers are citing stops below the $1.3840 level.  The pair came off on speculation the Federal Reserve’s quantitative easing policies could precipitate a massive round of inflation.  The Federal Open Market Committee convenes on 2-3 November and will likely decide to expand its balance sheet further by increasing its purchase of U.S. Treasuries securities.  Some Fed-watchers expect the Fed will announce a US$ 500 billion buying binge while others expect the Fed could purchase as much as US$ 100 billion monthly for several months.  The Fed is attempting to achieve multiple objectives simultaneously including an increase in consumer spending, a decrease in unemployment, and a pick-up in inflation so as to avert a format bout with deflation.  New York Fed President Dudley yesterday said current inflation levels and a 9.6% unemployment rate are “unacceptable” but conceded an expansion in the Fed’s balance sheet is not a “perfect tool.” Fed officials have publicly stated they are split on whether or not to expand the Fed’s balance sheet at next week’s meeting and the meeting is therefore expected to be contentious.  PIMCO CEO El-Erian warned additional Fed purchases of U.S. Treasuries could cause a global bout of inflation and fail to reduce U.S. unemployment.  Data released in the U.S. today saw August Case-Shiller home prices off 0.28% m/m and up 1.70% y/y.  Also, October consumer confidence climbed to 50.2 from the revised prior reading of 48.6 and August house prices reversed course and were up 0.4% m/m from the revised prior reading of -0.7%.  Finally, the October Richmond Fed manufacturing index climbed to +5 from the prior reading of -2.  In eurozone news, German data saw November GfK consumer confidence remain steady at 4.9 while the September import price index was up 0.3% m/m and 9.9% y/y.  Provisional North Rhine-Westphalia CPI data came in higher-than-expected and other German provisional CPI data will be released tomorrow.  French data saw October consumer confidence improve to -34 and September jobseekers data will be released later during the North American session.  European Central Bank member Quaden said it would be “prudent” for the ECB to maintain its bond purchase program and said a double dip recession is “highly unlikely.”  Quaden added there is no “big” risk from inflation and added exchange rate moves should never be “brutal.” French finance minister Lagarde said the eurozone is suffering from a weak dollar.  Euro bids are cited around the US$ 1.3670 level. 

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥81.40 level and was supported around the ¥80.60 level.  Technically, yesterday’s and today’s intraday lows were just below the 23.6% retracement level of a major Fibonacci retracement extension area related to the ¥101.50 - ¥84.50 range.  Many traders believe the pair may soon trade below the psychologically-important ¥80 figure and dealers cite heavy options-related orders both above and below that area.   Bank of Japan’s Policy Board convenes this week and many traders believe the central bank will keep monetary policy unchanged.  Yields on five-year Japanese government bonds reached a one-month high on expectations BoJ will not ease this week following its recent decision to drive the overnight call rate to zero per cent and pledge to purchase ¥5 trillion in financial assets.  Intervention jitters continue to limit the pair’s downside following the government’s massive yen-selling intervention several weeks ago.  Nikkei reported overnight that the BoJ may keep its overnight call rate unchanged for at least two years on account of an estimate that consumer prices could remain below 1% through fiscal year 2012.  Data released in Japan overnight saw the September corporate price index off 1.1% y/y, the latest evidence that deflation remains evident at the production level.  The Nikkei 225 stock lost 0.25% to close at ¥9,377.38.  U.S. dollar offers are cited around the ¥84.60 level.   The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥112.40 level and was capped around the ¥113.25 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥129.05 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥82.80 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.6625 in the over-the-counter market, up from CNY 6.6583.  China reported its national trade surplus will “definitely” be reduced and this led to a decline in yuan forwards as speculation increased that appreciation pressures will wane.  People’s Bank of China researcher Wang Yong today said China should resist pressure to allow the yuan to appreciate to discourage “hot money” inflows.  People’s Bank of China adviser Xia Bin reported there is ongoing pressure to raise interest rates further. 


The British pound appreciated sharply vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5895 level and was supported around the US$ 1.5690 level.  Technically, today’s intraday low was right around the 50% retracement of the $1.5295 – 1.6105 range.  Sterling rocketed higher after it was reported that Q3 gross domestic product came in stronger-than-expected at +0.8% q/q and +2.8% y/y.  The quarterly increase was twice what was expected and sterling appreciated sharply on the news as traders speculated Prime Minister Cameron’s fiscal austerity measures did not have much of a negative output on overall economic output last quarter.  October Nationwide house prices data will be released on Thursday.  Bank of England Governor King reported U.K. banks need “much, much more equity.”  MPC member Sentance reported additional stimulus from the MPC would take the U.K. in the “wrong direction.”  Sentance added he is “in favour of gradually moving interest rates up from their very low level, which I think can be done without disrupting business and consumer confidence.”  Similarly, NIESR said today’s GDP data “weaken the case for the Bank of England to undertake further quantitative easing as demand may be growing strongly.”  MPC member Posen said countries with a positive current account surplus should expand domestic demand.  Cable bids are cited around the US$ 1.5645 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8750 level and was capped around the £0.8880 level.


The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 0.9820 level and was supported around the CHF 0.9700 figure.  The pair reached its highest level since 1 October as traders speculated the Fed’s forthcoming additional asset purchases will lead to inflation and higher rates.  Data released in Switzerland today saw the September UBS consumption indicator decline to 1.698 from the revised prior reading of 1.945.  This represented the index’s lowest print in six months and indicates the Swiss economic recovery may be facing headwinds.  UBS reported “Low interest rates and an improvement in the labour market, as we all as the ongoing strong increase in the permanent resident population, should continue to support private consumption.”  UBS recently predicted Swiss National Bank will begin lifting its benchmark interest rate in Q1 2011.  U.S. dollar offers are cited around the CHF 0.9925 level.  The euro appreciated vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.3620 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 1.5560 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