User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday October 27, 2010 - 14:49:43 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (27 October 2010)

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3770 level and was capped around the $1.3880 level.  Technically, today’s intraday low was just below the 23.6% retracement of the $1.2585 – 1.4155 range.  Data released in the U.S. today saw MBA mortgage applications reverse course and increase 3.2% while September headline durable goods orders exceeded expectations and were up 3.3%.  The ex-transportation component, however, was off 0.8% and other sub-indices were also on the weak side.  September new home sales data were up 6.6% m/m to an annualized 307,000 units.  New York Fed President Dudley reported “The Great Recession has been followed by a tepid recovery.  Since 2009, economic activity has grown, but not robustly.  The momentum has slowed.”  The dollar has gained some ground in recent sessions on speculation the Federal Reserve’s quantitative easing policies could precipitate a round of inflation.  The Federal Open Market Committee convenes on 2-3 November and will likely decide to expand its balance sheet further by increasing its purchase of U.S. Treasuries securities.  Some Fed-watchers expect the Fed will announce a US$ 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.  The Fed has already purchased US$ 1.7 trillion in securities and Dudley reported additional unconventional stimulus is “likely to be warranted.”  Speaking about exchange rates, Dudley noted there needs to be “a little more exchange rate flexibility to reflect underlying competitiveness.”  In eurozone news, European Central Bank member Weber – long touted to succeed ECB President Trichet in 2011 – said he favours stricter eurozone sanction reforms than those proposed last week by EMU-16 finance ministers.  Weber also said the euro has become the number two currency in the world.  ECB member Mersch said the ECB may upwardly revise its economic growth forecasts in December and said final private demand is contributing to the economic recovery.  Eurogroup chairman Juncker said “Europe is the victom” of global currency policies and said the “dollar is undervalued against the euro.”  Eurozone data released today saw EMU-16 September M3 money supply growth decelerate to +1.0% y/y.  Also, Germany consumer price inflation came in as expected at +0.1% m/m and +1.3% y/y in October and at +0.1% m/m and +1.3% y/y on a harmonized basis.  French data released today saw September consumer spending up 1.5% m/m and up 1.1% y/y, exceeding expectations.  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 ¥81.95 level and was supported around the ¥81.30 level.  Bank of Japan Deputy Governor Nishimura cautioned against too many financial reforms, saying “Balance sheet adjustments in the United States and Europe are still underway, and many advanced economies are facing the zero lower bound on short-term interest rates, as well as the need for fiscal consolidation.  Under these conditions, it is essential for us to be especially wary that the regulatory reforms currently under discussion do not undermine the recovery of the global economy as a whole.”  BoJ will hold a one-day Policy Board meeting on Thursday and publish its semiannual outlook on the economy and prices.  Many traders believe the central bank will keep monetary policy unchanged following its decision to drive the overnight call rate to zero per cent and pledge to purchase ¥5 trillion in financial assets at its most recent meeting.  The central bank is also expected to reduce its economic growth forecast for the fiscal year to March 2012 to around 1.5% from the current 1.9% estimate.  Intervention jitters continue to limit the pair’s downside following the government’s massive yen-selling intervention several weeks ago.  Nikkei reported this week 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 October small business confidence move lower to 46.4 from the prior reading of 47.3.  The Nikkei 225 stock climbed 0.10% to close at ¥9,387.03.  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 ¥112.50 level and was capped around the ¥113.15 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥129.60 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥82.45 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.6805 in the over-the-counter market, up from CNY 6.6625.  People’s Bank of China warned inflationary pressures in 2011 may originate from grain and other commodity prices.  China reported new property loans were up 32.9% in the first nine months of 2010 to CNY 1.72 trillion.  China this week 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 this week 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 depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5755 level and was capped around the US$ 1.5865 level. Technically, today’s intraday low was right around the 23.6% retracement of the $1.6105 – 1.5650 range.  Bank of England Deputy Governor Bean today reported investment “has indeed fallen sharply” while MPC member Posen reported economic fundamentals “are sound.”  Sterling rocketed higher yesterday after it was reported that Q3 gross domestic product came in stronger-than-expected at +0.8% q/q and +2.8% y/y.   The quarterly increase was twice what was expected and sterling appreciated sharply on the news as traders speculated Prime Minister Cameron’s fiscal austerity measures did not have much of a negative output on overall economic output last quarter.  Cable bids are cited around the US$ 1.5645 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8710 level and was capped around the £0.8750 level.


The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 0.9915 level and was supported around the CHF 0.9835 level.  Technically, today’s intraday high was just above the 38.2% retracement of the CHF 1.0625 – 0.9460 range.  Data released in Switzerland yesterday 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 1.3700 figure 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

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