User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday April 19, 2005 - 12:51:12 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (19 April 2005)

The euro weakened vis-à-vis the U.S. dollar today as the single currency gave back some of yesterday’s strong gains, testing bids around the $1.2980 level in the process. The pair failed to get above the $1.3035 level during Australasian dealing and came off during European dealing to the 38.2% retracement level of the move from $1.2875 to $1.3045. Relatively weak eurozone economic data contributed to the move lower as it was reported the ZEW German April expectations index fell to +20.1 from +36.3 in March, below expectations of a 32.5 print. Other data saw EMU-12 industrial output recede by 0.5% m/m in February and gain 0.6% y/y. The annualized gain was around half of what was expected. It was also reported that German March PPI was up 0.6% m/m and 4.2% y/y while France’s current account balance narrowed to -€600 million in February from -€2.2 billion in January. These data underscore the fragility of some aspects of the eurozone’s economy and spotlight the cyclical differences between the eurozone and U.S. economies. Incoming European Central Bank member Bini Smaghi today said the eurozone economy “is not growing sufficiently” and cited “low economic confidence” as a primary reason for the “disappointing growth.” Fed Governor Bies spoke twice yesterday and said Fed policymakers must remain “alert” despite relatively low underlying inflation levels. She didn’t, however, say much to suggest the Fed will discontinue its current “measured” pace of tightening. Fed funds futures now suggest the Federal Open Market Committee will tighten policy in May and June before pausing in August. Traders are now pricing in around 100bps of additional Fed tightening this year, down 25-50bps from market estimates about one month ago. Data released in the U.S. today saw the March headline producer price index up +0.7% while the ex-food and energy “core” rate was up a mere +0.1%. The annualized headline print came in at +4.9% y/y while the core rate was up 2.6% y/y and there were no revisions to February’s numbers. Other data released today saw March housing starts fall a staggering 17.6% to 1.83 million units – much weaker than expected – while building permits also fell. These data suggest the Fed’s continued monetary tightenings are slowing the new housing sector. Euro bids are seen around the $1.2980/ 50 levels while euro offers are seen around the $1.3015 level.


The yen gained modest ground vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥107.05 level and was capped around the ¥107.50 level. The pair reached its lowest level since 1 April but shied away from testing bids around the ¥106.90 level, the 38.2% retracement level of the move from ¥103.65 to ¥108.90. Data released in Japan overnight saw the February leading index downwardly revised to 18.2 from a preliminary 20.0 reading. Also, NLF reported that business sentiment among small Japanese firms declined last month. Traders continue to monitor events in China where anti-Japan sentiment has reached a fevered pitch. Some market participants have reduced exposure to yen on account of the massive demonstrations being lobbied in China. Technically, the dollar also failed to test offers around the ¥107.65 level and appears poised to attain a lower daily close for the seventh time in eight sessions. The Nikkei 225 stock index climbed 1.16% to close at ¥11,065.86. The euro came off vis-à-vis the yen as the single currency tested bids around the ¥139.40 level and was capped right at the psychologically-important ¥140.00 figure. The cross continues to orbit the ¥139.50 level, the 76.4% retracement level of the move from ¥141.60 to ¥132.90. In Chinese news, European Central Bank member Tumpel-Gugerell criticized China by saying it is “currently playing a fundamental role in both the accumulation and financing of global external imbalances, and is considered equally important in view of the adjustment of such imbalances.” She also added the eurozone’s competitiveness could be threatened by China’s export strength.

The British pound showed new signs of vitality vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.9125 level, its strongest print since 21 March. Technically, sterling tested offers at the 76.4% retracement level of the move from $1.9295 to $1.8590 and remained supported above the $1.8945 level, a bullish sign. The big news in the U.K. today was a surprising surge in the March consumer price index to seven-year highs as retail inflation spiked 0.4% m/m and 1.9% y/y. The annualized rate was the highest increase since May 1998 and these data suggest Bank of England’s Monetary Policy Committee may raise interest rates as early as May to deter these reported inflation pressures. The MPC has not tightened policy since August 2004 but had raised rates five times between November 2003 and August 2004. On the flip side of the coin, one month of data does not an inflation spell make and the inclination to raise rates will be tempered by less-than-robust consumption and final private demand in the U.K. Similarly, RICS reported U.K. house prices fell for the eight consecutive month in March. Cable bids are cited around the $1.9025 level. The euro came off vis-à-vis the British pound as the single currency tested bids around the ₤0.6795 level and was capped around the ₤0.6845 level.


The Swiss franc was little-changed vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1855 level and was capped around the CHF 1.1905 level. The pair stopped just short of testing key technical support around the CHF 1.1835 level for the second consecutive day but dollar bulls were unable to move the pair above the CHF 1.1920 level, a bearish sign. Some dealers are wondering if a stabilization of oil prices below the $50.00 per barrel level will result in less demand for the safe-haven Swiss franc. Dollar offers are cited around the CHF 1.1925 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5435 level and was capped around the CHF 1.5480 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