User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday November 29, 2010 - 15:54:53 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (29 November 2010)

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3065 level and was capped around the $1.3300 figure. The common currency reached its lowest level since 21 September after stops were triggered below the $1.3120 level, representing the 38.2% retracement of the $1.1875 – 1.4280 range.  Terms on Ireland’s €85 billion bailout were agreed to over the weekend and traders have shifted their focus on Portugal and Spain as far as eurozone sovereign credit risk is concerned.  Approximately €35 billion of Ireland’s bailout will be injected into the Irish banking system.  The common currency also moved lower on news that Greece received an extension on repayment of its ¥110 billion loan from the European Union and International Monetary Fund.  The loan to Greece will not mature until 2021.  Even though Portugal and Spain maintain that their funding needs have been met until 2011, traders continue to punish the euro on the premise those countries will eventually require assistance.  There is talk the European Central Bank will require liquidity stress tests on all eurozone banks in 2011.  The European Union today said inflation expectations are “well-anchored” and warned EMU-16 budget cuts may impact domestic demand more than expected.  The EU added the economic recovery is “set to become increasingly self-sustaining” though there will be a “differentiated pace of recovery in Europe.” The EU also released its latest economic forecasts for the eurozone and now sees gross domestic product growth and consumer price inflation of 1.7% and 1.5% respectively in 2010.  For 2011, the EU foresees GDP growth around 1.5% and inflation growth around 1.8%.  Data released in the eurozone saw the EMU-16 November business climate indicator climb to 0.96 with similar improvements in consumer confidence, economic confidence, industrial confidence, and services confidence.  In U.S. news, the November Dallas Fed manufacturing activity index was released today and improved to +16.2 from the prior reading of +2.6.  Data to be released tomorrow include the September CaseShiller home price index, November Chicago PMI, and November consumer confidence.  Federal Reserve Chairman Bernanke speaks tomorrow and the Fed remains criticized about its decision to expand its balance sheet by up to US$ 600 billion in U.S. Treasury securities.  Euro bids are cited around the US$ 1.3035 level. 

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥84.30 level and was supported around the ¥83.80 level.  The pair extended its recent climb as the pair reached its strongest level since 27 September.  Some ruling Democratic Party of Japan legislators conceded that a revamp of the Bank of Japan Law will not result in less deflation.  DPJ legislators are seeking a revision in the law that would result in less BoJ independence and force the central bank to adopt an inflation target.  BoJ Governor Shirakawa spoke about the yen saying “In the short run, the appreciation of the yen depresses the revenue and profits of exporting firms. It should also be noted that the appreciation of the yen, from a longer-term perspective, has the positive effect of bringing about an improvement of the terms of trade through a decline in import prices.”  Shirakawa again vowed to take “appropriate action” on the yen and reiterated the Japanese economy is “pausing.”  Additionally, Shirakawa said he “doesn’t feel the need to change in a major manner our judgment that economic risks are roughly in balance.”  Data released in Japan overnight saw October retail trade improve to -1.9% m/m but worsen to -0.2% y/y.  Also, October large retailers’ sales improved to +0.4% and November small business confidence ticked lower to 45.8.  Data to be released tonight include November manufacturing PMI, October household spending, the October jobless rate, and October industrial production.  The Nikkei 225 stock index climbed 0.86% to close at ¥10,125.99.  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 ¥110.40 level and was capped around the ¥111.75 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥131.35 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥84.10 level. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.6603 in the over-the-counter market, down from CNY 6.6686.  Data to be released on Wednesday include November manufacturing PMI and estimates anticipate a slight improvement.  People’s Bank of China Deputy Governor Ma Delun said the central bank will absorb additional liquidity by selling bills.  Chinese banks’ yuan positions originating from their sale of foreign exchange rose in October at their fastest pace in 30 months to CNY 21.8 trillion.  China’s money supply has climbed 50% in the past two years. 


The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5525 level and was capped around the US$ 1.5645 level.  Technically, today’s intraday low was right around the 76.4% retracement of the $1.5295 – 1.6300 figure.  Data released in the U.K. today saw the November Hometrack house survey off 0.8% m/m and 1.1% y/y.  Also, October net consumer credit climbed to £300 million and October mortgage approvals ticked lower to 47,200 despite an increase in net lending secured on dwellings.  The November GfK consumer confidence survey will be released tonight during the Australasian session.  Bank of England Monetary Policy Committee member Sentance yesterday noted the central bank’s commitment to its inflation target is being questioned and added interest rates “need to rise gradually.”  Cable bids are cited around the US$ 1.5295 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8415 level and was capped around the £0.8520 level.


The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.0045 level and was supported around the CHF 0.9985 level. Technically, today’s intraday high was right around the 50% retracement of the CHF 1.0625 – 0.9460 range.  Swiss National Bank Chairman Hildebrand this weekend banks must be disincentivized from returning to the old risk models of the past.  Last week, Hildebrand noted exchange rate moves are a “major challenge” to Switzerland.  Data to be released this week include the October UBS consumption indicator tomorrow, November PMI on Wednesday, Q3 gross domestic product on Thursday, and November consumer price inflation on Friday.  U.S. dollar offers are cited around the CHF 1.0180 level.  The euro depreciated vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.3135 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.5575 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

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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