User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday April 21, 2005 - 13:35:36 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (21 April 2005)

The euro came off modestly vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3055 level and was capped around the $1.3110 level. Notably, the common currency stopped just short of testing technical resistance around the $1.3120 level and gave back around half of yesterday’s gains. Traders await congressional testimony from Fed Chairman Greenspan today. Greenspan is scheduled to speak about “Structural Deficits and Budget Process Reform” and his comments will be scrutinized for any implications regarding the value of the dollar. In other Fed news, the monthly Beige Book was released yesterday and it reported that many regions of the U.S. experienced growing price pressures between late February and early April. Dealers anticipate a 25bps monetary tightening to be announced by the Federal Open Market Committee on 3 May despite stronger-than-expected core March consumer price inflation data that were released yesterday. The Philadelphia Fed survey will be released later in the U.S. session and will provide the latest evidence on how the manufacturing sector is faring in that region. If last week’s New York Fed Empire Survey is a proxy, the Philadelphia Fed survey could have weakened substantially. Data released in the U.S. today saw weekly initial jobless claims print at +296,000, down 36,000 from last week’s revised 332,000 number. Many economists continue to talk about the current “soft patch” in the U.S. economy and with the price of oil up above the $53.00/ barrel level again, energy costs continue to be cited as a culprit. The yield on the 10-year U.S. Treasury note now stands around 4.26%, down some 40bps in recent weeks and this is the strongest indication that trades believe the U.S. economy has softened. In eurozone news, French household consumption of manufactured goods receded 0.8% m/m in March and rose 4.0% y/y. European Union official Alumnia was critical of the eurozone today in saying a growth rate of 2% in 2005 would be insufficient. Euro bids are cited around the $1.3040 level and euro offers are seen around the $1.3120 level.


The yen reversed course and depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥107.40 level after Australasian dealers kept the pair supported around the ¥106.70 level. Technically, today’s high represents a 38.2% retracement of the recent ¥108.85 - ¥106.60 range and chartists cite ¥107.70 as the pair’s next upside target. Data released in Japan today saw the March trade surplus rise 13.4% m/m and fall 0.2% y/y. Notably, Japan’s merchandise trade surplus escalated to its strongest level in five years in the fiscal year that ended in March. Exports to Asia soared and China replaced the U.S. as Japan’s largest trading partner. The trade surplus expanded 1.3% y/y to ¥11.35 trillion, the fourth consecutive annual expansion. Exports to mainland China rocketed 16.1% to ¥8.087 trillion while imports surged 17.9% to ¥10.63 trillion. Notably, Japan and China are engaged in a significant and highly public row now that has led to the worst anti-Japan demonstrations in China since at least 1972. Trades are curious whether or not this will lead to a deterioration in Japan’s trade with China. The ongoing global inventory shakeout in information technology will also likely have an impact on Japan’s annualized trade results for the current fiscal year. Other data released in Japan today saw foreign investor emerge as net sellers of ¥125.8 billion in Japanese equities last week, the second week this year that foreign investors dumped shares. Former Bank of Japan Deputy Governor Yamaguchi said the central bank’s monetary policy will “normalize” as the economy recovers. Today, the central bank reported regional economies are in a “modest recovery trend,” an observation that was repeated by BoJ Governor Fukui in remarks today. The Nikkei 225 stock index shed 0.94% to close at ¥10,984.39. Dollar offers are cited around the ¥107.45/ 70/ 95 levels. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥140.40 level and was supported around the ¥139.70 level. Stops were reached above the ¥140.10 level during the move higher. In Chinese news, it is being reported that Chinese and Japanese leaders could hold a summit in Jakarta to try and reduce recent tensions. Data released in China today saw March CPI up 2.7% y/y while March wholesale prices were up 3.5% y/y and March unemployment came in at 4.2%. The discount on the 12-month non-deliverable yuan forward eased to -4050/-3850 from -4300/-4200, signifying a slight pullback in revaluation estimates by traders.

The British pound tumbled sharply vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.9060 level and was capped around the $1.9215 level. An unexpected decline in March retail sales of 0.1% m/m was behind the pullback in sterling. Traders reduced sterling exposure as they began to price in less of a chance that Bank of England’s Monetary Policy Committee will raise interest rates in May, primarily on account of the reduction in consumption and final private demand. Tomorrow’s Q1 GDP data become critical and many dealers believe a print below 0.6% - the “trend rate of growth” – will nearly eliminate the possibility of a tightening next month. An increase of 0.4% in retail sales had been expected and on an annualized basis, the actual March print was only up 2.7% - the lowest print since August 2003. The MPC has not raised interest rates since August 2004 but has recently been concerned with the inflationary repercussions of above-trend economic growth and the relatively tight labour market. Cable bids are cited around the $1.9025 level while cable offers are seen around the $1.9130 level. The euro moved higher vis-à-vis the British pound today as the single currency tested offers around the ₤0.6855 level and was supported around the ₤0.6810 level.


The Swiss franc moved lower vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1815 level and was supported around the CHF 1.1740 level. The pair did not wander far past the CHF 1.1750 level – an important short-term technical support level that represents 38.2% of the recent CHF 1.1480 – CHF 1.2195 range. Dollar offers are cited around the CHF 1.1835 level. The euro moved higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5440 level and was supported around the CHF 1.5390 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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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