User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 3, 2005 - 14:05:25 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (3 May 2005)



The euro moved marginally higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2875 level and was supported around the $1.2830 level. The common currency’s move higher took place during early North American dealing as traders continued to positions themselves ahead of today’s all-important Federal Open Market Committee interest rate decision. Fed policymakers are expected to lift the federal funds target rate by 25bps to 3.00% and all eyes are on the Fed’s post-meeting policy statement to see if the Fed includes the term “measured pace” to describe its removal of policy accommodation. The U.S. economy reportedly hit a “soft patch” in Q1 and core retail inflation costs are said to have picked up at the same time. Traders also want to see if the Fed believes this softer economic spell is largely transitory and how concerned they will become with accruing price pressures. Following today’s Fed meeting, the markets will begin to prepare for Friday’s April non-farm payrolls report to see how many jobs were created or lost in the U.S. economy last month. Fed funds futures prices are currently indicating around 50bps of additional monetary tightening by the Fed in 2005 following today’s anticipated 25bps hike. Data released in the U.S. today saw March factory orders up +0.1%, down from February’s +0.2% pace but higher-than-expected. Also, Challenger layoffs printed at 57,861 – the lowest level in nearly five years. Data released in the eurozone saw March unemployment rise to 8.9% from 8.8% in February. This follows yesterday’s data that evidenced the first contraction in manufacturing sector output in twenty months across the eurozone. Despite statements to the contrary from European Central Bank policymakers, International Monetary Fund Managing Director Rato said it is “premature” to rule our ECB interest rate cuts. Other eurozone data released today saw EMU-12 March PPI up 0.6% m/m and 4.2% y/y. Option traders cite a $1.2800/ $1.3200 double no-touch option that is said to run off later this month. Euro bids are seen around the $1.2830/ 15 levels while euro offers are seen around the $1.2880 level.





¥

The yen moved modestly lower vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥105.30 level and was supported around the ¥104.95 level. Japanese financial markets were closed for the Golden Week holiday and will reopen on Friday. Nikkei cited a report of thirteen private sector think tanks today that predicts Japan’s GDP rose 0.6% in the January – March quarter for an annualized 2.5% rate. Preliminary GDP data are expected to be released on 17 May. Dollar offers are cited around the ¥105.30/ 50/ 70 levels while dollar bids are seen around the ¥104.10 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥135.35 level and was supported around the ¥134.90 level. The cross continues to orbit the technically-significant ¥134.85 level, the 23.6% retracement of the move from ¥141.55 to 132.90. The British pound and Swiss franc both lost marginal ground vis-à-vis the yen as the former tested bids around the ¥198.55 level and the latter tested bids around the ¥87.50 level. In Chinese news, traders are still pondering the possibility of China adjusting its tightly-controlled RMB peg this week during Labour Day holidays. One-week, one-month, three-month, and one-year non-deliverable yuan forwards continue to move aggressively as traders price in the likelihood of an imminent change in China’s FX policy. China’s Trade Minister Bo today said his country will adopt “an extremely prudent attitude” on this topic. U.S. Treasury Secretary Snow yesterday called on China to move to a more flexible exchange rate regime.



The British pound retraced most of its losses vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.1885 level before recovering to test bids around the $1.8955 level. Sterling surged higher during North American dealing as dealers knocked the dollar lower ahead of this afternoon’s Fed interest rate announcement. Data released in the U.K. today saw weakness in the April manufacturing sector as CIPS manufacturing PMI receded to 49.5 from 52.0 in March – the first decline in some two years. This follows similar news released yesterday for the eurozone’s manufacturing sector. Another report issued by Nationwide today saw a pick-up in consumer confidence in April. Perhaps the most noteworthy news of the day was a report that showed U.K. retail sales declined last month at their most acute pace in nearly thirteen years. CBI reported that a net balance of 46% of retailers saw sales that were below average in April. On the political front, the U.K. general election will be held on Thursday and Prime Minister Blair’s Labour Party looks set to prevail. The real question is how much of a majority they will retain in Parliament, if one at all. Cable bids are seen around the $1.8870 level and cable offers are cited around the $1.8955/ $1.9045 levels. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.6800 figure and remained supported around the ₤0.6775 level.

CHF

The Swiss franc gained marginal ground vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1960 level after it failed to get through offers around the CHF 1.2015 level. Data released in Switzerland yesterday saw April PMI unchanged at 52.8 from a revised 52.8 in March. Data released today saw Swiss CPI rise 0.8% m/m last month and up 1.4% y/y, in-line with expectations. Dollar offers are seen around the CHF 1.2025 level and dollar bids are seen around the CHF 1.1920 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 1.5395 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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

Global-View.com 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 Global-View.com. 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.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105