User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday June 4, 2004 - 14:39:08 GMT
GCI Financial -

Share This Story:
| | Email

Daily Market Commentary and Analysis (4 June 2004)

The euro was extremely volatile vis-à-vis the U.S. dollar today following the release of the May U.S. non-farm payrolls report. It was learned that an estimated 248,000 new jobs were created with the unemployment rate coming in at 5.6%. Also, average hourly earnings were up +0.3% and there were impressive upward revisions to April’s and March’s non-farm payroll levels that saw new gains of +346,000 and +353,000, respectively. This means approximately 947,000 jobs have been created in the U.S. economy in the previous three months. The May data was right around many consensus forecasts and the euro reacted by spiking lower to test technical support around the $1.2140 level before skyrocketing to the $1.2275 level. The rate settled around the $1.2225 level after the initial volatility subsided. Stops were hit earlier below the $1.2190 level and stops were later hit above the $1.2250 level during the spike higher. The big question is how today’s data change the complexion of the FOMC meeting on 29-30 June. These data probably cement a 25bps monetary tightening on 30 June, especially in light of recent inflation developments that are seemingly being passed through to the “second round.” The last remaining major item on today’s agenda is a speech from FOMC’s Kohn about inflation. Kohn may very well relay the Fed’s concerns with recent inflation and cost measures. Data released in the eurozone today saw EMU-12 April retail sales increase +1.3% m/m and +1.0% y/y while April manufacturing orders climbed +2.5% m/m. ECB’s Quaden today said the ECB’s policy will remain “neutral” in upcoming months and suggested the economic pick-up could be modestly stronger-than-expected. Traders will pay close attention to the forthcoming G8 summit in Sea Island, Georgia.


The yen weakened vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥112.00 figure after the release of the May non-farm payrolls data. Liquidity was very thin ahead of the non-farm payrolls data with the pair supported around the ¥110.70 level and offered around the ¥111.35 level. Traders lifted the pair to the ¥112.00 figure after the data’s release but then pushed it lower to the ¥110.30 level during a very wild swing. Finance minister Tanigaki said he welcomes OPEC’s decision to boost output and said high prices are “not a major shock to Japan’s economy.” MoF’s Mizoguchi reiterated that discussions about FX are unlikely at the upcoming G7 summit in Sea Island. Data released in Japan today saw the April coincident indicator index at 44.4 with the leading indicator at 66.7 while household spending increased 4.6% y/y. Crude oil was seen around $38.80 level shortly after the non-farm payrolls data were released. The Nikkei 225 stock index rose 0.92% today to close at ¥11,128.05. The euro gained ground vis-à-vis the yen today as the single currency tested offers around the ¥136.15 level after finding bids around the ¥135.25 level. Euro offers are cited around the ¥136.00 figure with additional selling pressure around the ¥136.30/ 50 levels and stops above that area. Euro bids are seen around the ¥135.30/ 00 levels with stops below that area. Additional euro bids are cited around the ¥134.80 level. In Chinese news, Bank of Korea Governor Seung Park said he “does not expect to see a hard landing in China’s economy short term.”


The British pound was volatile vis-à-vis the U.S. dollar today after the release of the U.S. May non-farm payrolls report that saw cable test bids around the US$ 1.8320 level before spiking to the $1.8450 level. Sterling eventually settled back around the $1.8400 figure after the dust settled. Data released in the U.K. today saw the May NTC permanent job placements index fall for the second consecutive month while the U.K. John Lewis Partnership sales index was up sharply. On the political front, PM Blair reiterated that he is planning to retain his premiership. Cable bids are cited around the $1.8280 level and options traders cite a large maturity around the $1.8500 figure at 1400 GMT. The euro gained ground vis-à-vis the British pound today as the single currency tested offers around the £0.6655 level before spiking lower to the £0.6620 level after the release of the May non-farm payrolls report. Euro bids are cited around £0.6615 level and with offers around the £0.6670/90 levels.


The Swiss franc was also volatile vis-à-vis the U.S. dollar today as the greenback spiked to the CHF 1.2565 level after the release of May non-farm payrolls before receding to the CHF 1.2435 level. After the volatility receded, traders saw the pair off more than 50 pips. SNB’s Roth spike today and said the euro has been a “very positive development” on the Swiss franc and reiterated the Swiss National Bank will remains independent from the European Central Bank. Roth did not allude to current monetary policy but there remains substantial speculation that the central bank will raise interest rates this month. SNB’s quarterly policy review will be released on 17 June. SNB added one-week liquidity at 0.11% today, unchanged from recent repo pact levels. The euro shot lower vis-à-vis the Swiss franc today as the single currency tested bids around the CHF 1.5240 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