User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday May 30, 2005 - 14:15:42 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (30 May 2005)

The euro moved sharply lower vis-à-vis the U.S dollar today as the single currency tested bids around the US$ 1.2463 level, a major retracement level. Today’s low is right around the 23.6% retracement level of the move from $0.8565 to $1.3665 and a move through this level opens up the $1.2385 level, the 23.6% retracement level of the pair’s lifetime range. The driver of the day was yesterday’s referendum in France on whether or not to adopt the European Constitution. As expected, the “no” camp was victorious, claiming 54.87% of the vote. Liquidity was expected to be thinner-than-normal on account of holidays in the U.K. and U.S. The French vote comes a couple of days before Dutch voters go to the polls to vote on the same issue and may push back the European Union’s larger integration plans for central and eastern Europe. The vote may also mean an end to Jacques Chirac’s political career. The euro is a currency with a fractious political base of support and questionable levels of both economic and monetary union. The eurozone as a whole is experiencing a difficult time both economically and financially and the French vote only exacerbates these problems. Chicago May PMI and consumer confidence data will be released in the U.S. tomorrow. Euro offers are cited around the $1.2550 level.


The yen was little-changed vis-à-vis the U.S. dollar today as the greenback was supported around the ¥107.75 level and was capped around the ¥108.15 level. More yen strength was evident on the yen crosses where it gained ground vis-à-vis the euro, British pound, Swiss franc, and Australian dollar. Technically, today’s intraday low is around the 50% retracement level of the move from ¥107.25 to ¥108.25. Data released in Japan today saw April industrial output gain 2.2% m/m and 0.6% y/y, in-line with forecasts, while it is projected to decline 2.3% in May and rise 1.4% in June. Many more Japanese economic data will be released tonight including May PMI, April jobless numbers, April personal income, and April household spending. The Nikkei 225 stock index gained 0.66% to close at ¥11,266.33. Dollar bids are cited around the ¥ 107.70/ 50/ 30 levels. The euro tanked vis-à-vis the yen as the single currency tested bids around the ¥134.60 level and was capped around the ¥135.50 level. The “no” vote in France caused the cross to dive sharply and gap 55 pips lower at the open. In Chinese news, People’s Bank of China Vice Governor Su Ning reported China will continue to work on making the yuan currency freely convertible. China announced overnight that it will cancel export tariffs on 81 categories on textiles from 1 June.

The British pound moved lower vis-à-vis the U.S. dollar today as cable tested bids around the $1.8195 level and topped-out around the $1.8255 level. The pair has now traded below the $1.8200 figure twice in the past week, only the second time it has done so since October 2004. A banking holiday in the U.K. means activity in the U.K. is muted today. The May GfK consumer confidence survey and June CBI distributive trends survey will be released tomorrow. In M&A news, some media outlets are reporting that Banco Santander Central Hispano SA is selling €2.2 billion in Abbey Life assets, though this report remains unconfirmed. Cable offers are seen around the $1.8275/ $1.8305 levels. The euro came off vis-à-vis the British pound as the single currency tested bids around the ₤0.6845 level and was capped around the ₤0.6880 level.


The Swiss franc moved lower vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2390 level and was supported around the CHF 1.2315 level. The pair accelerated above the CHF 1.2350 level during early North American dealing today and appeared poised to attempt a run at the CHF 1.2400 figure. Swiss May CPI data will be released tomorrow. Dollar offers are cited around the CHF 1.2485 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5440 level and was capped around the CHF 1.54560 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