User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday June 15, 2005 - 08:57:12 GMT

Share This Story:
| | Email

FX Economic Release Alerts




1. US Consumer Price Index (May) m/m (12:30 GMT, 8:30 EDT)

Consensus: 0.0%

Previous: 0.5%


Outlook: Consumer prices are expected to have remained unchanged in May on a monthly basis after accelerating 0.5 percent in April according to a survey published by Bloomberg News. Yearly, the statistic is expected to fall from 3.5 percent boost in April to a 2.9 percent acceleration in May. Easing oil and gasoline prices as well as stunted food costs were cited as the major reason for this halt on price increases while an overall decrease in buying also probably added to the stagnation. Consumption has illustrated a marked slowdown recently as fewer vehicles were brought last month and consumer credit waned to $1.3B from $6.9B a month earlier. Along with this, retail sales for May posted much lower than expected. Market watchers had predicted a 0.2 percent increase in this statistic; however, the actual reading was a 0.2 percent decline without autos and a 0.5 percent drop including automobiles. Last month, both of these readings printed at robust over-one-percent increases. If the CPI numbers do come in inline with expectations, this will be the lowest reading in four months and the year's first drop in wholesale prices. The easing of inflation will weigh heavily on the minds of US Federal Reserve officials as they decide the future of U.S. interest rates and if they want to continue their tightening policy far past the current 3.00 percent benchmark rate. With a slowing economy and no inflation to flight, market watchers are anticipating a change in the Feds rhetoric and actions soon.


Previous: Prices accelerated 0.5 percent on a monthly basis in April and 3.5 percent on a yearly basis while the economy slowed markedly leading to some doubts about its future. Expensive crude oil and gasoline were most likely the reasons behind the jump in prices, meaning that although demand was not at especially high levels, the effects of oil prices hitting around 2.28 a gallon pushed costs up. Inflation accelerations of 0.6 percent in March and 0.4 percent in January were also the products of high crude oil and raw materials costs.



2. US Business Inventories (APR) (12:30 GMT, 08:30 EDT)

Consensus: 0.3%

Previous: 0.4%


Outlook: US Business Inventories are expected to hang back at 0.3% in April from the 0.4% we saw in March.  Manufacturing and wholesale inventories have already been reported as increasing 0.1% and 0.8%, respectively, in April. The news, therefore, will be on retail inventories. Strength in both vehicle and non-auto retail sales during April suggests softness in retail inventories. Auto inventories at retailers most likely declined during the month. Inventories have been on the decline since January when it was at 0.9 percent.  Lower inventory levels may be a result of higher sales, improvements in technology that allows easier "just-in-time" inventory management, or slowing business confidence about future sales.  It is likely that uncertainty about consumer demand has kept businesses from building up inventories, given that the economy has been so sensitive.


Previous: Business inventories in the US rose below the 0.6% expectation to only 0.4% due to stronger than expected sales.  The inventory-sales ratio, which measures the length of time goods stay on store shelves, was pushed down to 1.31 months from 1.32 months in February due to the higher sales.  This decrease in the ratio indicates that consumers have an inclination to buy.  A more positive consumer view of the economy tends to resonate throughout the economy.



3.US Empire State Manufacturing Survey (MoM) (June) (12:30 GMT, 8:30AM EDT)

Consensus: 1.00

Previous:  -11.11


Outlook:  Last month's Survey's inconsistency with the Philadelphia Fed and ISM reports suggests a rebound to come, which would support Federal Reserve Chairman Alan Greenspan's recent comments that the economy is on a "reasonably firm footing."

After the Empire State Manufacturing Survey plunged for two months in a row and hit the contraction territory for the first time in two years (3.10 in April and -11.11 in May), it is now expected to bounce back to 1.00 in June. The details of the last month's Survey showed the future indexes were still at favourable levels, and the contraction was mainly due to sharp deceleration in Expected Selling Prices. Still, more than 50 percent of respondents continued to expect improvement in general conditions during the next six months. Also suggesting a return to the positive area is the June ISM Index which came in at 51.40, corresponding to an above-zero Empire State Index according to JP Morgan's June Global Data Watch chart.


Previous: May Survey has surprised the market by hitting -11.1 - its lowest reading in two years, contrary to the Bloomberg News survey's estimate of 11.70. General Business Conditions Index has dropped for two months in a row, and hit the negative ground, which represents a contraction in the growth expectations. Although the NY manufacturing survey is one of the most volatile reports and NY only comprises 5 percent of total US manufacturing, it is still a piece of data that is closely watched especially for its directional change. May has also registered a divergence between the Empire State and Philly Fed indices, with the latter being more consistent with the May ISM reading of 53.30.  Such a gap is usually not sustained in the long run.



4.TIC Data - Net Foreign Security Purchases (APR) (13:00 GMT, 9:00 EDT)

Consensus: $71.0B

Previous: $45.7B


Outlook: Over the past 12 months, purchases of U.S. securities by foreign investors have totalled a massive $764 billion. Following the blow-out of only $45.7B billion net inflow recorded in March, the market is expecting some reversal. Additionally, the American Jobs Creation Act of 2004, which allows US companies to repatriate overseas profit at an especially advantageous tax rate, for the 2005 calendar year only, suggests that the repatriation amounts may remain heavy and evenly distributed over the entire calendar year. On the other hand, an increase in purchases of foreign oil, automobiles and clothes may have negatively affected the TIC Data.  In fact, April oil prices rallied to a record close above $57 which sent the average retail cost of gasoline above $2.25 a gallon within a few weeks.  It will be interesting to see if China and Japan actually increases its demand for dollar denominated assets or whether purchases are still concentrated in the hedge fund heavy Caribbean.  The forecast by Bloomberg is of only 5 economists, which makes us sceptical of its accuracy.


Previous:  Foreign holdings of US treasuries increased a measly $45.7Bln in March, compared to $84.1bln in Feb.  This is less than the $55bln needed to fund the same month's trade deficit and also less than the most pessimistic analyst estimate posted on Bloomberg. Taking a deeper look at the details of the report and we see that both China AND Japan were net sellers of US Treasuries in March.  Japan has sold US Treasuries for 3 out of the past 5 months while Chinese demand is simply waning.  Regardless of what Japan and China tell us about revaluation or whether they will ever sell US dollars or Treasuries, the proof is that their appetite for dollar denominated assets have fallen significantly.  The Caribbean, the home of hedge funds, has now become the third largest holder of US treasuries, outpacing the UK.  Talk of hedge fund blow-up following the downgrades of Ford and GM could also hurt the future demand from this particular source.



5. US Industrial Production (May) m/m (13:15 GMT, 9:15 EDT)


Consensus: 0.2%

Previous: -0.2%


Outlook: After decreasing in April, Industrial production is anticipated to have made a small comeback in May. The 0.2 percent increase will most likely be a product of easing oil prices, which are making it less costly for producers to run machinery and purchase inputs. Regional manufacturing surveys are also all expected to rebounded for the month of May, including Empire Manufacturing, which is projected to move back into positive territory and the Philly Fed survey which will probably inch up to 10 from Aprils 7.3. Although hours worked in the auto industry declined 0.2 percent that month, there was a 0.4 percent gain in hours worked in computer and electronics production. Aggregate hours worked in the natural resources and mining industry also posted strong gains which were probably a reaction to the softness in both of these sectors in April.  Whether or not increases in this statistic will be sustained is yet to be seen however, especially due to the drops in retail sales, especially with vehicle sales.


Prior: U.S. industrial production posted a widely unexpected loss of 0.2 percent on a monthly basis in April. This was the biggest decline that the statistic had seen in eight months and was primarily the result of auto manufacturers cutting production and warmer weather slowing utility output. Excluding autos, however, manufacturing production actually rose last month mostly on a retreat in crude oil and gasoline prices.







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