User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday June 22, 2005 - 13:48:33 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (22 June 2005)

The euro moved sharply lower vis-à-vis the U.S. dollar in European dealing today and tested bids just above the US$ 1.2100 figure in early North American dealing. Absent any significant eurozone or U.S. data today, the focus continues to be on eurozone budgetary problems and political divisions. French President Chirac today said U.K. Prime Minister Blair’s “intransigence” during last week’s European Union budget discussions for 2007 – 2013 led to a breakdown in discussions. The U.K. and Blair will assume the rotating six-month EU presidency in July and Blair may seek a budget deal at that time. Poland announced it will not hold a referendum about ratifying the European Constitution following France’s and Holland’s decision not to ratify it and Luxembourg indicated it will hold its referendum around 10 July. The euro came back in North American dealing yesterday as traders reacted to comments from European Central Bank President Trichet who failed to dovishly suggest the next monetary policy move would be lower rates. Trichet reiterate current eurozone rates are at “historically low levels” and said they are “appropriate” for now. Bank of Spain’s Caruana said the eurozome economy has been characterized by “persistent weakness” in the first half of 2005 while ECB Chief Economist Issing said he does not believe the euro’s current weakness will persist. Bundesbank’s and ECB’s Weber speaks at 1730 GMT today. Data released in the eurozone today saw the EMU-12 April trade surplus at €1.3 billion compared with €6.8 billion one year ago while EMU-12 April industrial orders climbed 1.5% m/m and were up 1.6% y/y. In U.S. news, former Fed Governor Bernanke was officially sworn in as chairman of the White House Council of Economic Advisers yesterday. U.S. May existing home sales will be released tomorrow and followed by May durable goods orders on Friday. Euro offers are cited around the US$ 1.2160 level.


The yen weakened vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥109.10 level and was supported around the ¥108.15 level. Technically, these levels are around the 23.6% and 50% retracement levels of the recent move from ¥106.50 to ¥109.65. Data released in Japan overnight saw its May trade deficit with China escalate 120.5% to ¥265.2 billion while it surplus with all of Asia fell 40.2% to ¥354.7 billion. Overall, the May trade surplus was off 1.0% m/m and down 68.3% y/y to ¥690 billion. This represented the fourth decline in five months and was attributed to weak export growth and a surge in import prices on account of oil and other commodities. Another data release saw the NLF May business sentiment of small companies come in mixed last month and it is expected to improve in June. Finance minister Tanigaki indicated he may engage his Chinese counterpart in bilateral talks. Dealers cited talk of an Asian central bank selling dollars for yen around the ¥109.00 figure. The Nikkei 225 stock index climbed 0.51% to close at ¥11,547.28. The euro was marginally lower vis-à-vis the yen as the single currency tested bids around the ¥131.70 level and was capped around the ¥132.40 level. The cross moved to an intraday low during early North American dealing. In Chinese news, Fed Chairman Greenspan and Treasury Secretary Snow are scheduled to testify tomorrow about U.S. – China economic relations before the Senate Finance Committee. U.S. lawmakers are expected to grill them about why China has not yet revalued its yuan currency and what the appropriate response should be. Ministry of Finance official Zhu Guangyao today said pressure from the U.S. will not accelerate China’s revaluation time frame because “it is a sovereignty issue.” Zhu also indicated political pressure will “delay the process.” Data released in China today saw May industrial profits climb 15.8% y/y. Chinese President Hu will attend the G8 summit in Gleneagles next month.

The British pound moved lower vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.8175 level and was capped around the $1.8325 level. Sterling fell precipitously during European dealing following the release of the minutes from Bank of England’s June Monetary Policy Committee meeting. MPC officials voted 7-2 to keep interest rates unchanged. Chief economist Bean and exiting MPC member Bell voted to lower interest rates, arguing that monetary expansion now may reduce the need for a larger cut later. The majority argued that a rate reduction now might send the signal that policymakers believe the economy is weaker than they actually believe it to be. These MPC meeting minutes will likely have a weakening effect on sterling as traders will shift back to expecting a rate cut by the end of 2005. Notably, one MPC official voted for a rate hike as recently as last month. Cable offers are cited around the US$ 1.8305/ 10 levels. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ₤0.6645 level and was capped just below the ₤0.6690 level. Euro offers are cited around the ₤0.6700 figure.


The Swiss franc came off vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2735 level and was supported around the CHF 1.2620 level. The pair reached an intraday high in early North American dealing. There is increased talk on trading desks of the Swiss franc being used as a funding currency for carry trades in which dealers borrow in Swiss francs and invest in currencies and assets with a higher yield. Dollar bids are cited around he CHF 1.2700/ 1.2650 levels. The euro came off marginally vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5390 level and was capped around the CHF 1.5430 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