User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday June 29, 2005 - 14:10:09 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (29 June 2005)

The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2025 level after failing to get above the $1.2075 level. The pair move towards retesting intraday lows after the release of final Q1 U.S. GDP data that saw a +3.8% print, above expectations and above the previous revision of +3.5% and initial estimate of +3.1%. Also, the GDP inflation measure rose 2.0% in Q1, down from the previous estimate of 2.2% and up from Q4’s 1.7% level. The Federal Open Market Committee’s two-day interest rate meetings began today and dealers await the Fed’s decision at 18:15 GMT tomorrow. Most traders believe the Fed will lift the federal funds target rate by +25bps and the real question remains what the Fed will say about inflation prospects and whether they offer any clues about a pause in monetary tightening. Data released in the eurozone today saw French May producer price inflation fall 0.3% m/m and up 2.4% y/y. Germany’s DIW institute downwardly revised its 2005 GDP forecast to +0.9% from +1.8% and lowered its Q2 GDP forecast to -0.1% q/q from +0.2%. Similarly, the IMF raised its 2005 GDP forecast to 1.0%. Also, Bundesbank upwardly revised Germany’s April industrial output to 1.3% from March’s level. The European Commission today reported Italy must remedy its budget deficit by the end of 2007 and Fitch Ratings reduced Italy’s credit ratings outlook to negative, as it has done with Portugal. In other European Union news, French Prime Minister de Villepin called on the European Central Bank to increase its dialogue with eurozone countries to “coordinate economic policies in the region.” Euro bids are cited around the $1.1980 level with stops below that area.


The yen extended recent losses vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥110.40 level and was supported around the ¥109.70 level. This represented the pair’s highest level since 8 October 2004 and dealers suggest the pair’s upside is now only limited by an option barrier that is cited around the ¥110.50 level. Data released in Japan overnight saw May industrial production decline 2.3% m/m and was up +0.9% y/y. The government is forecasting industrial production growth of +1.7% in June but next month’s tally is expected to fall 1.2%. As has been the case in recent months, adjustments in the information technology sector were behind the weak industrial production number. Other data released today saw May construction machinery shipments climb 15.2% y/y. Also, it was reported that Japanese direct investment overseas fell 6.3% to ¥3.82 trillion. Traders continue to monitor the price of oil and its damaging effect on Japan’s economy; NYMEX futures are back down around $58.00 on profit-taking. Dealers await Friday’s release of the quarterly Bank of Japan tankan survey of consumer sentiment. Most forecasts are pointing to a marginal pullback in corporate sentiment among large manufacturers and non-manufacturers on account of higher oil prices. The Nikkei 225 stock index gained 0.55% to close at ¥11,577.44. Dollar bids are cited around the ¥109.55 level. The euro moved higher vis-à-vis the yen as the single currency traded as high as the ¥133.20 level and was supported around the ¥132.45 area. Stops were reached above the ¥132.80 level. In Chinese news, People’s Bank of China has been criticized by the National Audit Office for “off-budget spending.” Also, the official government newspaper – People’s Daily – published a significant piece about why China has to revalue the yuan carefully. Chinese officials will attend the G8 summit in Gleneagles but are unlikely to revalue the yuan anytime soon.

The British pound depreciated sharply vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.8020 level and was capped around the $1.8180 level. Many traders believe the pair is headed towards to $1.7965 level that, if broken, would open up the $1.7480 area. Data released in the U.K. today saw BoE May mortgage approvals print at 96,000, up from April’s 95,000 tally and the strongest print since July 2004. Also, May net consumer credit came in around ₤1.845 billion, up from ₤1.337 billion in April. In contrast, CBI reported June sales could be the worse on record with the total sales volume falling to -19 from -7 in May. The underlying three-month sales balance printed at -13, down from -10 in May. These data are important because they suggest final private demand is waning. Many dealers believe Bank of England’s next interest rate will be lower, probably in H2. Cable offers are cited around the $1.8085 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.6680 level and was supported around the ₤0.6625 level.


The Swiss franc came off vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2855 level and was supported around the $1.2785 level. Data released in Switzerland today saw the June KOF leading indicator print at 0.46 while the May and June tallies were downwardly revised to 0.49 and 0.53, respectively. These data suggest Swiss economic growth may be stagnant through Q3 and Q4. Dollar bids are cited around the CHF 1.2735 level. The euro gained ground vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5475 level and was supported 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 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 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