User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday July 4, 2005 - 15:32:43 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (4 July 2005)

The euro extended recent losses vis-à-vis the U.S. dollar today as the single currency traded as low as the US$ 1.1890 level and was capped around the $1.1950 level. Today’s low represented the pair’s lowest level since May 2004 and follows wild selling pressure on Friday when stops were reached below the $1.2030 level. The Independence Day holiday in the U.S. may limit the pair’s downside as liquidity will be thin. All eyes will be on this week’s G8 summit in Gleneagles, Scotland where global leaders will try to push an agenda that includes debt relief for Africa. President Bush this weekend called on the European Union to scrap farm subsidy payments as they are distributed in their current form, a very contentious issue in the European Union now. By doing so, Bush appears to be siding with the U.K. which has recently stated it will not renegotiate its multi-million euro annual rebate from the EU unless France agrees to change agricultural subsidy payments and invest the funds in future development projects. Another impetus for the euro’s decline was a statement from European Central Bank Governing Council member Noyer who indicated it is possible for a eurozone member country to exit the eurozone. This comment follows weeks of political wrangling in Italy where some officials are trying to at least partially bring back the lira. The common currency’s downside could be protected by bids ahead of a reported option barrier cited around the $1.1850 level. The German media is reporting that the conservative opposition party will raise the German value-added tax to 18% from 16% if they defeat Chancellor Schroeder in the early general election planned for 18 September. Data released in the eurozone today saw EMU-12 May PPI fall 0.2% m/m and rise 3.5% y/y while April’s tally was revised to +0.5% m/m and +4.3% y/y. Also, German June services PMI printed at 52.3, down from May’s 52.6 level and weaker-than-expected. All eyes will be on this week’s U.S. June non-farm payrolls report with consensus forecasts calling for around 190,000 new jobs created last month. Euro offers are seen around the $1.1940 level.


The yen established a new multi-month low vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥111.85/ 90 level in early Asian dealing. The pair could not sustain its early gains, however, and receded back to the ¥111.40 level in early North American dealing. Today’s activity follows strong buying activity in Friday’s North American session when the pair leapt from the ¥110.75 level to the ¥111.80 level. The yen was also strong today on its crosses where it registered gains vis-à-vis the euro, British pound, Swiss franc, Australian dollar, and others. Data released in Japan today saw the June monetary base increase 1.7% y/y, down from May’s 2.2% y/y rise. In political news, the ruling Liberal Democratic Party lost some assembly seats in Tokyo elections this weekend but it should not have a material impact on Prime Minister Koizumi’s policies. The Nikkei 225 stock index climbed 0.18% to close at ¥11,651.55. Dollar bids are cited around the ¥110.60/ 30 levels. The euro came off significantly vis-à-vis the yen as the single currency tested bids around the ¥132.50 level and was capped around the ¥133.45 level. Euro bids are cited around the ¥131.90 level. The British pound and Swiss franc depreciated to the ¥195.85 and ¥85.50 levels, respectively.

The British pound extended its recent downturn vis-à-vis the U.S. dollar today as cable tested bids around the $1.7570 level, its lowest print since May 2004. Selling pressure on sterling was firm on Friday with major stops hit below the $1.7900 figure and forced cable to close around the $1.7670 level. Likewise, the pair gapped down at the Australasian open overnight. Traders are selling the pound because there is a belief that Bank of England will be the next major central bank to ease monetary policy, possibly with an interest rate cut this month or next. To this end, the British Retail Consortium – which advocates lower interest rates – has accelerated the release of monthly sales data by one week to evidence the weak status of spending activity in the U.K. economy. The BoE’s Monetary Policy Committee will deliberate policy on Wednesday and Thursday. In M&A news, there is talk that T-Mobile may sell its U.S. subsidiary for as much as US$ 25 billion and there is speculation that Vodafone may be interested in acquiring it. In political news, there is talk the U.K. Treasury may postpone its planned 2006 spending review until 2006. Cable offers are seen around the $1.7670 level. The euro came off marginally vis-à-vis the British pound as the single currency tested bids around the ₤0.6755 level and was capped around the ₤0.6785 area.


The Swiss franc moved lower vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.3025 level and was supported around the $1.2965 level. The pair has not been this strong since May 2004 and technically has now retraced 23.6% of its move from CHF 1.8230 (July 2001) to CHF 1.1285 (December 2004). Dollar bids are seen around the CHF 1.2930 level. The euro came off vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5455 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