User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday August 9, 2005 - 16:07:44 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (9 August 2005)



The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2330 level after encountering resistance around the $1.2415 level. Technically, the common currency moved above the 38.2% retracement level of the move from $1.3085 to $1.1870 but failed to hold the level. Traders are poised for a probable +25bps interest rate hike from the Federal Open Market Committee this afternoon in what would be its tenth consecutive quarter-point monetary tightening. The Fed’s post-meeting policy announcement is what traders are most interested in. Policymakers have maintained a incrementalist and gradualist outlook on rates for quite some time and market participants are curious to see if the FOMC will signal a deceleration in tightening or inflation expectations. A couple of things are likely to be on the forefront of policymakers’ minds and both relate to inflationary pressures. Albeit core producer price and consumer price pressures remain muted, there has been a discernible increase in average hourly earnings and wages. Additionally, September NYMEX oil is at record intra-contract highs and is eating into final private demand. Data released in the U.S. today saw Q2 productivity decelerate to an annualized 2.2%, down from a revised 3.2% in Q1 and preliminary Q2 estimates of 2.9%. Over the past four quarters, productivity has gained 2.3%, its smallest year-on-year gain since Q3 2004. Unit labour costs have jumped 4.3% over the past year, the strongest gain since Q3 2000. In euronews news, European Central Bank Chief Economist Issing noted there have recently been a series of positive signs in the eurozone economy and expresses caution about the high price of oil. Data released in the eurozone today saw Germany’s June trade surplus at €14.8 billion, an improvement over May’s €12.1 billion level. July wholesale prices rose 0.5% m/m in Germany while France’s central government deficit was up €3.7 billion y/y in June.

¥

The yen was marginally weaker vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥112.20 level and was supported around the ¥111.65 level. Technically, today’s high was right around the 61.8% retracement of the move from ¥113.70 to ¥109.80 and today’s low was just below the 50% retracement level of the same range. Data released in Japan overnight saw June core private-sector machinery orders climb 11.1% m/m, above expectations, while they climbed +5.4% y/y and 0.8% q/q. Japan’s government upgraded its assessment of the economy in a report released overnight and reported the economy has overcome a prolonged soft-patch. Also, the government maintained its forecast for Japan’s economy and continues to predict it will expand a real 1.6% in the fiscal year to March 2006. Notably, the government upgraded its estimates for private consumption, business investment, and government spending while lowering its forecast for net exports. If these estimates materialize, they are likely to be coincident with an end to Japan’s long-standing bout with deflation and Bank of Japan is likely to tighten monetary policy shortly thereafter. The central bank maintained its ultra-easy monetary policy overnight and it is likely policymakers debated the merits of reducing the current account surplus target from the current ¥30 – 35 trillion range. BoJ Governor Fukui today said the “soft patch” in Japan’s economy may soon be over and reiterated consumer prices are likely to be positive by the end of the year. On the political front, Prime Minister Koizumi appears poised to hold the snap election he called yesterday on 11 September in what could a major housecleaning of the ruling Liberal Democratic Party. Koizumi failed to secure enough votes in parliament to pass the postal savings privatization bill he has championed as a cornerstone of his economic and financial reform policies. The Nikkei 225 stock index climbed 1.03% to close at ¥11,900.32. Dollar bids are cited around the ¥111.45 level. The euro came off vis-à-vis the yen as the single currency tested bids around the ¥138.20 level and was capped around the ¥138.70 level. The British pound and Swiss franc depreciated vis-à-vis the yen as the crosses tested bids around the ¥199.55 and ¥88.75 levels, respectively. The dollar depreciated vis-à-vis the yuan today as the greenback depreciated from the RMB 8.1090 to RMB 8.1070. In Chinese news, People’s Bank of China relaxed regulations on the sale of yuan forwards following last month’s revaluation of the yuan.



The British pound was little-changed vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.7820 level and was capped around the $1.7915 level. Data released in the U.K. today saw July retail sales fall 1.9% y/y, the worst showing for the month of July in ten years. This represented the fourth successive monthly decline and the slowdown is accelerating. Other data released in the U.K. today saw the June global goods trade deficit narrow to -£4.277 billion from -£4.981 billion. On the political front, the U.K. will convene a special European Union summit on 27-28 October and ratification of the EU’s constitution and ongoing budget issues are likely to be at the top of the agenda. Cable offers are cited around the $1.7925 level. The euro came off marginally vis-à-vis the British pound as the single currency tested bids around the £0.6915 level and was capped around the £0.6940 level.

CHF

The Swiss franc lost a slight amount of ground vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2630 level and was supported around the CHF 1.2540 level. Swiss June retail sales and the July SECO consumer climate index will be released on Thursday. Dollar bids are cited around the CHF 1.2565/ 1.2465 levels. The euro moved higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5585 level while the British pound gained ground and tested offers around the CHF 2.2520 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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

Global-View.com 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 Global-View.com. 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.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105