User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday August 11, 2005 - 16:09:46 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (11 August 2005)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2450 level and was supported around the $1.2380 level. Today’s high represents the common currency’s strongest print since 31 May and chartists are now eyeing the $1.2485/ 95 levels as the next upside target. The European Central Bank today characterized its current monetary policy as “appropriate” and predicted the eurozone economy will expand “in a sustained, albeit gradual, manner.” The ECB cited high oil prices, low consumer confidence, and “the persistence of global imbalances” as downside risks to stronger economic growth. Dealers concluded that the ECB’s monthly report was more hawkish than the July report and this supported the euro today. Data released in the eurozoen today saw Q2 GDP rise 0.3% q/q and 1.2% y/y, consistent with expectations but down from Q1’s 0.5% q/q and 1.4% y/y gains. Notably, the ECB left its Q3 growth forecast unchanged at a range of 0.2% to 0.6% while it now sees Q4 economic growth between 0.4% and 0.8% in what would be its strongest showing since Q4 2000. The German government today predicted economic growth will accelerate in H2 despite flat 0% expansion in Q2. In U.S. news, retail sales climbed 1.8% in July with automobile sales realizing their largest gains in nearly four years while the ex-autos component rose 0.3%. These data mean retail sales are up 10.3% y/y over the past year, the strongest gain in eleven years. Also, weekly initial jobless claims fell 6,000 to 308,000 last week. June business inventories data were released today and they evidenced the tightest inventory conditions on record with sales growth exceeding inventory accumulation. Even those these data add to the recent positive data from the U.S. economy, the U.S. dollar continues to weaken and is decoupling from recent economic performance. Euro offers are cited around the $1.2490 level.

¥/ RMB

The yen moved higher vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥109.75 level and was capped around the ¥110.70 level. Stops were triggered below the ¥110.05 level, the 38.2% retracement level of the move from ¥104.20 to ¥113.70. Traders moved into yen ahead of tonight’s Q2 Japanese GDP numbers with most forecasts focusing on a real 0.5% q/q, or 2.0% annualized, growth rate. This would represent the third consecutive quarterly expansion. Additionally, public opinion polls showing that increasing number of Japanese voters support Prime Minister Koizumi’s reform plans ahead of next month’s snap election on 11 September are also benefiting the yen. Koizumi dissolved parliament this week following its refusal to pass his pet postal privatization agenda. Data released in Japan today saw the June current account surplus fall 15.3% y/y to ¥1.087 trillion, the fourth decline in six months and below expectations. Likewise, the trade surplus lessened 23.1% y/y to ¥999.0 billion. Capital flows data released overnight saw Japanese investors buy a net ¥44.8 billion and ¥73.8 billion in foreign equities and bonds, respectively, in the latest weekly period. Foreign investors bought a net ¥495.0 billion in Japanese equities and sold a net ¥105.6 billion in Japanese bonds. Traders are closely monitoring the price of oil as September NYMEX crude continues to flirt with the psychologically-important US$ 65.00 figure. The Nikkei 225 stock index gained 1.37% to close at ¥12,263.32. Dollar bids are seen around the ¥109.25 level. The euro depreciated vis-à-vis the yen as the single currency tested bids around the ¥136.55 level while the British pound appreciated and tested offers around the ¥199.10 level. In Chinese news, the yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at RMB 8.1002 from RMB 8.1062. Data released in China today saw China’s January – July trade balance rose 32% y/y to US$ 407.94 billion. Also, China’s CPI expanded 1.8% y/y in July, up from June’s 1.6% y/y gain.

The British pound moved sharply higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.8090 level, its strongest showing since 30 June. Major stops were hit above the $1.8010 level and sterling eventually reached the 76.4% retracement level of the move from $1.8325 to $1.7270. There were no major data releases in the U.S. today and no major data releases are scheduled for tomorrow. The cable buying was seen as an extension of yesterday’s solid buying activity on the heels of a more hawkish-than-expected quarterly inflation report from Bank of England and corresponding hawkishness from BoE Governor King. Cable offers are cited around the $1.8240 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the £0.6875 level.


The Swiss franc came off vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2475 level and was capped around the CHF 1.2570 level. Today’s low represents the pair’s weakest trading levels since 8 June. Traders await the release of the Swiss July SECO consumer climate index. Dollar bids are cited around the CHF 1.2410 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5520 level while the British pound was little-changed vis-à-vis the Swiss franc.


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

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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