User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday August 19, 2005 - 10:36:49 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (19 August 2005)

The euro lost marginal ground vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2125 level and was unable to move above the $1.2190 level. The dollar stopped just short of testing its strongest level dating to 1 August and stops were reached below the $1.2160 level, representing the 61.8% retracement of the move from $1.1960 to $1.2485. Additionally, the common currency is poised to close the week down over 200 pips and this begets the question of whether the run-up to $1.2485 was profit-taking or the beginning of a larger correction. With no U.S. data scheduled for release today, traders are focusing on monetary policy following a decent week of U.S. data, including some hotter-than-expected wholesale and retail price inflation numbers. The Philadelphia Fed index of manufacturing improved was released yesterday and it rallied to 17.5 this month from 9.6, exceeding expectations and the highest level since April. The Fed funds futures market is currently pricing in 50bps of additional monetary tightening through the end of 2005 and another +25bps of tightening through the Federal Open Market Committee’s meeting in February. Minutes from the Fed’s June FOMC meeting will be released on 30 August and some dealers – albeit a minority – are pondering the chances of a +50bps move by the Fed. Most market participants, however, do not believe this is in the cards because the Fed continues to repeat its “removal of policy accommodation at a measured pace” mantra that has coincided with gradualist +25bps rate hikes. In eurozone news, it was reported that the EMU-12 trade surplus climbed to €6.5 billion in June from May’s revised surplus of €2.7 billion. Also, French GDP data were released today and they rose a provisional 0.1% in Q2 following Q1’s 0.4% increase. Euro offers are cited around the $1.2220/ 75 levels.

¥/ CNY

The yen moved lower vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥110.80 level and was supported around the ¥110.30 level. Technically, today’s high represents the 38.2% retracement of the move from ¥113.70 to ¥109.05 and the ¥110.95 level represents the 38.2% retracement of the move from ¥104.15 to ¥113.70. The pair is poised to gain around ¥1 this week through today’s European session and yen bears are eyeing the ¥111.30/ 35 level as the next upside target. Some dealers believe the yen could gain ground, however, if Tuesday’s June tertiary index evidences strong underlying domestic demand conditions. Both Bank of Japan and the Japanese government have recently spotlighted the improvements in personal consumption and stronger consumer demand translates into less investment capital being exported overseas. On the political front, Prime Minister Koizumi’s popularity ahead of the 11 September snap election he called continues to improve with more than 50% of the electorate supporting him and his reform-minded agenda. A win for Koizumi’s reformed Liberal Democratic Party at the polls may result in a stronger yen on the perception of continued and improved economic and financial reforms including privatization of the massive postal savings system. The Nikkei 225 stock index shed 0.13% today to close at ¥12,291.73. Dollar bids are cited around the ¥110.10 and ¥109.25 levels. The euro came off vis-à-vis the yen as the single currency tested bids around the ¥134.15 level after encountering offers around the ¥134.70 level. The British pound and Swiss franc were little-changed vis-à-vis the yen as the crosses tested bids around the ¥197.80 and ¥86.70 levels, respectively. The Chinese yuan depreciated vis-à-vis the U.S. dollar today as the greenback closed at CNY 8.1047, up from CNY 8.1007 yesterday.

The British pound was little-changed vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.7890 level and tested offers around the $1.7975 level. Stops were reached below the $1.7925 level, representing the 61.8% retracement of the move from $1.8330 to $1.7275. Technically, cable has traded at a lower low and/ or lower close every day this week and chartists are now eyeing the $1.7830/ 00 levels as downside targets. The outlook for sterling remains clouded. Bank of England’s Monetary Policy Committee lowered interest rates this month for the first time in two years but inflation data released since then have been strong. Moreover, BoE’s quarterly inflation report was more hawkish-than-expected, raising the likelihood that this month’s move in rates was a one-off event. Data released in the U.K. today saw John Lewis Partnership department stores recede 2.7% to £39.1 million in the week ending 13 August. Cable offers are cited around the $1.8010 level. The euro was largely unchanged vis-à-vis the British pound as the single currency tested bids around the £0.6775 level and was capped just below the £0.6800 figure.


The Swiss franc came off vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2760 level and was supported around the CHF 1.2695 level. Stops were reached above the CHF 1.2740 level, representing the 50% retracement of the move from CHF 1.3055 to CHF 1.2430. Data released in Switzerland today saw the July producer prices index climb 0.2% m/m and 0.6% y/y. Also, the producer and import price index was up 0.4% and 1.1% y/y, reflecting stronger prices for crude oil and related products. On an annualized basis, July import prices were up 2.0% y/y. Dollar bids are cited around the CHF 1.2665 level. The euro gained ground vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5485 level while the British pound appreciated vis-à-vis the Swiss franc and tested offers around the CHF 2.2850 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