User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday September 5, 2005 - 14:58:40 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (5 September 2005)

The euro was little-changed vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2585 level and was supported around the $1.2525 level. Today’s high was a few pips shy of a multi-month high dating back to 26 May for the common currency. Many market participants expect the U.S. dollar will continue to be pressured on account of uncertainty regarding how well the U.S. will weather the economic and financial effects of hurricane Katrina. Speculation that the Federal Reserve will pause in its current monetary tightening cycle when the Federal Open Market Committee convenes on 20 September has led to dollar weakness recently. The fed funds futures market is currently pricing in a federal funds target rate of 3.75% by the end of the year, down from expectations of a 4.25% rate just a couple of weeks ago. Traders will be paying close attention to any indications from U.S. government officials or policymakers about how successfully or unsuccessfully the economy is grappling with Katrina’s impact. The most obvious indicator on traders’ radar remains the price of crude oil futures. After printing above the psychologically-important US$ 70.00 level last week, crude futures backed off and are trading with a $68.00 handle now. U.S. financial markets are closed today in observance of the Labour Day holiday there thus liquidity will be thin later in the day. In eurozone news, the August German services PMI number printed at 54.6, up from 53.8 in July, while the EMU-12 services PMI number dipped slightly to 53.3 from 53.5. Also, French June retail sales were off 0.2%, down from May’s +0.2% rise. In other French news, the government there informed the European Commission that its public budget deficit will be around 3% of GDP in 2005, up from its most recent estimate of 2.9%. European Central Bank member Bini-Smaghi today reported the ECB’s latest economic forecasts are based on an assumption that the potential growth rate in the eurozone will be below 2%. Additionally, Bini-Smaghi rejected calls from France for a dialogue between eurozone member states and the central bank regarding coordination of economic policies. Bini-Smaghi called on eurozone member states to plan their budgets simultaneously “with the same macroeconomic assumptions.” Data to be released in the U.S. this week include U.S. retail sales, consumer confidence, and jobless claims. Chicago Fed President Moskow and San Francisco Fed President Yellen will also speak this week and their comments will be parsed extra closely by traders. Euro offers are cited around the $1.2645 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥108.75 level and was capped around the ¥109.80 level. Stops were reached below the ¥108.90 level that technically represents a 50% retracement of the move from ¥104.15 to ¥113.70. Chartists are eyeing the ¥108.20/ ¥107.80 levels as the next downside targets for the pair. A general election will be held on Sunday and most public opinion polls show incumbent Prime Minister Koizumi’s Liberal Democratic Party with a lead whereby they could win some 250 of 480 seats. The yen is rallying on this supposition because Koizumi champions a reform-minded agenda, including privatization of the postal savings system. The dollar has not been this weak since 23 June and many dealers expect the pair will continue to weaken given the uncertainty regarding the U.S. economy in the aftermath of hurricane Katrina. Data released in Japan today saw April – June combined corporate capital spending expand 7.3%, the ninth consecutive monthly quarter of expansion, while the combined current profit measure of non-financial companies at the parent level escalated 12.9% y/y in that quarter for the twelfth consecutive quarter. The Nikkei 225 stock index gained 0.3% to close at ¥12,634.88, its strongest close since 3 July 2001. July household spending data will be released in Japan overnight. Dollar bids are cited around the ¥108.25 level. The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥136.55 level and was capped around the ¥137.65 level. The British pound and Swiss franc depreciated vis-à-vis the yen as the crosses tested bids around the ¥201.05 and ¥88.50 levels, respectively. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed around the CNY 8.0916 level, down from Friday’s close of CNY 8.0935 level. News emerged from Europe today that the European Commission has reached a deal with China on its textiles dispute.

The British pound moved moderately higher vis-à-vis the U.S. dollar today as the cable tested offers around the US$ 1.8495 level and was supported around the $1.8370 level. Technically, today’s high was just above the 61.8% retracement of the move from $1.9215 to $1.7270. Data released in the U.K. today saw the August PMI services index print at 55.2, down from 56.3 in July and below expectations. Some attention will be focused on the political scene in the U.K. where Prime Minister Blair is expected to outline some plans for achieving goals during the U.K.’s current EU presidency. Bank of England’s Monetary Policy Committee will convene on Wednesday and Thursday and is not expected to change monetary policy. Cable offers are cited around the $1.8755 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the £0.6780 level and was capped around the £0.6820 level.


The Swiss franc lost ground vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2320 level and was supported around the CHF 1.2240 level. Notably, however, today’s intraday low was the pair’s weakest level since 20 May of this year. Swiss National Bank member Hildebrand will speak on Thursday and August unemployment will be released the same day followed by Q2 GDP data on Friday. Dollar bids are cited around the $1.2225 level. The euro and British pound gained ground vis-à-vis the Swiss franc today as the crosses tested offers around the CHF 1.5445 and 2.2750 levels, respectively.


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