User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 27, 2005 - 11:14:49 GMT
Mellon Bank Foreign Exchange -

Share This Story:
| | Email

Forex: Mellon FX Daily - U.S. Edition

Key Points
• USD upside bias checked a little by strong IFO number.
• NZD hit by higher than expected trade deficit.
• GBP continues to underperform.
• US consumer confidence and Fed speakers feature today.

Market Outlook

The USD was firm through the Asian session, aided by a fairly hawkish message from the Fed’s Hoenig, although a stronger than expected German IFO provided support for EUR-USD in Europe. The bias still looks to be for more USD gains over the next 1-2 weeks, although the IFO may just buy the EUR some time going through the remainder of the week’s US data releases.

The jump in the headline IFO number was largely due to a sharp rise in the current conditions component, which soared to its highest level since March 2001. IFO did state that the responses to the survey since the German election had been more negative, but only on the expectations component. The responses with regard to current conditions had been strong either side of the poll. In this regard, it is comforting that the German economy was seemingly in such fine fettle ahead of the election - a fact borne out by the strength seen in orders and output data. IFO also made the point that a CDU led grand coalition would provide a boost to business sentiment. 1.2080- 1.2100 is the main resistance to look at on EUR-USD, while main support is at 1.1950 and 1.1866.

With the focus very much on US interest rate prospects the JPY remains out of favour. From an overall fundamental perspective the JPY looks reasonably appealing, although with zero interest rates it retains vulnerability in the face of higher US rate prospects. If the USD advances further against the EUR, it is likely to do the same against the JPY and above 113.00 would leave risk to 113.70.

Non-seasonally adjusted UK mortgage approvals were stronger than expected, with ‘base effects’ aiding the ongoing improvement in the y/y rate from the heavily negative territory it entered during the second half of last year. However, the market will prefer to see the seasonally adjusted mortgage approvals data for all lenders that will appear on Thursday. There is upside risk on EUR-GBP while above 0.6800.

The NZD was a big loser overnight, reacting negatively to the much higher than expected visible trade deficit of NZ$1.1bn (a new record). This merely reinforces the likelihood of the NZD suffering further at the hands of the USD if the latter advances against the majors. Below 0.6800 would leave risk towards 0.6700.

Day Ahead
US – a number of Fed speakers (including Greenspan) may talk about the economy today and they are likely to reiterate the broadly robust message that came out of last week’s FOMC meeting. Bush policy adviser Bernanke is also scheduled to talk about the economy. On the data side new home sales will likely confirm ongoing housing market strength, while the main focus will be on the consumer confidence number. If it is to be consistent with the recent showings in other measures of sentiment (weekly ABC/Money magazine, University of Michigan) then a fairly sharp drop should be forthcoming. However, it will need to be very sharp fall to represent fresh news to the market. As usual, the responses on labour market categories will also be monitored.

Data/event EDT Consensus*

US Chain store sls (w/e Sep 24) w/w 07.45 -2.1% last
US US govt’s Bernanke spks on econ 08.15
US Redbook sls (w/e Sep 24) m/m 08.55 +0.4% last
US New home sales (Aug) 10.00 1325k
US Consumer confidence (Sep) 10.00 95.0
US Fed’s Yellen on economy 12.00
US Fed’s Greenspan on ‘economic flexibility’ 14.45
US ABC consumer conf (w/e Sep 25) 17.00 -23 last
US Fed’s Hoenig on econ 21.45

Latest data Actual Consensus*
NZ Trade balance (Aug) -NZ$1.1bn -NZ$0.8bn
JP CSPI (Aug) y/y -0.8% -0.7%
EU M3 (Aug) y/y +8.1% +7.9%
EU M3 (Aug) 3m y/y +7.9% +7.8%
EU Private sector lending (Aug) y/y +8.4% +8.3%R last
DE Overall IFO index (Sep) 96.0 94.2
DE IFO Current conditions (Sep) 96.4 93.8 last
DE IFO Expectations (Sep) 95.5 95.4 last
GB BBA mortgage approvals (Aug) y/y +8.5% -6.0% last
EU Trade balance (Jul, prel) €1.0bn €2.6bn
* Consensus unless stated

2005, Mellon Financial Corporation Note: Although obtained from sources believed by us to be reliable, Mellon Financial Corporation and its affiliates cannot guarantee the accuracy or completeness of the information upon which this report is based. This report does not purport to disclose the risks or benefits of entering into particular transactions and should not be construed as advice in any specific instance. The views in this report constitute our judgement as of this date and are subject to change without notice.
Ian Gunner 44 20 7163 5996 06.40 EDT Monday May 31 2005


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.

Upgrade Your Trading experience. Try the Amazing Trader

Trading Ideas for 15 January 2018

Upgrade Your Trading. Try The Amazing Trader

Amazing Trader EVENT RISK Calendar:

Mon 15 Jan 2018
00:00 US- Holiday
Tue 16 Jan 2018
09:00 GB- CPI
20:00 US- Beige Book
Wed 17 Jan 2018
00:30 AU- Employment
02:00 CN- GDP
10:00 EZ- final HICP
14:15 US- Industrial Production
15:00 CA- Bank of Canada Decision
Thu 17 Jan 2018
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
16:00 US- EIA Crude
Fri 18 Jan 2018
09:30 GB- Retail Sales
15:00 US- University of Michigan (prelim) Survey

PROSPECTIVE Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH- Wed -- 00:30 GMT-- AU- Employment

  • POTENTIAL PRICE RISK: Medium- Wed -- 10:00 GMT-- EZ- Final HICP

  • POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production

  • POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision

  • John M. Bland, MBA
    co-founding Partner,

    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.



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