User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday September 30, 2005 - 20:39:06 GMT

Share This Story:
| | Email

Forex: Mixed Eurozone Data Leaves Euro Unchanged

DailyFX Forex Fundamentals 09-30-05

By Kathy Lien, Chief STrategist of

· Stronger Data Fails to Clarify the Uncertainty Around the Dollar
· Mixed Eurozone Data Leaves Euro Unchanged
· Increased Consumer Spending in Japan Boosts Yen

US Dollar
There was more whipsaw price action in the dollar today, but no new direction. The dollar continues to remain trapped in a tight range as the mixed data released this morning clouds the air with uncertainty. Both US personal income and spending took a dive in the month of August with spending falling by the largest amount since November 2001. The US consumer is literally hanging by a shoestring with income falling and savings eroding. Even though the savings rate improved from –1.1% to –0.7%, it is still negative and only rebounding from the lowest savings rate that we have seen since 1959. With energy prices increasing, it seems that the US consumer has no buffer remaining. There have already been reports of increased credit card delinquency rates, with excessive gasoline charges contributing to the weakness. This has kept consumer confidence unrevised for the month of September at 76.90, which is the biggest drop in confidence that we have seen in 25 years. Most of the dollar positive releases that we have seen today have actually been attributed to higher inflation rates. The PCE (personal consumption expenditures) deflator as well as the core PCE deflators both edged higher in the month of August. The Chicago PMI provided a bit of a surprise leaping from 49.2 in August to 60.5 in September. Improvements were seen in 6 out of the 7 components led by a gain in the prices paid component. The solitary contraction however was in the employment component, which in our opinion is actually quite important especially heading into next week’s non-farm payrolls report, which is expected to be negative for the first time since May of 2003. There was also talk that the heavy repatriation flows that we saw these past two weeks were primarily related to the rush to take advantage of the Homeland Investment Act tax benefit before the end of the quarter. If this is true, then this demand could slow next week which should clear the air about where the market thinks the US economy is headed next.

Economic confidence in the Eurozone in improving, which continues to show the widening gap between how companies and consumers in Europe are feeling. Consumer sentiment across the board has been dampened by the political crises as well as high unemployment. Businesses on the other hand are benefiting from the weaker Euro and from signs that the US economic slowdown post Katrina may not be as deep as most may have initially feared. Consumers however have really been struggling. Retail sales in Germany fell for the second month in a row by a much larger than expected 0.8%. The market had actually been expecting a rebound. French consumer confidence remains very subdued, as the economy grew by a paltry 0.1% in the second quarter. Growth in the Eurozone’s second largest country has not exceeded 1% on a quarterly basis since the third quarter of 2003. Inflation though continues to tick higher with the flash estimate for September CPI increasing to 2.5% from 2.4%. Despite hawkish comments from ECB officials, the central bank continues to juggle weak growth with rising inflation, which means that monetary policy should remain unchanged for some time. This weekend, Dresden citizens will be headed to the polls to place their delayed ballots. Although their votes probably wont tip the polls all that much in Germany’s political stalement, more votes to Merkel’s party will certainly give her a louder voice to her claim for Chancellorship.

British Pound
Moving higher in light of the downbeat data, pound sterling favoritism was revitalized during the session as bullish investors reentered the market after a considerable downturn in the high yielding currency over the past few weeks. In line with the recent CBI distributive trends survey, consumer sentiment remains weak in Europe’s second largest economy according to a survey conducted by consultancy GfK. Plagued by higher energy costs, concerns over personal finances, and the overall economy, consumers restrained their everyday spending habits in the month. However, according to the GfK survey big ticket item purchases remained healthy. As a result, economists are now suggesting that the declines in consumption are slowing, similar to confirming evidence in the housing sector, relieving many a Bank of England policy maker as the main focus continues to be looming inflationary pressures. Ultimately, speculation looks to now increase on an absence of further rate cut considerations as different factors of the economy work themselves out. Just in time for the Bank of England meeting taking place next week with another “no change” call being taking into heavy consideration.

Japanese Yen
Investors digested relatively mixed economic data for the day with industrial production, consumer prices and unemployment on tap for the session. Adding to the overall optimism cast by yesterday’s better than expected retail sales figures, household spending data was slightly higher than the 3.3 percent decline in the month of July, slipping 1.3 percent. Although this figure does still indicate rather weak consumption, the slowdown looks to have narrowed a bit, suggesting that previous upbeat consumer sentiment may be disseminating throughout the region. In addition, national unemployment figures improved to a 4.3 percent rate in the quarter. However, nothing could take away from the highly anticipated industrial production and consumer price data. Disappointingly rising at a 1.2 percent pace, overall production fell below estimates of 1.8 percent for the month. However, the figure is encouraging as it reverses the severe decline witnessed in the previous month and finally indicative of positive expansion in the world’s second largest economy. Subsequently, core consumer prices also rose 0.1 percent according to the government’s statistics bureau in Tokyo. Given, the rise was no more than 0.1 percent, there is a nascent suggestion that deflation may be on the way out, coupled with higher crude oil prices. Nonetheless, today’s data sheds more than just a ray of sunshine as policy makers may have received exactly what they were looking for.


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