User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday October 10, 2005 - 14:17:56 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (10 October 2005)



The euro shed some recent gains vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2060 level and was capped around the $1.2150 level. The common currency came off as traders debated news that Germany’s chancellorship has gone to Christian Democratic Union leader Angela Merkel. Former chancellor Gerhard Schroeder and his Social Democratic Party ceded the top slot in the government but will retain key portfolios including the finance, foreign, justice, and labour ministries as part of a “grand coalition.” Traders are therefore questioning how much has really changed in Germany and whether or not this broad coalition will be able to enact and pass key reform measures or whether Germany will continue to be mired in years of sub-par growth. The common currency gained some ground last week when European Central Bank President Trichet signaled the central bank is becoming increasingly hawkish. Eventually, after the Federal Reserve ends its current monetary tightening cycle, focus will shift more heavily to the ECB as it is probable that EMU-12 interest rates will have to increase by 225 or 250 bps before they equilibrate with U.S. interest rates. This could pressure the U.S. dollar and support the common currency. Trichet today repeated his call that eurozone countries need to reform their economies or suffer from slower growth. Another story that dealers are watching is the bankruptcy of U.S. automotive company Delphi that was announced on Saturday, representing the largest bankruptcy in U.S. automotive history. Data released in the eurozone today saw the German August trade surplus print at €11.6 billion, down from July’s revised surplus of €14.5 billion. Euro offers are cited around the $1.2160 level.

¥/ CNY

The yen moved lower vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥114.25 level and was supported around the ¥113.55 level. Japanese financial markets were closed today for a holiday and shall reopen overnight. The pair remains about fifteen pips shy of testing fresh multi-month highs just below the ¥114.50 level, an area where offers are said to be in place related to options activity. The September economy watchers’ survey will be released tomorrow followed by September consumer confidence and Bank of Japan’s monthly report on Wednesday. Other data will be released later this week including the September consumer goods price index and these data may reveal a further deceleration in deflationary pressures. Notably, International Monetary Market data indicates speculators have accumulated their largest net short yen futures position since May 1999. Dollar bids are cited around the ¥113.40/ 112.65 levels. The euro came off marginally vis-à-vis the yen as the single currency tested bids around the ¥113.75 level after encountering offers around the ¥138.25 level. The British pound moved marginally higher vis-à-vis the yen as sterling tested offers around the ¥200.55 level while the Swiss franc moved lower vis-à-vis the yen as the pair tested bids around the ¥88.80 level. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at the CNY 8.0864 level, down from CNY 8.0876. Data released in China today saw the September consumer confidence index print at 94.3, down from June’s 94.6 level.


The British pound came off vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.7535 level after encountering offers around the $1.7630 level. Stops were triggered below the $1.7575 level and the pair is about 30 pips away from establishing fresh multi-week lows. Data released in the U.K. today saw September raw materials price index decline in September while output prices escalated above forecast. Also, ODPM house prices remained steady in August with annual house price inflation at 2.8%, down from July’s 4.0% pace. Cable offers are cited around the $1.7615 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the £0.6875 level.

CHF

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2850 level and was supported around the CHF 1.2750 level. International Monetary Market data indicates net short positions in Swiss franc futures are at their highest level since May 1999. On the monetary policy front, most traders believe Swiss National Bank may tighten policy by the end of the year. Dollar bids are cited around the CHF 1.2760 level. The euro came off vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5490 level while the British pound gained ground vis-à-vis the Swiss franc and tested offers around the CHF 2.2540 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."



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.

Register To Test Your Amazing Trader


Trading Ideas for 20 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales


Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.


  • POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing statistic.



John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

Global-View.com 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 Global-View.com. 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.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

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