User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday June 23, 2004 - 15:44:41 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (23 June 2004)

The euro weakened vis-à-vis the U.S. dollar today as the single currency spiked to the US$1.2195 level before quickly shedding more than 100 points and stopping below the $1.2100 figure during North American dealing. Talk of a bomb in New York City filtered through the market and caused stops to be reached above the $1.2150 level during the move higher. Many traders are not in the market now ahead of the FOMC’s interest rate decision in one week. Philadelphia Fed’s Santomero last night said global competition has placed “enormous pressure” on U.S. firms to control costs some Fed sources were on the wires yesterday saying the Fed is hopeful that inflation pressures will ease. Coupled together, these two threads suggest a 25bps rate hike is a fait accompli next week. ECB member Weber today said the ECB should reconsider its policy stance if the employment picture improves in the eurozone while German finance minister Eichel said 2004 GDP could eclipse 1.5%. Data released in the eurozone today saaw French final May HICP at +0.4% m/m and +2.8% y/y while Italian retail sales were up +0.8% y/y in April. The German press reported today that the European Commission is debating a plan that would render the EU’s Growth and Stability Pact more flexible during periods of weaker economic growth. France today said it is committed to a freeze in government spending. In other eurozone news, the European Trade Union Confederation reported the ECB is exaggerating the dangers of second-round inflation. Options traders cite a DNT that rolls off on Friday at 1400 GMT with legs at $1.2050 and $1.2250. Traders cite this as the reason for the euro bids above the $1.2050 level today.


The yen moved higher vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥109.30 level before sinking to the ¥108.45 level. Japanese bids were seen around the intraday low from oil importers. MoF’s Watanabe verbally intervened by saying the government will “act as needed” on speculative moves. Watanabe’s verbal intervention is becoming increasingly important because he is expected to become the top MoF spokesman on FX after the July cabinet reshuffle. Data released in Japan overnight saw the May trade surplus widen for the eleventh consecutive month. Japanese exports to China were strong despite China’s recent efforts to slow its economy. The overall May surplus was up 35.5% y/y. Many traders are moving into yen ahead of next week’s quarterly tankan survey of corporate sentiment. The Nikkei 225 stock index was off 0.71% to close at ¥11,580.56. Dollar bids are seen around the ¥108.20 level ahead of option barriers noted at ¥108.00 and ¥107.50. Dollar offers are again cited around the ¥109.20/30 levels. The euro gained additional ground vis-à-vis the yen today as the single currency tested bids around the ¥131.15 level after peaking around the ¥132.40 level during European dealing. Major stops were reached below the ¥131.70 level today during the move lower. Euro offers are seen around the ¥132.50 level. In Chinese news, an economic research center said China’s trade deficit will narrow this year on account of the slower deficit. There was also a reported that power shortages in China are forcing investors to postpone investment plans.


The British pound lost ground vis-à-vis the U.S. dollar today as the cable tested bids around the US$ $1.8140 level after failing to get above the $1.8290 level during the spike higher in European dealing. The sharp move lower was precipitated by the release of minutes from the Bank of England Monetary Policy Committee meeting that saw a unanimous 9-0 vote to raise rates by 25bps at the 9-10 June meeting. The minutes read "For most members the May Inflation Report projections could have warranted a rise of 50 bps at that time.” Traders, however, dumped sterling on the notion that there was little to suggest the central bank would tighten policy again next month. Cable bids are cited around the $1.8125 level. The euro retraced most of its gains vis-à-vis the British pound today as the single currency fell from the £0.6680 level and tested bids around the £0.6640 level.


The Swiss franc moved lower vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2575 level after finding good bids around the CHF 1.2430 level. Swiss National Bank added one-week liquidity at 0.26% today, up from 0.24% yesterday. Data released in Switzerland saw the country register its 16th consecutive monthly trade surplus. The euro gained ground vis-à-vis the Swiss franc today as the single currency tested offers around the CHF 1.5190 level before backtracking to the CHF 1.5150 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

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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