User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday November 14, 2005 - 15:57:49 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (14 November 2005)

The euro reversed course and moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.1690 level and was capped around the $1.1770 level. The common currency ran out of steam before attacking the $1.1775 level during Australasian dealing and came within 30 pips of testing last week’s low. A few themes look to dominate dealing this week. First, the U.S. dollar’s positive interest rate differentials over eurozone debt may continue to be the primary focus of dealers. Over the last few months, the correlation between the euro and the spread between one-year U.S. and eurozone debt has exceeded 85%, signifying trades’ preoccupation with yield plays. Second, incoming Fed Chairman Bernanke will appear before the Senate Banking Committee tomorrow and dealers will closely monitor his comments to see if they contain any comments about inflation-targeting. Outgoing Fed Chairman Greenspan spoke about the U.S. dollar and the U.S. current account deficit and concluded the dollar has to correct if the U.S. economy will narrow its massive trade deficit. Third, there have been hawkish comments from European Central Bank policymakers and dovish comments from EMU-12 finance ministers on the interest rate front. Most traders expect the ECB to tighten monetary policy for the first time in a couple of years and the only question is when. Fourth, U.S. inflation data will be released on Wednesday and if forecasts are correct, core retail inflation will have risen – an indication that higher energy prices are feeding through factory gates and impacting other sectors of the U.S. economy. Data such as this will only bolster the argument the Federal Open Market Committee is looking to push the federal funds target rate to at least 4.50%. Other U.S. data scheduled for the week include tomorrow’s retail sales and PPI data along with Thursday’s industrial production and capacity utilization numbers. In eurozone news, political horse-trading has cleared the way for Angela Merkel to become Germany’s next Chancellor but dealers are less-than-optimistic about the likelihood of significant economic and financial reforms being undertaken on her watch. Euro offers are cited around the $1.1740/ 1.1810 levels.

¥/ CNY

The yen extended recent losses vis-à-vis the U.S. dollar today as the greenback climbed to the ¥118.80 level and remained supported around the ¥117.85 level. Today’s intraday high represents the pair’s strongest print since August 2003 and a couple of factors contributed to the move. First, Japanese government officials stepped up their public comments about Bank of Japan and the inevitable unwinding of its long-standing quantitative easing policy. Ruling Liberal Democratic Party policy chief Nakagawa this weekend said the central bank “has no independence” in its policy and called on the BoJ to not change policy at this time. Similarly, Chief Cabinet Secretary Abe said an “all-out mobilization” of policy is required to help the economy overcome deflation. Koizumi himself also said it is premature to end the quantitative easing policy. The dismissal of the central bank’s independence in such a public manner evidences the increasingly hardline attitude of Prime Minister Koizumi’s revamped cabinet. BoJ is likely to being to normalize monetary policy in 2006 after consumer price inflation stabilizes above zero per cent. Data released in Japan overnight saw October department store sales decline 1.5% y/y and it was also reported that Japan’s September current account surplus expanded 6.5% y/y to ¥1.86 trillion, the fourth increase in nine months. Notably, the capital and financial account evidenced a net outflow of ¥1.31 trillion two months ago, wider than the ¥911.3 billion one year ago. MoF reported that Japanese investors purchased some ¥3.5 trillion of foreign debt last month, more than four times their purchase levels of September. Fund outflows are contributing to the yen’s weakness as Japanese investors seek higher global yields. Other data saw Tokyo-area October department store sales recede 1.5% y/y to ¥159.2 billion. The Nikkei 225 stock index lost 0.28% today to close at ¥14,116.04. Dollar bids are cited around the ¥118.20/ 117.40 levels. The euro gained ground vis-à-vis the yen as the single currency tested offers around the ¥139.35 level and was supported around the ¥138.25 level. The British pound and Swiss franc appreciated vis-à-vis the yen as the crosses tested offers around the ¥207.10 and ¥90.50 levels, respectively. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 8.0831, down from CNY 8.0856. It was reported that January – October actual foreign direct investment was off 2.12% y/y to US$ 48.41 billion while contracted foreign direct investment was up 22.53% during that period. It was also reported that October retail sales gained 12.8% y/y to CNY 584.7 billion while January – October industrial valued-added output was up 16.3%. All eyes are on China this week as U.S. President Bush visits following the APEC meeting. The Bush administration is said to be pressing the Chinese government for another yuan revaluation.

The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.7365 level and was capped around the $1.7495 level. The pair failed to move through the $1.7500 figure overnight and quickly came off during European dealing. Data released in the U.K. today evidenced a higher-than-expected increase in input prices while manufacturers’ output prices printed below expectations. These data suggest U.K. businesses are having difficulty passing on price increases to consumers and may be limiting their margins. Bank of England is set to release its quarterly inflation report on Wednesday and it is expected to project slower economic growth with inflation continuing to be above forecast. British media are reporting the report will allude to significant “downside” risks and this will likely keep the prospect of lower interest rates on the minds of Monetary Policy Committee members. Comments from BoE Governor King will be closely monitored to see how bearish he is about inflation prospects and economic growth. The British Chamber of Commerce today reduced its 2005 GDP forecast to 1.6% from 2.0% and BCC’s London Retail Consortium reported sales fell 2.3% y/y in October. Cable offers are cited around the $1.7410/ 1.7470 levels. The euro was well-bid vis-à-vis the British pound as the single currency tested offers around the £0.6745 level and remained supported around the £0.6720 level.


The Swiss franc came off vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.3170 level and was supported around the CHF 1.3060 level. Today’s intraday high was right around last week’s high and sets the table for a possible attempt at taking out the CHF 1.3200 figure. Swiss October import and producer prices data will be released on Friday. Most traders expect Swiss National Bank will tighten policy in about a month at its year-end news conference. Dollar bids are cited around the CHF 1.3120 level. The euro and British pound moved higher vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.5410 and CHF 2.2905 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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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