User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday June 28, 2004 - 15:05:47 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market News and Commentary (28 June 2004)



The euro spiked higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2230 level following a spike higher from the $1.2175 level during early North American dealing. The pair moved lower to test bids around the 100-hr moving average during European dealing when it was learned that the U.S. had transferred sovereignty to Iraq some two days early. Geopolitical events may still dictate some markets moves this week, however, as there are reports that major terrorist attacks may still be planned for this week. Selling pressure from Asian names around the $1.2190 level was absorbed during the move higher later in the session. Options traders report an option barrier around the $1.2235 level. In addition to the transition of sovereignty to Iraq, traders are closely watching other events this week including the FOMC’s interest rate decision on Wednesday. The Fed is expected to tighten policy by 25bps on that day. Also, Wednesday is the last day of the first half and second quarter of 2004 and there could be related volatility. ECB chief economist Issing characterized the recent decline in German business confidence as “disappointing.” ECB’s Wellink spoke from the BIS today said he sees signs of global inflationary pressures “edging higher” and said commodity prices are the most visible inflation threat. He said global central banks need to tighten macroeconomic policies. In other news out of Basel today, G10 central bankers and regulators approved the so-called Basel II revision to the capital adequacy framework. Data released in the eurozone today saw EMU-12 M3 money supply growth below expectations at +4.7% y/y and these data have many traders guessing the ECB will not change monetary policy this week. Germany’s Jule consumer sentiment indicator rose to 5.0 in June while Italy’s June service sector confidence fell to +15 from +17. Also, Italian May PPI rose 0.9% m/m, above forecast. Euro bids are cited around the $1.2120/ 00 levels. Data released in the U.S. today saw May personal income increase +0.6% while personal consumption expenditures expanded 1.0% with real personal consumption expenditures up +0.4%. The lower real PCE data suggests that higher oil prices are deflating real spending. The headline figure, however, was the largest since October 2001.



¥

The yen lost a small around of ground vis-à-vis the U.S. dollar today but the greenback looked to be on the defensive during early North American dealing after encountering offers around the ¥108.20 level. The pair traded above its 100-hour moving average for a couple of hours but soon found itself below the ¥107.75 level. The move higher during Australasian dealing was precipitated by weaker-than-expected Japanese retail sales that saw a 1.2% m/m and 2.5% y/y decline in May with large store sales off 3.5% y/y. Technically, dollar bids are expected to emerge around the ¥107.35 level. Traders await the release of this week’s quarterly tankan survey of corporate sentiment on Thursday. The Nikkei 225 stock index climbed +0.88% to close at ¥11,884.06. Dollar bids are cited around the ¥107.00 figure with stops below that level. Dollar offers are cited around the ¥108.00 figure. The yen lost considerable ground vis-à-vis the euro today as the single currency tested offers around the ¥131.80 level after finding good demand around the ¥131.40 level during early North American dealing. A large French automotive company was seen buying the cross through the ¥131.70 level. Euro offers are cited around the ¥132.35 level.


£

The British pound climbed higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.8340 level before slipping below the $1.8300 figure during North American dealing. Cable spike to the $1.8275 level during European dealing but ran out of steam before testing offers around the $1.8350 level, an area that saw firm selling pressure on 21 June. Bank of England issued a half-yearly Financial Stability report today in which it concluded risks to U.K. financial stability have receded in the previous six months but added the “debt-laden U.K. consumer sector” is a concern. Cable bids are cited around the $1.8210/ 00 levels with additional bids seen around the $1.8170/25 levels. The euro was little changed vis-à-vis the British pound today as the single currency tested offers around the £0.6685 level and remained supported around the £0.6650 level. Euro bids are cited around the £0.6640 level and euro offers are cited around the £0.6700 figure.

CHF

The Swiss franc retraced most of its losses vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2435 level during early North American dealing. The pair spike more than 50 pips lower in short order after the pair tested offers around the CHF 1.2555 level. Swiss National Bank added one-week liquidity at 0.27% today. Traders await the release of Swiss KOF data on Wednesday and CPI data on Thursday. The euro moved higher vis-à-vis the Swiss franc today as the single currency tested offers around the CHF 1.5235 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 16 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 16 Oct
01:30 CN- CPI
21:45 NZ- CPI
Tue 17 Oct
08:30 GB- CPI
09:00 DE- ZEW Survey
09:00 EZ- Final HICP
Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



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