User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday December 7, 2005 - 18:07:26 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (7 December 2005)

The euro extended recent losses vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.1705 level and was capped around the $1.1805 level. Technically, the common currency’s failure to hold the $1.1760/ 65 level – the 23.6% retracement of the move from $1.2170 to $1.1640 – is bearish. There was a dearth of new economic data or news in the eurozone and U.S. today. On the fiscal front, only four of 25 member states from the European Union are supporting the U.K.’s budget proposal for the EU from 2007. The U.K. holds the rotating six-month EU presidency for another couple of weeks and the U.K. is desperately trying to put forth a budget deal for 2007 – 2013 that the EU can agree to. Data released in the U.K. today saw Challenger planned layoffs escalate 22% last month to 99,279. German October industrial production data will be released tomorrow followed by U.S. weekly initial jobless claims. University of Michigan consumer sentiment data will be released in the U.S. on Friday and will be closely watched by economists to gauge the mentality of U.S. holiday shoppers. Euro offers are cited around the $1.1840 level.

¥/ CNY

The yen lost marginal ground vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥121.15 level and was supported around the ¥120.55 level. Bank of Japan Policy Board member Haru spoke about monetary policy overnight and said the central bank may need to reduce its reserve target range before it ends its long-standing quantitative easing policy. Haru also said there is a strong possibility the central bank will move to an interest rate target in the year to March 2007. BoJ Governor Fukui met with Prime Minister Koizumi today and the two discussed deflation. Over the past couple of months, the central bank has adopted an increasingly dovish tone with regard to interest rates and has questioned the BoJ’s independence. News of today’s meeting is important because it suggests there may have been a thaw in the icy relations between the government and central bank. In fact, Koizumi today said it is now premature for the central bank to end its quantitative easing policy. Data released in Japan today saw the October leading index improve to 80.0 from 45.5 in September. The Nikkei 225 stock index gained 0.40% to close at ¥15,484.66. Dollar bids are cited around the ¥120.20/ ¥119.85 levels. The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥141.55 level and was capped around the ¥142.55 level. The British pound and Swiss franc moved lower vis-à-vis the yen as the crosses tested bids around the ¥209.15 and ¥92.60 levels, respectively. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 8.0771, down from CNY 8.0880. Another government estimate was released today that sees GDP up 8.5% to 9.0% in 2006. In other Chinese news, People’s Bank of China announced it is suspending part of its regular weekly open market operations. Some traders believe this may reflect the central bank’s concern with the speed at which interbank interest rates are climbing.

The British pound extended recent losses vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.7290 level and was capped around the $1.7430 level. Technically, the pair was supported just above the 50% retracement of the move from $1.7520 to $1.7045. Data released in the U.K. today saw NIESR estimate that U.K. GDP expanded 0.4% in the three months to November from the previous three months, well below trend growth levels. Also, IDS reported U.K. pay deals are mostly contained in advance of upcoming January wage negotiations while BRC indicated its November shop price index grew 0.43% m/m. Additionally, Nationwide reported its consumer confidence index improved to a four-month high. Cable offers are cited around the $1.7405 level. The euro came off vis-à-vis the British pound as the single currency tested bids around the £0.6750 level and was capped around the £0.6775 level.


The Swiss franc moved lower vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.3160 level and was supported around the CHF 1.3040 level. Technically, today’s high was right around the 23.6% retracement of the move from CHF 1.2760 to CHF 1.3285. Data released in Switzerland today saw the November jobless rate remain unchanged at 3.7%. Most traders expect Swiss National Bank to tighten monetary policy when the central bank convenes this month. Dollar bids are cited around the CHF 1.3085/ 1.3020 levels. The euro came off vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5385 level while the British pound moved higher vis-à-vis the Swiss franc as sterling tested offers around the CHF 2.2800 figure.


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