User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday January 4, 2006 - 15:18:48 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Commentary and Analysis (4 January 2006)

The euro extended this week’s gains vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2110 level after finding support around the $1.2005 level. Technically, today’s high represents the 50% retracement of the move from $1.2585 to $1.1640. The release of the Federal Open Market Committee’s minutes from their 13 December rate-setting meeting were released yesterday and exacerbated the greenback’s early fall in 2006. Policymakers concluded “the number of additional firming steps required probably would not be large” and added the current outlook for monetary policy is “considerably less certain.” Many traders interpreted these remarks as an indication that the Fed does not have more than two monetary tightenings left in its current rate hike cycle. To this end, the markets expect the Fed will lift the federal funds target rate by +25bps to 4.50% at the end of this month, and then perhaps again on 28 March. Data released in the U.S. today saw U.S. retail chains’ same-store sales fall 0.8% w/w in the week ending 31 December. Also, November headline factory orders printed at 2.5%, exceeding expectations of 2.2%, but the U.S. dollar was unable to capitalize on this news. In eurozone news, European Central Bank Governing Council member Constancio was quoted as saying recent EMU-12 economic data have boosted optimism in eurozone growth prospects. Data released in the eurozone today saw flash EMU-12 inflation print at 2.2% last month, down from 2.3% in November while provisional harmonized consumer prices came in at 2.2% also. German November wholesale sales were off 0.1% m/m and up 2.2% y/y. The dollar was also dented following a 6.7 magnitude earthquake in the Gulf of California.

¥/ CNY

The yen scored marginal gains vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥115.60 level after encountering offers around the ¥116.40 level. Technically, today’s intraday high was just above the 38.2% retracement level of the move from ¥117.55 to ¥115.60. The yen lost considerable ground in its crosses overnight, an indication that 2006’s nascent “sell the dollar” mentality continues. There were not many data or news out of Japan overnight but many Japanese media published the results of corporate surveys that evidence increased optimism among Japanese companies. The November leading and coincident indices will be released on Friday along with November personal consumption expenditures. The big item on traders’ radar remains Bank of Japan’s monetary policy and how soon its long-standing quantitative easing policy will begin to be unwound. An end of deflation is the main criterion that BoJ policymakers await before they begin to reduce their current account surplus target. The Nikkei 225 stock index climbed 1.55% to close at ¥16,361.54. Dollar bids are cited around the ¥115.05 level. The euro came off vis-à-vis the yen as the single currency tested bids around the ¥139.40 level and was capped around the ¥140.45 level. The British pound and Swiss franc depreciated vis-à-vis the yen as the crosses tested bids around the ¥202.35 and ¥89.80 levels, respectively. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback fell to the CNY 8.0681 level, down from the parity rate of CNY 8.0702. China launched over-the-counter trading in the yuan today meaning some market-makers are permitted to provide continuous two-way interbank pricing. China’s government announced its 2006 trade surplus may exceed US$ 120 billion in 2006 and predicted retail sales will grow 12.5% to 13.5% this year. Also, the government predicted exports will expand some 18% to 21% and the consumer price index is seen up 1.5% to 2.5% this year.

The British pound extended yesterday’s strong gains vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.7595 level and was supported around the $1.7450. Technically, today’s intraday high was just shy of the 38.2% retracement of the move from $1.8495 to $1.7045. Data released in the U.K. today saw the CIPS December construction activity index fall to 52.6, its lowest level in seven months. Also, Bank of England reported that net mortgage lending climbed £8.7 billion in November, its highest level since July 2004. These data are important because they suggest the U.K. housing market has been moderating. Mortgage lending activity – particularly equity withdrawals – contribute significantly to consumption and final private demand in the U.K. Consumer spending, however, remains weak in the U.K. and retail sales data from the recent holiday period may determine the immediate course of U.K. interest rates. Some traders believe the Bank of England’s Monetary Policy Committee will ease interest rates as early as March. Cable offers are cited around the US$ 1.7705 level. The euro moved marginally lower vis-à-vis the British pound as the single currency tested bids around the £0.6865 level and was capped around the £0.6895 level.


The Swiss franc strengthened vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2790 level after running out of steam around the CHF 1.2910 level. Stops were hit below the CHF 1.2810 level, representing the 23.6% retracement of the move from CHF 1.1285 to CHF 1.3285. Data released in Switzerland today saw the December consumer price index recede 0.1% m/m and climb 1.0% y/y. Dollar bids are cited around the CHF 1.2765 level. The euro and British pound stumbled vis-à-vis the Swiss franc as the crosses tested bids around the CHF 1.5475 and CHF 2.2475 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

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