User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday March 30, 2006 - 14:43:23 GMT
GCI Financial -

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (30 March 2006)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2100 figure and was supported around the $1.2020 level. Stops were hit above the $1.2070/ 75 level, representing the 23.6% retracement of the move from $1.3480 to $1.1640. Data released in the U.S. today saw final Q4 2005 GDP print at 1.7%, just above the previous 1.6% estimate, while the GDP price index moved to 3.5% from 3.3%. The increase in price pressures is noteworthy because the Federal Open Market Committee reaffirmed on Tuesday that it is still in a data-dependent mode regarding additional monetary tightening and rate hikes. The combination of a higher-than-expected price pressures with depressed economic growth at the end of last year could be a concern to policymakers who have publicly stated that Q1 GDP is likely to have rebounded significantly. Other data released today saw weekly initial jobless claims fall 10,000 to 302,000 while continuing claims printed around 2.48 million. The common currency gained some ground overnight after the Governor of the United Arab Emirates’ central bank reiterated the central bank wants to raise the percentage of euro-holdings in its FX portfolio to 10% from the current 2% level. Some traders sold the dollar after yesterday’s five-year auction of U.S. Treasuries produced indirect bids of only 26%, the lowest in about a year. This is relevant because it suggests deceased demand for U.S. fixed-income assets from foreign central banks and monetary authorities. Data released in Germany today saw the March jobless rate at 11.4%, up from February’s 11.3% level. Also, February wholesale sales were up 1.6% m/m and 3.5% y/y while French February PPI was up 0.1% m/m. Some continue to buy the euro in anticipation of another interest rate hike by the European Central Bank as early as May. Most dealers do not expect higher rates in the eurozone next month. Euro offers are cited around the US$ 1.2225 level.

¥/ CNY

The yen moved higher vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥117.25 level and was capped around the ¥117.90 level. Technically, today’s intraday high was just below the 23.6% retracement of the move from ¥113.40 to ¥119.40. Bank of Japan Deputy Governor Iwata spoke about monetary policy overnight and said an inflation rate of 1% to 2% is desirable in the medium-term and rejected the notion the central bank will not raise interest rates before an inflation rate of 1% is evident. The BoJ ended its long-standing quantitative easing policy on 9 March and announced it will seek to keep inflation between 0% and 2% though stopped short of calling this a formal inflation target. Data released in Japan overnight saw February industrial output decline for the first time in seven months overnight. Capital flows data released overnight saw foreigners as net purchasers of Japanese equities for the week ended 25 March. At the same time, Japanese investors have been selling foreign bonds and this has led to net portfolio flows into Japan just ahead of tomorrow’s fiscal year-end there. Otherwise, dealers have been reporting less-than-normal corporate repatriation of overseas assets into Japan at the end of the fiscal year, reflecting the healthier state of Japanese corporate balance sheets and the Japanese economy. February nationwide consumer price inflation data and March Tokyo-area consumer price inflation data will be released in Japan overnight. A negative reading on deflation could cause the yen to sell-off while stronger-than-expected price pressures could be positive for yen bulls. Traders are also cautious about adopting more market risk ahead of Monday’s crucial quarterly tankan survey of corporate sentiment from Bank of Japan. The Nikkei 225 climbed 0.63% to close at ¥17,045.34, the first time it has eclipsed the ¥17,000 figure in more than five years. Dollar bids are cited around the ¥117.10 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥142.20 level and was supported around the ¥141.55 level. The British pound and Swiss franc appreciated vis-à-vis the yen as the crosses tested offers around the ¥204.80 and ¥90.25 levels, respectively. The Chinese yuan depreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 8.0268 in the over-the-counter market, up from CNY 8.0259, and at CNY 8.0263 in the exchange-traded market. U.S. Treasury official Adams noted China’s “important achievements” in moving towards a market-based exchange rate but added “China could easily move more rapidly towards greater flexibility. It should do so now.”


The British pound gained ground vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.7420 level and was supported around the $1.7335 level. Technically, the pair stopped just short of testing the 50% retracement of the move from $1.7620 to $1.7230. Data released in the U.K. today saw Nationwide March house prices up 1.1% m/m to levels not seen in a couple of years, dismissing last month’s first decline in eight months. This represents the latest evidence the all-important housing sector continues to stabilize and expand and was a nice reprieve for sterling after yesterday’s disappointing mortgage and CBI retail sales data. Chancellor of the Exchequer Brown spoke and railed out against the rising tide of protectionism on the Continent. Cable offers are cited around the US$ 1.7470 level. The euro moved slightly higher vis-à-vis the British pound as the single currency tested offers around the £0.6950 level and was supported around the £0.6925 level.


The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.3010 level and was capped around the $1.3105 level. Technically, today’s intraday low was right around the 38.2% retracement of the move from CHF 1.3230 to CHF 1.2870. The Swiss government today raised its 2006 GDP forecast to 2.0% from 1.8% on account of greater capacity utilization and stronger business sentiment. Dollar bids are cited around the CHF 1.2975 level. The euro gained marginal ground vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5770 level while the British pound weakened vis-à-vis the the Swiss franc and tested bids around the CHF 2.2660 level.


The Australian dollar appreciated vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.7135 level and was supported around the $0.7060 level. Data released in Australia overnight saw job vacancies in the three months to February up 4.7% and off 1.9% y/y. Australian dollar offers are cited around the US$ 0.7165 level.


The Canadian dollar lost significant ground vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 1.1605 level and was capped around the C$ 1.1730 level. Technically, today’s intraday high was just above the 61.8% retracement of the move from C$ 1.1975 to C$ 1.1300. February industrial product prices will be released in Canada today. U.S. dollar offers are cited around the C$ 1.1710 level.


The New Zealand dollar appreciated vis-à-vis the U.S. dollar today as the kiwi tested offers around the US$ 0.6105 level and was supported around the $0.6040 level. The pair yesterday traded with a $0.59 handle for the first time in a couple of years. New Zealand dollar offers are cited around the US$ 0.6175 level.

Gold/ Silver

Gold moved higher vis-à-vis the U.S. dollar today as the yellow metal tested offers around the US$ 583.50 level and was supported around the US$ 567.20 level. Today’s high represents a fresh 25-year high and chartists are now eyeing the psychologically-important US$ 600 figure. Physical demand in India and Asian countries and Iran’s negative response to a United Nations Security Council report contributed to the pair’s gains, as did quarter-end buying activity. Silver raced higher vis-à-vis the U.S. dollar and tested offers around the US$ 11.50 level and was supported around the $10.73 level. Today’s high was the pair’s strongest level since September 1983.

Crude oil

Crude oil rallied vis-à-vis the U.S. dollar today as light, sweet NYMEX crude for May delivery tested offers around the US$ 66.74 level and was supported around the $66.05 level. The United Nations Security Council urged Iran to end its uranium enrichment and officials in Tehran rejected the request. Security Council officials are meeting in Berlin today to consider additional steps.


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 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 14:00 US- Prelim 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