User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday April 19, 2006 - 14:03:08 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (19 April 2006)



The euro backed away from the U.S. dollar today as the single currency tested bids around the US$ 1.2295 level and was capped around the $1.2370 level. Technically, the pair traded just above the $1.2365 level, representing the 76.4% retracement of the move from $1.2590 to $1.1635. The dollar, however, is near seven-month lows across the board and the U.S. Dollar Index is just above lows dating back to January of this year and then lows dating back to September 2005. Traders moved out of dollars yesterday after fairly dovish Federal Open Market Committee meeting minutes were released that signaled interest rates are near a peak. The minutes read “Most members thought that the end of the tightening process was likely to be near and some expressed concerns about the dangers of tightening too much, given the lags in the effects of policy… The effects on spending of the substantial increase in short- and intermediate-term rates since June 2004 had probably not yet been fully felt.” Some Fed officials did not want the policy statement that read “some further tightening may be needed” and some “were concerned that market participants might not fully appreciate the extent to which future policy action will depend on incoming economic data, especially when an end to the tightening process seems likely to be near.” San Francisco Fed President Yellen yesterday noted the Fed is “highly alert” to the risk of too much monetary tightening. The fed funds futures market is now pricing in only about a 25% to 30% chance that rates will be raised at the June Federal Open Market Committee meeting. Data released in the U.S. today saw March headline consumer price inflation print at +0.4%, consistent with expectations, while the ex-food and energy core rate printed at +0.3% and the annualized core rate printed at +2.1% y/y. In eurozone news, German March producer price inflation was up 0.5% m/m and 5.9% y/y. Euro offers are cited around the US$ 1.2365/ 1.2415 levels.

¥/ CNY

The yen came off vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥117.65 level and was supported around the ¥116.75 level. Stops were hit above the ¥117.40 level, representing the 50% retracement of the move from ¥121.40 to ¥113.40. Data released in Japan today saw the February leading index upwardly revised to 90.9 from a preliminary reading of 80.0. A Liberal Democratic Party official indicated the rise in long-term Japanese interest rates may not hurt the economy immediately. Traders continue to be curious as to when Bank of Japan’s Policy Board will lift interest rates from their near zero per cent level. The February tertiary activity index and all-industry activity index will be released in Japan tomorrow night. The Nikkei 225 stock index climbed 0.68% to close at ¥17,350.12. Dollar bids are cited around the ¥116.45 level. The euro gained marginal ground vis-à-vis the yen as the single currency tested offers around the ¥144.80 level and was supported around the ¥144.25 level, just short of a fresh lifetime high. The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥210.00 figure while the Swiss franc was mostly flat vis-à-vis the yen, testing bids around the ¥91.95 level. The Chinese yuan appreciated strongly vis-à-vis the U.S. dollar today as the greenback closed at CNY 8.0135 in over-the-counter trade, down from CNY 8.0240, and at CNY 8.0149 in the exchange-traded market. All eyes are on President Hu as he visits President Bush tomorrow to discuss very political issues including foreign trade and currency values. China’s Commerce Ministry today raised its 2006 GDP forecast to 9% from 8%.

£

The British pound came off marginally vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.7795 level and was supported around the $1.7875 level. Technically, today’s intraday high was right around the 38.2% retracement of the move from $1.9225 to $1.7045. Minutes from the April Bank of England Monetary Policy Committee were released today and it confirmed a 7-1 vote in favour of keeping the headline repo rate unchanged at 4.50%. Outgoing external member Nickell was again the lone policymaker to vote for a monetary easing. Policymakers speculated in the minutes that the U.K. economy may be “rebalancing away” from final private domestic demand and consumption towards net exports. Furthermore, policymakers added “Such a rebalancing would have little impact on domestic inflationary pressure, despite slower consumption growth.” Cable has not been this strong since 25 January. Cable offers are cited around the US$ 1.7945 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the £0.6890 level and was capped around the £0.6935 level.

CHF

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2665 level and was capped around the CHF 1.2760 level. Technically, today’s intraday high is around the 50% retracement of the move from CHF 1.2240 to CHF 1.3285. Data released in Switzerland today saw March producer and import prices up 0.1% m/m and 1.6% y/y, consistent with forecasts. Dollar bids are cited around the CHF 1.2640 level. The euro and British pound moved higher vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.5690 and CHF 2.2745 levels, respectively.



AUD

The Australian dollar gained marginal ground vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.7445 level and was supported around the US$ 0.7410 level. Data released in Australia today saw the February Westpac-Melbourne leading index of economic activity rise 0.4 index points from January’s level. Australian dollar offers are cited around the US$ 0.7450 level.

CAD

The Canadian dollar was little-changed vis-à-vis the U.S. dollar today as the greenback tested offers around the C$ 1.1415 level and was supported around the C$ 1.1375 level. Technically, today’s intraday high was right around the 76.4% retracement of the move from $1.1300 to $1.1770. U.S. dollar offers are cited around the C$ 1.1460 level.

NZD

The New Zealand dollar gained ground vis-à-vis the U.S. dollar today as the kiwi tested offers around the US$ 0.6360 level and was supported around the US$ 0.6290 level. New Zealand dollar offers are cited around the US$ 0.6375 level.

Gold/ Silver

Gold extended its recent surge vis-à-vis the U.S. dollar today as the yellow metal tested offers around the US$ 626.74 level and was supported around the $621.20 level. Political instability in the Middle East, tensions with Iran, and inflation jitters continue to contribute to gold’s advances. Silver moved higher vis-à-vis the U.S. dollar as the pair tested offers around the US$ 14.30 level and was supported around the $13.90 level. Platinum and copper also reached new lifetime highs.

Crude oil

Crude oil moved higher vis-à-vis the U.S. dollar today as light, sweet crude for June delivery tested offers around the US$ 73.05 level and was supported around the $ 72.69 level. Tensions involving Iran and the international community continue to press energy prices higher. The press reported United Nations Security Council members and Germany failed to reach an agreement on the next step to take against Iran. The International Atomic Energy Agency will present a report to the Security Council by 28 April.

 

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