User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday June 5, 2006 - 14:40:26 GMT
GCI Financial -

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (6 June 2006)

The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2980 level and was supported around the $1.2920 level. Today’s intraday high represented the pair’s strongest print since 5 May 2005 and sets the stage for a run at the psychologically-important US$ 1.3000 figure. Friday’s disappointing U.S. May non-farm payrolls numbers continue to be priced in the market with many traders scaling back their expectations for additional Federal Open Market Committee monetary tightening. The FOMC convenes at the end of June and again on 8 August to deliberate interest rates. Fed Chairman Bernanke and European Central Bank President Trichet speak at a monetary policy conference later today along with Bank of Japan Deputy Governor Muto. Data released in the U.S. today saw the May non-manufacturing ISM survey fell to 60.1 from 63.0, consistent with expectations. The CFTC’s IMM currency speculation report released on Friday saw long euro positions rise to a record 79,884 contracts in the week to 30 May. In eurozone news, many trading centers were closed for a public holiday and will reopen tomorrow. In comparison to U.S. monetary expectations, the European Central Bank is expected to hike interest rates by at least +25bps on Thursday with some market participants anticipating a +50bps move. In other eurozone news, Germany’s economic “Wise Men” revised their 2006 GDP expectations to a growth rate of 1.5%. Group of Eight central banks and finance officials will meet in St. Petersburg at the end of this week. Euro offers are cited around the US$ 1.3045 level.

¥/ CNY

The yen weakened vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥111.85 level and was supported around the ¥111.40 level. Technically, today’s intraday low was just below the 50% retracement of the move from ¥101.65 to ¥121.40. Data released in Japan overnight saw January – March non-financial firms’ capital investment climb 13.9% y/y. Traders are speculating today that the Japanese government may upwardly revise its January – March GDP estimate after a quarterly government survey showed spending on building factories and upgrading production facilities expanded at its fastest pace in nearly 1 ½ years in the three months to March. April machine orders data will be released on Friday. The Nikkei 225 stock index lost 0.77% to close at ¥15,558.31. Dollar bids are cited around the ¥111.00 figure. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥144.95 level and was supported around the ¥144.20 level. The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥209.85 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥92.90 level. The Chinese yuan appreciated sharply vis-à-vis the U.S. dollar as the greenback closed at CNY 8.0077, down from CNY 8.0230, and at CNY 8.0886 in the exchange-traded market.

The British pound slumped vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.8775 level and was capped around the $1.8880 level. Data released in the U.K. today saw the May CIPS services PMI survey recede to 59.2 from 59.7 in April, below expectations. EEF reported the U.K. manufacturing sector is likely to show good performance in Q2. Bank of England’s Monetary Policy Committee convenes on Thursday and is expected to keep its headline repo rate unchanged at 4.50% for the tenth consecutive month. Cable offers are cited around the US$ 1.8905/ 60 levels. The euro gained ground vis-à-vis the British pound as the single currency tested offers around the ₤0.6885 level and was supported around the ₤0.6855 level.


The Swiss franc moved higher vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2020 level and was capped around the CHF 1.2075 level. Chartists are eyeing the CHF 1.1990 level as the pair’s next downside target. Dollar bids are cited around the CHF 1.2010/ 1.1995 level. The euro and British pound came off vis-à-vis the Swiss franc as the crosses tested bids around the CHF 1.5575 and CHF 2.2595 levels, respectively.


The Australian dollar weakened vis-à-vis the U.S. dollar today as the Aussie tested bids around the US$ 0.7470 level and was capped around the $0.7545 level. Data released in Australia today saw the May performance of services index recede 7.0 points to 49.3 from April’s 56.3 level. Also, Q1 Australian gross company profits were up 0.1% from Q4’s 1.7% increase and May ANZ job ads were off 1.5% m/m and up 18.5% y/y. Australian dollar offers are cited around the US$ 0.7615 level.


The Canadian dollar was little-changed vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 1.0975 level and was capped around the $1.1035 level. The May Ivey PMI survey will be released tomorrow. U.S. dollar offers are cited around the C$ 1.1060/ 1.1100 levels.

The New Zealand dollar appreciated vis-à-vis the U.S. dollar today as the kiwi tested offers around the US$ 0.6340 level and was supported around the $0.6305 level. New Zealand dollar offers are cited around the US$ 0.6375 level.

Gold/ Silver

Gold moved higher vis-à-vis the U.S. dollar today as the yellow metal tested offers around the US$ 645.80 level and was supported around the $637.50 level. The dollar’s pullback and an increase in anti-West rhetoric from Iran contributed to the pair’s gains. Silver moved higher vis-à-vis the U.S. dollar as the pair tested offers around the US$ 12.37 level and was supported around the $12.08 level.

Crude Oil

Crude oil rallied vis-à-vis the U.S. dollar today as light, sweet NYMEX crude for July delivery tested offers around the US$ 73.78 level and was supported around the $72.32 level. The pair moved to multi-week lows after Iran’s Ayatollah Ali Khamenei warned it will withhold oil exports if the U.S. makes a “wrong move.” Iran has so far said it will not suspend uranium enrichments. European Union’s Solana will visit Tehran tomorrow to deliver options to Iran.


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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 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