User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday June 9, 2006 - 13:41:27 GMT
GCI Financial -

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (9 June 2006)

The euro extended recent losses vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2595 level and was capped around the $1.2670 level. Chartists are eyeing the $1.2555 level as the pair’s next downside target. Traders continue to reduce long euro exposure as Federal Reserve officials make it clear the Federal Open Market Committee is leaning towards raising rates at the end of the month. Fed Governor Kohn testified yesterday that he has “found recent inflation data somewhat troubling…that raises a warning flag that something might be in train.” The fed funds futures market is now discounting about an 80% chance the federal funds target rate will be lifted by +25bps to 5.25% on 29 June. Kohn is the Bush administration’s nominee to become the new Vice Chairman of the Fed and it’s apparent that both he and Chairman Bernanke are on the same page regarding inflation. Bernanke will issue a commencement address later today. Data released in the U.S. today saw the April trade deficit print at –US$ 63.4 billion, less-than-expected but up from a revised –US$ 61.9 billion. Also, the May import price index came in a little hotter-than-expected at +1.6%. Next week’s April Treasury International Capital inflows data will be closely watched to see if the U.S. covered its trade deficit two months ago with portfolio inflows. Traders are also carefully watching the Group of Eight summit in St. Petersburg this weekend to see if finance ministers address currency or trade imbalances. In eurozone news, dealers continue to sell the euro following European Central Bank President Trichet’s comments yesterday after the ECB decided to lift interest rates by +25bps. Trichet stopped short of using the word “vigilant” to describe the central bank’s focus on inflation. ECB’s Papademos said he sees growth remaining strong while ECB’s Tumpell-Gugerell said she does not expect a slowdown in growth. ECB’s Gonzalez-Paramo said the ECB considers the euro’s value in its interest rate decisions while ECB’s Weber noted “It is important as a matter of principle that there is no subordination of monetary policy to exchange rate considerations.” The ECB yesterday reduced its 2007 EMU-12 growth forecast to 1.8% from 2.0% but kept its 2006 forecast intact at 2.1%. Euro offers are cited around the US$ 1.2775 level.

¥/ CNY

The yen appreciated marginally vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥113.70 level and was capped around the ¥114.30 level. The Nikkei reported the Japanese government’s June economic report will emphasize deflation is receding. In contrast, Bank of Japan policymakers maintain deflation is still a threat to the economy and as a result, they are in no hurry to lift interest rates from their near zero per cent level. Data released in Japan today saw April machinery orders rise 10.8% m/m. The Nikkei 225 stock index climbed 0.81% to close at ¥14,750.84. Dollar bids are cited around the ¥113.35 level. The euro weakened vis-à-vis the yen as the single currency tested bids around the ¥143.85 level and was capped around the ¥144.55 level. The British pound and Swiss franc spun lower vis-à-vis the yen as the crosses tested bids around the ¥209.65 and ¥92.25 levels, respectively. The Chinese yuan depreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 8.0112 in over-the-counter trade, up from CNY 8.0089, and at CNY 8.0115. Data released in China today saw May PPI up 2.4% y/y while the broad M2 money supply increased 19.5% y/y as of the end of May.

The British pound lost marginal ground vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.8365 level and was capped around the US$ 1.8455 level. Data released in the U.K. today saw the April trade in goods deficit print at -₤5.8 billion, worse-than-expected. NIESR reported the U.K. economy likely expanded at 0.6% in the three months to May. Cable offers are cited around the US$ 1.8525 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ₤0.6855 level and was capped around the ₤0.6875 level.


The Swiss franc was mostly unchanged vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2285 level and was capped around the CHF 1.2365 level. U.S. dollar bids are cited around the CHF 1.2230 level. The euro and British pound slumped vis-à-vis the Swiss franc as the crosses tested bids around the CHF 1.5560 and CHF 2.2650 levels, respectively.


The Australian dollar gained ground vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.7495 level and was supported around the $0.7410 level. Australian dollar offers are cited around the US$ 0.7545 level.


The Canadian dollar moved sharply higher vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 1.1070 level after testing offers around the C$ 1.1230 level. Data released in Canada today saw the May unemployment rate fell 0.3% to 6.1%, its lowest level since December 1974. U.S. dollar offers are cited around the C$ 1.1190 level.


The New Zealand dollar climbed higher vis-à-vis the U.S. dollar today as the kiwi tested offers around the US$ 0.6335 level and was supported around the $0.6250 level. New Zealand dollar offers are cited around the $0.6375 level.

Gold/ Silver

Gold appreciated vis-à-vis the U.S. dollar today as the yellow metal tested offers around the US$ 616.10 level and was supported around the $604.35 level. Inflation jitters continue to keep the pair relatively bid. Silver moved higher vis-à-vis the U.S. dollar as the pair tested offers around the US$ 11.51 level and was supported around the $11.11 level.

Crude Oil

Crude oil appreciated vis-à-vis the U.S. dollar today as light, sweet NYMEX crude futures for July delivery tested offers around the US$ 71.01 level and was supported around the $69.96 level. The markets are doubting that the death of terrorist al-Zarqawi in Iraq will lead to significant stability in that country. Also, an IAEA report that Iran continues to enrich uranium despite a diplomatic offer from the West involving a suspension of said efforts has kept crude bid.


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