User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday June 12, 2006 - 20:51:31 GMT

Share This Story:
| | Email

FXCM - German ZEW Survey May Not be That Bad

DailyFX Fundamentals 06-12-06

By Kathy Lien, Chief Strategist of

• Bernanke's Credibility is Put to Test With Retail Sales and PPI
• German ZEW Survey May Not be That Bad
• Yen Slides After Surprising Dip in Consumer Confidence

US Dollar
The foreign exchange market has been extremely quiet today with most currency pairs aside from the Canadian dollar calmly consolidating. The next few days will be very busy as traders prepare themselves for a long list of key economic data scheduled for release from all of the major countries around the world as well as a number of Fed speeches. Bernanke’s credibility has really come to question over the past few days and will be tested even more so this week. Financial editors of the press have had a blast touting his keen ability to confuse the markets which comes in clear contrast to the transparency, clarity and simplicity that he initially promised when he became Federal Reserve Chairman. He is slated to speak this evening and then once again in the morning and in all likelihood, he will stick to the script on Bank Supervision because he knows that if he fails to affirm his newly hawkish stance, all credibility would probably be lost. Given earlier signs of slower growth, this week’s data, starting with tomorrow’s retail sales report could potentially surprise to the downside. If retail sales do come out extremely weak, the market will wonder whether Bernanke is playing with fire, risking a global slowdown to combat inflation. Of the other Fed officials that spoke today, they either refrained from mentioning monetary policy or simply repeated their concerns with inflation. Whether inflation is really prevalent will also be proved this week as we first see the producer price index tomorrow morning and then the consumer price index on Wednesday. These will be watched even more closely than they usually are because if neither confirms the strong inflation concerns of the Fed, Bernanke’s credibility will be in question once again, which would be negative for the US dollar. The only piece of economic data that was released today was the US’ monthly budget statement, which reported a larger deficit of -$42.8 billion compared to a -$35.4 billion forecast. Structural problems have been plaguing the US economy for years and based upon the latest figures, it is far from being resolved. Meanwhile the hurricane season begins with warnings that the season’s first Tropical Storm Alberto could be named a hurricane. With oil prices still hovering above $70 a barrel, if any hurricanes this summer hit the US oil and gas heartland along the Gulf Coast, we could easily see another record high in crude, which could pose another risk to the sustainability of consumer spending. If the US consumer goes, so does the US dollar. However as long as the US consumer holds on, the Fed will be able to as well, which would validate and exacerbate the greenback’s recent climb – so keep an eye on weather patterns as well as retail sales.

The Euro has now seen its longest stretch of weakness against the US dollar since November. Of the little economic data released this morning, neither was particularly market moving. German wholesale prices increased a more than expected 0.7 percent in the month of May while Italian industrial production fell by a more than expected 1.0 percent. The real market movers will start to be released tomorrow beginning with the German consumer price index and the ZEW survey of economic sentiment. Although the strong value of the Euro throughout the month of May and into early June poses a big risk to how analysts perceive the future health of the German and Eurozone economies, it is important to note that the survey was closed today, indicating that many analysts could have made revisions to their forecast while some could have waited to submit it until the last minute, which would have given them the opportunity to account for the deep 400 pip slide that we have recently seen in the Euro. If this is the case, then the ZEW survey could actually not be as bad as the market’s current predictions. Ultimately however, the ECB raised interest rates last week and is at no urgency to do so again which means that the primary focus and catalyst for market volatility will be the Federal Reserve and US data, at least for the next two or three weeks.

British Pound
After five consecutive trading sessions of weakness against the US dollar, the British pound has finally seen a green day, albeit a mild one as the currency rallies against both the dollar and the Euro. A lot of the British pound’s pessimism against the Euro was built up in anticipation of a strongly aggressive European Central bank, to the degree that it would come in stark contrast to the Bank of England’s solidly neutral stance. However, the ECB was not as hawkish as the market had hoped last week, which forced Euro bulls to reconsider their positioning. Producer prices came out weaker than expected in the month of May, with import prices falling by 0.5 percent while output prices rose by 0.3 percent. Even though producers are passing on more costs, inflation is not an immediate concern for the central bank. Instead, the pound is taking a bit of comfort in the fact that house prices accelerated by a faster pace in the month of April according to the Office of the Deputy Prime Minister. Although encouraging, it has little impact on changing the minds of the country’s policy makers.

Japanese Yen
The Japanese Yen is weaker against most of the majors today as consumer confidence took a surprisingly tumble from 50.2 to 49.9 in the month of May. Even though this is slightly below the 50 pessimism / optimism mark, the index still remains near a 15 year high. Other data was more encouraging with first quarter GDP revised to the upside from an annualized pace of 1.9 percent to a whopping 3.1 percent. Corporate goods prices were also stronger, rising by 3.3 percent, compared to a forecast of 2.8 percent. With economic growth solid and inflation increasing, the landscape continues to provide a more conducive environment for an interest rate hike. However any positive news will do little than give the Yen a short term boost since the Bank of Japan is in no rush to raise interest rates. The central bank’s monetary policy decision is June 15th, although Governor Fukui’s comments will receive some attention, the actual interest rate decision will probably not.


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