User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday June 15, 2006 - 14:49:48 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (15 June 2006)



The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2660 level and was supported around the $1.2580 level. The common currency traded just above the 50% retracement of the move from $1.3665 to $1.1640. Data released in the U.S. today saw May industrial production print at -0.1%, defying expectations of an increase, while weekly jobless claims were off 8,000 to 295,000. Also, the New York Fed’s Empire State manufacturing index rallied to 29.2 from 12.0 while April Treasury International Capital Services saw incoming international portfolio flows fall to US$ 46.7 billion from a revised US$ 70.4 billion. These TICS data are important because it shows the U.S. economy is not importing enough international capital to cover its massive trade deficit. The U.S. requires more than US$ 2 billion per day to finance its current account deficit. More Fed speakers are on the docket today and tomorrow and as the markets are now fully discounting another +25bps move on 29 June by the Federal Open Market Committee, traders are focusing on if – and by how much – the Fed will raise rates later in the year. The Fed’s Beige Book was released yesterday and noted the U.S. economy is showing “some signs of deceleration.” This leaves the Fed with the tricky task of justifying additional rate increases despite a slowing economy. In eurozone news, the European Central Bank reported inflation risks owing to strong money supply growth have become much “clearer” over the past two years. Data released in the eurozone today saw May EMU-12 HICP climb 2.5% y/y, unchanged from provisional estimates and the ECB noted EMU-12 house prices were up 7.6% in 2005, up from 7.2% in 2004. On a core basis, core inflation was up 1.3% y/y in May, down from April’s 1.5% level. Most traders believe the ECB will continue to tighten monetary policy through the course of the year. The ECB today added “…key ECB interest rates are still low by historical standards, liquidity is ample and monetary policy remains accommodative…while the moderate evolution of labour costs in the euro area is expected to continue in 2007...indirect effects of past oil price increases and the announced changes in indirect taxes are expected to have a significant upward effect on inflation.” Euro offers are cited around the US$ 1.2775 level.



¥/ CNY

The yen gained marginal ground vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥114.65 level and was capped around the ¥115.20 level. Technically, today’s intraday high was just above the 61.8% retracement of the move from ¥118.85 to ¥109.00. Bank of Japan Governor Fukui reported the reduction of current account deposits held by BoJ is nearly complete, part of the central bank’s decision to end its long-standing quantitative easing policy on 9 March. Fukui, however, reiterated the conclusion of this reduction has nothing to do with raising interest rates from their near zero per cent level and added any rate hike must correlate with prices and economic data. BoJ’s Policy Board voted to keep rates unchanged overnight and maintained its assessment of the economy, noting the economic recovery is intact. Data released in Japan today saw the April leading index upwardly revised to 54.5 from 50.0 while the April tertiary index was up 1.3% m/m. The Nikkei 225 stock index climbed 1.13% to close at ¥14,470.76. Dollar bids are cited around the ¥113.95 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥145.20 level and was supported around the ¥144.80 level. The British pound and Swiss franc moved higher vis-à-vis the yen as the crosses tested offers around the ¥212.70 and ¥93.50 levels, respectively. The Chinese yuan weakened vis-à-vis the U.S. dollar as the greenback closed at CNY 8.0015 in over-the-counter trade, up from CNY 8.0005, and at CNY 8.0003 in exchange-traded activity. Data released today saw January – May urban fixed-asset investment increase +30.3% while May actual foreign direct investment was off 7.86% y/y. People’s Bank of China’s Zhou today said the central bank may make some “slight” adjustments to macroeconomic policy.



The British pound extended yesterday’s gains vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.8545 level and was supported around the $ 1.8415 level. Technically, today’s intraday high was just above the 76.4% retracement of the move from $2.0035 to $1.3680. Data released in the U.K. today saw May retail sales climb 0.5% m/m, consistent with forecasts, and were up 4.0% y/y. This is the first time since December that retail sales have improved for four consecutive months and is important because retail sales account for about one-third of total household spending. RICS reported U.K. May house prices jumped at their fastest pace in some two years. Cable offers are cited around the $1.8595 level. The euro came off vis-à-vis the British pound as the single currency tested bids around the ₤0.6815 level and was capped around the ₤0.6840 level.

CHF

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2255 level and was capped around the CHR 1.2340 level. Technically, today’s intraday’s low was right around the 38.2% retracement of the move from CHF 1.2015 to CHF 1.2405. As expected, Swiss National Bank tightened monetary policy by +25bps today and will attempt to keep three-month LIBOR in the middle of its 1.00% - 2.00% target rate. This represents the third rate hike in six months and most traders believe the SNB will also raise rates in September and December. SNB Chairman Roth predicted Swiss GDP growth will ease to 1.5% - 2.0% in 2006 and added the SNB “must remain vigilant” against inflation. Dollar bids are cited around the CHF 1.2210 level. The euro and British pound gained ground vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.5545 and CHF 2.2775 levels, respectively.

AUD

The Australian dollar moved higher vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.7405 level and was supported around the US$ 0.7365 level. Data released in Australia today saw final Q1 PPI downwardly revised to 0.7% from 0.8%. Reserve Bank of Australia is expected to release its monthly bulletin today. Australian dollar offers are cited around the US$ 0.7450 level.

CAD

The Canadian dollar lost ground vis-à-vis the U.S. dollar today as the greenback tested offers around the C$ 1.1165 level and was supported around the C$ 1.1120 level. Technically, today’s intraday high was above the 61.8% retracement of the move from C$ 1.1275 to C$ 1.0925 level. U.S. dollar offers are cited around the C$ 1.1190 level.

NZD

The New Zealand dollar was little-changed vis-à-vis the U.S. dollar today as the kiwi tested offers around the US$ 0.6240 level and was supported around the US$ 0.6205 level. New Zealand dollar offers are cited around the US$ 0.6270 level.

Gold/ Silver

Gold continued vis-à-vis the U.S. dollar today as the yellow metal tested offers around the US$ 576.40 level and was supported around the $554.55 level. Technical buying was cited earlier in the day and the U.S. dollar’s move lower also contributed to gold’s move higher, as did strong eurozone inflation data. Silver moved higher vis-à-vis the U.S. dollar as the pair tested offers around the $10.24 level and was supported around the $9.51 level.

Crude Oil

Crude oil gained ground vis-à-vis the U.S. dollar today as light, sweet NYMEX crude futures for July delivery tested offers around the US$ 70.02 level and was supported around the US$ 69.23 level. Traders expect strong demand from U.S. consumers this summer during the holiday period, about one-quarter of Nigeria’s output production is stopped on account of Nigerian militants, and Iran has yet to formally respond to the West’s proposal regarding suspension of Iranian nuclear ambitions.

 

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 18 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

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.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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