User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday July 26, 2004 - 21:38:42 GMT -

Share This Story:
| | Email

Majors Rebound Against Dollar

• Dollar Loses Ground Against Majors
• Fed Gov. Hoenig Reiterates Last Week’s Comments
• Yen Slacks With Contracting Department Store Sales

The euro recovered against the dollar after hitting last week’s July low at 1.2086 in the middle of the trading week. The EURUSD pair took support after approaching the bottom point of the dollar rally and rebounded to an intra day high at 1.2173. The euro traded slightly lower down to 1.2150 by the end of the US session. Focus on economic data remained on the sidelines today while the May Euro-zone Current Account was released lower than expected at 3.2bn euros versus estimates of 4.0 billion. The smaller than forecasted growth from April’s 0.4 billion balance was partly anticipated after last Thursday’s release of a narrower than expected trade surplus. In May, exports within the Euro-12 nations declined by a seasonally adjusted 1.8% while imports rose by 2.3%. Without the seasonal adjustments, exports put on sizeable growth of 3.7% with summer demand. However, more substantial economic data will be released tomorrow with the German IFO Industrial Survey, giving an outlook into July’s business confidence.

The dollar gave back last week’s gains against most major currencies amid a day that was given over to technical trading. Economic releases remained a minimum today with only the June Existing Home Sales coming in higher than expected at 6.95 million annualized. For a second straight month, existing home sales made a new record high with last month’s revised at 6.81 million. Though the pace of growth is not sustainable, it does reflect an improving employment situation given relatively low mortgage rates. In addition, Kansas City Fed Governor Thomas Hoenig made a speech today, further reiterating the points made by Greenspan and Chicago Fed Gov. Moskow last week. Interest rates still remain “highly accommodative” with inflation, given the current environment, “a relatively manageable risk.” Hoenig also expects US GDP to expand by 4-4.5% in 2004. With the upcoming FOMC meeting on August 10th, a 25bp rate increase is expected by economists. The neutral rate, a point where interest rates will neither stimulate nor constrain economic growth, is estimated within the 3 to 4.5% range. Tomorrow’s economic calendar will be of more likely to move the market with the US July Consumer Confidence report expected at 14:00 GMT.

Shaking off the latest soft data on UK housing market, sterling bounced back against the dollar today after a week of severe losses. The Hometrack survey reported a 0.1 per cent month-on-month drop in property prices in July. However, that data point did little to shake traders' belief that Bank of England will stay on course and raise rates at the upcoming Monetary Policy Committee meeting in August. The sterling proceeded through the day with a steady climb against the dollar from 1.8306 to 1.8427. Clinging to its high, the pair traded around 1.8410 by 20:00GMT. The beginning of the week will remain quiet for the UK side until Wednesday when BoE’s executive director Paul Tucker will be making a speech, followed by the July GFK Consumer Confidence report released on Thursday.

The dollar initially declined against the yen during Monday Asian trading as Japanese exporters took advantage of the greenback's Friday rally to lock in profits. Short-term speculators and dealers defending options-related positions against the yen also joined in the dollar-selling. The momentum faded after a report showed that nationwide department store sales declined faster at 5.7% over past year, after the previous year’s 2.7% contraction. The contraction was led by clothing sales which fell by 10.3% and an 8.0% decline in household goods. Tomorrow will prove even more important as preliminary Japanese Retail Trade and Larger Retailers’ Sales will be released for the month of June. The retail situation is not seen to be improving as larger retailers are expected to further lose sales by -4.5%, while overall retail trade growth is forecasted to remain stagnant after May’s contraction. The dollar traded over the 110 level against the yen again today, and proceeded to 110.08. By the end of the US trading day, the pair leveled down to 109.95.


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