User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday September 14, 2006 - 15:50:25 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (14 September 2006)



The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2735 level and was supported around the $1.2675 level. The common currency has been stuck in a $1.2650-1.2740 range for about a week and traders await market-moving news. Data released in the U.S. today saw August retail sales climb a mere +0.2% m/m, down from July’s +1.4% pace. Other data released today saw weekly initial jobless claims off 5,000 to 308,000, a seven-week low. Traders await the release of August consumer price inflation data tomorrow to see if it yields any possible clues about the Fed’s policymaking. Most traders expect the Federal Open Market Committee to keep rates unchanged when it convenes this month. In eurozone news, European Central Bank President Trichet reiterated that “strong vigilance” is needed to ensure that upside risks to price stability are maintained. Most dealers believe the ECB will lift interest rates next month and again in December. Regarding second-round inflation effects, Trichet reported “the risk of increases in wages and salaries that would derive from a loss of credibility regarding our capability in countering price increases. It is essential to intervene before these effects materialize.” Data released in the eurozone today saw Q2 labour costs climb 2.4% y/y, up from Q1’s 2.2% y/y pace. Also, Q2 employment was up 0.4% q/q and 1.2% y/y. Euro bids are cited around the US$ 1.2650/ 1.2560 levels.

¥/ CNY

The yen moved higher vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥117.35 level and was capped around the ¥117.75 level. Chartists are eyeing the ¥117.15 level as the pair’s next downside target. Traders continue to buy yen on the story that this weekend’s Group of Seven communiqué is unlikely to include any mention of the yen’s weakness. Officials, however, may spotlight the need for Asian currency flexibility and since the yen as seen as a close proxy for the yuan, there could be upside potential for the yen. The IMF released a forecast today that sees Japanese GDP growth around 2.7% in 2006 with domestic demand strong. Data released in Japan today saw August corporate failures up 3.8% m/m. The Nikkei 225 stock index gained 1.22% to close at ¥15,942.30. Dollar bids are cited around the ¥116.85 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥149.65 level and was supported around the ¥149.05 level. The British pound and Swiss franc gained ground vis-à-vis the yen as the crosses tested offers around the ¥222.10 and ¥94.50 levels, respectively. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.9460 in the over-the-counter market, down from CNY 7.9486, and at CNY 7.9455 in the exchange-traded market. Fitch raised China’s long-term foreign and local currency rating outlook to positive from stable. Data released in China saw August wholesale prices up 2.9% y/y while the M2 money supply was up 17.9% y/y at the end of August. U.S. Treasury Secretary Paulson warned that the Bush administration will oppose protectionist measures in Congress to punish the China for its massive trade surplus. Paulson heads to China for talks with Chinese officials.



The British pound moved sharply higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.8920 level and was supported around the $1.8755 level. Stops were reached above the $1.8845 level, representing the 50% retracement of the move from $1.9090 to $1.8600. Data released in the U.K. today saw August retail sales climb +0.3% m/m, lower than expectations for a +0.4% m/m climb but still positive in light of the fact Bank of England raised interest rates last month. RICS housing data today confirmed that U.K. home-buyers also ignored last month’s rate hike and bid U.K. house prices to their highest level since May 2004. Cable bids are cited around the US$ 1.8790 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the ₤0.6735 level and was capped around the ₤0.6765 level.

CHF

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2435 level and was capped around the CHF 1.2525 level. Technically, today’s intraday high was right around the 38.2% retracement of the move from CHF 1.1285 to CHF 1.3285. As expected, Swiss National Bank raised interest rates by +25bps with the three-month Libor range now at 1.25% to 2.25%. SNB will target the middle of that range, or 1.75%. This represents SNB’s third consecutive monetary tightening and the central bank also lifted its 2006 GDP forecast to just below 3% from just above 2.5% previously. SNB also sees inflation about 1.3% this year, up from its previous forecast of 1.2%. Separately, SNB directorate member Hildebrand reported the SNB expects a deceleration of the economy next year. Dollar offers are cited around the CHF 1.2520/ 1.2685 levels. The euro and British pound gained ground vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.5910 and CHF 2.3610 levels, respectively.

AUD

The Australian dollar moved higher vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.7565 level and was supported around the $0.7510 level. Technically, today’s intraday low was just above the 50% retracement of the move from $0.7985 to $0.7015. Australian dollar bids are cited around the US$ 0.7385 level.

CAD

The Canadian dollar appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 1.1115 level and was capped around the C$ 1.1200 figure. Data released in Canada today saw manufacturing shipments rise 0.8% m/m in July to their highest level this year. U.S. dollar offers are cited around the C$ 1.1245 level.

NZD

The New Zealand dollar gained significant ground vis-à-vis the U.S. dollar today as the kiwi tested offers around the US$ 0.6650 level and was supported around the $0.6460 level. The pair has not been this strong since early March of this year. Reserve Bank of New Zealand left interest rates on hold as expected but Governor Bollard was more hawkish than expected in his comments. New Zealand dollar offers are cited around the US$ 0.6685 level.

Gold/ Silver

Gold came off vis-à-vis the U.S. dollar today as the yellow metal tested bids around the US$ 584.20 level and was capped around the $ 595.55 level. Silver weakened vis-à-vis the U.S. dollar as the pair tested bids around the US$ 11.01 level and was capped around the $11.41 level.

Crude Oil

Crude oil extended recent losses vis-à-vis the U.S. dollar today as light, sweet NYMEX crude oil futures for October delivery tested bids around the US$ 63.50 level and was capped around the $64.65 level. The U.S. continues to push for immediate sanctions against Iran via the United Nations. Nigerian oil shipments continued overnight after a brief strike and U.S. inventories data released yesterday evidenced healthy energy stockpiles.

 

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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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