User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday July 27, 2004 - 21:07:43 GMT -

Share This Story:
| | Email

DailyFX Forex Fundamental Report 07-27-04

DailyFX Forex Fundamental Report 07-27-04

By Kathy Lien, Chief Strategist of

· Dollar Soars On Strong Confidence Report
· German IFO Rises For First Time in 3 Months
· Italian Business Confidence Improves


The market is focused on one thing today, which is confidence and sentiment. In July, we saw the first improvement in 3 months in the current and future outlook of the 7000 companies polled for Germany’s business climate (IFO) survey. The IFO survey increased to a stronger than expected 97.4 from 94.6 in the previous month. The release triggered a 60-pip rally in the euro. Of the four sectors surveyed (manufacturing, construction, wholesale trade and retail trade), sentiment in the manufacturing sector has been solidly in positive territory, while the other sectors have remained in negative territory. The biggest percentage improvement was in wholesale trade, with modest improvements in the retail sector. The willingness of German consumers to spend has been a primary concern for the economy. Today’s IFO report is certainly a move in the right direction and as long as the global recovery continues, consumer consumption in Germany should also increase. In Italy, business confidence also improved for the first time in 3 months from 93.6 to 95 in July as a result of an increase in new orders. However gains in the euro were quickly erased after the US reported its own more impressive confidence report, which rose to the strongest level in 2 years.


After last week’s explosive gains, the dollar resumed its upward course against the majors on the back of an exceptionally robust US consumer confidence report, which improved from an upwardly revised 102.8 to 106.1. An improving labor market and solid home sales has helped to bolster optimism for the fourth consecutive month. The latest rise is a significant improvement since the low of 61.4 made in March 2003. Although there isn’t a clear correlation between confidence and spending, Greenspan’s hawkish testimony last week coupled with today’s indication that the contagion of optimism has also spread to consumers, suggests that the outlook for the US economy remains rosy. Tomorrow, we are going to get more insight into the US economy with the durable goods report and the Fed’s Beige Book. After two months of declines, an increase in defense orders are expected to drive durable goods orders higher in June. The Beige Book report, which is published two Wednesdays before every Federal Reserve Monetary Policy meeting and covers the health of each of the Fed’s regions is expected to show broad based improvements.


The British pound has been unable to escape the bloodbath brought on by the dollar in spite of positive M&A news. On Monday, Banco Santander Central Hispano announced that it plans to acquire Abbey National PLC for GBP8.3Bln. The deal is expected to be a combination of cash and stock, which is positive for the pound and negative for the euro. This would create the world’s tenth largest bank and has already sparked speculation of other possible takeovers of UK banks. Meanwhile mortgage bank lending in the UK increased to a seven year high. Although house prices have recently shown signs of slowing, net lending continues to remain at elevated levels. Tomorrow’s net consumer credit report should provide us with more insight into the high level of consumer indebtedness. We are also expecting the country’s monthly GfK consumer confidence report.


The dollar has surged close to 1% against the Japanese yen today on broad dollar strength. The break above key technical levels in USDJPY distorts the near term outlook for the pair. This evening, we are expecting data from the retail sector. Retail sales are expected to rebound after negative to zero growth in the past four months. Given that the data scheduled for release from Japan this week is expected to be negative, with a forecasted drop in industrial production growth, consumer prices and housing starts, the dollar could register some more near term gains against the yen.


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