User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 19, 2006 - 14:51:22 GMT
GCI Financial -

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (19 September 2006)

The euro came off marginally vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2650 level and was capped around the $1.2725 level. Technically, today’s intraday low was right around the 50% retracement of the move from $1.3665 to $1.1640. Data released in the U.S. today saw August wholesale prices moderate and print up +0.1% m/m with core inflation off 0.4% following July’s -0.3% decline. The decline in gasoline prices saw producer prices pull back and this represented the first consecutive monthly declines in core inflation in more than three years. Other data released today saw housing starts fall a more-than-expected 6% to an annual pace of 1.665 million units. These latest housing data suggest the Fed’s continued rate hikes this year may be having a larger impact on the U.S. housing market than previously believed. The Federal Open Market Committee meets tomorrow to deliberate U.S. interest rates and while no change in rates is expected, many traders would not be surprised if the Fed takes the federal funds rate higher. In eurozone news, the German ZEW investor confidence survey fell sharplythis month to -22.2, its weakest print in some eight years. European Central Bank officials spoke today with Quaden reiterating they will remain vigilant on inflation and Liikanen reported the central bank must remain vigilant on inflation and act when necessary. ECB’s Tumpel-Gugerell yesterday said she expects a “normalization” of EMU-12 growth in Q3. An unnamed eurozone official was also quoted yesterday as saying interest rates could reach 4% in 2007 if growth remains strong. Euro bids are cited around the US$ 1.2560 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥117.05 level and was capped around the ¥118.10 level. Stops were hit below the ¥117.25 level, representing the 23.6% retracement of the move from ¥113.95 to ¥118.30. The yen gained ground after a European monetary official indicated the markets need time to understand the signal from the Group of Seven this weekend that a stronger yen is desirable in relation to the euro. Most traders note the G7 did not explicitly mention this. Senior Japanese finance ministry official Akaba talked down interest rates today saying he doesn’t see “much inflationary concern on the horizon so an immediate rise in interest rates is not the right way as I see it.” Data released in the eurozone today saw August department store sales fall 0.9% y/y while land prices in Japan’s three largest cities rose for the first time in sixteen years. The Nikkei 225 stock index climbed 0.05% to close at ¥15,874.28. Dollar bids are cited around the ¥116.65/ 15 levels. The euro came off vis-à-vis the yen as the single currency tested bids around the ¥148.60 level and was capped around the ¥150.25 level. The British pound and Swiss franc depreciated vis-à-vis the yen as the crosses tested bids around the ¥220.80 and ¥93.45 levels, respectively. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.9363 in the over-the-counter market, down from CNY 7.9468, and at CNY 7.9348 in the exchange-traded market, an all-time high. U.S. Treasury Secretary Paulson arrived in China today and will meet with senior Chinese officials this week to discuss that country’s massive trade surplus with the U.S. that reached US$ 202 billion in 2005. Some U.S. officials are pressing China to liberalize its foreign exchange regime faster than it is currently doing. Paulson is unlikely to overtly pressure the Chinese but will make it known that China is making the right moves as far as liberalization of its FX regime is concerned. People’s Bank of China Governor Zhou talked today and reiterated China’s economy growth remains strong and policies designed to boost domestic consumption “has produced positive effects.” Zhou also indicated “inflation is moderating.”

The British pound jumped higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.8885 level and was supported around the $1.8775 level. Stops were hit above the $1.8445 level, representing the 50% retracement of the move from $1.9090 to $1.8600. Bank of England Monetary Policy Committee member Barker was quoted as saying “House prices are rising faster than earnings, and I have to say that's a surprise. In the very long run, it is difficult to think of house price growth being perpetually above earnings, unless there's something else going on, like a constraint on supply. We've got growth at, or slightly above (the long-term average). This doesn't seem like a situation where what you're most worried about is growth falling away. So the risk that inflation in the autumn would have a more significant effect on wage setting was what lay behind the August rate rise.” Sterling jumped on the premise that MPC officials may decide to lift borrowing costs further this year. Cable bids are cited around the US$ 1.8790 level. The euro fell vis-à-vis the British pound as the single currency tested bids around the ₤0.6725 level and was capped around the ₤0.6760 level.


The Swiss franc moved marginally higher vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2480 level and was capped around the CHF 1.2570 level. Chartists are eyeing the CHF 1.2470/ 25 levels as the pair’s next downside targets. August trade balance data will be released on Thursday. Dollar offers are cited around the CHF 1.2685 level. The euro came off marginally vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5875 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 2.3635 level.


The Australian dollar gained marginal ground vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.7560 level and was supported around the CHF 1.2480 level. Technically, today’s intraday low was right around the 38.2% retracement of the move from US$ 0.6770 to $0.7985. Australian dollar bids are cited around the $0.7500 figure.


The Canadian dollar depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the C$ 1.1230 level and was supported around the C$ 1.1170 level. Data released in Canada today saw August consumer prices rise 2.1% y/y, down from July’s 2.4% rise. This moderation in inflationary pressures will reduce expectations for additional Bank of Canada monetary tightening in 2006. U.S. dollar offers are cited around the C$ 1.2685 level.


The New Zealand dollar fell marginally vis-à-vis the U.S. dollar today as the kiwi tested bids around the US$ 0.6595 level and was capped around the $0.6645 level. New Zealand dollar offers are cited around the US$ 0.6685 level.

Gold/ Silver

Gold depreciated vis-à-vis the U.S. dollar today as the yellow metal tested bids around the US$ 579.95 level and was capped around the $589.25 level. Gold traders await tomorrow’s FOMC interest rate decision. Silver slumped vis-à-vis the U.S. dollar as the pair tested bids around the $10.88 level and was capped around the $11.22 level.

Crude Oil

Crude oil jumped vis-à-vis the U.S. dollar today as light, sweet NYMEX crude oil futures for November delivery tested offers around the US$ 65.04 level and was supported around the $64.21 level. Prices were pushed higher after British Petroleum announced production at its large Thunder Horse oilfield in the Gulf of Mexico will be pushed back until 2008. Traders are also paying close attention to speeches from the U.S.’s and Iran’s presidents at the United Nations today.


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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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