User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday October 30, 2006 - 16:09:13 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (30 October 2006)



The euro came off vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2700 figure and was capped around the $1.2735 level. Technically, today’s intraday low was right around the 50% retracement of the move from $1.2460 to $1.2940. Today’s range was thin as traders held their fire ahead of a busy two days of market events in the U.S. and eurozone. Data released in the U.S. today saw the September personal consumption expenditures price index decline 0.3%, the first decline since November 2005, whole the core PCE index was up 0.2%, down from August’s 0.3% reading. Notably, core inflation has risen 2.4% over the past twelve months, lower than August’s 2.5% gain but well above the Federal Reserve’s perceived comfort zone. These continued high readings of the core PCE index are why the Fed continues to retain a tightening bias on the monetary policy front. Other data released in the U.S. today saw consumer spending rise 0.1% in September, down from August’s 0.2% rise. Richmond Fed President Lacker – who continues to vote for higher rates on the Federal Open Market Committee – and Chicago Fed President Moskow speak later in the day. In eurozone news, traders await the European Central Bank’s interest rate decision on Thursday. Most traders expect the ECB to keep rates unchanged but will be interested to hear from ECB President Trichet as most policymakers expect an ECB move higher on rates in December. German wholesale sales were up 0.2% m/m and 1.1% y/y in September. The euro did not show much reaction to news that the central bank of the United Arab Emirates may diversify its foreign exchange reserves further in favour of the common currency. Euro bids are cited around the US$ 1.2640/ 1.2570 levels.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥117.20 level and was capped around the ¥117.60 level. Technically, today’s intraday low was right around the 23.6% retracement of the move from ¥108.95 to ¥118.95. Data released in Japan today saw September industrial output decline 0.7% m/m, down from August’s +1.8% m/m climb, and was up 5.1% y/y. Traders await Bank of Japan’s semi-annual outlook on the economy and prices tomorrow along with comments from BoJ Governor Fukui. Short yen positions in the Commitment of Traders report for the week ending 24 October were a record 137,290 contracts. The Nikkei 225 stock index lost 1.90% to close at ¥16,351.85. Dollar bids are cited around the ¥116.75/ 115.70 levels. The euro weakened vis-à-vis the yen as the single currency tested bids around the ¥149.10 level and was capped around the ¥149.65 level. The British pound moved higher vis-à-vis the yen as the cross tested offers around the ¥223.40 level while the Swiss franc moved lower vis-à-vis the yen as the pair tested bids around the ¥93.85 level. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.8738 in the over-the-counter market, down from CNY 7.8896, and at CNY 7.8734 in the exchange-traded market. The Chinese government reiterated China’s 2006 trade surplus is likely to reach US$ 150 billion and added China’s economy is likely to expand by more than 10% this year.



The British pound escalated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.9040 level and was supported around the $1.8955 level. Stops were reached above the $1.8995 level today, representing the 76.4% retracement of the move from $1.9145 to $1.8515. Data released in the U.K. today saw September mortgage approvals reach their highest level since February 2004, according to Bank of England. Also, the September M4 money supply was up 14.5% y/y, the highest measure in sixteen years and these data precipitated some additional concern about inflation. Most traders continue to expect BoE’s Monetary Policy Committee will lift interest rates next month. Cable offers are cited around the US$ 1.9090/ 1.9140 levels. The euro came off vis-à-vis the British pound as the single currency tested bids around the ₤0.6680 level and was capped around the ₤0.6715 level.

CHF

The Swiss franc weakened vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2505 level and was supported around the CHF 1.2470 level. Technically, today’s intraday low was right around the 50% retracement of the move from CHF 1.2180 to CHF 1.2770. Swiss National Bank governing board member Hildebrand was quoted as saying investors should “not believe that the exchange rate situation will continue to always be as stable” and added “fundamentals for the Swiss franc are very good.” U.S. dollar offers are cited around the CHF 1.2545/ 1.2630 levels. The euro came off vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5880 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 2.3780 level.

AUD

The Australian dollar gained marginal ground vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.7700 figure and was supported around the $0.7675 level. Australian dollar bids are cited around the US$ 0.7610 level.
CAD

The Canadian dollar weakened vis-à-vis the U.S. dollar today as the greenback tested offers around the C$ 1.1235 level and was supported around the C$ 1.1175 level. Data released in Canada today saw September raw materials and manufactured goods prices down 5.2% and 1.6%, respectively. U.S. dollar offers are cited around the C$ 1.1355 level.

NZD

The New Zealand dollar appreciated vis-à-vis the U.S. dollar today as the kiwi tested offers around the US$ 0.6645 level and was supported around the $0.6605 level. New Zealand dollar offers are cited around the US$ 0.6685 level.

Gold/ Silver

Gold made a strong move higher vis-à-vis the U.S. dollar today as the yellow metal tested offers around the US$ 610.40 level and was supported around the $598.85 level. The weaker-than-expected U.S. GDP data released on Friday and today’s stronger-than-expected U.S. core PCE data contributed to gold’s rise. Silver moved higher vis-à-vis the U.S. dollar as the pair tested offers around the US$ 12.24 level and was supported around the $12.04 level.

Crude Oil

Crude oil came off vis-à-vis the U.S. dollar today as light, sweet NYMEX crude oil futures for December delivery tested bids around the US$ 58.85 level and was capped around the $61.02 level. Anticipated cold weather in the U.S. at the end of the week may give the market some support while doubts that all OPEC members will curtail production in line with OPEC’s recent statement have added some selling pressure.

 

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 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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