User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday August 12, 2004 - 21:11:26 GMT -

Share This Story:
| | Email

US Retail Sales - Another Disappointment

DailyFX Fundamentals 08-12-04

By Kathy Lien, Chief Strategist of

· Weak US Retail Sales
· Stronger German and French GDP
· Oil Continues to Surge to All-Time Highs


Mixed developments in the Eurozone today failed to garner much momentum for the euro. Both Germany and France reported stronger than expected second quarter GDP. The 0.5% q/q growth in Germany came solely as a result of increased demand for German exports. Domestic demand has been weak and was practically unchanged for the second quarter. France grew by 0.8% in the second quarter. Of the major economies in the Eurozone, France has been the best performer. In contrast to Germany, French consumers have been reaching into their pockets and spending. In the month of June, consumer spending increased 4.2%, which is the fastest pace in 7 years. However, none of this data moved the euro. We saw a brief spike up following the weak US retail sales report, but the gains were quickly erased on news of two small terrorist related explosions in Spain. Based upon the price action, it appears that some traders may have already left for the Olympics, which begins tomorrow, in Greece.


Once again, estimates were too high for US retail sales. As we mentioned in yesterday’s Daily Fundamentals, although auto sales were stronger in the month of July, the weekly Redbook sales painted a slightly different picture. Redbook sales fell every week last month, which meant that the rebound should be weak, at best, and it was. Consumers spent more money on cars and furniture in the month of July, but cut spending on clothing for the second month in a row. The weaker consumer spending in June drove inventories up 0.9% (for the same month). The stock-to-sales ratio, which measures how long it takes businesses to deplete inventories increased from 1.30 to 1.31. Optimists are looking to today’s better than expected jobless claims report and more hawkish minutes from the June 30th FOMC meeting to find reason to rally the dollar. According to the minutes, the Fed could adopt a more aggressive tightening policy to combat “emerging inflation pressures” if resource utilization and inflation increases significantly. Although it is important to take note of the Fed’s hawkish bias, recent data gives them no reason to move ahead with this plan. Tomorrow is another busy day in the US – we are expecting PPI, the trade balance and the University of Michigan Consumer Confidence survey.


Although the British pound is still trapped in a range, the dovish inflation report released by the Bank of England on Wednesday has put a bearish bias on the currency. There are no more scheduled economic releases for the week, which means that barring any significant shocks to tomorrow’s US data, the pound should continue to trade within its range. The mixed data that we have been seeing recently is certainly another cause for concern. We have been speculating for some time that the weak data, particularly from the housing market, may be a predecessor to slower growth. Yesterday, the Bank of England forecasted a sharp slowdown in house price inflation and based upon their resources, they are seeing evidence that the housing market may have “peaked.”


According to the Ministry of Finance’s weekly portfolio data for the week ending August 6th, Japanese investors have once again become strong buyers of foreign bonds. Japanese investors bought ¥1.86 trillion worth of foreign bonds, which is the largest one-week accumulation since the government began publishing the data in April 2001. Oil is like a soap opera these days and that is how the oil market is reacting. One day we hear news that more supply is available and the next there are fresh concerns or supply shocks. Only 2 days ago did Iraq announce that they were resuming oil production after halting production temporarily on threats from terrorists. New threats in Iraq today have prompted oil to rally to fresh highs and settling above $45 a barrel. Even Saudi Arabia’s announcement of spare oil has failed to curb gains. The next big risk for the oil market is Sunday’s referendum on the rule of Venezuelan President Chavez. Venezuela is the world’s 5th largest oil exporter and the market fears that the referendum could cause disruptions in production. The global economy and the world’s central bankers are now at the mercy of oil.


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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim 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