User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday February 27, 2007 - 15:18:32 GMT
GCI Financial -

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (27 February 2007)

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3230 level and was supported around the $1.3160 level. Technically, today’s intraday low was right around the 23.6% retracement of the move from $1.2480 to $1.3365. Hawkish comments from Eurogroup chairman Juncker about the need to remain vigilant on inflation kept the pair bid. Most traders believe the European Central Bank will tighten monetary policy on 8 March by +25bps and comments from ECB President Trichet later that day will be closely watched for any indication the ECB could move again this year. ECB’s Quaden reiterated the central bank’s “strong posture of continued vigilance” making a move higher next week a foregone conclusion. Data released in the eurozone today saw German January import prices off 0.7% m/m and up 0.7% y/y while French January housing starts were off 7.3% y/y. Additionally, the EMU-13 January M3 money supply expanded at an annual rate of 9.8%, unchanged from December’s level and stronger-than-expected. Traders will also pay attention to next month’s pay negotiations involving Germany’s powerful IG Metall union that is expected to seek an increase of 6.5% in wages. In U.S. news, January durable goods orders data were released today and they were off a weaker-than-expected 7.8% while the ex-transportation component was off 3.1%. Also, January existing home sales were up +3.0% to 6.46 million units and February consumer confidence improved to 112.5.
Traders are still talking about comments made yesterday by former Federal Reserve Chairman who said there is an increasing probability the U.S. economy is headed for a recession later in the year. Euro bids are cited around the US$ 1.3155 level.

¥/ CNY

The yen appreciated sharply vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥119.25 level and was capped around the ¥120.75. Heightened geopolitical and financial markets volatility saw some short yen carry trades unwound, pushing the pair to its lowest level since 19 February. International Monetary Fund Managing Director Rato said he is “concerned that investors and the countries into which funds are flowing are not sufficiently attentive to the risks.” Retail trade and industrial production data will be released tonight followed by consumer price inflation data later in the week. If consumer price inflation prints stronger-than-expected, the yen could appreciate further on the premise that Bank of Japan’s Policy Board may raise interest rates again this year, further eroding the attraction of the short yen carry trade. More than US$ 100 billion in yen carry trades are said to be on traders’ books and a sharp move lower is more than possible. The Nikkei 225 stock index lost 0.52% to close at ¥18,119.82. Dollar bids are cited around the ¥118.60 level. The euro came off vis-à-vis the yen as the single currency tested bids around the ¥157.60 level and was capped around the ¥159.25 level. The British pound and Swiss franc weakened vis-à-vis the yen as the crosses tested bids around the ¥234.25 level and ¥97.40 levels, respectively. The Chinese yuan appreciated sharply vis-à-vis the U.S. dollar today as the greenback closed at CNY 7.7415 in the over-the-counter market, down from CNY 7.7535. Today’s close represents the pair’s weakest showing since the yuan revaluation of July 2005. Notably, China’s main stock index shed some 9% overnight, its largest loss in about a decade. People’s Bank of China Governor Zhou talked about the yuan today saying “If the trade surplus expands then the pace of yuan appreciation may be faster…we are gradually moving to let market demand and supply play a bigger role in setting the exchange rate, which means we are increasing exchange rate flexibility." He added “If inflationary pressure increases the central bank should consider monetary policy action, including interest rate policy. The central bank must take action to curb inflation and maintain a stable yuan. This is our responsibility.”

The British pound moved marginally higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.9670 level and was supported around the $1.9590 level. Technically, today’s intraday high was right around the 38.2% retracement of the move from $1.9260 to $1.9915 while today’s intraday low was just above the 50% retracement of the same range. BBA reported January mortgage levels fell to 134,200 from 140,000 one year ago while the total value of approvals rose to ₤13.1 billion. These data confirm the U.K. housing sector remains relatively robust despite higher borrowing costs in the U.K. Bank of England Monetary Policy Committee member Blanchflower today said he believes U.K. inflation will fall “pretty sharply” this year. Cable bids are cited around the US$ 1.9535 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.6735 level and was supported around the ₤0.6710 level.


The Swiss franc extended recent gains vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2225 level and was capped around the CHF 1.2305 level. Technically, today’s intraday low was just above the 38.2% retracement of the move from CHF 1.2770 to CHF 1.1875. Data released in Switzerland today saw the UBS January private consumption indicator improve to 1.95 index points from 1.89 in December. The pair lost ground after a reported assassination attempt against U.S. Vice President Cheney in Afghanistan failed. Dollar offers are cited around the CHF 1.1655/ 90 levels. The euro and British pound came off vis-à-vis the Swiss franc as the crosses tested bids around the CHF 1.6165 and CHF 2.4010 levels, respectively.


The Australian dollar weakened marginally vis-à-vis the U.S. dollar today as the Aussie tested bids around the US$ 0.7910 level and was capped around the $0.7945 level. Technically, today’s intraday low was right around the 76.4% retracement of the move from $0.7980 to $0.7695. Traders await Australian data this week including Q4 GDP and private sector credit growth. Australian dollar bids are cited around the US$ 0.7870 level.


The Canadian dollar was little-changed vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 1.1585 level and was capped around the C$ 1.1620 level. Technically, today’s intraday low was right around the 38.2% retracement of the move C$ 1.2730 to C$ 1.0930. Q4 GDP data will be released on Friday. U.S. dollar offers are cited around the C$ 1.1655 level.

Gold/ Silver

Gold fell sharply vis-à-vis the U.S. dollar today as the yellow metal tested bids around the US$ 677.70 level and was capped around the $687.40 level. The pair tracked crude oil lower and shrugged off the U.S. dollar’s intraday sell-off. At yesterday’s high around US$ 689, the pair has been up about 14% on the year. Silver moved lower vis-à-vis the U.S. dollar as the pair tested bids around the US$ 14.41 level and was capped around the $14.74 level.

Crude Oil

Crude oil weakened vis-à-vis the U.S. dollar today as light, sweet NYMEX crude oil futures for April delivery tested bids around the US$ 60.27 level and were capped around the $61.61 level. Further hawkish comments from Iranian leaders regarding that country’s nuclear ambitions were made today and traders expect further sanctions from the United Nations Security Council. Most dealers do not expect OPEC to change output levels when officials convene in Vienna next month.


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