User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday March 29, 2007 - 15:14:09 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (29 March 2007)



The euro gained marginal ground vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3350 level and was supported around the $1.3300 figure. Technically, today’s intraday high was right around the 61.8% retracement of the move from $1.3410 to $1.3255. Federal Reserve Chairman Bernanke testified yesterday and indicated he does not yet see an end to the expansion of the U.S. economy and reiterated inflationary pressures remain for the U.S. economy. Data released in the U.S, today saw final Q4 GDP print at 2.5%, up from previous estimates, while the GDP deflator came in at 1.6% and the PCE price index was off 1.0%. Also, weekly initial jobless claims fell 10,000 to 308,000. In eurozone news, Germany’s February jobless number fell 65,000 while the unemployment rate ticked down to 9.2%. The European Commission reported the eurozone’s growth outlook remains “favourable” and estimated GDP growth will be 2.4% in 2007, down from 2.6% in 2006. Euro bids are cited around the US$ 1.3285/ 45 levels.

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥117.85 level and was supported around the ¥116.65 level. Technically, today’s intraday low was right around the 61.8% retracement of the move from ¥121.40 to ¥109.00. Data released in Japan overnight saw February retail sales decline 0.2% y/y, the fourth consecutive monthly decline, and foreign investors were net buyers of Japanese equities for the first time in four weeks. Vice finance minister Fujii said “I believe that foreign exchange rates should reflect economic fundamentals and that chaotic fluctuations in share prices and foreign exchange rates are undesirable.” Fujii also indicated Japan has “have no plans to make a drastic change in the portfolio of currencies in Japan's foreign reserves,” a war chest that now totals some US$ 905.05 billion. Tomorrow is the final business day of Japan’s fiscal year and many economic data will be released overnight including consumer prices, household spending, and employment numbers. The Nikkei 225 stock index climbed 0.05% to close at ¥17,263.94. Dollar bids are cited around the ¥116.80 level. The euro appreciated vis-à-vis the yen as the single currency tested offers around the ¥157.25 level and was supported around the ¥155.35 level. The British pound and Swiss franc gained ground vis-à-vis the yen as the crosses tested offers around the ¥231.40 and ¥96.80 levels, respectively. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.7270 in the over-the-counter market, down from CNY 7.7295. China rebuffed the latest pressure from the U.S. Congress to liberalize its currency regime further saying “China has adopted an exchange rate policy that is decided by the market. Both sides need to observe the principle of mutual respect... rather than using pressure or threatening to use pressure.”



The British pound climbed higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.9655 level and was supported around the $1.9610 level. Technically, today’s intraday high was right around the 23.6% retracement of the move from $1.8835 to $1.9845. Data released in the U.K. today saw the Q4 productivity rate decelerate to 1.9% from 2.3% in Q3 while the final February M4 money supply expanded 0.9% m/m and 12.7% y/y. Also, U.K. services sector output was up 0.8% in the three months to January and Bank of England reported February net mortgage lending came in at ₤10.3 billion, the second highest level on record. Moreover, CBI reported the balance of U.K. retailers that reported sales volume growth over last year was +32%, the fourth consecutive positive balance and the highest level since December 2004. Cable bids are cited around the US$ 1.9535 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.6795 level and was supported around the ₤0.6775 level.

CHF

The Swiss franc came off vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2185 level and was supported around the CHF 1.2135 level. Technically, today’s intraday high was just above the 23.6% retracement of the move from CHF 1.2025 to CHF 1.2225. The Swiss government today lifted its GDP forecast for 2007 to 2.0% from 1.7% and reaffirmed its 2008 forecast of 1.7%. Dollar offers are cited around the CHF 1.2215 level. The euro and British pound moved higher vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.6245 and CHF 2.3915 levels, respectively.

A$

The Australian dollar gained ground vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.8100 figure and was supported around the $0.8045 level. Data released in Australia today saw job vacancies fall 2.3% in the three months to February and were up 11.3% y/y. Australian dollar bids are cited around the US$ 0.8035/ 0.7990 levels.

C$

The Canadian dollar gained marginal ground vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 1.1565 level and was capped around the C$ 1.1610 level. January GDP data will be released tomorrow. U.S. dollar bids are cited around the US$ 1.1510 level.

Gold/ Silver

Gold depreciated vis-à-vis the U.S. dollar today as the yellow metal tested bids around the US$ 658.90 level and was capped around the $666.60 level. Silver shed ground vis-à-vis the U.S. dollar as the pair tested bids around the US$ 13.17 level and was capped around the $13.38 level.

Crude Oil

Crude oil extended recent gains vis-à-vis the U.S. dollar today as light, sweet NYMEX crude oil futures for May delivery tested offers around the US$ 64.95 level and was supported around the $63.50 level. Data released in the U.S. yesterday saw gasoline stocks decline by 300,000 in the week ending 23 March while crude oil stocks were off 900,000 barrels to 328.4 million barrels. News that a second U.S. aircraft carrier arrived in the Sea of Oman has traders nervous that tensions between Iran and the U.K. could escalate. Iran continues to hold fifteen U.K. navy personnel it kidnapped last Friday.

 

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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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