User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 22, 2007 - 10:59:01 GMT
Mellon Bank Foreign Exchange -

Share This Story:
| | Email

Forex Research - Mellon FX Daily - U.S. Edition

Mellon FX Daily 06:10 EDT

Key Points
• EUR-USD downside risk remains.
• Global liquidity is alive and well – higher real interest rates are needed.
• ZEW numbers strong but fail to tell the market anything new.
• Fed’s Lacker speaks on inflation.

Market Outlook

EUR-USD attempted to stabilise in early European trading (perhaps aided by some apprehension about the possibility of a strong ZEW survey), although this did not last. The ZEW numbers were strong enough but they did not tell the market anything new and EUR-USD downside remains favoured. There are no major releases today, although the Fed’s Lacker speaks (see below). The 1.3440 level on EUR-USD has just about held for now, but downside remains favoured in the short-term to 1.3340. Above 1.3500 is required to introduce a sense of stability, while any move through 1.3530-45 would be a more positive sign. The ability of the USD index to make it above 82.60 (yesterday’s high was 82.51) will also be significant.

The ZEW numbers managed to recover further after the weakness seen in the second half of last year, when respondents were showing concern about 1) the possible negative impact of the German VAT hike and 2) the general ability of the German and Eurozone economies to sustain such strong growth. As it turns out, such fears have not been warranted thus far and the realisation of this favourable outcome has been allowing expectations to improve.

The JPY remains steady, with buoyant global markets and investor risk appetites the main factor supporting broadly negative JPY sentiment. The inability of a number of JPY crosses to push on through recent highs does raise some questions about whether current momentum is fading and the risk of some initial corrective activity. However, the increasing focus on China (and other official entities) as a fresh source of global market liquidity will continue to support global market sentiment for the time being and this could mean more eventual difficulties for the JPY, unless there is a sudden recovery in BoJ policy expectations.

Much of the focus on the build-up in FX reserves in recent years has been on the implications for reserve diversification, although there is also a basic liquidity issue. The pool of global liquidity that has been absorbed by official entities has grown dramatically in recent years (see chart) and more of this is likely to be recycled back into private sector asset markets. On this basis the global liquidity machine is alive and well and will most likely require a much higher level of global real interest rates.

Day Ahead
US – Richmond Fed president Lacker speaks on inflation today and it will be interesting to see whether he has changed his tune in any way since the comments he made in early April. At that time, he said he was still uncomfortable with the core CPI backdrop and that if it did not moderate, additional policy firming may be needed.

Data/event EDT Consensus*

US Chain store sls (w/e May 19) w/w 07.45 +0.8% last
US Redbook sls (w/e May 19) m/m 08.55 +2.5% last
US ABC consumer conf (w/e May 20) 17.00 -7 last
US Fed’s Lacker on inflation outlook 19.30
JP All-industry index (Mar) m/m 19.50 -1.3%

Latest data Actual Consensus*
IT Consumer confidence (May) 109.5 108.8
DE ZEW expectations (May) 24.0 23.0
EU ZEW expectations (May) 22.3 15.0
EU Trade balance (Mar, sa) €5.1bn €0.5bn
* Consensus unless stated

2005, Mellon Financial Corporation Note: Although obtained from sources believed by us to be reliable, Mellon Financial Corporation and its affiliates cannot guarantee the accuracy or completeness of the information upon which this report is based. This report does not purport to disclose the risks or benefits of entering into particular transactions and should not be construed as advice in any specific instance. The views in this report constitute our judgement as of this date and are subject to change without notice.
Ian Gunner 44 20 7163 5996 06.40 EDT Monday May 31 2005


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 19 Mar 2018
Tue 20 Mar 2018
AA 9:30 GB- CPI
A 10:00 DE- ZEW Survey
Wed 21 Mar 2018
AA 03:00 AU- Employment
AA 9:30 GB- Employment
A 12:30 US- Current Account
AA 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
A A 18:00 US- Fed Rate Decision
A 21:00 NZ- RBNZ Rate Decision
Thu 22 Mar 2018
AA All Day flash PMIs
AA 9:30 GB- Retail Sales
AA 12:00 GB- Bank Of England Decision
A 13:30 US- Weekly Jobless
Fri 23 Mar 2018
AA 12:30 CA- CPI/Retail Sales
A 12:30 US- Durable Goods
A 14:00 US- New Homes Sales

John M. Bland, MBA
co-founding Partner,
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.



Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105