User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday September 1, 2004 - 16:05:58 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Analysis and Commentary (1 September 2004)



The euro came off marginally vis-à-vis the U.S. dollar today as the single currency backed away from some technical resistance seen around the US$ 1.2205/10 level. The pair reversed course around the $1.2200 figure and spiked to intraday lows during North American dealing. Data released in the U.S. today saw the August manufacturing ISM index at 59.0, below expectations. Dealers were disappointed with this number and suggest it may lower their forecasts for Friday’s August U.S. non-farm payrolls number. Other data released in the U.S. today saw July construction spending in-line with expectations, gaining +0.4%. The EMU-12 PMI data registered a similar story today with manufacturing growth down in August. The headline PMI index receded 0.8% to a five-month low of 53.9 from July’s 54.7 level. Interestingly, the surge in oil prices are not the major factor in the deceleration but rather a deceleration in manufacturing prices charged. Germany’s DIW Institute today raised its German 2004-2005 deficit forecasts to 3.9% from 3.7%, one day after the German government raised its own forecasts. German retail sales rose sharply in July for the second consecutive month and the EMU-12 jobless rate remained steady at 9.0% in July, as expected. U.S. Treasury’s Taylor was quoted as saying inflation is not an issue despite the high oil price and suggested the U.S. could sustain a growth rate of “at least” 3.5% over the long term. Traders are also paying close attention to tension between the EU and U.S. over a dumping case following a WTO ruling yesterday. The EU is threatening the U.S. with sanctions. Euro bids are cited around the $1.2120 level.

¥

The yen lost some ground vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥109.60 level after briefly testing bids around the ¥108.95 level. Japanese exporters continue to be cited up around the ¥109.50 level in droves. Even though the pair is currently below its 100-day moving average, technicians have expressed some bullishness on account of the slope in the 100-day moving average. Traders are closely paying attention to the price of oil as there has been an increase in geopolitical tensions this week during the U.S. Republican National Convention. The latest tension currently has 400 hostages being held in a Russian school near the Chechnyan border. October NYMEX crude futures are currently trading around the $42.45 level after reaching an intraday high around the $42.80 level. The Nikkei 225 stock index gained 0.41% to close at ¥11,127.35 level, above the psychologically-important ¥11,000 figure while the TOPIX also closed above the ¥1,125 figure. The euro moved higher vis-à-vis the yen today as the single currency tested offers around the ¥133.35 level after finding support around the ¥132.75 level during Australasian dealing. The intraday low barely overshot the 38.2% retracement of the move from ¥131.60 to ¥133.55.

£
The British pound came off sharply vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.8040 level during Australasian dealing before spiking below the $1.7900 figure during North American dealing. Two major data releases prompted sterling’s weakness today. August PMI evidenced its slowest growth rate since February as the CIPS headline index fell to 53.1 from 56.0 in July. Just as importantly, Nationwide house price growth rose a mere +0.1% m/m and +18.9% y/y, the latest evidenced that the housing sector is cooling. This represented the lowest monthly rise since October 2001. The euro moved higher vis-à-vis the British pound today as the single currency tested offers around the £0.6800 figure and was supported around the £0.6750 level.

CHF

The Swiss franc gained ground vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2600 figure and was capped below the CHF 1.2680 level during early European dealing. Swiss National Bank President Roth was quoted as saying Switzerland is in a “situation of price stability” but added “If the economy picks up further, then the current monetary policy would no longer be tenable. Further rate moves would be necessary then.” SNB will unveil its latest quarterly policy assessment in a couple of weeks and interest rate expectations for the rest of 2004 have been receding. Some stops were reached below the CHF 1.2645 level, the 100-day moving average. The euro came off vis-à-vis the Swiss franc today as the single currency tested bids around the CHF 1.5355 level.

 

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 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

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