User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday July 17, 2007 - 14:58:24 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (17 July 2007)



The euro gained ground vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3800 figure and was supported around the US$ 1.3755 level. Technically, today’s intraday low was right around the 23.6% retracement of the move from $1.3565 to $1.3815. Many data were released in the U.S. today. First, headline producer price inflation was off 0.2% m/m in June, the first decline since January. These data were countered by a 0.3% rise in core PPI, more-than-expected. Traders await the release of tomorrow’s consumer price inflation data to see if any core factory gate price pressures are moving to the retail level. Second, June capacity utilization improved to 81.7% from a revised 81.4% in May. Third, June industrial production rose 0.5% m/m from a revised -0.1% in May. Fourth, May Treasury International Capital portfolio inflows data were released and evidenced net foreign capital inflows of US$ 105.9 billion, exceeding expectations and up from April’s revised US$ 83.6 billion tally. Net long-term securities purchases rose to US$ 126.1 billion from a revised US$ 80.3 billion in April. Traders await testimony from Federal Reserve Chairman Bernanke tomorrow and Thursday. In eurozone news, the German July ZEW economic sentiment came in much weaker-than-expected, falling to +10.4 from +20.3 in June, the second consecutive monthly decline. European Central Bank member Garganas today saw that inflation risks are increasing. Euro bids are cited around the US$ 1.3680 level.

¥/ CNY

The yen came off vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥122.20 level and was supported around the ¥121.70 level. Technically, today’s intraday low was above the 76.4% retracement of the move from ¥120.75 to ¥124.15. Data released in Japan overnight saw the May tertiary index off 0.1% m/m, the second decline in five months. The government kept its economic assessment unchanged in July, noting there is ongoing weakness in some industrial production sectors. Most traders believe Bank of Japan will lift the overnight call rate by +25bps to +0.75% in August. The Nikkei 225 stock index lost 0.12% to close at ¥18,217.27. Dollar bids are cited around the ¥120.70 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥168.50 level and was supported around the ¥167.70 level. The British pound and Swiss franc gained ground vis-à-vis the yen as the crosses tested offers around the ¥250.20 and ¥101.70 levels, respectively. In Chinese news, the yuan’s central parity rate vis-à-vis the U.S. dollar was set at CNY 7.5651, down from CNY 7.5681. The Chinese media reported the Financial and Economic Affairs Committee of the National People’s Congress released a report that indicates “The economic overheating trend is even clearer. Inflationary pressure continues to increase, especially food and house prices. "The government is highly concerned about the overly rapid rise of food prices and will closely watch domestic and overseas price movements to reasonably guide rising prices.” Q2 GDP data will be released on Thursday and is expected to print around 11%.



The British pound extended recent gains vis-à-vis the U.S. dollar today as cable tested offers around the US$ 2.0475 level and was supported around the $2.0345 level. Today’s intraday high represented a new multi-decade high. Sterling was pushed higher by stronger-than-expected June consumer inflation that saw a print of 2.4%, down from 2.5% in May but above forecasts. Core CPI escalated to a ten-year high of 2% and the retail price index rose to 4.4% in June from 4.3% in May. These data suggest Bank of England’s Monetary Policy Committee will likely remain hawkish and many traders believe the MPC may take the repo rate up to 6.25% before the end of the year. Dealers await the release of the MPC’s most recent meeting minutes tomorrow. Cable bids are cited around the US$ 2.0375 level. The euro came off vis-à-vis the British pound as the single currency tested bids around the ₤0.6730 level and was capped around the ₤0.6770 level.

CHF

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1970 level and was capped around the CHF 1.2035 level. Data released in Switzerland today saw May retail sales up 3.1% y/y. Dollar offers are cited around the CHF 1.2100 figure. The euro came off vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.6525 level while the British pound gained ground vis-à-vis the Swiss franc and tested offers around the CHF 2.4615 level.

A$/ NZ$

The Australian dollar moved higher vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 0.8750 level and was supported around the $0.8705 level. Australian dollar bids are cited around the $0.8665 level. The New Zealand dollar weakened vis-à-vis the U.S. dollar as the kiwi tested bids around the US$ 0.7900 figure and was capped around the $0.7940 level.

C$

The Canadian dollar gained marginal ground vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 1.0420 level and was capped around the C$ 1.0450 level. Traders await the release of tomorrow’s June consumer price index data along with the June leading economic. On Thursday, wholesale trade and international securities data will be released. U.S. dollar offers are cited around the C$ 1.0615 level.

Gold/ Silver

Gold appreciated vis-à-vis the U.S. dollar today as the yellow metal tested offers around the US$ 667.10 level and was supported around the $662.40 level. The U.S. dollar’s intraday losses and intraday gains in energy prices pushed gold higher, as did higher-than-expected U.S. core PPI data. Silver moved higher vis-à-vis the U.S. dollar as the pair tested offers around the US$ 13.07 level and was supported around the $12.86 level.

Crude Oil

Crude oil gained ground vis-à-vis the U.S. dollar today as light, sweet NYMEX crude oil for August delivery tested offers around the US$ 75.20 level and was supported around the $73.75 level. Traders continue to drive the price higher on account of ongoing maintenance in the North Sea, a tight supply of U.S. gasoline during the summer driving season, and geopolitical tensions in Iran and Nigeria. Dealers are also paying close attention to any possible tropical storms or hurricanes that could develop in the U.S. Gulf.

 

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 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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