User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 7, 2004 - 15:02:38 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex Market Commentary and Analysis (7 September 2004)



The euro retraced many of its intraday gains vis-à-vis the U.S. dollar today as a move to the US$ 1.2110 level could failed to hold and the pair moved back to the $1.2060 level during North American dealing. Liquidity returned to near-normal today following yesterday’s Labour Day holiday in the U.S. Traders are talking about hawkish remarks from ECB’s Quaden who said “particular vigilance” is now required regarding upside inflation risks and specifically about oil-related price pressures. The ECB announced no change in monetary policy last week and Quaden also added “The recovery in the eurozone has largely materialzed ... a (rate) cut is not with us for the time being." It remains to be seen if Quaden’s hawkishness is echoed by comments from other ECB policymakers and if this hawkishness evolves into policy action. Nevertheless, this is the most hawkish statement the markets have heard from an ECB policymaker in months. Traders await testimony from Fed Chairman Greenspan tomorrow to see if he adds any additional insight about the Fed’s current views on the economy. The FOMC will next convene on 21 September and dealers are interested to see if the Fed will skip the meeting and opt for another rate hike after the November presidential election. Data released in the eurozone today saw EMU-12 Q2 GDP unrevised at +0.5% q/q and it is notable that domestic demand weakened for the second quarter in a row to a mere +0.1% q/q. Other data released in Germany today saw July industrial output come in stronger-than-expected, up +1.6% m/m from June. Also, Italian August consumer confidence rose more-than-expected. Germany’s Bundesbank today said the proposed changes to the EU’s Stability and Growth Pact will weaken – and not strengthen – fiscal policies in the 25 member states. Euro offers are cited around the $1.2120 level.

¥

The yen rallied vis-à-vis the U.S. dollar today as the greenback fell to the ¥109.55 level after peaking around the ¥110.25 level during Australasian dealing. The pair’s inability to get above the ¥110.30 retracement level pushed the yen bears into action and hit stops below the ¥110.00 figure. A mixed bag of Japanese economic data also contributed to the yen’s gains today with the July leading indicator unchanged m/m at 66.7 while – the eleventh consecutive month above the key 50.0 index level – while the July coincident indicator came off to 77.8, down sharply from June’s 90.9 level. Traders are positioning themselves ahead of Friday’s Q2 GDP data in Japan and many economists are upgrading their forecasts given the recent improving economic data there. Other data released in Japan today saw its foreign exchange reserves reach US$ 827.9 billion at the end of August, up from July’s tally but probably not an indication of any yen-selling intervention. Finance Minister Tanigaki confirmed APEC ministers today discussed foreign exchange but said the Chinese RMB was not specifically discussed. A brief drop below the $43.00 figure in October NYMEX crude futures also contributed to the yen’s gains today. OPEC’s Yusgiantoro was quoted as saying the world’s oil market has an oversupply of 1.5 million barrels per day and he intimated the production ceiling may be upped when OPEC ministers convene on 15 September. The Nikkei 225 stock index gained 0.49% to close at ¥11,298.94, off intraday highs that saw a five-week high just below the ¥11,300 level. Dollar bids are cited around the ¥109.60/30 levels with more demand around the ¥108.70/ 30 levels. Dollar offers are seen around the ¥110.30/60 levels with additional resistance around the ¥111.00/50 levels. The euro fell to one-week lows vis-à-vis the yen today as the single currency tested bids around the ¥132.25 level after failing to make headway above the ¥133.00 figure overnight.

£

The British pound came off vis-à-vis the U.S. dollar today as cable tested bids around the $1.7710 level after being capped around the $1.7850 level. Stops were hit below the $1.7790/ 50 levels during cable’s decline and the pair only retraced a mere 30 points during North American dealing. Data released in the U.K. today saw manufacturing output fall in July, off 0.2% m/m and up +0.9% y/y. Similarly, overall industrial production was off 0.3% m/m and was only up +0.1% y/y. These data are the latest in a string of economic data that evidence a deceleration in economic activity in the UK. Cable also weakened today on account of a 150 decline in the sterling/ yen cross. Cable bids are cited around the $1.7710/ $1.7640 levels with offers around the $1.7850/70 levels. The euro gained ground vis-à-vis the British pound today as the single currency tested offers around the £0.6820 level and was supported around the £0.6765 level.

CHF

The Swiss franc erased most of its intraday gains and losses vis-à-vis the U.S. dollar today as the greenback moved back to the CHF 1.2700 figure after testing offers around the CHF 1.2725 level and testing bids around the CHF 1.2655 level. Data released in Switzerland today saw the Swiss unemployment rate move higher to 3.6% last month, exceeding forecasts. More Swiss data will be released later this week and Swiss National Bank’s Hildebrand is scheduled to speak tomorrow. Dollar bids are seen around the CHF 1.2650 level. The euro gained ground vis-à-vis the Swiss franc today as the single currency tested bids around the CHF 1.5315 level and tested offers around the 1.5350 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