User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday August 14, 2007 - 17:00:01 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (14 August 2007)

 

The euro came off vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3560 and was capped around the $1.3625 level.  Technically, today’s intraday high was right around the 38.2% retracement of the move from $1.3260 to $1.3850.  Data released in the U.S. today saw July producer price inflation rise 0.6% m/m, more-than-expected, while core prices were up just 0.1%, below expectations.  Core PPI prices are up 2.3% y/y, the fastest annual gain since September 2005.  These data suggest the Federal Open Market Committee will find it difficult to justify a monetary easing should ongoing credit dislocations warrant same.  Also, the U.S. trade deficit receded to a four-month low of -US$ 58.1 billion.  In eurozone news, European Central Bank President Trichet today said “We have provided in particular the liquidity which was needed to permit an orderly functioning of the money market.  We experience a period of market nervousness, a period in which we see increased volatility in many markets and a significant re-appreciation of risks. In some respects, what has been observed can be interpreted as a normalization of the pricing of risk.”  Traders interpreted this as an indication the ECB is becoming optimistic about the ongoing credit problems in the market and will begin to withdraw liquidity from the system. Trichet’s remarks were amplified by ECB member Weber.  Data released in the eurozone today saw EMU-13 GDP growth of just 0.3% q/q and 2.5% y/y in Q2, the weakest pace since Q1 2005.  Data to be released on Thursday include the final July harmonized inflation figures for the eurozone and if they come in weaker-than-expected, they could provide the ECB will enough breathing room to delay their next monetary tightening.  Euro bids are cited around the US$ 1.3715 level.

 

¥/ CNY

 

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥117.70 level and was capped around the ¥118.50 level.  Technically, today’s intraday high was right around the 61.8% retracement of the move from ¥115.15 to ¥124.15.  Bank of Japan drained ¥1.6 trillion in money market liquidity today that it had injected over the past several business days to counter ongoing global liquidity issues. Data released in Japan today saw the June tertiary index rise 0.1% m/m, the third increase in six months.  Traders are still split as to whether or not Bank of Japan’s Policy Board will raise the overnight call rate by +25bps this month to +0.75%.  Many traders now see September as being a more likely time frame given the current global repricing of risk in the credit markets.  The BoJ Policy Board will convene on 22-23 August. The Nikkei 225 stock index gained +0.27% to close at ¥16,844.61.  Dollar bids are cited around the ¥117.25 level.  The euro weakened vis-à-vis the yen as the single currency tested bids around the ¥159.75 level and was capped around the ¥161.00 figure.  The British pound and Swiss franc lost ground vis-à-vis the yen as the crosses tested bids around the ¥235.35 and ¥97.40 levels, respectively.  The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.5760 in the over-the-counter market, down from CNY 7.5815.  Data released in China saw July retail sales print at CNY 699.8 billion, up 16.4% y/y, while July wholesale prices accelerated 6.1% y/y from June’s 5.4% y/y climb.  Many traders believe People’s Bank of China will be forced to tighten monetary policy further in the coming days or weeks.

 

 

The British pound extended its recent sharp sell-off vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.9980 level and was capped around the $2.0130 level.  Technically, today’s intraday high was right around the 50% retracement of the move from $1.9620 to $2.0655.  Data released in the U.K. today saw consumer price inflation fall dramatically last month, printing below the Bank of England’s 2.0% target rate for the first time in fifteen months.  Annual CPI growth decelerated to 1.9% in July from 2.4% in June, the largest monthly decline since May 2002.  These data suggest Bank of England’s Monetary Policy Committee will keep the repo rate on hold for the time being and will likely lift it by +25bps to 6.00% by the end of the year.  Other data released today saw RICS house prices expand in July below their long-term average.  Cable bids are cited around the US$ 1.9865 level.  The euro gained ground vis-à-vis the British pound as the single currency tested offers around the ₤0.6795 level and was supported around the ₤0.6755 level.

 

CHF

 

The Swiss franc came off vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2115 level and was supported around the CHF 1.2025 level.  Technically, today’s intraday low was right around the 61.8% retracement of the move from CHF 1.2165 to CHF 1.1815 and the pair reached its highest level since 27 July.  Dollar offers are cited around the CHF 1.2140 level.  The euro and British pound came off vis-à-vis the Swiss franc as the crosses tested bids around the CHF 1.6375 and CHF 2.4135 levels, respectively.

 

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 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

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



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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