User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday September 10, 2007 - 14:57:06 GMT
GCI Financial -

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (10 September 2007)


The euro strengthened vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3815 level and was supported around the $1.3765 level.  The common currency reached its strongest level since 8 August as traders continued to react to Friday’s weak U.S. August non-farm payrolls report that saw 4,000 jobs lost last month and sizable downward revisions to June’s and July’s tallies.  Also, positive remarks from multiple European Central Bank officials over the weekend and today emboldened the common currency further.  ECB President Trichet indicated there are strong indications the global economy will continue to expand despite the global credit crisis and said “"We will certainly remain alert at the global level.... This is no time for complacency.”  Trichet added “When markets are embarking on significant corrections, there are also episodes of hectic behaviour, elements of overshooting in term of size of correction and also in terms of volatility. It's certainly the sentiment of central bankers who are around the table that bailing out bad investors would be the worst thing to do.” Similarly, ECB member Noyer added “Our fundamental analysis remains rather positive. There is no reason at this stage to think that euro zone growth will be significantly affected by the current disturbances on financial markets.”  Data released in the eurozone today saw French industrial production rise 1.3% m/m.  In U.S. news, Atlanta Fed President Lockhart spoke today and reported Friday’s U.S. payrolls report “should be evaluated with recently positive reports in retail sales. I’m processing this information along with other timely information as I prepare for next week Federal Open Market Committee meeting.” San Francisco Fed President Yellen and Federal Reserve Governor Mishkin are scheduled to speak later in the day. Philadelphia Fed President Plosser on Friday on Saturday said “I believe disruptions in financial markets can be addressed using the tools available to the Fed without necessarily having to make a shift in the overall direction of monetary policy.”  Most traders believe the Fed will reduce the federal funds target rate by up to 50bps on 18 September.   Euro bids are cited around the US$ 1.3620 level.


¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today
as the greenback tested offers around the ¥114.00 figure and was supported around the ¥112.60 level.  Technically, today’s intraday low was right around the 76.4% retracement of the move from ¥109.00 to ¥124.15.  The yen weakened after the release of weaker-than-expected Q2 GDP data that saw economic output fall 0.3% last quarter, primarily on account of weak capital expenditures.  These data alone will render it more likely that Bank of Japan’s Policy Board will find it more difficult to raise interest rates in the near future from their current 0.50% level.  Many traders believe the central bank will lift the overnight call rate by +0.25% to +0.75% by the end of the year.  Other data released today saw outstanding loans by Japanese banks rise 0.5% y/y in August while the M2+CD money supply rose 1.8% y/y.  Also, the economy watchers survey receded to 44.1 in August, its lowest level since June 2003.  The Nikkei 225 stock index shed 2.22% to close at ¥15,764.97. Dollar bids are cited around the ¥112.55 level.  The euro gained ground vis-à-vis the yen as the single currency tested offers around the ¥157.35 level and was supported around the ¥155.15 level. The British pound and Swiss franc moved higher vis-à-vis the yen as the crosses tested offers around the ¥231.45 and ¥96.00 levels, respectively.  The Chinese yuan appreciated strongly vis-à-vis the U.S. dollar as the greenback closed at CNY 7.5214 in the over-the-counter market, down from CNY 7.5395.  Data released in China today saw the August producer price index up 2.6% y/y.  People’s Bank of China Governor Zhou reported he is concerned about inflation.  China’s new state-controlled foreign exchange management agency, the China Investment Co Ltd, is likely to being operations this week.



The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 2.0330 level and was supported around the $2.0260 level.  Technically, today’s intraday low was right around the 61.8% retracement of the move from $2.0655 to $1.9650.  Data released in the U.K. today saw August manufacturing input prices decline for the second consecutive month while output prices notched their smallest gain in nine months.  Input prices fell 0.5% m/m and July’s tally was downwardly revised to -0.8%.  On an annualizes basis, input prices were up 0.7% after July’s 0.3% decline and the core component was up +0.1% m/m and +1.8% y/y. Producers’ output prices were up 0.1% m/m and 2.5% y/y. Core output prices were up 0.2% m/m and 2.4% y/y. For the most part, these data are unlikely to pressure Bank of England to tighten monetary policy further though most traders expect the Monetary Policy Committee will lift the repo rate by +25bps to 6.00% by the end of the year.  Prime Minister Brown today reported discipline on public sector pay rises is “essential” to counter domestic inflationary pressures.  Other data released in the U.K. today saw DCLG July annual house price inflation up 12.4%, its highest level since March 2005.  Cable bids are cited around the US$ 2.0160 level.  The euro gained ground vis-à-vis the British pound as the single currency tested offers around the ₤0.6800 figure and was supported around the ₤0.6780 level.




The Swiss franc gained ground vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1840 level and was capped around the CHF 1.1875 level.  Today’s range was very tight ahead of this week’s interest rate decision by Swiss National Bank. Most traders believe Swiss National Bank will keep monetary policy unchanged this week while a minority believes SNB will lift its three-month Swiss franc Libor rate target by +25bps.  The European Central Bank’s recent decision to keep rates unchanged will likely result in no change at the SNB.  The KOF economic research central lifted its 2007 GDP growth forecast to 2.6% from 2.4% with the unemployment rate forecast lower at 2.8% from 2.9%.  Dollar offers are cited around the CHF 1.2120 level.  The euro and British pound came off vis-à-vis the Swiss franc as the crosses tested bids around the CHF 1.6330 and CHF 2.4025 levels, respectively.


A$/ NZ$


The Australian dollar slumped vis-à-vis the U.S. dollar today as the Aussie tested bids around the US$ 0.8170 level and was capped around the $0.8270 level.  Technically, today’s intraday high was right around the 50% retracement of the move from $0.8870 to $0.7675.  Data released in Australia today saw the number of Australian dwellings financed in July off 4.1% m/m to 63,599.  Australian dollar bids are cited around the US$ 0.8130 level. The New Zealand dollar moved higher vis-à-vis the U.S. dollar as the kiwi tested offers around the US$ 0.6970 level and was supported around the US$ 0.6825 level.  New Zealand dollar bids are cited around the US$ 0.6760 level.




The Canadian dollar gained marginal ground vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 1.0525 level and was capped around the C$ 1.0590 level.  Canadian data scheduled for release tomorrow include housing starts, housing prices, and international trade.  U.S. dollar offers are cited around the C$ 1.0655 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."

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

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

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