User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday September 19, 2007 - 19:04:13 GMT
GCI Financial - www.gcitrading.com

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (19 September 2007)

The euro came off vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3935 level and was capped around the $1.3985 level.  Today’s range was limited following yesterday’s significant move higher that saw the common currency establish a new lifetime high and come within fifteen pips of testing the psychologically-important US$ 1.4000 figure.  The impetus for the pair’s gains yesterday was a larger-than-expected interest rate reduction by the Federal Open Market Committee that saw the federal funds target rate lowered by 50bps to 4.75%.  Most traders expected the FOMC to reduce rates by 25bps and many Fed-watchers are already anticipating policymakers will lower rates another 25bps this year.    The FOMC reported “Economic growth was moderate during the first half of the year, but the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally.  Today’s action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time.  Readings on core inflation have improved modestly this year.  However, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully.  Developments in financial markets since the Committee’s last regular meeting have increased the uncertainty surrounding the economic outlook.  The Committee will continue to assess the effects of these and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth.”  Equity markets reacted very positively to the Fed’s decision that also included a 50bps reduction in the discount rate.  The Fed is clearly concerned about the impact of the subprime mortgage market crisis on the U.S. housing sector.  Data released in the U.S. today saw August headline consumer price inflation off 0.1%, the first negative reading since October 2006.  Core CPI prices were up 0.2% last month and core inflation is now up 2.1% over the past twelve months. These data are consistent with the Fed’s assessment that inflation is moderating.  Other data released today saw August housing starts off 2.6% to 1.331 million units while permits for future construction were at their lowest levels in more than one decade. U.S. federal housing regulators provided the housing market with a little bit of a boost today in granting Fannie Mae and Freddie Mac with the capacity to invest US$ 20 billion in subprime mortgages.  In eurozone news, the German government warned a weaker dollar could negatively impact German exports. Data released in Germany saw the August producer price index up 0.1% m/m and 1.0% y/y. 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 ¥116.30 level and was supported around the ¥115.65 level.  Technically, today’s intraday high was right around the 38.2% retracement of the move from ¥122.15 to ¥111.60.  As expected, Bank of Japan’s Policy Board voted 8-to-1 to keep the overnight call rate unchanged at +0.50%.  The central bank also kept its economic assessment of the economy unchanged and most traders believe the BoJ may be forced to keep the overnight call rate unchanged through the end of 2007.  BoJ Governor Fukui said instability in global financial markets and downside risks surrounding the U.S. economy countered “the steady expansion of the Japanese economy.”  Data released in Japan overnight saw August department store sales rise 1.4% y/y while the July leading index was upwardly revised to 72.7.  The Nikkei 225 stock index gained 3.67% to close at ¥16,381.54.  Dollar bids are cited around the ¥113.70 level.  The euro came off vis-à-vis the yen as the single currency tested bids around the ¥161.35 level and was capped around the ¥162.45 level.  The British pound and Swiss franc weakened vis-à-vis the yen as the crosses tested bids around the ¥231.10 and ¥97.80 levels, respectively.  The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.5135 in the over-the-counter market, down from CNY 7.5228 – the pair’s weakest closing price since the revaluation in July 2005.  The government now estimates 2007 retail sales will print around CNY 8.8 trillion, up 15%.

 

 

The British extended recent losses vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.9950 level and was capped around the $2.0170 level.  Technically, today’s intraday high was just above the 50% retracement of the move from $2.0655 to $1.9650.  Minutes from Bank of England Monetary Policy Committee’s September interest rate meeting were released today and evidenced a 9-to-0 vote to keep rates unchanged on account of turmoil in the credit market.  The MPC also concluded the upside balance of risk to inflation it identified last month “had probably receded.” Bank of England today announced it will avail the support it has provided over the past week to Northern Rock PLC to other financial institutions.  The central bank is trying bring the sterling money markets under control where the premium for short-term liquidity remains 100bps above the central bank’s repo rate target of 5.75%.  Most traders now believe the BoE will be forced to reduce interest rates over the coming months.  Cable bids are cited around the US$ 1.9805 level.  The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.6995 level and was supported around the ₤0.6930 level.

 

CHF

 

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1875 level and was supported around the CHF 1.1790 level.  The pair reached its lowest level since April 2005 before being bid higher today.  Data released in Switzerland today saw July retail sales rise 3.3% y/y, above expectations.  Dollar offers are cited around the CHF 1.1960 level.  The euro moved higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.6560 level while the British pound came off vis-à-vis the Swiss franc and tested bids around the CHF 2.3590 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 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