User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday September 24, 2007 - 16:02:18 GMT
GCI Financial -

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (24 September 2007)

The euro extended recent gains vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4130 level and was supported around the $1.4085 level.  The pair established a new lifetime high before consolidating some intraday gains. The move higher in the common currency was partially fueled by expectations the Federal Open Market Committee will reduce interest rates at least another 25bps before the end of the year.  Traders await remarks from Federal Reserve Chairman Bernanke later in the North American session to see if he offers any additional clues about the Fed’s current thinking that were not detailed in the FOMC’s policy statement last week or in his subsequent Congressional testimony.  Hong Kong Monetary Authority Chief Executive Joseph Yam warned that the U.S. dollar’s weakness may force Asian central banks to reassess their foreign exchange reserves management policies.  Dallas Fed President Fisher indicated the Fed would have risked “unacceptably slow economic growth” if it didn’t cut rates last week and pledged the Fed is prepared to make a “further correction” towards growth or inflation. Data to be released in the U.S. this week include consumer confidence tomorrow and existing home sales.  In eurozone news, the Belgian National Bank’s September business confidence index receded to 1.5 from 3.3 in August.  Data to be released in the eurozone this week include the German Ifo business confidence index.  Other data released today saw EMU-13 industrial orders fall 4.0% m/m in July and climb 10.9% y/y.  Traders await comments on Wednesday from European Central Bank President Trichet to see if he offers any indication the ECB is prepared to lower interest rates before the end of the year.  The other major question on traders’ minds is how the ECB will react to the relative strength of the euro. ECB member Noyer reported “Any abrupt changes in the dollar's value could seriously hamper economic growth. I regard it as extremely positive in this context that the US authorities are always sticking to and continue to stick to their strong dollar policy.”  Euro bids are cited around the US$ 1.3990 level.


¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥114.75 level and was capped around the ¥115.40 level.  Technically, today’s intraday low was right around the 61.8% retracement of the move from ¥109.00 to ¥124.15.  Traders are talking about the shakeup in the leadership of the Liberal Democratic Party as Yasuo Fukuda will be named the country’s new Prime Minister tomorrow and is expected to place moderates in key party posts.  The big questions on traders’ minds is whether Fukuda will promote economic and financial reforms, whether his Ministry of Finance officials will do anything to hasten the unwinding of the short yen carry trade, and how his government will get along with Bank of Japan officials. The Nikkei 225 stock index lost 0.62% to close at ¥16,312.61.  Dollar bids are cited around the ¥114.55 level. The euro came off vis-à-vis the yen as the single currency tested bids around the ¥161.80 level and was capped around the ¥162.65 level.  The British pound and Swiss franc came off vis-à-vis the yen as the crosses tested bids around the ¥232.15 and ¥97.80 levels, respectively.  The Chinese yuan depreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 7.5106 in the over-the-counter market, down from CNY 7.5036.  Merrill Lynch now estimates inflation will peak between 6.5% and 7.0% in the September to October period.


The British appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 2.0315 level and was supported around the $2.0195 level.  Technically, today’s intraday high was just above the 23.6% retracement of the move from $1.9180 to $2.0655.  Bank of England’s quarterly bulletin reported “A broad deterioration of conditions across credit markets was associated with increased volatility and impaired liquidity in global financial markets more generally in the review period.”  Notably, the three-month sterling Libor market interest rate fell to 6.36% from 6.37% on Friday while the overnight rate rose to 5.80% from 5.75%.  Data released in the U.K. today saw August public sector net borrowing print at ₤9.1 billion, the highest level since 1993 and a reflection of the credit market turmoil.  Cable bids are cited around the US$ 2.0150 level.  The euro slumped vis-à-vis the British pound as the single currency tested bids around the ₤0.6950 level and was capped around the ₤0.6975 level.




The Swiss franc came off marginally vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1755 level and was supported around the CHF 1.1685 level.  The August UBS consumption indicator will be released tomorrow.  U.S. dollar offers are cited around the CHF 1.1880 level.  The euro and British pound gained ground vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.6550 and CHF 2.3760 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."

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

Mon 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final University of Michigan

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