User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 25, 2007 - 15:21:35 GMT
GCI Financial -

Share This Story:
| | Email

Forex and Commodity Market Commentary and Analysis (25 September 2007)

The euro extended recent gains vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4155 level and was supported around the $1.4060 level.  Traders continue to speculate the Federal Open Market Committee will expand monetary policy further next month with federal funds futures pricing in a 90% chance the Fed will lower the federal funds target rate another 25bps at the October FOMC meeting.  The likelihood of a Fed move as discounted by the federal funds futures market was 72% before the release of U.S. economic data today that saw September consumer confidence print at 99.8, down from 105.6 in August and weaker-than-expected. Also, August existing home sales were down 4.3% to an annualized 5.5 million units level from -0.2% in July, the latest evidence that the credit market contraction has had a significant impact on the U.S. housing sector.  Other data released in the U.S. today saw Redbook retail sales up +0.5% m/m in the first three weeks of September while the September Richmond Fed manufacturing index improved to +14 from +7 in August.  In eurozone news, the German Ifo September business climate index declined for the fourth consecutive month, rolling back to 104.2 from 105.8 in August.  The series has been weak recently and these data will only reinforce the view that the European Central Bank is likely to move to a neutral or easing bias and possibly expand monetary policy in the near future.  European Central Bank member Garganas was fairly hawkish in remarks today saying “the upside risks to inflation dominate any effects stemming from the appreciation of the euro.” Other data released in the eurozone today saw the August import price index off 0.7% m/m and off 0.6% y/y.  Euro bids are cited around the US$ 1.4030 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥114.00 figure and was capped around the ¥114.95 level.  As expected, Yasuo Fukuda was named the new Prime Minister of Japan overnight and traders are curious to see how his government will pursue economic and financial reforms.  Furthermore, dealers want to know who will be appointed to key posts in the Ministry of Finance and what Fukuda’s attitude towards the yen will be.  Any indication that Fukuda’s government may pressure Bank of Japan to not raising rates will likely forestall the unwinding of the short yen carry trade.  Minutes were released from BoJ’s Policy Board meeting last month and suggested policymakers did not raise the overnight call rate on account of instability in global financial markets.  Rate-setters have made it clear they plan to lift rates “gradually” and the big question on traders’ minds is when the overnight call rate will be lifted by 25bps to +0.75%.  Data released in Japan overnight saw August supermarket sales off 0.5% m/m, the twentieth consecutive monthly decline.  Also, the August corporate services price index was off 0.5% m/m and up 1.0% y/y.  Dollar bids are cited around the ¥112.55 level.  The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥161.95 level and was supported around the ¥161.00 figure.  The British pound weakened vis-à-vis the yen as sterling tested bids around the ¥229.75 level while the Swiss franc gained ground vis-à-vis the yen as the pair tested offers around the ¥98.20 level.  The Chinese yuan lost marginal ground vis-à-vis the U.S. dollar as the greenback closed at CNY 7.5112 in the over-the-counter market, up from CNY 7.5106. 



The British came off vis-à-vis the U.S. dollar today as cable tested bids around the US$ 2.0085 level and was capped around the $2.0230 level.    Technically, today’s intraday low was right around the 38.2% retracement of the move from $1.9180 to $2.0655.  Cable came off after The Independent reported the U.K.’s bank deposit protection scheme has funds of only ₤4.4 billion, suggesting the Bank of England and government could have a problem on their hands if the panicked withdrawals from Northern Rock PLC spreads to other financial institutions.  Data released in the U.K. today saw Q2 business investment revised to 0.4% from 0.8%. The International Monetary Fund reported the sub-prime mortgage crisis that has roiled U.S. markets could result in similar problems in the U.K. Bank of England Monetary Policy Committee member Sentance yesterday indicated the problems in the financial markets could reduce demand and lower inflation.  Liquidity conditions improved overnight as the three-month LIBOR rate fell to 6.34% from 6.36% and the overnight fixing fell to 5.73% from 5.80%. Cable bids are cited around the US$ 2.0090 level.  The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.7015 level and was supported around the ₤0.6960 level.








The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1635 level and was capped around the CHF 1.1745 level.  The pair reached its lowest level since March 2005.  Data released in Switzerland today saw the August private consumption index fall to 1.93 from 2.26 in July.  U.S. dollar offers are cited around the CHF 1.1760 level.  The euro and British pound came off vis-à-vis the Swiss franc as the crosses tested bids around the CHF 1.6470 and CHF 2.3505 levels, respectively.


A$/ NZ$


The Australian dollar gained marginal ground vis-à-vis the U.S. dollar today as the Aussie tested offers around the US$ 8700 figure and was supported around the $0.8610 level.  Australian dollar bids are cited around the US$ 0.8585 level. The New Zealand dollar came off vis-à-vis the U.S. dollar as the kiwi tested bids around the US$ 0.7305 level and was capped around the $0.7475 level.




The Canadian dollar appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the C$ 0.9995 level and was capped around the C$ 1.0065 level.  Traders await remarks from Bank of Canada Governor Dodge later in the North American session.  U.S. dollar offers are cited around the C$ 1.0090 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

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