User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 28, 2004 - 13:24:59 GMT
GCI Financial -

Share This Story:
| | Email

Forex Market Analysis and Commentary (28 September 2004)

The euro extended its recent upswing vis-à-vis the U.S. dollar today as the single currency tested offers just below the US$ 1.2350 level, its highest level since 20 August. The pair has now gained more than 350 pips after briefly trading below the $1.2000 figure on 30 August. The common currency accelerated above the $1.2315 level during North American dealing today as traders reacted to re-established some of the long positions that were consolidated the day after the FOMC’s interest rate decision last week. The big question in the markets now is whether or not the spike in oil prices will impact global growth or inflation more. Thus far, there is generally not any evidence that the spike in energy prices is manifesting in second-round price pressures such as rising wages. Traders, therefore, are betting that the rise in energy prices will have a larger impact on global economic expansion. Data released in the eurozone today saw Italy’s Q2 jobless rate fall to 8.1% from 8.2% in Q2, the lowest level on record. EU official Regling today offered a mixed assessment of the eurozone economy, saying there it is currently supported by “growing domestic demand” but cautioned there is a “growing prospect” that the so-called Lisbon goal of rendering the eurozone economy the “most competitive” by 2010 would not be reached on account of lagging reforms. Minneapolis Fed President Stern spoke yesterday and downplayed concerns about consumer debt. Traders are very interested in this weekend’s G7 meeting in Washington, D.C. to hear their pronouncements about Asian currencies and the spike in energy prices.


The yen extended recent losses vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥111.75 level after testing bids around the ¥111.15 level. The pair has not traded at these levels since 13 August and many dealers are attributing the rise to the giant spike in the price of oil. November 2002 NYMEX crude futures traded well above the US$ 50.00 figure today, a record high. Oil import-dependent Japan is a major price-taker and accordingly, the yen is being offered. Anecdotally, the Japanese media today reported that many Japanese airlines will hike fares by some 5% in 2005 on account of oil. Stops were triggered around the ¥111.45 level during the pair’s surge higher today and its retracement has been shallow. Traders continue to gobble up Japanese fixed-income securities with today’s two-year JGB sale producing a bid/cover ration of 41.24 times. Notably, Japanese equities extended their losing streak to eight days overnight with the Nikkei 225 stock index finishing 0.40% lower at ¥10,815.57. Dollar bids are cited around the ¥111.10 level. The euro pressed higher vis-à-vis the yen today as the single currency tested offers around the ¥137.55 level and was supported around the ¥136.60 level. Stops were hit above the ¥137.00 figure during the move higher.


The British pound escalated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.8155 level after finding some good demand around the $1.8075 level. Sterling has not been this strong since 23 August when it traded above the $1.8200 figure. Technically, cable has now had at least five days with at least a higher high, a higher low, or both as it extends its upturn from the $1.7815 level. Data released in the U.K. today saw Q2 business investment upwardly revised sharply to +2.6% q/q from the previous estimated of just +0.5% and was +5.9% higher y/y. Traders are interested in these data because they suggest U.K. Q2 GDP may be upwardly revised when they are released on Wednesday. Cable bids are seen around the $1.8050/25 levels. The euro moved higher vis-à-vis the British pound today as the single currency tested offers around the £0.6810 level after finding bids around the £0.6780 level.


The Swiss franc gained some ground vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.2555 level after failing to get above the CHF 1.2630 level. Swissy has been locked in an uncharacteristically tight range of less than 300 pips during the month of September and the current three-month moving range has not been this muted since December 1995. Some stops were reached below the CHF 1.2600 figure today during the pair’s move downward. Dollar bids are cited around the CHF 1.2550/20 levels. The euro was little changed vis-à-vis the Swiss franc today as the single currency tested offers around the CHF 1.5530 level and was supported just below the CHF 1.5500 figure.


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