User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday November 28, 2007 - 11:50:49 GMT

Share This Story:
| | Email

US Dollar Rally Leads Euro, Pound to Plummet - Will We See A Continuation Today?

Wednesday, 28 November 2007 10:00:30 GMT

Written by Boris Schlossberg, Senior Currency Strategist

The FX markets were remarkably quiet for much of the night, though the greenback staged a brief but strong rally as European traders took the stage and sold EUR/USD down more than 100 points for a test of 1.4720 and GBP/USD lower for a touch of 2.06

Talking Points

•    Australian Dollar: Home sales slow as property market cools
•    Japanese Yen: Better than expected retail sales do little for yen
•    Swiss Franc: KOF leading indicator highlights resilience of Swiss economy
•    Euro: German consumer confidence dwindles
•    US Dollar: Heavy event risk including durable goods, Fed’s Beige Book

The FX markets were remarkably quiet for much of the night, though the greenback staged a brief but strong rally as European traders took the stage and sold EUR/USD down more than 100 points for a test of 1.4720 and GBP/USD lower for a touch of 2.06. Likewise, USD/JPY surged to 109.20 before subsequently backing off as lackluster price action in Asian equity markets left carry trades range-bound.

As we’ve seen time and time again, the Japanese yen showed little reaction to regional economy data. Indeed, Japanese retail sales for October rose at a better-than-expected 0.3 percent from the month prior, pushing the annual rate up to 0.8 percent. Gas prices led the index higher, though purchases of autos also contributed to gains. This data comes on the tails of the Japanese Cabinet Office’s monthly economic report, which cut its assessment of the labor market for the first time in three years yesterday, effectively eliminating one of the Bank of Japan’s primary arguments for continuing on with rate normalization. Furthermore, the Japanese Trade Ministry published a survey that showed that 90 percent of small and mid-sized companies were having difficulty passing on higher energy costs to consumers. With inflation unlikely to stem from wage increases or price hikes on consumer goods, there is little impetus for the central bank to increase rates any time soon, and as a result, FX carry trades like USD/JPY and GBP/JPY will likely remain driven by risk aversion trends.

Meanwhile, German consumer confidence for the month of December, as measure by GfK, fell back in line with expectations to an index reading of 4.3 from a downwardly revised 4.8. The decline is not entirely surprising given current outlooks, as the tightening of the credit markets and mounting inflation pressures are likely to quell growth prospects in 2008. Nevertheless, as yesterday's release of the German IFO investor sentiment survey indicated, current conditions remain relatively robust and suggest that consumer and business spending in Q4 should keep expansion on track. Moreover, yesterday’s hot German CPI figures that remain well above the European Central Bank’s 2.0 percent target signal that inflation pressures throughout the entire Euro-zone region are surging. While this would technically give the Trichet & Co. more than enough reason to hike rates in December, the ECB’s claims earlier this month that the “ongoing reappraisal of risk in financial markets has led to continued uncertainty” indicate that they may still prefer to wait and see as the markets have yet to truly stabilize.

The US dollar faces heavy event risk today with durable goods orders, existing home sales, and the Fed’s Beige Book scheduled to be released. Durable goods orders and the housing data are both anticipated to show gloomy results, but the news may not be disappointing enough to spark a drastic dollar selloff. Indeed, the fireworks may not come until the details of the Beige Book report hit the wires as it will allow the markets to gauge the FOMC’s view of the economy. Fed fund futures are fully pricing in a 25bp cut in December but a pronounced focus on inflation may lead expectations to be scaled back, and as a result, the greenback could extend this morning’s gains later on in the day.




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