User Name: Password:      Register - Lost password?

Forex Forum     ← Back to Forums

Sort Order: Latest Post on Top - Latest Post Last            Post Reply

Hong Kong AceTrader  01:28:37 GMT - 03/07/2014  
[B]Market Review[/B] - 06/03/2014 [I]20:39GMT[/I]

[B]Euro rallies to a fresh two-month peak after ECB raises inflation expectation[/B]

The single currency rallied to a fresh two-month peak at 1.3873 versus U.S. dollar on Thursday after the European Central Bank refrained from tightening monetary policy, and slightly upgraded its forecast for growth this year.

During the day, although euro traded sideways below Wednesday's high of 1.3749 in Asia and briefly dropped to 1.3722 in European morning, price rebounded after data showed German factory orders came in better-than-expected in January. Later, euro moved in a volatile manner shortly after the release of ECB's rate decision but eventually rallied to a fresh two-month peak at 1.3873 in New York as ECB President Mario Draghi confirmed the latest economic data indicating that 'the moderate economic recovery in the euro zone is proceeding.'

ECB President Mario Draghi confirmed that the bank left its benchmark interest rate unchanged at 0.5%, with the latest economic data indicating that 'the moderate economic recovery in the euro zone is proceeding.' The central bank revised its forecast for economic growth in 2014 to 1.2% from 1.1% in December. The bank revised down its inflation forecast for this year to 1.0% from 1.1% in December. The bank expects inflation to pick up to 1.3% in 2015 and 1.5% in 2016, remaining below the bank's target of just under 2%. Draghi reiterated the ECB's forward guidance on rates and said that interest rates will remain at their present levels, or lower for an extended period. The ECB remains determined to maintain the high degree on accommodating monetary policy for as long as needed, and will take further actions as it sees fit.

Earlier, report showed German factory orders were up 1.2 percent over December, when adjusted for price, calendar and seasonal factors. The office also said it revised the previous month's decline of 0.5 percent to a decline of only 0.2 percent.

Cable fluctuated wildly on Thursday, as despite a brief rise above Wednesday's high of 1.6742 to 1.6753 after the Bank of England kept monetary policy unchanged in a widely anticipated decision, active cross-selling in sterling versus euro knocked price down to 1.6686 in New York morning. Later, cable rallied to session high at 1.6778 in New York afternoon before retreating to 1.6734 near New York closing.

The Bank of England voted to leave U.K. interest rates unchanged at their record low of 0.5%, and also left its quantitative easing program steady at 375 billion pounds.

Active cross-selling in Japanese yen due to increased risk appetite continued to lift usd/jpy pair higher on Thursday. Dollar rose from Australian low at 102.27 to 102.81 in European morning and then further to a fresh one-month peak at 103.17 in New York morning before easing due to some profit-taking.

On the data front, the Department of Labor said the number of individuals filing for initial jobless benefits last week fell by 26,000 to 323,000 from the previous week's revised total of 349,000.

[B]Data to be release on Friday: [/B]

Japan leading index, Swiss unemployment rate, CPI, France trade balance, Italy PPI, Germany industrial production, Canada unemployment rate, labor productivity, U.S. non-farm payrolls, private payrolls, unemployment rate, trade balance, and avg. hourly earnings.

Actionable trading levels delivered LIVE to YOUR charts

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 27 May 2019
AAGB/US- Holiday
Tue 28 May 2019
A 14:00 US- Consumer Confidence
C 13:00 US- Case-Shiller
Wed 29 May 2019
A 08:55 DE- Employment
AA 18:00 US- BOC Decision
A 18:30 US- EIA Crude
Thu 30 Mar 2019
AAEZ/CH- Holiday
A 12:30 US- Weekly Jobless
Fri 31 Mar 2019
AA 10:00 EZ- Flash HICP
A 12:30 US- Personal Income, Spending, Deflator
AA 14:00 US- Final Univ of Michigan

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


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
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

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
The Amazing Trader
Forex Opportunities
Forex Affiliates
Forex CopyTrading
GVI Forex