User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday February 11, 2008 - 22:13:16 GMT
Reuters -

Share This Story:
| | Email

Forex Market News - Dollar falls as rate cut comments linger

Mon Feb 11, 2008 4:52pm EST

By Frank Pingue

TORONTO (Reuters) - The Canadian dollar ended lower against the U.S. dollar on Monday in a lackluster session in which investors reflected on weekend Bank of Canada comments that suggested more interest rate cuts are on the way.

Domestic bond prices held on to finish higher across the curve as concerns about a U.S. recession trumped a turnaround in North American equity markets.

The Canadian dollar closed at C$1.0015 to the U.S. dollar, or 99.85 U.S. cents, down from US$1.0002, which valued a U.S. dollar at 99.98 Canadian cents, at Friday's close.

Comments from Bank of Canada Governor Mark Carney over the weekend, which suggested more rate cuts were likely needed, were enough to weigh on the currency given the lack of any key domestic data to sway financial markets.

Carney said the timing and degree of any rate cuts will be determined at future fixed announcement dates, which leaves the door open for a bolder 50 basis point cut when the central bank next sets interest rates on March 4.

"I personally took the remarks to be mildly dovish," said Doug Porter, deputy chief economist at BMO Capital Markets. "And if you read between the lines you could see he was leaving the door slightly ajar to a more aggressive move."

The Canadian dollar, which spent the session wedged in a range of C$1.0035, or 99.65 U.S. cents, and US$1.0015, valuing a U.S. dollar at 99.85 Canadian cents, barely budged after news that the minority Conservative government will present its next federal budget on February 26.

If the budget is not passed, the government will fall and there will be a federal election. However, that is not expected to rattle the currency as polls suggest another minority government would likely be the result.

The Canadian dollar has been bounced around, given the benefit of a 1 percent Canada-U.S. interest rate gap and the drawback of commodity prices that have eased from record highs reached earlier this year.

The Canadian dollar tumbled 4.5 percent in the first three weeks of 2008, but has since clawed its way back and is roughly where it started, around parity with the greenback.

"The currency is still dealing with that duel impact of potentially weaker commodity prices and widening Canada-U.S. spreads," said Porter. "So far, those two forces have fought to a draw in 2008."


Canadian bond prices managed to grind out a minor gain alongside a rally in the bigger U.S. Treasury market as dealers shrugged off a rebound in equity markets and focused more on nagging U.S. recession concerns.

"The market is still focused squarely on U.S. recession risks and what that might mean for a variety of debt markets," said Porter.

The latest piece of Canadian data showed the price of new homes rose by 0.1 percent in December from November, which was shy of estimates calling for a gain of 0.3 percent.

The two-year bond rose 3 Canadian cents to C$102.07 to yield 3.055 percent. The 10-year bond increased 24 Canadian cents to C$101.62 to yield 3.791 percent.

The yield spread between the two- and 10-year bond was 73.6 basis points, down from 74.6 at the previous close.

The 30-year bond rose 44 Canadian cents to C$114.02 to yield 4.166 percent. In the United States, the 30-year treasury yielded 4.403 percent.

The three-month when-issued T-bill yielded 3.25 percent, down from 3.28 percent at the previous close.

© Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.


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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim 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