User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday April 2, 2008 - 11:15:07 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar holds gains on sunnier financial outlook

Wed Apr 2, 2008 4:52am EDT

By Naomi Tajitsu

LONDON, April 2 (Reuters) - The dollar was little changed on Wednesday, holding gains made the previous session as traders saw news that some struggling financial firms had shored up their balance sheets as a sign the worst of the global credit crisis may be over. The U.S. currency followed a climb in share prices around the world after Lehman Brothers Holdings (LEH.N: Quote, Profile, Research) raised $4 billion of capital on Tuesday, quelling some speculation that the investment bank may be in trouble. [nN01215030]

Other banks continue to suffer, with UBS and Deutsche Bank together taking a $23 billion hit on their risky assets, but some investors took this as a sign that struggling firms are beginning to shape up.

This prompted a slight return of risk appetite, leading some traders to buy the dollar. "There's a growing sense of optimism in the market, rightly or wrongly, that the worst of the financial crisis is over ... and that's raising the market's risk appetite," said Adam Cole, global head of forex currency strategy at RBC Capital Markets.

The euro slipped as low as $1.5535 <EUR=> early in the European session, pulling further away from a record high of $1.5905 hit last month. At 0912 GMT, it traded at $1.5610, little changed on the day.

The U.S. currency traded 0.1 percent higher at 101.97 yen <JPY=>, after climbing to a three-week high around 102.30 yen earlier in the day.

The dollar has staged a slight recovery from all-time lows set against the euro in past weeks as investors had been nervous that other financial firms could go the way of Bear Stearns (BSC.N: Quote, Profile, Research), which nearly collapsed last month amid a liquidity crisis.

But a $19 billion writedown by Swiss bank UBS (UBSN.VX: Quote, Profile, Research) reinforced the view that the banks were aggressively scrubbing their books clean of soured investments tied to the weakening U.S. housing market. UBS also said it would raise $15 billion in fresh capital through a rights issue. [nL01419180]


Analysts said that the dollar was for the moment supported as fund managers sitting on piles of cash were eager to pick up shares and other assets at the start of the financial second quarter in Europe and the beginning of the fiscal year in Japan.

But some said that dollar demand would be short-lived, given that they expect crucial data on U.S. employment due later in the week will show continuing weakness in the job market, suggesting that the economy is still struggling.

This would further fuel the argument for more interest rate cuts by the Federal Reserve, which has already slashed rates by 300 basis points since autumn to 2.25 percent, its lowest since late 2004.

"The dollar may be getting a boost in the near term as money starts to get around on easing concerns about credit problems, but over the longer term, the focus will again turn to fundamentals, which will weigh on the dollar," said Osamu Takashima, chief forex analyst at Bank of Tokyo-Mitsubishi UFJ.

If employment data due on Friday shows the U.S. economy shed jobs for a third straight month in March, analysts said the dollar could fall back towards record lows against the euro and the Swiss franc.

"There won't be any question about the dollar starting to fall again after the U.S. jobs data, especially when the market is swinging between extreme pessimism and optimism," said Kengo Suzuki, a currency strategist at Shinko Securities in Tokyo.

For clues about the jobs data, investors will look to a report on private sector employment from Automatic Data Processing (ADP) due later in the day.

The ADP report is expected to show that private sector employment shrank by 48,000 jobs in March.

Also on Wednesday, Federal Reserve Chairman Ben Bernanke is scheduled to testify on the economic outlook, though analysts expect him to offer few surprises. (Additional reporting by Tokyo forex team)

(Editing by Gerrard Raven)

© 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 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