User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday April 7, 2008 - 22:57:15 GMT

Share This Story:
| | Email

Forex Research - Will it be a Good Week for the US Dollar?

Monday, 07 April 2008 21:47:52 GMT

Written by Kathy Lien, Chief Strategist

• What is ECB Officials Saying Ahead of the Central Bank Meeting?
• British Pound Slips On Housing Market Concerns

Will it be a Good Week for the US Dollar?
No news can be good news for the currency market and this certainly seems to be the case for the US dollar which has rallied on little economic data. Consumer credit was the only number released and it came out slightly weaker than expected, which should have been dollar negative, but consumer credit almost never moves markets. Instead, the dollar is rallying because risk aversion is subsiding. This shift in sentiment is confirmed by the rebound that we are also seeing in the Australian and New Zealand dollars. The hope that equity market deal flow is returning with Discover Financial Services snapping up Diners Club and financing becoming more readily available as Washington Mutual receives a $5 billion cash infusion from investors has helped to restore some confidence in the financial markets. Whether this is enough to offset the deterioration in the labor market remains to be seen, but at least for the time being, hope is driving the US dollar higher. With non-farm payrolls behind us, no economic data poses a major threat to the US dollar this week, which is why it could continue to recover. Pending home sales and the FOMC minutes will be released tomorrow, but a weak housing market and the 75bp rate cut by the Fed is almost old news at this point. Since the March 18 monetary policy meeting, the equity markets have stabilized and credit markets have eased, which means that for the time being, the Fed’s efforts have worked in preventing far more serious consequences for the US economy and financial system had they let Bear Stearns go bankrupt.

What is ECB Officials Saying Ahead of the Central Bank Meeting?

The Euro is slightly weaker against the US dollar today despite stronger economic data. German industrial production increased 0.4 percent in the month of February, offsetting the 0.5 percent drop in factory orders. Increased construction activity has helped production rise for the third consecutive month. Investor confidence has also improved with the Sentix survey increasing to 4.15 in April from 0.4 in March. Economic data is mixed ahead of the European Central Bank meeting, which gives the ECB the flexibility to either acknowledge slower growth now or continue to ignore it. According to this morning’s comments from ECB Bini Smaghi and Bonello, the central bank Governor may opt for the latter. Bini Smaghi reminded the markets that price stability is a top priority while Bonello indicated that economic fundamentals in the Eurozone are still sound. The ECB meeting is the biggest event risk this week and we may not see much action in the EUR/USD before the monetary policy meeting. Meanwhile the Swiss franc has barely reacted to the employment report which improved slightly on a non seasonally adjusted basis. This may be partly due to the fact that the central bank governor for Switzerland was on the wires this morning talking down inflationary pressures. He indicated that the strength of the franc against the US dollar should keep prices in check. The SNB is widely expected to cut interest rates later this year.

Visit the Euro Currency Room for resources dedicated specifically to the Euro.

British Pound Slips on Housing Market Concerns
The British pound continues to be weighed by housing market concerns. Although Halifax, the nation’s largest mortgage lender has yet to reject new mortgage applications, they have started to preference customers willing to put down a larger deposit on home loans. More specifically, they are offering a lower interest rate to people who can make a down payment of 25% or more on their home and hiking the rates for people who borrow more than 75%. This will reduce the ability of UK citizens to finance the purchase of new homes, which would exacerbate the problems in the housing market and slow any eventual recovery. Meanwhile the Bank of England is the only central bank expected to alter interest rates this week. If consumer confidence also proves to be weak, this will build the case for a 25bp rate cut.

Visit the British Pound Currency Room for resources dedicated specifically to the British Pound.

Australian and New Zealand Dollars Extend Gains, Canadian Dollar Retreats Further
US Dollar continued its loss against the New Zealand dollar and Australian Dollar, but gained momentum against the Canadian Dollar, with the kiwi reporting the biggest gain against the greenback. Although, no data was released for New Zealand, its gain can be attributed to an overall improvement in risk appetite. The Australian dollar on the other hand rallied despite weaker economic data. The trade balance was much wider than expected, led by a sharp drop in exports while construction sector PMI fell into contractionary levels. The Canadian dollar extended its losses as building permits slipped for the fourth consecutive month, marking the worst bout of releases since 1990. This suggests similar weakness in tomorrow’s housing starts report. The once invincible economy, which boasted of remaining strong in spite of its neighbor’s loss, is now under pressure as the US slowdown is slowly spilling into the economy.

Tell us what you think on the Canadian dollar Forum.

Japanese Data Improves But Has Limited Impact on the Yen
Japanese economic data is beginning to improve, but this is having a minimal impact of the Japanese Yen. Leading indicators rose from 36.4 percent to 50 percent and we expect this strength to pass over to the Eco Watchers Survey, which is due for release this evening. Labor cash earnings have been on the rise, which should help to boost consumer confidence. Meanwhile the Japanese government is coming closer to announcing a new Bank of Japan Governor. The latest nominee is Shirakawa, the current acting Governor. There is a decent chance that he will be approved by the Liberal Democratic Party and the Democratic Party of Japan. In the past Shirakawa has been seen as a hawk on monetary policy, but economic conditions have changed significantly and as a result, it is not clear whether he will be willing to cut interest rates.

 Visit the Japanese Yen Currency Room for resources dedicated specifically to the Yen.




By Kathy Lien, Chief Strategist of

Contact Kathy Lien about this article at [email protected]



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