User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday April 25, 2008 - 16:23:44 GMT
CEP News -

Share This Story:
| | Email

Midday Market Update: Weakening Consumer Sentiment Halts USD Rally

11:34 04/25 (CEP News) - The U.S. dollar has retraced sharply on Friday morning after a downward revision to consumer sentiment and sharp reversals in oil and gold prices. Fixed income markets remained lower due to selling in the overnight while stocks turned negative on the Reuters/University of Michigan consumer sentiment report.

European and Canadian stock markets resisted the downbeat news in the United States and are higher across the board with Toronto's S&P TSX composite index up 72.86 points to 14039.19, the Eurostoxx up 36.89 points to 3203.18, the UK FTSE 100 up 35.00 points to 6085.70 and the German DAX up 62.60 points to 6883.92.

Meanwhile, the Dow Jones Industrial Average is down 99.33 points to 12749.62, the S&P 500 is down 7.90 points to 1380.92 and the NASDAQ is down 35.00 points to 2393.92.

The greenback had received a boost in the overnight as traders began aligning themselves for an expected 25bp rate cut from the Fed on Wednesday, which market participants now expect to be followed by a pause.

"The dollar rebound becomes a more established theme as markets gear up for an anticipated change in the Fed’s monetary policy stance," said Ashraf Laidi, chief FX strategist at CMC Markets. "Such a change may take the form of a return to 'data watch' stance by the Fed before judging the need for further rate cuts, or temper the extent of the rate cuts from 50 bps to 25 bps increments."

However, the U.S. dollar's strength was short-lived as an unexpected downward revision to the Michigan consumer sentiment index to 62.6 from 63.2 sparked a sell-off in the greenback and pushed stocks into negative territory.

The Canadian dollar was unchanged at 0.9862 against the USD (1.01454 USD/CAD) and up 0.10 cents to 1.5891 (0.6293 CAD/EUR) against the euro.

The U.S. dollar was down 0.25 to 104.00 against the yen and the euro was down 0.20 cents to 1.56623 against the U.S. dollar.

In the UK, the pound sterling received a boost from inline GDP figures from the UK, being one of the few currencies which stood up to the greenback in the overnight. Currently, it is up 1.20 cents to 1.9858 USD.

The Australian dollar was lower by 0.50 cents to 0.9346 USD.

The U.S. Dollar Index was up 0.008 points to 72.543.

In addition, global supply concerns from further violence in Nigeria reversed recent selling in oil, bringing prices above the $119 a barrel mark.

Futures on WTI crude oil are up $3.11 to $119.17 while gold futures at the Chicago Board of Trade are up $4.60 to $894.10.

Global fixed income markets had been under pressure on Thursday evening after a stronger-than-expected CPI report in Japan sparked a sharp sell-off in bonds. However, North American fixed income began turning around as traders hit their desks at 8 a.m.

Yields on two-year Canadian government bonds were up 4.2 bps to 2.92%, five-year yields up 4.1 bps to 3.24%, 10-year yields up 2.7 bps to 3.75% and 30-year yields up 1.9 bps to 4.21%.

U.S. two-year yields were down 0.8 bps to 2.37%, five-year yields were up 5.1 bps to 3.14%, 10-year yields were up 1.2 bps to 3.84% and 30-year yields were up 1.2 bps to 4.56%.

The Eurodollar June 08 contract was down 1.5 ticks to 97.13. The 10/2 year spread widened 1.62 bps to 148.02.

The spread between the U.S. 10-year note and the Canadian 10-year CGB widened 9.03 bps to 9.09 bps.

In Germany, returns on two-year German Bunds were down 2.4 bps to 3.85%, five-year yields were down 1.8 bps to 3.92%, 10-year yields were down 0.9 bps to 4.17% and 30-year yields were down 1.1 bps to 4.70%.

Yields on UK two-year bonds were up 2.7 bps to 4.56%, five-year yields were up 1.5 bps to 4.53%, 10-year yields were up 0.7 bps to 4.78% and 30-year yields were down 2.4 bps to 4.57%.

All data taken at 11:28 a.m. EDT

By Erik Kevin Franco, [email protected], edited by Nancy Girgis, [email protected]

(END) ©CEP Newswires - ©CEP News Ltd. 2008. All Rights Reserved.


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 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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