User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 20, 2008 - 22:05:49 GMT
Reuters -

Share This Story:
| | Email

Forex Market news - Canadian dollar boosted by record oil prices

Tue May 20, 2008 5:34pm EDT
 * Canadian dollar supported by record oil prices
 * Room seen for the Canadian dollar to rise further
 * Bonds rise with U.S. Treasuries
 By John McCrank
 TORONTO, May 20 (Reuters) - The Canadian dollar gained 0.8
percent against the U.S. dollar on Tuesday, as record high oil
prices supported the commodity-linked currency.
 Domestic bond prices followed the U.S. market higher.
 The Canadian dollar closed at US$1.0082, valuing a U.S.
dollar at 99.18 Canadian cents. That was up from US$1.0002,
valuing a U.S. dollar at 99.98 Canadian cents, at Friday's
close. Canadian markets were closed on Monday for the Victoria
Day holiday.
 The Canadian dollar rose to US$1.0128 during the overseas
session, making a greenback worth 98.74. That marked the
currency's highest level since March 17, but a slide by U.S.
equities stopped its progress.
 "With the Dow off so much today, we lost some of our
momentum, but I do feel that Canada is going to continue to be
a bit of an outperformer, in the short run, anyway," said Steve
Butler, senior currency strategist at Scotia Capital.
 Canada sells around three-quarters of its exports to the
United States and concerns are that the U.S. economic downturn
may not have hit bottom yet, which could mean more pain for the
Canadian economy.
 But while the Dow Jones industrial average .DJI dropped
nearly 200 points on worries about U.S. inflation, stoked by
record oil prices near $130 a barrel, the situation in Canada
is different.
 Canada is a major oil exporter, and the strong Canadian
dollar, which rose about 17.5 percent last year, has helped
keep domestic inflation under control.
 Strong commodity prices and a relatively stable economic
environment helped the Toronto Stock Exchange composite index
.GSPTSE gain over 60 points on Tuesday to close at a record
high above 15,000 points.
 So there is room for the Canadian dollar to rise, said
 However, the currency may see some weakness as it gets
closer to the US$1.03 level, which has been the top end of the
range it has been trapped in since late November.
 "I do think there are a lot of people who are going to be
concerned holding Canadian dollars at that level," said
 "But the way oil is going and the way gold has bounced so
nicely and the way the TSX is performing, it's just a matter of
time before we see another push up for the Canadian dollar."
  Domestic data showed wholesale trade rose 0.6 percent in
March, which was better than the 0.4 percent that analysts
surveyed by Reuters had forecast.
 Another report showed foreign investors bought C$5.3
billion worth of Canadian securities in March, while Canadians
divested C$3.3 billion worth of foreign securities in the same
 Upcoming financial reports include April inflation data and
April leading indicators on Wednesday, and the March retail
sales report on Thursday.
 Bond prices cued off the larger U.S. market, which rallied
on a flight to safety, given the retreat by U.S. equities.
 Canadian bonds will likely continue to receive direction
from U.S. Treasuries, at least until the Canadian retail sales
report on Thursday, said Mark Chandler, fixed income strategist
at RBC Capital Markets.
 "We do have a two-year auction tomorrow and the CPI, but we
don't look for the CPI to be very strong, so it shouldn't be
much of a hurdle for bond markets really," he said.
 Bank of Canada Governor Mark Carney is scheduled to give a
speech on "Principles for Liquid Markets" in New York on
Thursday to the New York Association for Business Economics.
His speech will be followed by a news conference.
 The two-year bond rose 7 Canadian cents to C$101.93 to
yield 2.767 percent. The 10-year rose 45 Canadian cents to
C$103.70 to yield 3.517 percent.
 The yield spread between the two- and 10-year bonds was
75.0 basis points, down from 77.7 at the previous close.
 The 30-year bond increased 32 Canadian cents to C$116.61
for a yield of 4.024 percent. In the United States, the 30-year
treasury yielded 4.533 percent.
 The three-month when-issued T-bill yielded 2.62 percent, up
from 2.61 percent at the previous close.

© Thomson Reuters 2008. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.


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