User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday June 13, 2008 - 09:35:07 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar bolstered by rate outlook, G8 eyed

Fri Jun 13, 2008 5:19am EDT

* Dlr index on course for best week in 3 yrs ahead of G8

* Euro pressured as officials temper rate hike expectations

* All eyes on G8 ministers for clues on FX policy

(Changes dateline, byline, adds quotes, updates prices)

By Simon Falushi

LONDON, June 13 (Reuters) - The dollar rose against the euro and the yen on Friday, and was on track for its best week in over three years against a basket of currencies as investors focused on a weekend meeting of G8 finance ministers.

The U.S. currency benefitted this week as the government and Federal Reserve took aim at inflation and its impact on the dollar, raising the prospect of dollar-buying intervention. A further boost came on Thursday as U.S. retail sales data surprised on the upside. Click on [ID:nN11255522].

The U.S. currency could derive further support if U.S. Treasury Secretary Henry Paulson and other finance ministers attending a Group of Eight finance ministers meeting in Japan issue dollar-supportive comments.

"If the tone of (the G8) statement is unchanged from the last meeting when coordinated action was mentioned, this would give more support to the dollar," said Michael Klawitter, currency strategist at Dresdner Kleinwort in Frankfurt.

(For ANALYSIS on implications of the G8 meeting on the currencies, click on [ID:nT167228].)

However Bank of Japan Governor Masaaki Shirakawa said governments should not single out the impact on forex when guiding policy [ID:nTKF003210].

The euro has lost around four cents against the dollar since Monday as European Central Bank board members dampened expectations for a series of rate hikes after flagging a rise in July.

By 0852 GMT, the euro was down 0.3 percent at $1.5394 <EUR=>. The dollar index was up 0.2 percent at 73.959, up more than 2 percent on the week and heading for its biggest weekly gain since spring 2005 .DXY.

The dollar also edged up to 108.14 yen, its highest in nearly four months. For the week, the dollar is up 3 percent against the yen, poised for its biggest weekly gain in four years.

The Bank of Japan kept interest rates steady at 0.5 percent on Friday, as widely expected. Market players were also closely watching the outcome of Ireland's referendum on the European Union reform treaty, with results expected on Friday.

The rejection of the EU constitution by France and the Netherlands in 2005 was one factor behind the euro's fall that year. But analysts are divided on whether the Irish vote will have much of an impact on the single currency this time.


G8 finance ministers will focus on the global economy and soaring oil and food prices and while currencies are not expected to be the chief topic of conversation, ministers are bound to discuss the impact of rampant oil on the dollar.

The euro dipped briefly after French Economy Minister Christine Lagarde said on arriving in Japan that the recent strengthening of the dollar was "satisfying" and that currencies will be discussed, according to media reports. [ID:nT284996]

Japanese Finance Minister Fukushiro Nukaga said he had discussed currencies with U.S. Treasury Secretary Paulson.

Paulson said earlier in the week he would never rule out currency intervention as a potential policy tool to stem the dollar's slide, giving the U.S. currency a boost.

His comments came after Fed Chairman Ben Bernanke last week surprised the market with a rare warning that a weak dollar was adding to price pressures, signalling to investors a shift in Washington's view on the dollar.

Market players will look to the language of the communique published at the end of the G8 meeting to gauge the likelihood of any action from central banks.

"We believe that there could be stronger language on FX in the communique but it is likely to stop short of indicating that intervention is likely, which could still be enough to boost the dollar," said Calyon in a note to clients.

Investors will look to U.S. CPI data at 1230 GMT for more clues on monetary policy outlook. Annual inflation is expected to hold at 3.9 percent in May. (Editing by Gerrard Raven)

© 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.


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