User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday August 13, 2008 - 20:55:34 GMT
Reuters -

Share This Story:
| | Email

Forex Market News - Canadian dollar rallies to eke out minor gain

Wed Aug 13, 2008 4:36pm EDT
 * Canadian dollar erases overnight loss, closes higher
 * Commodity prices credited with currency's latest rise
 * Bond prices get boost given potential for rate cuts
 By Frank Pingue
 TORONTO, Aug 13 (Reuters) - The Canadian dollar rose nearly
1 cent from its overnight low against the U.S. dollar, given a
lofty commodity price backdrop, but closed flat on Wednesday
due to the magnitude of the loss it had to overcome.
 Domestic bond prices, with no fresh Canadian data to sway
sentiment, finished lower across the curve as last week's jobs
report upped the possibility for a Bank of Canada interest rate
cut later this year.
 The Canadian dollar closed at C$1.0625 to the U.S. dollar,
or 94.12 U.S. cents, up from C$1.0628 to the U.S. dollar, or
94.09 U.S. cents, at Tuesday's close.
 While the currency was pretty much flat from the previous
close, it did rise as high as C$1.0619 to the U.S. dollar, or
94.17 U.S. cents, which was comfortably off its overnight low
of C$1.0717 to the U.S. dollar, or 93.31 U.S. cents.
 And after falling in seven straight sessions, the Canadian
dollar has now closed higher in back-to-back days for the first
time in nearly a month, and may have more winning sessions in
the near future.
 "It's probably a little bit undervalued at the moment, so
going forward in the next few weeks you can probably expect the
Canadian dollar to retrace some of the losses," said Matthew
Strauss, senior currency strategist at RBC Capital Markets.
 "But our medium-term forecast is still for the Canadian
dollar to remain weak, or even weaker than current levels."
 A string of softer than expected pieces of data in recent
weeks has been one reason why a number of economists have
lowered their forecasts for the Canadian dollar.
 On Wednesday, the rise in prices for oil, gold and many
base metals was getting credit for the currency's ability to
bounce off its earlier low since Canada is a major commodity
 With Friday's manufacturing sales data the sole domestic
report left to be released this week, it's expected the
currency will continue to be directed by further moves in
commodity prices and swings in the U.S. dollar.
 Bond prices all ended lower as investors rushed back into
stocks given the rise in commodity prices, while last week's
disappointing domestic jobs data convinced many experts the
next move by the Bank of Canada will be an interest rate cut.
 "This is one of the quietest weeks of the year for the bond
market next to around Christmas because it's a heavy vacation
period and there's not a lot of liquidity," said Sheldon Dong,
a fixed-income analyst at TD Waterhouse Private Investment.
 "But the Canadian bond market right now is pricing in a
Bank of Canada rate cut by October and it'll stand that way
until we get another piece of significant data coming out."
 Canada's economic calendar picks up next week with June
wholesale trade data on Tuesday, June retail sales data on
Wednesday and July consumer price index data on Thursday.
 The reports could offer some idea as to what the Bank of
Canada may do with interest rates at its last three scheduled
announcement dates in 2008 on Sept. 3, Oct. 21 and Dec 9.
 The two-year bond dropped 11 Canadian cents to C$101.68 to
yield 2.784 percent. The 10-year bond slipped 22 Canadian cents
to C$105.15 to yield 3.619 percent.
 The yield spread between the two-year and 10-year bond was
83.5 basis points, down from 107 basis points at the previous
 The 30-year bond fell 9 Canadian cents to C$116.31 for a
yield of 4.036 percent. In the United States, the 30-year
treasury yielded 4.573 percent.
 The three-month when-issued T-bill yielded 2.49 percent,
down from 2.50 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.


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