User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday October 20, 2008 - 21:29:51 GMT
Reuters -

Share This Story:
| | Email

Forex Market News - Canadian dollar ends down ahead of likely rate cut


Mon Oct 20, 2008 4:28pm EDT
 * Canadian wholesale trade falls more than expected
 * Focus on Tuesday's Bank of Canada rate announcement
 * Short-end bond prices up ahead of rate announcement
 By Frank Pingue
 TORONTO, Oct 20 (Reuters) - The Canadian dollar fell versus
the U.S. dollar on Monday as a looming Bank of Canada rate cut
on Tuesday coupled with comments from Federal Reserve Chairman
Ben Bernanke to shake the currency off its early gains.
 Canadian bond prices closed higher across the curve after
data showed wholesale trade dropped more than expected in
August, but the gains were contained due to a rally on North
American equity markets.
 The Canadian dollar closed at C$1.1937 to the U.S. dollar,
or 83.77 U.S. cents, down from C$1.1869 to the U.S. dollar, or
84.25 U.S. cents, at Friday's close.
 The U.S. dollar rallied around comments Bernanke made to
Congress, where he endorsed another stimulus plan for the
sluggish U.S. economy, which would ultimately reduce pressure
on monetary policy to provide stimulus for the economy.
 Another drag on the Canadian currency was uncertainty as to
the size of the widely expected Bank of Canada rate cut, with
most of Canada's primary securities dealers expecting either a
25-basis-point cut or a 50-basis-point cut to the key rate.
 "I guess (Bernanke's) encouragement of another fiscal
stimulus package is supporting supporting the greenback," said
Sal Guatieri, senior economist at BMO Capital Markets.
 "And I guess there is some uncertainty about whether the
bank will go a full 50 basis points instead of just 25, so that
could be weighing on the (Canadian) currency as well."
 During the overnight session, the Canadian currency had
rallied to C$1.1740 to the U.S. dollar, or 85.18 U.S. cents, a
move credited largely with a rally in the price of oil, which
is a key Canadian export.
 But the gains made from Friday's close vanished early in
the North American session, and further significant moves were
not expected until after the Bank of Canada makes its scheduled
rate announcement Tuesday at 9:00 a.m. (1300 GMT).
 The bank's key rate is 2.50 percent after its unexpected
50-basis-point cut on Oct. 8 in a coordinated move with other
central banks to help calm ailing financial markets.
 Canadian bond prices moved higher across the both the short
and long end of the curve, garnering interest mostly after
Canadian wholesale trade data showed a steeper-than-expected
1.5 percent drop in August from July.
 Uncertainty heading into the Bank of Canada's Tuesday rate
decision, which will be accompanied by a statement that could
shed light on the bank's economic outlook, also helped whet
dealer's appetites for bonds,
 "Another thing that's probably boosting bonds is the
speculation the bank will go 50 (basis) points," said Guatieri.
"But if they just go 25 (basis points) as we anticipate, that
would hurt the bond market."
 The two-year bond was rose 15 Canadian cents to C$101.13 to
yield 2.198 percent. The 10-year bond increased 7 Canadian
cents to C$104.27 to yield 3.716 percent.
 The yield spread between the two-year and the 10-year bond
moved to 157 basis points from 123 basis points at the previous
 The 30-year bond rose 25 Canadian cents to C$112.85 to
yield 4.221 percent. In the United States, the 30-year Treasury
yielded 4.243 percent.
 (Editing by Peter Galloway)

© 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 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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