User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday December 2, 2008 - 22:05:09 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar, yen fall versus euro as stocks rebound

Tue Dec 2, 2008 4:48pm EST

* Dollar, yen falls versus euro as equities rebound

* Stock markets end higher in choppy trade

* RBA slashes rates, ECB, BOE to cut later this week

* For up-to-the-minute market news, click on FXNEWS (Updates prices, adds quotes, changes byline)

By Wanfeng Zhou

NEW YORK, Dec 2 (Reuters) - The U.S. dollar and the yen fell against the euro on Tuesday as a stock market rebound reduced demand for safe havens.

Shares on Wall Street rose sharply in the last hour of trading after Monday's sell-off. The foreign-exchange market has closely eyed equity performance for direction in recent weeks, with rising stocks boosting risk appetite and hurting demand for the U.S. and Japanese currencies.

Overall, moves in major currencies were modest, with investors cautious ahead of monetary policy decisions from the European Central Bank and the Bank of England later in the week. Both are expected to slash rates aggressively to spur growth.

"The market is in a little bit of a wait-and-see mode," said Stephen Malyon, senior currency strategist at Scotia Capital in Toronto. "We have a lot of event risk later this week with various central bank decisions and (U.S.) nonfarm payrolls on Friday.

In late trading in New York, the euro rose 0.7 percent against the dollar to $1.2714 <EUR=> and gained 0.9 percent versus the yen to 118.66 <EURJPY=>.

The dollar <JPY=> was up 0.2 percent against the yen at 93.34. It fell as low as 92.64 yen earlier, the lowest since Oct. 28, according to Reuters data.

The dollar and the yen have found support in recent months as investors reduced exposure to riskier assets. U.S.-based investors have also moved funds back to their domestic market, further boosting the greenback.

Despite Tuesday's pullback, those factors are set to continue to benefit the two currencies, analysts said.

"We're likely to remain in trading ranges with perhaps a bit of a bias for further strength in both of those currencies," Malyon said. "We're going to have a pretty nervous financial market and news on the economy is likely to remain quite downbeat. That's going to keep some pressure on equities."


An unexpectedly bold 100 basis-point rate cut from the Reserve Bank of Australia kept the Australian dollar under pressure early in the trading day, although the currency recovered with the rise in stocks.

The Australian dollar rose 0.8 percent versus the greenback to US$0.6451 <AUD=>.

The RBA's move raised expectations other central banks may follow suit with aggressive easing in Britain and the euro zone to revive their flagging economies. Such cuts could lend some further support to the dollar by dimming the appeal of those higher-yielding currencies.

The European Central Bank is seen cutting rates on Thursday by at least 50 basis points, from 3.25 percent, and possibly more.

Currency strategists at Citigroup cautioned that with investors already discounting a sharp drop in euro zone rates, the potential for disappointment is rising. The firm recommended investors short euro positions going into the ECB decision. A short position is a bet that prices will fall.

"The build-up of expectations for more aggressive action may be contributing to the somewhat more positive tone from 'risky' assets and euro today, but this latest in a series of spurts is no more sustainable than the last," the firm wrote in a research note.

Sterling rose 0.2 percent to $1.4905 <GBP=> despite the view that the Bank of England will slash rates by as much as 100 basis points on Thursday, one month after chopping them by 150 basis points, to 3.0 percent. (Additional reporting by Gertrude Chavez-Dreyfuss; Editing by Dan Grebler)

© 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