User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday December 31, 2008 - 22:01:40 GMT
Reuters -

Share This Story:
| | Email

Forex Market News - CANADA FX DEBT-C$ ends up, but posts big drop in tough 2008

Wed Dec 31, 2008 4:34pm EST
 * Canadian dollar rises 0.2 percent with stocks, oil
 * Suffers worst yearly drop vs U.S. dollar in decades
 * Bond prices slip in light activity
(Adds Bank of Canada official closing rate, updates 2008 drop
against U.S. dollar)
 By Lynne Olver
 TORONTO, Dec 31 (Reuters) - The Canadian dollar closed
slightly higher against the U.S. currency on Wednesday in
subdued pre-holiday trading, ending a volatile year on an up
note as market participants shifted their focus to 2009.
 For the full year, the Canadian dollar posted its worst
annual drop in more than half a century as plunging commodity
prices in the second half of 2008 took their toll. But the
decline came on the heels of an unusually strong 2007
performance against the greenback.
 Government bond prices closed lower on Wednesday but made
solid gains in 2008 as investors around the world shunned risk.
The bond market shut early ahead of the New Year's Day
 The Canadian currency ended at C$1.2180 to the U.S. dollar,
or 82.10 U.S. cents, after a swift afternoon increase in crude
oil prices lifted Canadian stocks. That was up from Tuesday's
close of C$1.2210 to the U.S. dollar, or 81.90 U.S. cents.
 With many market players still away for the holidays,
corporate flows drove most activity this week, traders and
strategists said.
 "In essence, we're just executing business that has to be
done before the month-end," said Shaun Osborne, chief currency
strategist at TD Securities in Toronto.
 By early afternoon, already-light flows had dwindled to a
 "I think most market participants on the corporate side
have started vacating their offices," said Dave Bradley,
director of foreign exchange trading at Scotia Capital in
 For the year, the Canadian dollar slumped 18.6 percent, its
worst annual showing against the U.S. dollar since at least
1950, although it did rise against other currencies.
 Several analysts said further weakness is probably in store
for the currency in 2009's first quarter, given that a global
recession should hurt demand and prices for commodities. These
swings tend to affect the Canadian dollar due to the country's
hefty energy and materials exports.
 But Osborne said he anticipates a broad-based decline in
the U.S. dollar next year. In his view, U.S. short-term
interest rates near zero, the recession, a U.S. budget deficit
and non-conventional monetary policy will weigh on the
greenback, possibly lifting the Canadian currency to C$1.15 to
the U.S. dollar by year-end.
 The Canadian dollar was worth slightly more than its U.S.
counterpart at the start of 2008, after jumping 17.6 percent in
2007. But in the second half of 2008, credit markets worsened,
U.S. financial companies melted down, a global recession loomed
and commodity prices fell, taking the shine off the currency.
 Still, the Canadian dollar outperformed sterling plus the
Australian and New Zealand currencies, Osborne noted.
 Several events in January could influence the market,
including the Bank of Canada's interest rate decision on Jan.
20 and a federal budget on Jan. 27 that should contain an
economic stimulus package.
 Domestic bond prices slipped in light trade, in tandem with
the U.S. Treasury market, capping a strong year for
government-backed bonds.
 "It has been a theme of flight to quality and flight away
from distressed assets," said Levente Mady, a broker at MF
Global in Vancouver, British Columbia, who specializes in
fixed-income investments.
 "The weaker the credit, the worse beating it took" in 2008,
he added.
 But because price gains have pushed government bond yields
lower and lower, Mady is recommending that clients move into
higher-yielding products such as provincial government bonds
and select blue-chip corporate bonds.
 The two-year Canada bond closed down 4 Canadian cents at
C$103.10 to yield 1.100 percent. The 10-year bond eased 25
Canadian cents to C$112.90, yielding 2.688 percent.
 The yield spread between the two-year and 10-year bond was
159 basis points, versus 158 at the previous close.
 The 30-year bond was down 95 Canadian cents at C$127.70 and
its yield was 3.460 percent. In the United States, the 30-year
treasury yielded 2.695 percent.
(Reporting by Lynne Olver; editing by Rob Wilson)

© 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 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 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