User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday February 3, 2009 - 21:35:11 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar tumbles on better housing data, rising stocks

Tue Feb 3, 2009 4:21pm EST

* Dollar falls vs basket after jump in housing data

* Stabilizing stocks erode safe-haven bid for US dollar

* Aussie dollar soars after RBA cuts rates 100 bps (Recasts, adds comments, updates prices, changes byline)

By Wanfeng Zhou

NEW YORK, Feb 3 (Reuters) - The dollar fell versus a basket of currencies on Tuesday after an unexpected jump in U.S. pending home sales and fresh stimulative measures by central banks worldwide eroded safe-haven flows into the greenback.

The currency market continued to take its cue from equity trading. U.S. stocks extended their advance in afternoon trading, boosting risk sentiment and easing demand for the dollar and the yen, which are seen as safer places to park money in times of stress.

"I'm seeing a stabilization in the equity markets and it has to do with the much better-than-expected pending home sales," said Andrew Busch, global FX strategist at BMO Capital Markets in Chicago. "This is consistent with what we saw with existing home sales and it comes on the heels of a better-than-expected ISM manufacturing number yesterday."

"If we have a stabilization in the equity markets, then the fear that caused people to buy U.S. dollars as a safe-haven goes away."

In late trading in New York, the ICE Futures U.S. dollar index, which tracks the value of the greenback against a basket of currencies, fell 1.4 percent to 84.872 .DXY.

U.S. stock indexes also got a lift, pressuring the dollar after news that a group of Republican senators offered a $445 billion alternative plan to boost the economy.

An announcement by the Bank of Japan of a plan to buy up to 1 trillion yen ($11 billion) in listed shares held by Japanese banks and a deep interest rate cut in Australia also helped boost sentiment earlier, analysts said. See [ID:nTKF004285].

The euro was last up 1.5 percent versus the dollar <EUR=> at $1.3038, after rising as high as $1.3056, according to Reuters data. The dollar fell 0.2 percent to 89.29 yen <JPY=>.

"Euro/dollar has been trading on the back of risk aversion and sentiment in the past couple of days. Any news that brings risk aversion lower and helps lift stocks at this point will hurt the dollar," said Matt Esteve, a foreign exchange trader at Tempus Consulting in Washington.

Esteve said the euro could trade as high as $1.3250 in coming weeks.


Pending sales of existing U.S. homes rebounded in December as buyers took advantage of lower prices and mortgage interest rates. The National Association of Realtors Pending Home Sales Index surged 6.3 percent in December. [ID:nN03510959]

The housing report "is a real shot in the arm for (risk) sentiment," said Brian Dolan, chief currency strategist at, in Bedminster, New Jersey. "In an otherwise bleak landscape, this represents a ray of hope."

But gains in the euro were limited as many in the market stayed sidelined before the European Central Bank's rate decision on Thursday when it is widely expected to leave interest rates on hold at 2 percent.

Figures on Tuesday showed euro zone producer prices fell a bigger-than-expected 1.3 percent, while German retail sales unexpectedly fell for a third straight month in December.

Lingering concerns also remain about the fiscal health of economies on the fringes of the euro zone.

In other trading, the Australian dollar soared after the Reserve Bank of Australia cut interest rates by 100 basis points to a record low 3.25 percent [ID:nSYD103714]. The Australian government also unveiled a $26.5 billion second stimulus package on Tuesday. [ID:nSP247627].

The Australian dollar rose by 3.4 percent against its U.S. counterpart to $0.6528 <AUD=>. An improvement in risk sentiment also helped lift the higher-yielding New Zealand dollar, which rose 1.8 percent to $0.5137 <NZD=>.

(Additional reporting by Vivianne Rodrigues and Steven C. Johnson; Editing by Diane Craft)

© 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