User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday February 9, 2009 - 21:58:49 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX NEWS-Dollar slips, investors look to US bank bailout

Mon Feb 9, 2009 4:45pm EST

* U.S. financial stability plan to be outlined on Tuesday

* U.S. dollar slips, bank package uncertainty

* Euro hits nearly two-week high vs dollar

(Recasts, updates prices)

By Nick Olivari

NEW YORK, Feb 9 (Reuters) - The dollar slipped broadly on Monday as investors focused on the expected positive impacts of a U.S. bank bailout package on the global economy, weakening some of the safe-haven bid for the U.S. currency.

Mostly ignoring a delay in the announcement of the plan, investors boosted the higher-yielding Australian and New Zealand dollars on rising risk appetite.

"One of the things that has been driving the dollar was fear and lack of risk appetite," said Joseph Trevisani, chief market analyst at FX Solutions in Saddle River, New Jersey. "So if the financial bailout package gives people confidence the financial system problems are behind us, they will be more disposed to take foreign currency risk and that will lead away from the dollar."

Late afternoon in New York, the euro was up 0.6 percent percent at $1.3014 <EUR=>. It earlier rose to a high of $1.3093, its strongest level since Jan. 29.

The dollar was down 0.6 percent against the yen at 91.46 <JPY=>, though well off a session low of 90.90. The euro was little changed against the yen at 119.02 yen <EURJPY=>, recovering from an earlier session low of around 117.07 yen but failing to hold the session peak at 120.01 yen.

The Australian dollar rose 0.7 percent versus the greenback to US$0.6803 <AUD=>, while the New Zealand currency surged 1.4 percent against the U.S. unit to US$0.5391 <NZD=>.

President Barack Obama's administration delayed announcement of the bank rescue plan, which had been scheduled for Monday, until Tuesday as the new administration pressed lawmakers to settle their differences over a giant economic stimulus plan in Congress.

A crucial procedural vote on the $827 billion stimulus package by the Senate was expected later on Monday, with a final vote on the legislation likely on Tuesday. That will set the stage for fierce wrangling as negotiators try to reconcile it with an $819 billion House of Representatives version passed earlier without any Republican support. [ID:nN09513209].

Over the last few months the dollar has gained in the face of bleak U.S. economic news, with investors buying the currency on the view the U.S. government was the most aggressive among industrialized nations in tackling the credit crisis. That should help the U.S. economy emerge from recession quickly and provide underlying support to the dollar, analysts and investors say.

DISCONCERTED

To be sure, some investors were disconcerted by Monday's delay in the announcement of the financial rescue plan. U.S. Treasury officials were expected to brief congressional committee staffers on the plan on Monday evening, with Treasury Secretary Timothy Geithner, scheduled to outline it publicly at 11 a.m. (1600 GMT) on Tuesday.

They said the delay undermined the dollar because they viewed the bailout package as specific to the United States and any obstacle or evidence of political wrangling would be negative for the U.S. economy and ultimately the dollar.

But analysts said most investors seemed to be looking past the delay and anticipating the details of the bank rescue package and the Senate's vote on the stimulus plan this week.

"Ultimately, that package is going to pass, and I think the markets are anticipating a significant announcement and so the tenor in the FX market is the unwinding of some risk-aversion," said Matthew Strauss, senior currency strategist at RBC capital Markets in Toronto.

Sterling rose 0.7 percent to $1.4907 <GBP=> after UK bank Barclays Plc (BARC.L: Quote, Profile, Research, Stock Buzz) earlier booked a bigger-than-expected annual profit of over 6 billion pounds and said credit market losses were waning. The pound earlier hit a high of $1.4984, a nearly one-month high, according to Reuters data.

With little on the economic calendar on Monday, market focus stayed firmly on Congress, which divided along party lines on the economic stimulus and bank bailout plans. (Reporting by Nick Olivari and Gertrude Chavez-Dreyfuss; Editing by Kenneth Barry)

© 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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

Global-View.com 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 Global-View.com. 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.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105