User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday March 4, 2009 - 21:16:49 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar climbs vs yen, buoyed by China optimism

Wed Mar 4, 2009 4:12pm EST

* Dollar hits 4-month high vs yen

* U.S. stocks up, euro rallies from 3-month low vs dollar

* Plans for more Chinese spending boost risk appetite

* U.S. private employers shed 697,00 jobs in February (Updates prices, adds quotes)

By Gertrude Chavez-Dreyfuss

NEW YORK, March 4 (Reuters) - The U.S. dollar scaled four-month peaks against the yen on Wednesday, as news about China's latest stimulus package and data suggesting its economy is beginning to recover rekindled investors' risk appetite.

The news fueled a rally on Wall Street, lifting it from 12-year lows hit and prompted selling in the greenback versus the euro and other higher-yielding currencies such as the Australian and New Zealand dollars.

"The biggest news today came out of China and that seems to have a bigger impact on risk appetite than market activity," said Robert Blake, senior currency strategist, at State Street Global Markets in Boston.

"The news of the stimulus package is supporting riskier currencies and generating an unwind in the safe-havens that is now more or less limited to the dollar," he added.

China on Wednesday said it would increase infrastructure and manufacturing spending, raising hopes of stimulus for the global economy. In addition, an important measure of Chinese manufacturing improved in February for a third straight month. For news on China, click on [ID:nSP488798].

The report on China overshadowed data showing another slide in U.S. private sector employment for February. For more see [ID:nN04538530].

In late New York trading, the dollar rose to 99.06 yen <JPY=>, up 0.8 percent on the day. Earlier, it climbed to 99.49 yen, the highest level since Nov. 5, according to electronic trading platform EBS.

The yen was also weighed down by concerns about Japan's economy, which is mired in recession. That along with zero interest yields have spurred an outflow of funds from Japanese investors themselves.

Bank of Japan board member Miyako Suda echoed those worries on Wednesday, saying it was difficult to judge whether the Japanese economy had hit bottom and voiced concerns over tumbling share prices.


The euro was trading at $1.2644 <EUR=>, up 0.6 percent on the day after earlier hitting a three-month trough below $1.25. Sterling rose 0.8 percent to $1.4171 <GBP=> .

The global backdrop, though, hasn't changed, with financial markets still in turmoil, credit markets remaining tight and economies around the world still far from recovery.

"We believe the underlying risk aversion theme is alive and well," said Andrew Wilkinson, senior market analyst, at Interactive Brokers in Greenwich, Connecticut.

"With a push below $1.25 against the euro and the rise to within a hair's breadth of C$1.30 against the Canadian dollar, it's hard to blame traders from taking profits and making short-term bets against the greenback ahead of Friday's employment report."

Anxiety about the U.S. and world economies has supported the dollar in recent months as investors cut exposure to stocks and other currencies and sought safety in the greenback, which benefits from its role as the world's reserve currency.

The Australian dollar, meanwhile, rallied, despite data showing Australia's economy shrank in the fourth quarter for the first time in eight years. The Aussie dollar rose to US$0.6503 <AUD=>, up 1.8 percent.

Its New Zealand counterpart also posted sharp gains to US$0.5055 <NZD=>, up 2.2 percent from late Tuesday.

Analysts said the focus now shifts to Thursday's monetary policy decisions, with the Bank of England and European Central Bank expected to cut borrowing costs by half a percentage point to record lows.

The ECB in particular will be watched for any indication it is considering adopting unconventional measures beyond simple rate cuts to boost money supply and growth.

If that happens, look for renewed euro selling, said Michael Woolfolk, senior currency strategist at Bank of New York-Mellon. "The market would take that to mean the ECB knows something it doesn't, and that's not encouraging." (Additional reporting by Steven C. Johnson; 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 October 2017

Register for the Amazing Trader


Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook

Trading Opportunities

  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.

  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.

  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.

  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.

  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.

John M. Bland, MBA
co-founding Partner,

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated


Trader's Advocate Articles..


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.



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