User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Saturday March 14, 2009 - 00:10:12 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

Forex Market News - CANADA FX DEBT-Canadian dollar swings widely, ends higher

Fri Mar 13, 2009 5:33pm EDT

* Rising global optimism outweighs gloomy Canadian data

* C$ trades in 77.86 U.S. cent to 79.20 U.S. cent range

* Bonds turn higher as focus back on economic data

* Canada sheds 82,600 jobs in Feb, jobless rate rises

* Canada trade deficit at C$993 mln is biggest on record (Updates to close)

By Ka Yan Ng

TORONTO, March 13 (Reuters) - The Canadian dollar closed higher against the U.S. dollar on Friday after swinging in a wide range with the market torn between mounting optimism over the world banking system and further evidence of a deteriorating domestic economy.

The currency finished at C$1.2725 to the U.S. dollar, or 78.59 U.S. cents, up from C$1.2791 to the U.S. dollar, or 78.18 U.S. cents, at Thursday's close.

That was a rebound from the session low of C$1.2844 to the U.S. dollar, or 77.86 U.S. cents, which was hit after Canadian employment data for February came in worse than expected.

The currency rose as high as C$1.2627 to the U.S. dollar, or 79.20 U.S. cents, during the day, carried by hopes that North American stock markets would build on this week's gains.

Canada posted a record trade deficit of C$993 million in January, slightly ahead of expectations for a C$1 billion trade shortfall as shrinking U.S. demand for cars led to a dramatic slide in exports. [ID:nN13254064]

Also, the country shed 82,600 jobs last month, compared with forecasts for a decline of 52,500. The unemployment rate shot up to its highest level since 2003. [ID:nN13253705]

The Canadian dollar's big swing showcased its resilience in the face of some bearish economic numbers.

"It certainly looks curious when you only examine the economic numbers," said Eric Lascelles, chief economics and rates strategist at TD Securities.

"To many it is telling that the C$1.30 level was not again breached despite of all this bad news. Perhaps it's even beginning to generate some speculation that the Canadian dollar could start heading more persistently in the opposite direction towards strength."

The currency fell to 4-1/2-year low on Monday when it hit C$1.3066 to the U.S. dollar, or 76.53 U.S. cents, but it then rebounded.

Finance Minister Jim Flaherty, in Britain for a Group of 20 finance ministers meeting, told Canadian media that Canada will continue to see job losses for several months to come. Prime Minister Harper echoed those views. [ID:nN13515816]

"It was not a hot week for the Canadian economy. (The jobs and trade reports) really do drive home just how poorly Canada is doing," said Lascelles. "But it's been a good week for the stock market and the general sense of risk in the world."

The currency was up 0.86 U.S. cents on the week.

BONDS REVERSE

Canadian bond prices reversed early losses to end higher as the day's economic figures reinforced an already pessimistic view of the economy in the first quarter.

Early indications of a strong open to North American stock markets took the market's attention away from the poor economic data and left it to fall. The attractiveness of safe haven government debt is often pared when riskier assets, such as stocks, are favored.

"Initially the market was inclined to sell off a bit but repeated economic figures forced otherwise. At the end of the day, I think you can justify this as a macroeconomic rally driving the bond market," Lascelles said.

The two-year bond edged up 2 Canadian cents to C$103.01 to yield 0.973 percent. The 10-year bond rose 42 Canadian cents to C$107.72 to yield 2.871 percent.

The 30-year bond gained 70 Canadian cents to C$124.70 to yield 3.599 percent. The U.S. 30-year bond yielded 3.678 percent.

Canadian bonds outperformed U.S. Treasuries across much the curve. The Canadian 30-year bond yield was about 8 basis points below its U.S. counterpart on Friday, compared with 2.6 basis points on Thursday. (Editing by Peter Galloway)

© 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 15 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Thu 14 Dec
23:50 JP- Tankan Survey

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: HIGH-Medium- Thu --23:50-- JP- Tankan Survey
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