User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday April 10, 2009 - 20:57:59 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Euro slides in holiday trade, ECB next move eyed


Fri Apr 10, 2009 1:51am EDT

* Euro hits lowest in almost a month vs dollar

* Dented by view ECB edging closer to unconventional easing

* Many major financial centres shut for Easter weekend

By Charlotte Cooper

TOKYO, April 10 (Reuters) - The euro slipped to its lowest in almost a month against the dollar on Friday, dented by holiday trade and views that the European Central Bank may be edging closer to unconventional easing, while the greenback lost early buoyancy against the yen.

With the United States and much of Asia and Europe on holiday, traders said the euro had been pressured by closing of long positions ahead of the long weekend.

ECB President Jean-Claude Trichet said on Thursday the ECB still had some leeway to cut its main interest rate from its record low of 1.25 percent.

He repeated it would lay out plans for possible unconventional monetary policy measures at its next meeting in May. He did not give details, but another ECB official said buying debt could ease credit availability. [ID:nL9724592]

The market has been watching for signs the ECB will take unconventional steps to improve credit after similar moves by the Federal Reserve and other major central banks to keep longer-term interest rates down and help lift their economies from recession.

"Speculation on the ECB's further rate cuts and the possibility of its adopting quantitative easing are weighing on the euro, prompting investors to take profits on its recent gains," said Akira Takeuchi, a manager at Chuo Mitsui Trust and Banking.

As investors have grown more confident in recent weeks and stock markets have rallied, the euro and higher yielding currencies such as the Australian dollar have risen too, only to retreat when investor confidence ebbs.

"The euro, or yen crosses, seem to be breaking from the rising pattern with stock gains. That may suggest a new trading theme is emerging," said Minoru Shioiri, chief manager of FX trading at Mitsubishi UFJ Securities.

"But it's hard to tell at this point, because the move could be just a temporary blip in a holiday-thinned market."

The euro fell 0.2 percent to $1.3138 <EUR=>, after dipping as low as $1.3090 -- a level not seen since mid-March when the Fed shocked markets by announcing it would start large-scale buying of long-term government debt and sent the dollar down sharply.

Against the yen, the euro slipped 0.2 percent to 131.85 <EURJPY=R> after hitting its highest in almost six months on Monday at 137.42.


The dollar gained 0.8 percent against the yen on Thursday, buoyed by a rally in U.S. stocks following positive earnings guidance from U.S. bank Wells Fargo (WFC.N: Quote, Profile, Research, Stock Buzz).

Wall Street indexes rose between 3 and 4 percent after Wells Fargo said it expected to report a record quarterly profit in an encouraging sign for the troubled banking sector, which has been at the heart of the global financial crisis. [.N]

The greenback initially extended those gains in early Asian trade on expected demand from Japanese companies at the Tokyo fixing at 0100 GMT, traders said.

But with the fixing out of the way, it drifted down to lose 0.1 percent on the day at 100.36 yen <JPY=>.

It hit its highest in six months at 101.45 yen early in the week but then faced a bout of profit-taking ahead of the long weekend and the onset of quarterly earnings.

The yen, which has slid in recent weeks as rising investor confidence has seen it sold in part to fund short-term yield plays, was steady against the Australian and New Zealand dollars.

Financial shares will be a market focus next week as several large U.S. banks report quarterly earnings such as Goldman Sachs (GS.N: Quote,Profile, Research, Stock Buzz) JPMorgan Chase & Co (JPM.N: Quote,Profile, Research, Stock Buzz) and Citigroup Inc (C.N: Quote, Profile,Research, Stock Buzz).

"The market has already priced in to some extent some positive news in earnings next week. So the market may react more to negative surprises," said Takeuchi at Chuo Mitsui Trust and Banking Co.

The U.S. Treasury has asked banks not to mention regulatory "stress tests", designed to determine their capital needs under adverse economic conditions, when they report their results, a source said on Friday. [ID:nN09314014]

The results are expected to be released at the end of April.

Fed policy-makers warned that the U.S. economy would skid more deeply into recession in the coming months but said it was time to start planning how to wind down spending to avert an inflationary surge. [ID:nN09302273]

The number of U.S. workers filing new claims for unemployment benefit fell last week but was still at levels indicating contraction in the labour market has yet to hit bottom. [ID:nN09264963]. (Additional reporting by Kaori Kaneko and Satomi Noguchi; Editing by Michael Watson)

© Thomson Reuters 2009. 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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 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