User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday April 21, 2009 - 10:21:49 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Euro jumps after ZEW but econ jitters remain

Tue Apr 21, 2009 5:48am EDT

* Euro jumps after rise in German ZEW index beats forecasts

* Euro hits session high of $1.2988 <EUR=>

* German ZEW sentiment index 13.0 in March

* Sweden's central bank cuts 50 bps, says rates to stay low

(Releads, adds quotes, update prices)

By Tamawa Desai

LONDON, April 21 (Reuters) - The euro jumped to a session high against the dollar on Tuesday on a bigger-than-expected improvement in German investor sentiment, after the pair hit a one-month low the previous day.

But the euro's gains were limited as investors remain cautious about the economy in spite of the survey, and of corporate earnings announcements and the health of banks.

The Mannheim-based ZEW economic think tank's monthly poll of economic sentiment rose to 13.0 from -3.5 in March. It was the first time since July 2007 that the headline index was in positive territory, and beat forecasts for a reading of 1.5.

That helped push the euro higher, which had gained somewhat earlier in the global session as traders took profits from the euro's recent slide.

"Today's ZEW index is good news. However, there is no reason to become overly enthusiastic," said Carsten Brzeski, economist at ING Financial Markets.

"Nevertheless, there are some glimmers of hope...The deterioration of the real economy is slowing down and mixed signals from confidence indicators show that at least confidence is trying to find a bottom."

The euro hit a session high of $1.2988. It was last up 0.4 percent on the day at $1.2963 <EUR=> after the euro fell to a one-month low of $1.2888 hit on trading platform EBS on Monday.

The single currency also rose to a session high against the yen at 127.70 yen, up around 0.8 percent on the day <EURJPY=R> That was after the euro hit a low of 126.10 yen on EBS.

The dollar was up 0.3 percent at 98.31 yen <JPY=>, up from a three-week low of 97.66 yen hit on Monday.

The yen crosses and commodities currencies had taken the brunt of the impact from a steep slide in U.S. equities on Monday after Bank of America (BAC.N: Quote, Profile, Research, Stock Buzz) reported a jump in non-performing assets, underscoring the banking sector's troubles. [ID:nN20380236]

The euro will likely remain under pressure by uncertainty over what unconventional policy steps the European Central Bank may adopt next month. It is expected to cut interest rates below their current 1.25 percent.

The market will also focus on banks as players await the outcome of stress tests by U.S. authorities to determine how well lenders would fare if the recession proved deeper and longer than expected. Results are expected on May 4. [ID:nN20414138]

"The recent correction will likely continue and we may see euro and cable and Aussie dollar pull lower in the next couple of days," said Ian Stannard, senior foreign exchange strategist at BNP Paribas.

Meanwhile, the Swedish crown rose to around 11.16 per euro from around 11.25 crowns after Sweden's Riksbank cut rates by a smaller-than-expected 50 basis points.

Sweden's central bank slashed its key interest rate to a record low 0.5 percent. The median consensus in a Reuters poll was for a 75 basis point reduction although an equal number of economists had forecast a 50 basis point cut.

The Riksbank said the repo rate was expected to remain at a low level until the beginning of 2011. It also said there was some probability of further cuts and of resorting to "other measures" should the economy deteriorate more than expected.

The Bank of Canada will also announce its rate decision later in the day, where it is expected to hold interest rates at a historic low of 0.5 percent but will unveil a list of possible other steps it could take to stimulate the economy. [ID:nN20401991] (Editing by Ruth Pitchford)

© 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."

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.

Upgrade Your Trading experience. Try the Amazing Trader

Trading Ideas for 15 January 2018

Upgrade Your Trading. Try The Amazing Trader

Amazing Trader EVENT RISK Calendar:

Mon 15 Jan 2018
00:00 US- Holiday
Tue 16 Jan 2018
09:00 GB- CPI
20:00 US- Beige Book
Wed 17 Jan 2018
00:30 AU- Employment
02:00 CN- GDP
10:00 EZ- final HICP
14:15 US- Industrial Production
15:00 CA- Bank of Canada Decision
Thu 17 Jan 2018
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
16:00 US- EIA Crude
Fri 18 Jan 2018
09:30 GB- Retail Sales
15:00 US- University of Michigan (prelim) Survey

PROSPECTIVE Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH- Wed -- 00:30 GMT-- AU- Employment

  • POTENTIAL PRICE RISK: Medium- Wed -- 10:00 GMT-- EZ- Final HICP

  • POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production

  • POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision

  • John M. Bland, MBA
    co-founding Partner,

    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.



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