User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday May 11, 2009 - 10:15:32 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX NEWS-Dlr up from 4-mth low, yen up as risk rally fades

Mon May 11, 2009 6:06am EDT

* Dollar index up, recovers from 4-month low

* Dlr extends losses vs yen after HSBC results

* High-yielders retreat from multi-month peaks

(Adds quotes, updates prices)

By Kirsten Donovan

LONDON, May 11 (Reuters) - The dollar recovered from its lowest level in four months against a basket of currencies and the yen climbed on Monday as investors turned cautious after last week's hefty rally in riskier assets.

The dollar fell against the yen after banking giant HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz) reported first quarter pre-tax profits ahead of last year's but also said loan impairment charges and other credit charges were higher over the same period [ID:nLB716280].

Emboldened by data showing slowing U.S. job losses on Friday, investors in Asia diversified into other currencies, pushing the dollar index .DXY to a fresh four-month low earlier in the session on hopes the worst of the economic slump may be over.

But with the economic outlook still far from certain, investors were reluctant to push riskier assets even higher and instead booked profits, particularly in banking shares.

"U.S. stock futures are off and the market has run with that a little bit," said Steven Barrow, head of G10 FX Research at Standard Bank.

"You look at the risk positions and they've been pared back a bit but a lot of the currencies have had a good run, so it's a bit of a pullback, the question is whether it's a pullback to buy in to or something more sinister."

European shares .FTEU3 were 1.3 percent lower and banking shares were down twice as much .SX7p, while U.S. stock futures SPc1DJc1 pointed to a lower start on Wall Street.

The ICE futures U.S. dollar index, which tracks the dollar versus a basket of six major currencies, was up 0.3 percent on the day at 82.661 .DXY. Earlier on Monday it dipped to 82.292, its lowest since early January, after breaking support from its 200-day moving average on Friday.

The euro fell 1.1 percent to 132.65 yen <EURJPY=R> after briefly hitting a one-month high at 134.81 earlier, while the dollar was 0.8 percent lower at 97.7 yen <JPY=>.

The euro was down 0.5 percent at $1.3581 <EUR=>, having earlier hit a seven-week high at $1.3670 on trading platform EBS.

AUSSIE, KIWI REVERSE

The euro had climbed 1.7 percent on Friday, helped by a break through its 200-day moving average, a key technical resistance on the charts.

"We had a big squeeze up during Friday and into this morning, especially in terms of euro/dollar which went up towards the $1.37 resistance," said Rabobank strategist Jeremy Stretch.

"But while we have seen some caution this morning that's capped the dollar's slide, the direction in the short-term is still going to be determined by equity markets sentiment and global recovery prospects."

Analysts said with several risk events out of the way such as stress tests for U.S. banks and jobs data, investors were generally more confident, although there was little in the way of near-term events to keep up that momentum.

Standard Bank's Barrow said that there currently wasn't enough momentum to see a significant break higher for the euro just now even if it did get above the $1.37/1.38 area, and that a further improvement in sentiment would be needed.

"As markets improve then the performance of investors, and hedge funds in particular, will improve and encourage them to feel redemptions could be diminishing and they can put more risk to work, getting out of dollars and investing overseas," he said.

The New Zealand dollar was up 0.2 percent on the day at $0.6050, having earlier climbed to its highest in six months above $0.6100 <NZD=D4> and the Australian dollar was down 0.8 percent at $0.7630 <AUD=> after hitting a seven-month peak in early Asian trade at $0.7714 <AUD=D4>. (Reporting by Kirsten Donovan; Editing by Toby Chopra

© 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.

Register To Test Your Amazing Trader


Trading Ideas for 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


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



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