User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday May 14, 2009 - 10:59:12 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar supported, weak U.S. data, shares sting risk

Thu May 14, 2009 6:37am EDT

* Dollar draws support from sluggish shares

* Weak U.S. sales data underlines long road to econ recovery

* ECB policymaker comments underline divided policy views (Adds comment, updates throughout)

By Naomi Tajitsu

LONDON, May 14 (Reuters) - The dollar inched up on Thursday, supported after sluggish U.S. retail sales figures reminded investors that recent optimism about a global economic recovery may be premature and kept risk aversion high.

Ongoing uncertainty about the recovery in the global economy was highlighted by movements in European shares, which bobbed between positive and territory and helped to keep currencies hemmed in narrow ranges.

"There's volatility in viewpoints (about the economy) at the moment, which is creating instability," said Marc Ostwald, strategist at Monument Securities.

"The currency market, and particularly euro/dollar, is keeping an inordinately close eye on equities," he said, adding that even the slightest bump lower in share prices was putting some selling pressure on the pair.

By 0951 GMT, the euro <EUR=> had slipped 0.1 percent to $1.3585, pulling back from a session high around $1.3623 hit after European shares briefly recovered earlier losses and turned positive.

The pair stayed near $1.3525 <EUR=> touched on trading platform EBS earlier in the day, its weakest since late last week, while keeping its distance from a seven-week high of $1.3722 hit on Wednesday.

Concerns that a global economic recovery will take much more time kept investors cautious about taking on risky positions, stinging share prices and prompting some to reverse aggressive short-dollar positions accumulated earlier in the week.

The dollar is often considered a safe-haven bet in times of uncertainty.

The U.S. currency .DXY rose slightly against a basket of currencies to 82.661, extending its recovery after the dollar index hit a four-month low of 81.998 earlier in the week, according to Reuters data.

European shares .FTEU3 fell 0.3 percent, which also helped to prompt investors to exit positions in higher-risk currencies, helping to prod the high-yielding Australian dollar roughly 0.4 percent lower versus the dollar <AUD=D4> and the yen <AUDJPY=R>.

Sluggish stock prices offered broad support to the yen, nudging the dollar <JPY=> down as low as 95.14 yen in Asian trade to match its weakest level in nearly two months. The pair later pulled back to around 95.35 yen.

The euro <EURJPY=R> slipped 0.3 percent to 129.41 yen, while sterling/yen fell 0.2 percent <GBPJPY=R>.

With few major economic data releases in the euro zone, traders remained focussed on data on Wednesday which showed cash-strapped U.S. consumers continue to hold back from purchases due to job losses, falling home prices and tighter credit.

Dealers were waiting for figures on U.S. weekly jobless claims and producer prices due later in the day for more clues into how long the country's economic recovery will take.


The euro offered little sustained reaction to comments by a handful of European Central Bank Governing Council members who separately offered diverse views on the outlook for interest rates and "non-standard" policy measures to help the euro zone weather the downturn [ID:nLD864384].

ECB Vice President Lucas Papademos on Thursday said he had observed more positive signs suggesting economic stabilisation and that a recovery may start sooner than previously envisaged.

His comments contrasted with Governing Council Member Nout Wellink, who cautioned against becoming too optimistic about the economic growth.

Ewald Nowotny said the ECB's key rate may eventually approach "the lower boundary of zero", while adding that in such a situation, the central bank had other measures to turn to. [ID:nLE649859] The ECB cut its main rate by 25 basis points to 1.0 percent last week.

His colleague, Axel Weber, on Wednesday reiterated that very short-term interest rates are now at an appropriate level.

Earlier in the week, he said there was no need for the ECB to expand its asset purchase programme after it announced it would start buying covered bonds.

Analysts said comments from the ECB underlined brewing disagreement between policymakers regarding how much lower rates can fall, and the extent to which quantitative easing measures may be expanded to help the euro zone economy weather the downturn.

"If the disagreement between the doves and the hawks in the ECB become more vocal, that will result in a downside for the euro," said Lee Ferridge, vice president and senior macro strategist at State Street in London. (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."

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

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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