User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday July 23, 2009 - 23:58:36 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar, euro advance vs yen on recovery optimism

Thu Jul 23, 2009 4:48pm EDT

* U.S. existing home sales, earnings boost optimism

* Euro hits 7-week high vs dollar, 3-week high vs yen

* Dollar/yen posts biggest daily gain since early June

* Bank of Canada says Canadian recession ending (Updates prices, adds comments, details)

By Wanfeng Zhou

NEW YORK, July 23 (Reuters) - The dollar and euro rose against the yen on Thursday as upbeat U.S. corporate results and housing data fueled optimism about the economy and dented safe-haven demand for the Japanese currency.

A rally in U.S. stocks further stoked investors' appetite for risk and pushed the dollar to a seven-week low versus the euro earlier. The Dow industrials .DJI rose above the key 9,000 mark for the first time since January, boosted by strong results from 3M Co (MMM.N: Quote, Profile, Research, Stock Buzz) and others.

"For today, the mood is absolutely cheery," said Dan Cook, a senior market analyst at IG Markets in Chicago. "The story has been yen weakness across the board as traders and investors have been cheered by some pretty positive news."

U.S. existing home sales notched a third monthly rise in June and prices hit their highest since October, fueling hopes the housing sector is finally on the mend and will help propel a broader economic recovery. For more see [ID:nN23398724].

"The ailing housing sector is beginning to stabilize. That would be a necessary component for a more meaningful U.S. recovery," said Joe Manimbo, a currency trader at Travelex Global Business Payments in Washington.

The euro rose to a three-week high at 135.61 yen EURJPY=R, according to Reuters data. It last traded at 134.22, up 1 percent.

The dollar gained 1.6 percent to 95.08 yen JPY=, the biggest daily advance since June 5. It had earlier hit 95.29 yen, the highest in more than two weeks.

"All in all, the data will further encourage the positive risk appetite tone," said Alan Ruskin, chief international strategist at RBS Global Banking and Markets in Greenwich, Connecticut.

"That equities finally look to be making headway into a new price zone will further stir the risk positive trade."

The ICE Futures' dollar index .DXY, a measure of the greenback's value against six other major currencies, hit a seven-week low of 78.420.


The euro climbed as high as $1.4291 EUR=, the strongest since early June, before pulling back to trade at $1.4145, down 0.4 percent on the day.

A drop in U.S. stock index futures after the closing bell following a string of disappointing results from companies, including Inc (AMZN.O: Quote, Profile, Research, Stock Buzz) and Microsoft Corp (MSFT.O: Quote, Profile, Research, Stock Buzz), sparked caution and weighed on the euro zone single currency.

"Some of the earnings reports were a bit disappointing," said Brian Dolan, chief currency strategist at in Bedminster, New Jersey.

"The euro's repeated failure to challenge recent highs above $1.43 has also made it vulnerable, and now we think it has the potential to fall back to the low end of the range, between $1.38 and $1.39," he added.

Some analysts cautioned that the rally in risk sentiment on Thursday could be short-lived, as sentiment remains fragile and markets are probably just one number away from seeing risk aversion coming back.

"There's still ... a lot of uncertainty about the overall global economy. We can have great news one day, just to be followed up by bad news the next," said IG Markets' Cook.

The Canadian dollar jumped after the Bank of Canada said the country's recession is ending this quarter, also helping risk sentiment. [ID:nBAC000317]

The BoC comments propelled the Canadian dollar to its highest since June 3 against the U.S. dollar, which last traded down 1.2 percent at C$1.0872 CAD=. (Additional reporting by Gertrude Chavez-Dreyfuss; Editing by James Dalgleish)

© 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


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,

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated


Trader's Advocate Articles..


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