User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday August 6, 2009 - 22:22:17 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Risk aversion lifts dollar; pound falls after BoE

Thu Aug 6, 2009 4:06pm EDT

* Sterling tumbles as BoE expands asset buying program

* ECB keeps rates at 1 pct, sees gradual recovery in '10

* Fewer U.S. weekly jobless claims than expected

* Risk-taking fades as markets await U.S. nonfarm payrolls (Updates prices, adds detail)

By Steven C. Johnson

NEW YORK, Aug 6 (Reuters) - Sterling plunged on Thursday after Britain's central bank said it would pump more money into a still fragile banking system while the dollar gained on the euro ahead of a much anticipated U.S. employment report.

The Bank of England did not change interest rates but surprised markets by raising the size of a bond purchasing program designed to boost lending. That would require it to print more money, leading to an oversupply of sterling.

The pound fell more than 1 percent against the dollar, retreating from a 10-month peak above $1.70. It also fell against the euro after the European Central Bank left interest rates at 1 percent and predicted a gradual recovery in 2010.

Analysts said the BoE's move suggested the UK economy is still struggling, sentiment that injected caution into a market eager to buy higher-risk currencies and assets.

"The BoE move was a surprise and is a double-edged sword. It's reassuring that they are prepared to do what's needed but also hints that the global recovery may not be as aggressive as markets had thought," said Mike Moran, senior FX strategist at Standard Chartered in New York.

Thursday's bout of risk aversion hit Wall Street stocks [.N], and lifted the dollar off multi-month lows against the euro and other currencies as investors sought a safe haven.

Investors also hedged positions ahead of Friday's nonfarm payrolls data, which is expected to show the pace of U.S. job losses slowed in July [ID:nN05247775].

The euro fell 0.4 percent to $1.4348 EUR=, retreating from a nine-month high of $1.4446 earlier this week. Sterling fell 1.2 percent to $1.6778 GBP=. The euro rose 0.6 percent against sterling to 85.52 pence EURGBP=. Against the yen, the dollar rose 0.6 percent to 95.42 yen JPY=.

Standard Chartered's Moran said markets were ripe for a pullback as equities, commodities and several foreign currencies have pushed into overbought territory in recent sessions.

To reignite the rally, investors will want to see that the U.S. labor market is following the manufacturing and housing sectors, which have both flashed some encouraging signals that the worst of the recession may be over, he said.

Economists polled by Reuters expect data to show employers cut 320,000 jobs in July, down from a loss of 467,000 jobs the prior month.

If that forecast proves accurate, analysts said, the dollar would likely fall as investors redirect money into stocks, commodities and currencies that promise higher returns.

Data on Thursday showing that the number of Americans filing for first-time jobless benefits fell in the week to Aug. 1 whetted appetites for more good news on the job front. [ID:nN06313199]

But there's still reason to be cautious, meaning that currency investors may want to be wary of prematurely extending bets against the dollar, analysts said.

"The harsh reality is that companies are not going to start hiring any time soon. Consumers won't be able to bring this country out of recession via spending," said Jessica Hoversen, fixed-income and currency analyst at MF Global in Chicago. "And in Europe, some of its largest economies are still very fragile." (Additional reporting by Vivianne Rodrigues; Editing by Leslie Adler)

© 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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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