User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday August 11, 2009 - 21:44:37 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Yen rises on China's lackluster data, risk aversion

Tue Aug 11, 2009 4:17pm EDT

* Yen gains on rising risk aversion, China's data

* Aussie, kiwi slide as shares fall

* Dollar holds most gains, traders await FOMC

(Adds details, updates prices)

By Vivianne Rodrigues

NEW YORK, Aug 11 (Reuters) - The Japanese yen rose broadly on Tuesday as investors bought the low-yielding currency as U.S. stocks declined and on rising risk aversion after disappointing economic data from China.

China reported below-forecast growth in factory output and investment, reminding investors that the world's third-largest economy is not yet back on a solid footing. (For details, see [ID:nPEK328668]).

The news also added to the currency woes of the so-called commodity-bloc countries that supply raw materials to China, such as Australia and Canada. The commodity-bloc currencies were among Tuesday's biggest decliners against the U.S. dollar.

The dollar traded in a tight range, swinging between gains and losses against a basket of currencies and as investors awaited a policy statement from the Federal Reserve on Wednesday and speculated whether strong U.S. data would support the currency.

U.S. jobs data last week boosted expectations for higher U.S. interest rates by early 2010, but with a Fed announcement looming some dollar investors chose to wait rather than continue to buy.

Declines in U.S. and European stocks also prompted traders to sell currencies seen as higher risk versus the dollar and the yen.

"Chinese economic news is likely playing a part in today's forex market activity," said Nick Bennenbroek, head of currency strategy at Wells Fargo Bank in New York. "And with China seen as the global economy's main growth engine during the early stages of recovery, the disappointment (with the data) is weighing on equities and on the commodity-based and emerging currencies."

Wells Fargo expects further weakness in commodity and emerging markets currencies in the near term.

In late afternoon trading in New York, the dollar was down 1.2 percent at 95.95 yen JPY=, off an eight-week high of 97.79 yen set last week on electronic trading platform EBS. The euro was down 1.1 percent against the yen at 135.76 yen EURJPY=R.

Technical currency analyst James Chen at FX Solutions in Saddle River, New Jersey, said in a note that the move lower in euro/yen after recent sharp gains may pave the way for a further drop to near 131.00.

The Australian dollar AUD= fell 0.9 percent to $0.8302, while the New Zealand dollar slipped 1.1 percent on the day to $0.6683. The U.S. dollar rose 1.2 percent against the Canadian dollar to C$1.1009.

The dollar index edged lower at 79.143 .DXY, swinging between 79.355 and 79.008.

"We're in consolidation mode right now as the anticipation builds for the Fed statement tomorrow afternoon," said Brian Dolan, chief currency strategist at in Bedminster, New Jersey. "The Fed will acknowledge some better data but also downplay the idea that an exit strategy will start soon."

The Fed is expected to keep rates steady at 0-0.25 percent on Wednesday but paint a slightly brighter economic picture while dampening speculation about a rate hike. It is also likely to end its $300 billion Treasury purchases program, as scheduled.


The euro rose 0.1 percent to $1.4152 EUR=, close to a one-week low around $1.41 hit on Monday. Traders saw support at the 40-day moving average around $1.4095.

The market showed little reaction to German consumer price inflation data [ID:nBAF001755] and to results of a U.S. government debt auction in which the Treasury sold $37 billion in three-year notes [ID:nTAR000034]

Investors also brushed off the Bank of Japan's decision to keep interest rates at 0.1 percent. BOJ Governor Masaaki Shirakawa said he saw no risk of a deflationary spiral in Japan. [ID:nTKU105491].

The euro hit the day's high against the Swedish crown earlier at 10.393 crowns EURSEK=, according to Reuters data in New York, after ratings firm Standard & Poor's cut sovereign credit ratings for Estonia and Latvia on Monday.

Swedish banks are heavily exposed to the Baltic region, which is gripped by deep recession [ID:nN10485167]. (Additional reporting by Nick Olivari and Steven C. Johnson in New York; Editing by Padraic Cassidy)

© 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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim 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