User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday August 13, 2009 - 10:31:00 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Euro hits 1-week high vs dlr on growth surprise


Thu Aug 13, 2009 5:52am EDT

* Upside surprise in German, French GDP buoys euro

* Euro zone economy shrinks just 0.1 pct in Q2

* Fed's more upbeat outlook helps spur risk appetite

* Higher-yielders like Aussie, kiwi shine vs dollar

(Updates prices, adds euro zone GDP data)

By Ian Chua

LONDON, Aug 13 (Reuters) - The euro hit a one-week high against the dollar on Thursday after the euro zone's two biggest economies posted surprise returns to growth in the second quarter, helping drag the dollar down versus a basket of currencies.

The dollar was further weighed by growing demand for riskier assets including commodities and higher-yielding currencies such as the Australian dollar AUD= after the Federal Reserve on Wednesday gave its clearest statement to date that it saw the U.S. recession nearing an end.

As expected, the Fed kept its benchmark rate unchanged near zero and said it would very likely stay there for an extended period to guide the way to recovery. See [ID:nN1272730]

Striking an upbeat note for the euro zone, reports on Thursday showed the region's two biggest economies, Germany and France, returned to growth in the second quarter, helping the entire 16-nation bloc post a modest 0.1 percent contraction that quarter.

After a weak 2009, the euro zone economy is expected to return to growth next year, the European Central Bank said in its monthly bulletin. See [ID:nLD331672] and [ID:nLD36656]

At 0927 GMT, the euro was up 0.5 percent on the day at $1.4270 EUR=, having reached a session high of $1.4280 -- a level last seen on Aug. 7. Against the yen, the euro gained 0.8 percent to 137.49 EURJPY=R.

Further steep gains in the euro, however, are unlikely for now, said Adam Cole, global head of FX strategy at RBC Capital Markets in London.

"What we really need to see for the euro to run any further is some evidence from leading indicators that growth is actually turning positive at the moment. So there is a limit to how far it can run until we get some convincing evidence that Q3 is likely to be positive," he said.

The dollar edged up 0.3 percent versus the yen to 96.32 JPY= but fell 0.4 percent against a basket of major currencies .DXY to 78.526. The dollar index reached a session low of 78.502 -- a level last seen on Aug. 7.

Traders said the U.S. currency's upside against the yen seemed to be capped due to talk of Japanese investors repatriating funds related to $27 billion in coupon payments on U.S. Treasuries due on Aug. 15. In addition, $61 billion in coupon securities mature on the same day.

Higher-yielding currencies such as the Australian and New Zealand dollars extended gains made the previous day after rebounding from steep losses.

The Aussie was up 1.2 percent at $0.8419 AUD=D4, having fallen as low as $0.8180 on Wednesday, while the kiwi advanced 0.9 percent to $0.6761 NZD=D4.

Indicating better risk appetite, global stocks .MIWD00000PUS rose 0.8 percent, U.S. crude CLc1 popped above $71 a barrel, while copper prices MCU3=LX hit a 10-1/2 month high of $6,414.50 a tonne.


While sentiment towards riskier assets has improved, there was still a degree of caution on the Fed's move to extend the time frame of asset purchases as it indicated the economy was still vulnerable, analysts said.

The Bank of England struck a dovish note on Wednesday, saying it might consider cutting the rate it pays on bank reserves in a bid to encourage them to lend more funds. Last week it said it was pumping in an additional 50 billion pounds by buying assets with newly created money.

In contrast, Norway's central bank held rates at a record low but opened the door for increased borrowing costs sooner than expected as the economy continued to recover.

With the Fed meeting over, investors are now looking to economic data for fresh trading cues, particularly U.S. retail sales at 1230 GMT.

Sales are expected to rise 0.7 percent in July from June, following a 0.6 percent gain previously. See [MI/DIARY].

"The problem with Fed statement is that the market can read into it what it wants, leaving both sides content ... hence, for now it is still unclear which way the USD will jump," said Stuart Bennett, senior FX strategist at Calyon in London.

"If the market decides to buy the USD on the back of the more upbeat headline, we could see a similar USD rally as after last Friday's employment report."

The majority of dealers surveyed by Reuters said the U.S. recession will end this quarter but they do not expect the Fed to raise rates until 2010 at the earliest, with four banks seeing a hike in the first half and seven in the second half. [FED/R] (Additional reporting by Kaori Kaneko in TOKYO; editing by Chris Pizzey/Victoria Main)

© 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