User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday September 3, 2009 - 20:41:56 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX NEWS-Yen down from 7-week highs; ECB weighs on euro

Thu Sep 3, 2009 4:33pm EDT

* Yen down broadly as risk tolerance reduces safety bid

* Euro pares gains after ECB offers no sign of exit

* U.S. jobless data highlight fragility in labor markets

* Investors await U.S. nonfarm payrolls report Friday (Recasts, updates prices)

By Nick Olivari

NEW YORK, Sept 3 (Reuters) - The yen slipped from a seven-week high against the dollar and declined versus other major currencies on Thursday as an upbeat tone in global stock markets reduced the Japanese currency's safe-haven allure.

The euro erased gains against the dollar after the European Central Bank offered no signs of an exit from unconventional measures aimed at stimulating the economy and signaled that interest rates will remain low for some time. For more see [ID:nL3374378].

Shares on Wall Street edged higher .SPX as investors focused on strength in sales by key retailers and a 4.8 percent rally in the Shanghai Composite Index .SSEC reassured investors that China can support a global economic recovery and raised appetite for risky assets.

"We've seen the strong performance overnight in the Chinese stock exchange. Some positive sentiment spilled over into European and North American trading," said Matthew Strauss, senior currency strategist at RBC Capital Markets in Toronto.

"There's clearly a risk appetite bias, but ... I think ahead of tomorrow's (nonfarm payrolls) numbers, it's unlikely to become a strong trend," he added.

The ECB earlier held interest rates at a record low 1.0 percent as widely expected and warned that now was not the time to withdraw state support as economies emerge slowly from recession. There are increasing signs of stabilization in the euro area economy, but uncertainty remains high, ECB President Jean-Claude Trichet said.

"Given the recent upside surprises to euro zone economic data, the market appeared to be somewhat positioned for a more hawkish tone from the ECB president," said Omer Esiner, senior market analyst at Travelex Global Business Payments in Washington.

"On balance, his comments are cautious with regard to the economic outlook and that's dampening some of the euro's previous upbeat tone."

In late afternoon New York trading, The dollar rose 0.5 percent to 92.62 yen JPY=, after falling as low as 91.92 yen, according to Reuters data, its lowest since July 13.

The euro was little changed at $1.4254 EUR=, off a session peak of $1.4348, according to Reuters data.

The yen also fell against other major rivals, with the euro up 0.4 percent EURJPY=R, sterling up 0.8 percent GBPJPY=R, the Swiss franc up 0.3 percent CHFJPY=R, the Canadian dollar up 0.6 percent CADJPY=R and the Australian dollar up 1.1 percent AUDJPY=R.

PAYROLLS AWAITED

The euro also came under pressure after the ECB's Trichet confirmed the European central bank would offer banks unlimited 12-month funds at a flat rate of 1.0 percent, offering no sign of easing up on unconventional measures. [ID:nECBNEWS]

Ronald Simpson, managing director of global currency analysis at Action Economics in Tampa, Florida, said the ECB had foiled hopes it would make the longer-term refi rate more flexible as a way out of its easing policy.

"I think some people were thinking that this could pave the way for rates to firm ... Obviously, that has been dashed," said Simpson.

Markets were becoming somewhat wary of taking on too much risk as policymakers have indicated a cautious stance on the economic outlook. Investors were also reluctant to place big positions ahead of a key U.S. jobs report on Friday.

Economists polled by Reuters are looking for job losses of 225,000 for August. ECON

U.S. data on Thursday showed new applications for jobless benefits fell last week, but the prior period's figure was revised up, highlighting the fragility of the labor market.

Separately, the Institute for Supply Management said its nonmanufacturing index climbed to 48.4 in August, the highest in 11 months. [ID:nN0391201]

"We've seen jobless claims come down markedly from their peak a few months ago, but they seem to have stalled around the upper (500,000) handle, I think that certainly implies continued softness in the jobs market, which undermines hopes for a rapid recovery," Travelex's Esiner said. (Additional reporting by Gertrude Chavez-Dreyfuss and Wanfeng Zhou; 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.

Upgrade Your Trading experience. Try the Amazing Trader


Trading Ideas for 15 January 2018

Upgrade Your Trading. Try The Amazing Trader

Amazing Trader EVENT RISK Calendar:

Mon 15 Jan 2018
00:00 US- Holiday
Tue 16 Jan 2018
09:00 GB- CPI
20:00 US- Beige Book
Wed 17 Jan 2018
00:30 AU- Employment
02:00 CN- GDP
10:00 EZ- final HICP
14:15 US- Industrial Production
15:00 CA- Bank of Canada Decision
Thu 17 Jan 2018
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
16:00 US- EIA Crude
Fri 18 Jan 2018
09:30 GB- Retail Sales
15:00 US- University of Michigan (prelim) Survey


PROSPECTIVE Trading Opportunities

  • POTENTIAL PRICE RISK: HIGH- Tue -- 09:30 GMT-- GB- CPI


  • POTENTIAL PRICE RISK: HIGH- Wed -- 00:30 GMT-- AU- Employment

  • POTENTIAL PRICE RISK: Medium- Wed -- 10:00 GMT-- EZ- Final HICP

  • POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production

  • POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision


  • John M. Bland, MBA
    co-founding Partner, Global-View.com




    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 Global-View.com.

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

Global-View.com 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 Global-View.com. 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.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105