User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 8, 2009 - 10:31:59 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dlr slumps to 1-yr low on major currencies; gold rallies

Tue Sep 8, 2009 5:12am EDT

* Commody-linked currencies at one-yr highs on gold glitter

* Euro at strongest on dlr in a month; firmer shares help

* Focus on U.S. markets reopening for further cues

(Recasts with Aussie at new 1 yr peak, changes byline, dateline previously TOKYO)

By Emelia Sithole-Matarise

LONDON, Sept 8 (Reuters) - The dollar slumped to its lowest in almost a year against a basket of major currencies on Tuesday as gold rallied above $1,000 an ounce with traders citing talk of reserve diversification into gold undermining the U.S. currency.

Renewed concern over the dollar's long-term status as the world's reserve currency sparked by a United Nations agency report on Monday [ID:nL7696421] and options-related euro buying also fuelled the broad-based dollar selling.

"A combination of a pick-up in industrial activity being cemented and talk of reserve diversification into gold is keeping dollar on the back foot," said Chris Turner, head of FX strategy at ING.

"There is more evidence of industrial activity picking, from German data on Monday and UK data today. That means re-stocking in Q3 which is good for commodities and commodity currencies."

The dollar index, a gauge of the greenback's performance against six major currencies, fell almost one percent on the day to 77.398 .DXY.

Against the yen, the dollar dipped 0.8 percent from late Monday trade to 92.23 yen JPY=.

The euro rose as high as $1.4438 EUR=, according to Reuters charts, up two thirds of a percent on the day, and the dollar's trade-weighted index fell 0.75 percent to 77.445 .DXY.

Gold jumped more than 1 percent to $1,007.45 an ounce XAU=, its highest since March last year.


This helped hoist the Australian and New Zealand dollars to their strongest levels in a year against the U.S. dollar.

The Aussie AUD=D4 rose as high as $0.8634, its highest since August 2008. Data also showed Australia's business confidence hit a six-year high in August, adding to mounting speculation that local rates will rise in coming months, providing overall support to the Aussie.

"Risk appetite remains the key driver for these currency markets," said Daragh Maher, deputy head of global currency research at Calyon in London.

"We saw the Chinese equity market which was lower in the early part of the session rebound quite sharply in second half of the session that has given the broad equity theme a lift. That's helped drive the risk currencies a bit higher."

European shares were up 0.5 percent by 0850 GMT. Investors had been encouraged by global financial chiefs' statements at the weekend that it was too soon to start unwinding fiscal, monetary and financial-sector stimulus measures.

The Australian dollar AUD=D4 rose as high as $0.8634, its highest in just over a year. Data also showed Australia's business confidence hit a six-year high in August, adding to mounting speculation that local rates will rise in coming months, providing overall support to the Aussie.

With currencies and gold hitting those key levels, currency market participants were now waiting for U.S. markets to reopen after Monday's holiday for clues on whether the rally in riskier currencies will be sustained.

The kiwi NZD=D4 rose to a new one-year high of $0.6944 NZD=D4, extending the previous session's gains. The gains come ahead of a Reserve Bank of New Zealand meeting on Thursday to decide on monetary policy.

The recent surge in the kiwi could be a focus of Governor Alan Bollard, who has expressed his discomfort with its rise. The currency has rallied 30 percent since March, forcing monetary conditions to tighten to the frustration of the RBNZ which threatened to cut interest rates at its last meeting in July.

© 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

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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