User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday September 18, 2009 - 10:56:25 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX NEWS-Dollar rises broadly, off 1-yr low vs euro

Fri Sep 18, 2009 6:36am EDT

* Euro off 1-year highs; Aussie, kiwi fall

* Waning risk appetite helps dollar's safe-haven appeal

* Dollar hits day's high vs yen after Japan Fujii's comments

* GBP dips, source says Lloyds' asset scheme exit hindered

(Updates throughout)

By Emelia Sithole-Matarise

LONDON, Sept 18 (Reuters) - The dollar rose against most major currencies on Friday, clawing off a one-year low against the euro as waning risk appetite cut demand for higher-yielding currencies, giving the bruised greenback some respite.

The dollar has retreated broadly since March as investors shifted into riskier assets due to increasing signs that the global economy is on the mend, and it extended its losses this week as equities and commodities rallied.

The U.S. currency gained some reprieve on Friday as global equities fell and investors trimmed their positions ahead of holidays in Japan and Singapore next week, although the trend for broad dollar weakness was seen as likely to persist.

"It's a risk-driven move for now. Overnight equities didn't perform as well. That is obviously weighing on markets for now. It remains to be seen whether that is sustained," said Geoffrey Yu, currency strategist at UBS in London.

"It's possible on Friday people are taking profits. It's too early to tell whether it marks the beginning of a trend because there's been no notable catalyst for now but if things do pick up again up ahead, as in outflows from risk markets pick up, then it may mark the start of something more significant."

The euro dipped 0.2 percent from late U.S. trading on Thursday to $1.4705 EUR= by 1012 GMT.

The euro, which hit a one-year high of $1.4768 on trading platform EBS on Thursday, has risen about 2.8 percent in the past two weeks.

Data showing German August producer prices rose by 0.5 percent month-on-month, beating forecasts for a 0.2 percent rise, had little effect on the market. [ID:nBAF001792]

The dollar index, which measures the dollar's value against a basket of six major currencies, rose 0.35 percent to 76.455 .DXY, having bounced off Thursday's one-year low of 76.010.

Comments by Russian Prime Minister Vladimir Putin that there was no threat to the United States from many reserve currencies also had little immediate effect on the market. [ID:nLI168886]

"We've obviously had a fairly big move. There's not much in terms of news or catalyst to drive the market further ... It's just time for a period of consolidation after some big moves," said Derek Halpenny, European head of currency research at Bank of Tokyo Mitsubishi UFJ in London.

European shares slipped from an 11-month peak hit the previous session as recent sharp gains prompted investors to book profits.

DOLLAR WEAKNESS INTACT

Some in the market expect the dollar to remain under pressure given lower financing costs, fuelling speculation the greenback is fast becoming the preferred funding currency for carry trades.

"The (U.S.) three-month Libor rates are now cheaper than in the euro zone, Switzerland or Japan. The dollar has thus become a financing currency for carry trades, which currently constitute an attractive investment strategy," Commerzbank strategists said in a note. "In a situation such as this, positive economic data only ever provides short-term support for the dollar. This situation is unlikely to change until there are signs that the Fed might raise rates. In an environment such as this, the 1.50 mark seems the next logical target in EUR-USD."

Other market participants such as Halpenny say the greenback could win traction on rising U.S. Treasury debt yields on rising optimism about the economic outlook.

Against the yen, the dollar rose as high as 91.47 yen JPY= according to Reuters data, extending gains after Japanese Finance Minister Hirohisa Fujii said he did not want to be perceived as backing a strong yen. [ID:nTKU105559]

It traded 0.3 percent up on the day, having rebounded from a seven-month low of 90.12 yen hit on Wednesday.

Sterling extended losses, hitting a four-month low against the euro of 90 pence EURGBP=D4 on news the UK had set tougher-than-expected conditions to the potential exit of Lloyd's Bank from a state-run scheme to protect its assets.

Britain's Lloyds Banking Group (LLOY.L: Quote, Profile, Research, Stock Buzz) said on Friday it was weighing alternatives to the scheme to insure it against credit losses [ID:nLI109343].

Sterling slumped 0.6 percent against the dollar to $1.6338 GBP= by 1019 GMT.

The Australian dollar AUD=D4 fell 0.3 percent to $0.8696, down from a 13-month high of $0.8776 hit on Thursday. Strong support is expected to emerge at around $0.8680.

The New Zealand dollar was little changed around $0.7099 NZD=D4, having dipped 0.3 percent earlier but was still off a 13-month high of $0.7159 hit on Thursday.

© 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.

Register To Test Your Amazing Trader


Trading Ideas for 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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