User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday September 23, 2009 - 10:43:18 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar hovers near yr low before Fed; kiwi surges

Wed Sep 23, 2009 6:23am EDT

* Dollar index near 1-yr low as Fed statement awaited

* NZD surges on growth surprises, lifts Aussie vs USD

* Trading cautious as G20 summit looms

(Updates prices, adds details)

By Emelia Sithole-Matarise

LONDON, Sept 23 (Reuters) - The dollar hovered near its weakest for a year against a currency basket on Wednesday before a U.S. Federal Reserve policy decision later in the day expected to keep interest rates at record lows.

The euro pulled back slightly from a one-year high struck against the dollar earlier with stronger than forecast euro zone manufacturing, services activity and industrial new orders having little immediate impact as the market had largely priced in improvement in the sector.

The New Zealand dollar surged to its highest in 13 months against the U.S. currency after the economy unexpectedly pulled out of recession in the second quarter, fuelling expectations the central bank might have to start raising rates sooner than previously thought.

The kiwi NZD=D4 smashed through all barriers to rise more than a cent to $0.7315, its highest since early August 2008, after gross domestic product (GDP) data showed the economy unexpectedly grew in the second quarter, ending a prolonged recession. [ID:nWEL462955]

The jump in the kiwi prompted investors to shift more money into other higher-yielding currencies such as the Australian dollar from the U.S. currency, and helped trigger further speculative dollar selling against other currencies such as the euro and the yen.

Some in the market expect a slight correction in the currency market on some caution ahead of the Federal Reserve statement later in the session and the start on Thursday of a summit of leaders from the Group of 20 nations.

"Overall the FOMC and the G20 are unlikely to disrupt the recent positive tone in asset markets and that's likely to see the trends in currency markets resume," said Ian Stannard, currency strategist at BNP Paribas in London. "I will be looking at the currency pullback I expect today to be very much providing a buying opportunity for the pro-cyclical and commodity currencies," he said.

The dollar index .DXY, which measures the dollar's value against a basket of six major currencies, was 0.1 percent lower at 76.022 by 0917 GMT, off an earlier low of 75.892, a level not seen since last September. Charts indicate the next support level at around 74.70.

The dollar index has shed more than 2.5 percent this month as speculators sold the dollar on rising confidence in a global recovery and expectations U.S. policymakers will keep interest rates at rock-bottom levels for some time.

The Fed, which ends its two-day meeting on Wednesday, is expected to reiterate its intention to keep an ultra-loose monetary policy for an extended period. [ID:nN22350285]

The euro EUR= was marginally firmer at $1.4792, having risen earlier past resistance around $1.4825 to a one-year high of $1.4843 on trading platform EBS.

Traders cited talk of a digital option in the euro at $1.48, where the option holder is in line for a payout of 10 million euros if the spot market rate is at that level or higher at the option expiry later in the day.


The dollar fell as low as 90.47 yen on EBS before crawling back to 90.89 yen, down 0.3 percent from late U.S. trade. Dealers said stop-losses were triggered around the 90.90 yen level, making the earlier drop even sharper.

The dollar fell to a seven-month trough of 90.12 yen last week, nearing the psychologically important 90 yen level.

"We have advocated our preference of being long U.S. dollar in the run-up to today's FOMC meeting and whilst this strategy paid off until yesterday, we are forced on the defensive by strong demand for risk assets," Lloyds strategists in London said in a note.

"We will let markets run their course over the next few hours, mindful of the possible influence of other events like the...G20, where countries do not appear all that much in harmony over the list of priorities."

Leaders at the Group of 20 summit are also expected to call for economic stimulus plans to stay in place, a move which could give a boost to riskier assets. [ID:nLM242341]

The Australian dollar AUD=, considered a proxy to global growth, jumped to a new 13-month high, tracking gains in the New Zealand dollar and capitalising on U.S. dollar weakness. The Aussie AUD=D4 rose to as far as $0.8790 before trimming gains to $0.8755, up 0.2 percent.

The New Zealand dollar stood at $0.7265, up 1.02 percent.

© 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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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