User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday December 16, 2009 - 11:19:55 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Dollar edges up, investors brace for FOMC

6:03am EST

* Dollar edges up, euro near 2-1/2-mth low before FOMC

* Focus on whether Fed statement will suggest QE wind down

* Aussie falls on GDP, Swedish crown pares gains after Riks

(Adds comment, details)

By Naomi Tajitsu

LONDON, Dec 16 (Reuters) - The dollar edged up against the euro on Wednesday, nearing a 2-1/2-month high as investors awaited a Federal Reserve policy statement for clues to when it may begin winding down its loose monetary policy.

The euro showed little reaction to improvements in the euro zone manufacturing and services sectors, while the Australian dollar fell after weak growth data prompted speculation the central bank may pause from raising interest rates.

Many analysts expect the U.S. central bank will stick to its pledge to keep interest rates at essentially zero for an "extended period" in its policy statement due at 1915 GMT, suggesting rates will not start rising until later in 2010.

Still, some in the market say a run of strong U.S. economic data shows the economy is crawling out of recession, prompting some anticipation the Fed may end fiscal stimulus measures soon.

This would be seen as the first step towards raising rates and as a positive for the dollar after the U.S. currency has suffered for most of the year on the view that other central banks will begin to raise rates before the Fed.

"The dollar has been moving higher on some expectations that the Fed might change its statement to suggest more rate rises over the next 12 months," said Marcus Hettinger, global currency strategist at Credit Suisse in Zurich.

At the same time, he noted a risk that the Fed would stick to its usual statement, which may push the dollar lower.

By 1034 GMT, the euro <EUR=> was little changed on the day at $1.4550, after sliding to around $1.4510 in early European trade. The euro fell as low as $1.4503 on Tuesday, its weakest since early October.

Technical charts showed the single currency had made a decisive break below its 100-day moving average around $1.4650 for the first time since April. Such a move is often followed by additional weakness.

Traders also cited talk of options barriers around $1.4500, with the risk that players still long on the euro after its recent slide may unwind those positions before year-end.

The euro brushed off a preliminary reading of the German PMI, which showed both manufacturing and services indices rising more than expected in December. Euro zone manufacturing and services PMI also rose more than expected. [ID:nLDE5BF0AU]

It also showed limited reaction to the European Central Bank's final 1-year liquidity operation at which banks borrowed 97 billion euros.

The euro has been stung by concerns about the health of euro zone banks after Austria said on Monday it would nationalise one of its major banks. The weak fiscal status of euro zone members, including Greece, also weighed on the single currency.


The Swedish crown <EURSEK=D4> was at 10.435 per euro, retreating from the day's high 10.405 after Sweden's central bank held rates at 0.25 percent as expected. [ID:nLDE5BE1RU]

The dollar index <.DXY> slipped 0.2 percent to 76.805, but stayed in range of a 2 1/2-month high of 77.092 hit the previous day. Against the yen, it was unchanged at 89.60 yen <JPY=>, pulling away from the day's low around 89.40 yen.

The Australian dollar <AUD=D4> fell 1.1 percent to $0.8956 after Australia's GDP grew by 0.2 percent in the third quarter, less than forecast, while dovish RBA remarks prompted investors to trim expectations for tightening next year. [ID:nSGE5BE06K]

Ahead of the FOMC statement, some analysts said the Fed may acknowledge improvements in the economy, including a much smaller-than-expected fall in U.S. non-farm payrolls last month, while adding that it may stop short of suggesting any policy changes as the economy remains fragile.

"The FOMC is likely to tweak the statement to note that conditions in financial markets have improved modestly since the last meeting," Barclays analysts said in a note.

"But the broader message should remain that the Fed does not expect to change its policy stance soon."

(Editing by Nigel Stephenson)

© 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.

Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.




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