User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday February 3, 2010 - 11:34:44 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Euro holds gains after EU backs Greek plan; dlr slips

6:27am EST

* Euro lifted by rise in equities; EU approves Greek plan

* Analysts say recent sell-off overdone

* Norwegian rate decision due

By Neal Armstrong

LONDON, Feb 3 (Reuters) - The euro held gains against the dollar on Wednesday after the European Commission backed a Greek deficit-cutting plan, easing investor worries over euro zone fiscal problems and boosting appetite for risk.

A rise in European shares also improved sentiment towards riskier assets, pushing the safe haven dollar broadly lower.

The European approved Greece's plan to reduce its budget deficit to below 3 percent of GDP by 2012, helping to narrow the spread between Greek and German government bond yields <GR10YT=RR><EZ10YT=RR>

At 1104 GMT, the euro <EUR=> traded up 0.3 percent at $1.3997, aided by the slight tightening in Greek bond spreads over German benchmarks.

Analysts said the EU approval had come as no surprise.

"The greater issue now is whether the Greek government takes this on board and implements it without too much resistance domestically," said ING currency strategist Chris Turner.

Greece's fiscal problems have fuelled selling in the euro this year, with concerns that other highly-indebted countries in the bloc may also face problems.

"We expect the problems in the euro zone will continue, other countries as well as Greece will have to make tough decisions and growth will be limited." said Johan Javeus, currency strategist at SEB.

A positive morning for European equity markets [.EU], after a strong finish in Shanghai stocks <.SSEC> on receding fears over Chinese credit tightening, also helped riskier assets.

"We are seeing a return of risk appetite as it feels like some of the recent moves have been overdone. The market is focusing on constructive data from the U.S. and the euro zone and looking to pick up currencies such as the euro and the Australian dollar as a result," said Ray Farris, currency strategist at Credit Suisse. Earlier, reports that two Chinese banks had called back some loans reminded the market of jitters over tightening measures in China and prompted some risk reduction [ID:nN02242571].


The dollar index <.DXY> <=USD> was down 0.2 percent at 78.888 but not far from a six-month high of 79.534 struck earlier this week. Traders said an Asian sovereign account was a large seller of the greenback in European trade.

The dollar has rallied in the past two weeks as investors cut positions in currencies linked to growth in China, such as the Aussie, on worries over the impact of credit tightening measures.

The Australian dollar <AUD=D4> was up 0.5 percent at $0.8900

Anecdotal evidence of the U.S. labour market will be published later on Wednesday when the Challenger jobs cuts and the ADP private-sector employment report for January will be released ahead of Friday's monthly payrolls report. <ECONUS>

Investors were also cautious ahead of a European Central Bank meeting on Thursday. As there is little expectation for a change in the ECB's monetary policy, the market's focus will be on what ECB President Jean-Claude Trichet says about Greece.

The euro was up 0.4 percent versus the yen <EURJPY=R> at 126.61 yen, while the dollar was up 0.1 percent versus the yen <JPY=> at 90.47.

Investors also awaited a Norwegian central bank interest rate decision at 1300 GMT.

"We do not expect a rate change today and think the Norges Bank will be on hold until March. In terms of the currency, the Norwegian krona has been strong versus the euro, but less so on a trade weighted basis", said SEB's Javeus.

The euro was steady against the Norwegian crown at 8.1461 crowns <EURNOK=R>

(Reporting by Neal Armstrong, editing by Nigel Stephenson)

© Thomson Reuters 2010. 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 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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