User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday March 1, 2010 - 11:22:36 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Euro steady as Greece news eyed; sterling slides

6:18am EST

* Hopes for Greece deal help euro, but uncertainties remain

* Sterling falls sharply on concerns about hung parliament

* Planned Prudential buy of AIG Asia unit also dents pound

By Jessica Mortimer

LONDON, March 1 (Reuters) - The euro was steady against the dollar on Monday on hopes that a support deal for Greece may be near, while sterling slid to its lowest in more than nine months versus the dollar as UK political uncertainty increased.

Sterling was by far the biggest mover among major currencies, shedding well over one percent against the dollar and the euro after a poll showed a growing risk no party will win a majority in an election due by June 3. [ID:nLDE61R07C]

This increased investor concerns that an incoming government would not be able to implement measures needed to cut UK debt. News Britain's Prudential Plc <PRU.L> was in talks to buy AIG's <AIG.N> Asian arm further dented the pound. [ID:nWLB8697] [GBP/]

The euro gained support as the market speculated that a visit by EU Economic Affairs Commissioner Olli Rehn and European Central Bank Executive Board member Juergen Stark to Athens could move EU governments closer to a deal on emergency aid. [ID:nLDE6200RI]

Concerns about debt-stricken Greece have undermined investor confidence in the single currency recently, although uncertainty over whether other EU governments will agree to support the country remained as German Chancellor Angela Merkel stressed no decision had been taken. [ID:nLDE61R0BX]

"A possible deal with Greece is helping but it is not enough to remove the worries about the debt situation in southern Europe and it has not sparked a strong euro rally," said Niels Christensen, currency strategist at Nordea.

At 1053 GMT, the euro dipped 0.1 percent against the dollar <EUR=> to $1.3610, while against the pound <EURGBP=D4> it jumped 1.5 percent to 90.75 pence, its strongest this year.

Sterling <GBP=D4> also fell more than one and a half percent against the dollar to $1.4995, its first foray below $1.50 since May 2009. It has shed more than 6 percent against the dollar this year.

"Sterling remains under major pressure on its political/fiscal woes, with latest opinion polls suggesting a very tight election in early May," ING analysts said in a note.


Traders said despite a recent bounce, sentiment on the euro remained negative. Data from the Commodity Futures Trading Commission showed net short euro positions rose to a fresh record in the week to Feb. 23. [IMM/FX]

Nordea's Christensen said this was probably deterring investors from adding further to euro short positions, while focus was switching to central bank meetings in the euro zone and UK on Thursday and key data this week. [ECB/INT] [BOE/INT]

Surveys on Monday showed manufacturing activity in the euro zone grew slightly faster than previously thought last month, though Spain and Greece continued to lag far behind. Euro zone unemployment was stable. [nLDE6200O4] [ID:nLDE6200NO]

U.S. ISM data on manufacturing activity is due at 1500 GMT. <ECONUS>

Traders said the risk of the euro falling further would increase if it ended this week below a chart support around $1.3485, which would be a 61.8 percent retracement of a move up to the November high of $1.5145 from a March low of $1.2457.

The dollar index <.DXY> rose 0.3 percent to 80.612, while the U.S. currency gained 0.5 percent against the yen <JPY=> to 89.25 yen as rising equity markets stoked some appetite for risk, weighing on the low-yielding currency.

The Australian dollar <AUD=D4> rose 0.4 percent to $0.8980 <AUD=D4>, after strong data added to investor speculation that the Reserve Bank of Australia would lift the cash rate to 4 percent at a policy meeting on Tuesday. [ID:nSGE61R02I]

The Aussie also drew support from higher copper prices after Saturday's earthquake in Chile. [MET/L]

(Additional reporting by Kaori Kaneko in Tokyo; editing by Patrick Graham)

© 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