User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday April 9, 2010 - 20:49:15 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Greek aid hopes boost euro against dollar

4:27pm EDT

* Speculation grows Greece may receive aid soon

* Fitch cuts Greece by two notches, says outlook negative

* EU officials reach deal on Greek loan terms -source

* Canadian dollar slips after jobs data (Updates prices, adds detail about Greek loan terms)

By Steven C. Johnson

NEW YORK, April 9 (Reuters) - The euro rose on Friday after an EU source said euro zone leaders had agreed to terms of a possible emergency loan aimed at helping Greece manage a worsening debt crisis.

The news allowed traders to shrug off a downgrade by Fitch of Greece's credit rating by two notches, to one grade above junk status. For more see [ID:nLDE6380QK].

Fitch Ratings cited Athens' fiscal challenges and uncertainty about how a European Union-International Monetary Fund aid program agreed last month would be applied. [ID:nWNA7955]

The clarity on a rescue plan for Greece that emerged on Friday helped spark a rally that lifted the currency to just shy of $1.35, its highest since Monday. But traders said the longer-term outlook for the euro remained negative.

"The Europeans are cognizant of the fact that they can't ignore Greece, that it's not an itch that will go away if you don't scratch it," said Firas Askari, head of FX trading at BMO Capital Markets in Toronto.

"But the reality is that any solution is probably a poor one, and by inviting the IMF to the party, one has to wonder what the purpose of the European Union is," he added. "So I think any rally in the euro is probably short-lived."

The euro rose 1 percent to $1.3490 <EUR=>, well off a $1.3341 session trough. It gained 0.6 percent to 125.58 yen <EURJPY=>. The dollar slipped 0.2 percent to 93.19 yen <JPY=>.

Sterling rose to a six-week high near $1.54 and was last up 0.7 percent to $1.5376 <GBP=> while the Canadian dollar dipped to C$1.0040 <CAD=> per U.S. dollar after Canada reported that fewer jobs were added in March than economists had expected. [ID:nOTT003895]

Investors continued to watch China's yuan after The New York Times reported this week that the government was close to announcing a shift in its currency policy. [ID:nTOE63707P] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

For Insider on yuan revaluation:

For graphic on Greek and euro zone economy here ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


Investors in recent months have steadily sold Greek assets, a trend that began when the country revealed last year that its 2009 budget deficit was twice as high as markets thought.

Greece's borrowing costs have risen amid doubts about whether the euro zone country can remain solvent.

The euro is still down almost 6 percent versus the dollar so far this year and earlier this week it fell below $1.33, near its lowest level in 2010.

Euro zone sources told Reuters on Friday that Greece would likely have to pay more than 6 percent for a three-year emergency loan. Three-year Greek government bonds were yielding 7.1 percent Friday. [ID:nBRM002153]

"The market had gotten quite negative on the euro and what we're seeing is a bit of a squeeze of some of those euro shorts," said Aroop Chatterjee, currency strategist at Barclays Capital in New York.

But he said lack of clarity on a Greek bailout and weak euro zone economic data will continue to hurt the currency.

For now, BMO's Askari said, "the euro could snap back to $1.37 in a heartbeat, just based on positioning. But in the longer term, I just don't want to be long the euro." (Additional reporting by Wanfeng Zhou; Editing by Leslie Adler)

© 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

Mon 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 14:00 US- Prelim 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