User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday May 21, 2010 - 20:40:06 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Euro, Aussie dollar rally on intervention talk

2:47pm EDT

* Euro broadly higher, short squeeze continues

* Fears of currency intervention grow

* Australian dollar jumps but still sharply down on week (Adds comment, updates prices, changes byline)

By Wanfeng Zhou

NEW YORK, May 21 (Reuters) - The euro rose on Friday, heading for its first weekly gain versus the U.S. dollar in six weeks as investors who had bet on the currency's fall bought it back on fears of currency intervention.

The Australian dollar jumped on speculation Australia's central bank may step in to support the currency. The Aussie dollar is on track for its its biggest weekly drop since 2008, hammered by worries the euro zone debt crisis could hinder a global economic recovery.

The euro gained for a third straight session after German lawmakers approved their country's contribution to a 750 billion euro bailout package, and as European finance ministers met in Brussels to discuss changes to the way the 27-nation bloc manage public finances. [ID:nLDE64K17F].

"With the immense amount of short positions in the market and EU leaders rushing to put together a lasting remedy, the euro has certainly found its footing," said Andrew Wilkinson, senior analyst at Interactive Brokers Group in Greenwich, Connecticut.

"There has also been some market rumors that central banks would intervene, which in my mind is an unlikely event. However, the very suggestion is enough to make investors pare positions," he added.

In afternoon trading in New York, the euro traded 0.9 percent higher at $1.2575 <EUR=> <EUR=EBS>, after climbing as high as $1.2673 on electronic trading platform EBS. It is poised to end the week 1.8 percent higher against the dollar, following five weeks of losses.

The euro zone single currency tumbled to a four-year low of $1.2143 on EBS on Wednesday after Germany banned naked short selling in some securities, fueling speculation about other possible market regulations.

The Australian dollar <AUD=D4> rose 1.5 percent against the U.S. dollar to $0.8276, pulling back from its lowest level since July 2009 hit on Thursday and on track for a weekly loss of 6.6 percent. It was also up 3.3 percent against the yen <AUDJPY=R>.

"The aussie/yen is a good proxy for the risk trade and the yen has done well on the move away from risk in Europe," said David Kupersmith, head trader at Third Wave Global Investors, a global macro hedge fund in Greenwich, Connecticut. "It has nothing to do with the economic situation in Australia or Japan though there are signs Australia is slowing down."


Germany's parliament approved a bill to allow Berlin to contribute to the European rescue aid for Greece and other euro zone nations plagued by debt problems. Merkel said on Friday the vote sends a strong signal on "European stability culture." [ID:nSGE64K06K]

The euro has fallen roughly 5.5 percent against the dollar this month. Its steep decline has cranked up speculation European officials may be concerned about its level.

It also got a boost after European Central Bank President Jean-Claude Trichet said on Friday the euro was not in danger and was a credible currency. See [ID:nWLA4690]

"It's very possible that we've seen a medium-term low. We could be back at $1.30 this time next week," Interactive Brokers Group's Wilkinson said, referring to the euro/dollar.

Against the Swiss franc, the euro <EURCHF=> traded 0.5 percent higher at 1.4434, having recovered sharply from a slide to an all-time low around 1.3995 francs earlier in the week.

Concerns harsh fiscal tightening in Europe may hinder global growth have heightened fears about risk and prompted a rush to square positions across asset classes this week.

"Risk aversion has risen so rapidly that in order to protect their books, investors are just closing positions and repatriating capital," said Carl Hammer, currency strategist at SEB in Stockholm, adding: "It's a snowball effect."

The U.S. dollar rose 0.3 percent to 89.79 yen <JPY=>, while it fell 0.8 percent to C$1.0618 <CAD=>. (Additional reporting by Nick Olivari; Editing by Diane Craft)

© 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