User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday June 4, 2010 - 22:27:03 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Euro slides below $1.20 on Hungary debt fears

4:22pm EDT

* Euro falls below $1.20 for 1st time in more than 4 years

* Dollar falls vs yen after below-consensus U.S. jobs data

* Worries about Hungary's finances weigh on euro

* Yen, Swiss franc benefit from safety bid (Recasts, updates prices)

NEW YORK, June 4 (Reuters) - The euro fell below $1.20 for the first time in more than four years on Friday on concern that Europe's debt crisis is expanding and as U.S. stocks slid more than 3 percent.

Investors shunned riskier assets and bought currencies perceived as safe-havens, such as the yen and Swiss franc, as a government report showed U.S. non-farm payrolls grew at a slower-than-expected rate in May. The slump in equities added to the safety bid.

Analysts said the jobs data reinforced the view the U.S. economic recovery may be slow. For details, see [ID:nLDE65306M]

Growing concerns that Hungary could be facing a Greek-style debt crisis weighed on sentiment toward the euro as the Hungarian forint fell to a one-year low against the euro EURHUF=R.[ID:nLDE65306M]

"The euro was already getting hammered on worries about Hungary, and with the non-farm payrolls not living up to expectations the risk trade is under assault from every angle," said Boris Schlossberg, director of currency research at GFT Forex, in New York.

The euro fell as low as $1.1955, according to EBS trading platform, and in midafternoon trading in New York was 1.6 percent lower at $1.1959 EUR=.

U.S. employers created 431,000 jobs in May, the Labor Department said, below the 513,000 predicted by analysts polled by Reuters. The jobless rate fell more than expected to 9.7 percent from 9.9 percent in April. [ID:nOAT004640]

"It's mainly disappointing," said Vassili Serebriakov, senior currency strategist at Wells Fargo Bank in New York. "The pace of the recovery in the jobs sector is not as fast as some of the optimistic expectations in the market."

Against the yen, the dollar was down 1.1 percent at 91.64 yen JPY=, after hitting a session low of 91.43 yen, according to Reuters data. The yen also rose against the euro and the Australian and New Zealand dollars.

"The data is clearly risk negative and the purest currency trades are short commodity currencies versus the Japanese yen," said Alan Ruskin, head of currency strategy at RBS Global Banking & Markets, in Stamford, Connecticut. "But the most pressing problems are in Europe."

For the week, the euro fell 2.5 percent against the dollar, bringing its two-week decline to 4.6 percent, the biggest since the two weeks ended Nov. 2, 2008.

The dollar rose 0.7 percent against the yen this week, with a cumulative increase of 1.6 percent over the last two weeks at current prices.



Selling pressure on the euro started prior to the U.S. jobs report, with the single currency hitting its lowest level against the dollar in more than four years after comments by French Prime Minister Francois Fillon on exchange rates.

Fillon said he was not concerned by the current level of the euro to the dollar and that he saw only "good news" in the parity between the two currencies. Later the remarks were clarified saying his reference to "parity" was about the general evolution of the exchange rate between the euro and the dollar. [ID:nWEA4967]

Still, the comments also caused the euro to fall steeply against the Swiss franc, which traders attributed to an absence of bids from the Swiss National Bank, which has recently intervened to keep the franc from appreciating.

The euro fell 1.2 percent against the Swiss franc EURCHF= and 0.7 percent against sterling eurgbp=.

A daily close under the 50 percent retracement of the 2000-2008 euro rally at $1.2135 would be seen as a bearish signal for the euro, technical analysts said.

Hedge fund adviser Medley Global Advisors issued a report saying China is buying euro-denominated assets in order to underpin the currency, which may have contributed to a slight strengthening in the euro against the dollar earlier. [ID:nN04121759]

The Australian dollar fell AUD= 2.6 percent against its U.S. counterpart while the New Zealand dollar plunged 2.1 percent NZD=. Sterling slipped 1 percent against the dollar to $1.4466 GBP=. (Reporting by Nick Olivari and Vivianne Rodrigues; Additional reporting by Steve C. Johnson and Gertrude Chavez-Dreyfuss; 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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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