User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday July 15, 2010 - 22:27:32 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

Forex News - CANADA FX DEBT-C$ dragged lower by weak U.S. data; bonds rally

4:46pm EDT

* C$ ends at 96.26 U.S. cents

* Weak U.S. data raises concerns about recovery

* Bonds gain in risk aversion play (Updates to close, adds quote)

By Jennifer Kwan

TORONTO, July 15 (Reuters) - The Canadian dollar touched its lowest level in nearly a week against the greenback on Thursday, hit by U.S. data that fueled worries about the economic health of Canada's biggest trading partner.

Investor sentiment soured after a gauge of factory activity in New York state fell sharply and a third monthly drop in wholesale prices in June fueled worries about deflation. [ID:nEAH104F00] [ID:nN15196157]

The currency fell to C$1.0443 to the U.S. dollar, its lowest level since July 9, as the U.S. data sparked a broader selloff in riskier assets, sending U.S. Treasury bonds higher and weighing on global equities -- though Toronto's main stock index .GSPTSE ended 1 percent higher thanks to a late rally [.TO].

"(It's) worries over what's happening with the U.S. in terms of weak data, a weak equity market. I guess the question is, is that going to have an effect on Canada and slow down the Canadian economy," said Steve Butler, director of foreign exchange trading at Scotia Capital.

"That's really the biggest fear right now."

The Canadian dollar CAD=D4 ended at C$1.0388 to the U.S. dollar, or 96.26 U.S. cents, down from Wednesday's close at C$1.0341 to the U.S. dollar, or 96.70 U.S. cents.

The U.S. dollar fell broadly on Thursday, and the euro soared as soft inflation and manufacturing data added to concerns about the strength of the U.S. economy. [FRX/]

"The market is starting to change its tone now. The darkest fears about Europe are starting to dissipate and attention is turning over to the U.S.," said Butler.

There is a reversion back to "more longer-term fundamentals and based on the weakening sentiment with respect to U.S. economics," said Jack Spitz, managing director of foreign exchange at National Bank Financial.

"Money is flying out of the States and back into euro, away from commodities and away from commodity-related currencies."

The weak U.S. data added to jitters fueled by data from China that showed a slowdown in its economy. [MKTS/GLOB]

It also comes a day after minutes from a U.S. Federal Reserve meeting showed policymakers felt they should stand ready to do more to boost the economy if the outlook worsens.

The soft data also weighed on commodity prices, notably the price of oil, which fell below $77 a barrel. Canada is the No. 1 exporter of oil to the United States. [O/R]

Scotia's Butler said key technical levels include C$1.0411 to the U.S. dollar, or the 55-day moving average, and C$1.0412, which is the 200-day moving average.

"A lot of technicians will look at when those moving averages cross. If Canada continues to weaken off they'll likely cross and that will turn people from bullish (on the Canadian dollar) to bearish," said Butler.

BONDS HIGHER

Canadian government bond prices followed their U.S. counterparts higher on Thursday as the weak U.S. data guided investors to the relatively safety of government debt. [US/]

"The market still has that underlying fear that a weaker U.S. economy is going to be tough for the Canadian economy. It's not 100 percent correlated, but the market has got that in the back of their mind. It's a bit of a worry," said Butler.

The next key Canadian-driven event for the market will be the Bank of Canada's interest rate announcement on July 20, and market expectations are leaning toward a rate increase. BOCWATCH

Canadian primary dealers and global forecasters surveyed by Reuters expect the bank will raise its key overnight interest rate next week by 25 basis points to 0.75 percent, though the pace of subsequent hikes is less clear. [CA/POLL]

The two-year bond CA2YT=RR was up 12 Canadian cents to yield 1.654 percent, while the 10-year bond CA10YT=RR added 25 Canadian cents to yield 3.773 percent.

Canadian bonds notched a mix performance versus U.S. issues. The two-year bond underperformed, with the yield CA2YT=RR 104 basis points above its U.S. counterpart, compared with about 110 basis points in the previous session. (Additional reporting by Ka Yan Ng; editing by Rob Wilson)

© 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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

Global-View.com 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 Global-View.com. 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.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105