User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday October 19, 2010 - 21:37:55 GMT
Reuters -

Share This Story:
| | Email

Forex Market Research - CANADA FX DEBT-C$ drops as dovish BoC holds rates, cuts outlook

5:07pm EDT
   * C$ touches as low as 96.39 U.S. cents
 * Bank of Canada hold key rate steady at 1 pct
 * Monetary Policy Report due Wednesday
 * Bond prices rise on rate pause expectations
 (Updates to close of North American market, adds quotes)
 By John McCrank
 OTTAWA, Oct 19 (Reuters) - Canada's dollar tumbled more
than 2 cents against the U.S. currency on Tuesday to touch a
near four-week low after the Bank of Canada halted its rate
hike campaign and surprised markets with the dovishness of its
 The currency CAD=D4 bottomed out at C$1.0374 to the U.S.
dollar, or 96.39 U.S. cents, its lowest level since Sept. 23,
before recovering some of those losses. On Monday, it finished
at C$1.0141, or 98.61 U.S. cents.
 The Bank of Canada kept its benchmark interest rate
unchanged at 1 percent, as expected. It also slashed it
domestic growth forecasts for 2010 and 2011 citing the
generally tepid pace of the global economic recovery,
especially in the United States. [ID:nN19118876] For full text,
please see: [ID:nN19118393]
 The central bank, which raised rates three times starting
in June, also said inflation would be softer than expected.
 "The statement is very clear," said Camilla Sutton, a
currency strategist at Scotia Capital in Toronto. "It's more
dovish than the street expected and in term of effects, it
significantly pushes out the expectations for interest rates in
 The prospect of higher interest rates tends to help
currencies strengthen because they often attract capital flows.
Just last week the currency traded one-for-one with the U.S.
dollar for the first time since April, partly because Canadian
rates are higher than U.S. rates in most maturities.
 A Reuters poll on Tuesday showed that all of Canada's
primary securities dealers expect the central bank to keep
interest rates steady at its next decision in December. Only a
minority saw rates rising in the first quarter of next year.
[ID:nN19139203] [CA/POLL]
 The Canadian dollar ended the North American session at
C$1.0319 to the U.S. dollar, or 96.91 U.S. cents.
 Canada's dollar weakened even before the Bank of Canada
decision. It fell after China's central bank surprised the
market with its first rate hike in nearly three years,
reflecting concerns over rising domestic asset prices and
stubborn inflation. [ID:nTOE63E07V]
 The greenback strengthened on a safe-haven bid after
China's move, as investors feared the higher rates would dampen
growth in China and temper its massive appetite for
commodities. [FRX/]  [ID:nBJI002412]
 U.S. crude oil future prices fell more than $2, while gold
and base metals prices also faltered. [O/R] [GOL/] [MET/L]
 Market players dumped the euro and sold off
commodity-sensitive currencies such as the Australian dollar.
Canada is a commodity-rich country, and its currency is often
affected by moves in their prices.
 "Canada had everything work against it, I mean, there was
the Bank of Canada, China's news, as well as the broader move
in the U.S. dollar all worked against it," said Sutton.
 On Wednesday, the Bank of Canada takes center stage again
with the release of its Monetary Policy Report, which will
flesh out its thinking on policy going forward.
 Canadian government debt prices were higher as rate hike
expectations diminished and the outlook for economic growth
dimmed, said Fergal Smith, managing market strategist at Action
 "The front of the curve and the belly of the curve have
outperformed because they're more sensitive to the Bank of
Canada's policy trajectory," Smith said.
 The two-year bond CA2YT=RR climbed 14 Canadian cents to
yield 1.348 percent. It yielded 1.426 percent before the
announcement. The 10-year bond CA10YT=RR rose 40 Canadian
cents to yield 2.712 percent, compared with 2.775 percent just
before the rate decision.
 Canadian bonds outperformed across much of the curve, with
the 10-year yield narrowing to 22.5 basis points over its U.S.
counterpart from 24.3 basis points on Monday.
 (Additional reporting by Jennifer Kwan, Ka Yan Ng and Claire
Sibonney; editing by Jeffrey Hodgson

© 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