User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday October 22, 2010 - 22:40:11 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX NEWS-Dollar set to snap 5-week losing run as shorts trimmed

4:53pm EDT

* Dollar index heads for first weekly gain since mid-Sept

* FX Concepts see euro topping out between $1.43-$1.45

* Geithner urges G20 not to use FX for economic advantage (Updates prices, adds detail, comment)

By Wanfeng Zhou

NEW YORK, Oct 22 (Reuters) - The dollar was on track on Friday to snap a five-week losing streak against major currencies on uncertainty ahead of the outcome of a meeting of global finance ministers and as the euro repeatedly ran into resistance above $1.40.

Extreme bets against the greenback also prompted investors to moderate their dollar selling. The dollar .DXY has lost some 7 percent against a basket of major currencies during a five-week swoon. It was up 0.6 percent this week, on pace for its first weekly gain since mid-September.

Currency speculators further reduced bets against the U.S. dollar in the week ended Tuesday, data from the Commodity Futures Trading Commission showed, with the value of net short U.S. dollar positions down to $25.8 billion from $29 billion. See [ID:nN22197145]

Once a G20 meeting on currency imbalances is out of the way the greenback will fight an uphill battle, analysts said.

The Federal Reserve is widely expected to announce more monetary easing next month, likely through buying U.S. Treasury debt. The direct purchases would pressure U.S. bond yields and further diminish the return on dollar-denominated assets.

"Once we get past the G20 event, we're going to have that renewed focus on what's going on with the U.S. quantitative easing and another down leg in the U.S. dollar," said David Watt, senior currency strategist at RBC Capital Markets in Toronto. "There's the possibility of a renewed upswing in the euro."

The euro EUR= was last little changed at $1.3935, off a session peak of $1.3973, according to trading platform EBS. The euro is up 9 percent against the dollar since September, though it has failed to hold ground on several occasions above $1.40.

Near-term resistance comes in at last week's high of $1.4161, which is followed by $1.4376, the 76.4 percent retracement of the euro's fall from November to June.

G20 finance and central bank chiefs meet on Friday and Saturday in South Korea, and a G20 source said officials were unlikely to reach an accord rejecting currency devaluations and capping current account balances, after U.S. proposals ran into stiff opposition. See [ID:nLDE69L0JA]

A failure to reach agreement could free traders to keep selling dollars in favor of the euro, emerging market and commodity-linked currencies, such as the Australian dollar.

"A new currency accord will be hard to achieve in principle and even harder to push through in practice over the hurdles of domestic political pragmatism," said Lena Komileva, head of G7 market economics at Tullett Prebon.

EURO NEAR PEAK?

Interest rate spreads have continued to move in favor of the euro in recent days, with U.S. yields falling as yields on German government debt rise. The move was driven in part by expectations that euro-zone countries are planning to tighten policies, even as the Fed is set to ease further.

But eventually growth differentials may shift in the dollar's favor if Fed policy perks up the economy in early 2011, just as euro-zone governments begin to slash spending and raise taxes to get public spending in order.

John Taylor, chief investment officer of FX Concepts, expects the euro to peak between $1.43 and $1.45 and says it could sink to parity with the dollar in 2011. [ID:nN22169755]

"I just don't see all this bullishness on the euro. I don't think talk about exit strategies from the (European Central Bank) is right," said Taylor, who oversees the world's largest currency hedge fund with about $8.5 billion under management.

Some traders said the euro will likely stay in its recent range of between $1.3650 and $1.4150 in the near term as investors wrestle with uncertainty over the size of expected U.S. monetary easing program.

Mark McCormick, strategist at Brown Brothers Harriman in New York, said the euro's five-day and 20-day moving averages against the dollar are converging, a bearish short-term sign. Traders also said a weekly close below $1.3929, the euro's 200-week moving average, would signal dollar gains.

The dollar was flat at 81.34 yen JPY=, not far from a 15-year low of 80.84 yen set earlier this week. (Additional reporting by Gertrude Chavez-Dreyfuss and Steven C. Johnson; Editing by Andrew Hay)

© 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 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

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