User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday March 19, 2013 - 12:20:58 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Euro weakens vs dollar, vulnerable to developments in Cyprus


7:48am EDT

* Euro weak near 3-month low vs dollar on Cyprus problems

* Investors await vote on Cyprus bailout deal

* Little impact from better-than-expected German ZEW

By Anirban Nag

LONDON, March 19 (Reuters) - The euro fell on Tuesday, with investors nervous ahead of a vote in Cyprus on a controversial bank deposit levy that has fuelled concerns of fresh euro zone instability.

A Cyprus government spokesman said a plan to levy taxes on bank deposits, crucial for the country to secure financial aid, was unlikely to be approved by parliament on Tuesday. That would push the island closer to a default and a banking collapse that could have repercussions across the euro zone.

It could also inject fresh volatility into financial markets and weigh on the euro. Safe-haven German bund futures were higher On Tuesday while European stocks fell.

The single currency fell 0.1 percent against the dollar to $1.2946, holding within sight of Monday's three-month low of $1.2882. Below that, support was expected around the 200-day moving average at $1.2874.

"If the vote doesn't go through, it would lead to another precipitous fall in the euro as worries about a banking crisis will escalate," said Adam Myers, European head of FX strategy at Credit Agricole. He expects the euro to drop to $1.27 in coming months.

The euro gained a short-lived boost from a slightly better-than-expected German ZEW economic sentiment survey, but demand was hampered by worries about Cyprus.

Tohru Sasaki, head of Japan rates and FX research at JPMorgan Chase Bank, said the euro looked vulnerable. Its rebound from Monday's three-month low was much smaller than its bounce after the fall triggered by a Greek election last May, when investors were unnerved by the ruling coalition's failure to win a majority.

Against sterling, which is often bought as a shelter in times of heightened uncertainty in the euro zone, the euro hovered near a five-week low of 85.32 pence hit on Monday to change hands at 85.55 on Tuesday.

The euro also retreated against the Swiss franc, dropping 0.2 percent on the day to 1.2227 francs.


Analysts said the unprecedented plan to impose taxes on citizens' savings in Cyprus, announced over the weekend, had rattled savers in larger European countries also burdened by heavy debts, like Spain and Italy.

As a result, the more liquid dollar and the Japanese yen, often sought during times of financial instability and economic stress, should remain supported.

UBS strategist Geoffrey Yu, however, said the euro looked vulnerable but losses should be capped as long as investors did not start withdrawing funds from other euro zone countries, or rush to empty cash machines as they have done in Cyprus.

"We are not seeing huge queues at ATMs (cash machines) in Italy and Spain ... that contagion is contained. We have revised our one-month forecast in euro/dollar to $1.30," he said.

The dollar index, which measures the greenback against a basket of currencies, was close to flat on the day at 82.680.

The dollar was up 0.1 percent on the day at 95.27 yen with the Japanese currency likely to be driven by any comments from incoming governor of the Bank of Japan Haruhiko Kuroda, who assumes the post on Wednesday.

Expectations are huge for Kuroda to put in place an aggressive monetary policy to try and lift Japan out of deflation and which is likely to weaken the yen.

Market players said if the situation deteriorates in Cyprus the safe-haven yen could regain ground, pushing the dollar further away from last week's 3-1/2 year high of 96.71 yen.

Thomson Reuters 2011. All rights reserved.



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.

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 3 Dec 2018
A All Day Final Mfg PMIs
Tue 4 Dec 2018
A 04:30 AU- Reserve Bank Decision
Wed 5 Dec 2018
A All Day Final SVC PMIs
A 04:30 AU- CPI
A 13:15 US- ADP Jobs
A 13:30 US- Productivity
A 15:00 CA- Bank Of Canada Decision
A 15:30 US- EIA Crude
B 19:00 US- Beige Book
Thu 6 Dec 2018
AA 12:45 EZ- ECB Decision
AA 13:30 US/CA- Trade
A 13:30 US- Weekly Jobless
Fri 7 Dec 2018
A 10:00 EZ- GDP
AA 13:30 US/CA- Employment
A 15:00 US- Final Univ of Michigan

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