User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday August 16, 2013 - 00:42:43 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Dollar suffers sharp reversal, gold & capital flows eyed

7:50pm EDT

* USD broadly lower after sudden sell-off leaves dealers bemused

* Jump in gold and data on capital outflows among suspects

* Sterling screams higher on strong sales data, rising yields

By Wayne Cole

SYDNEY, Aug 16 (Reuters) - The dollar was nursing heavy losses in Asia on Friday after wild swings overnight left dealers struggling to find a pattern amid all the noise, setting the scene for a defensive session into the weekend.

There was a complete breakdown of correlations between markets, with the dollar reversing course, stocks sliding, Treasury yields at two-year peaks and gold screaming higher.

At one point, the greenback reached a near two-week high of $1.3205 on the euro and 98.64 against the yen. But then it abruptly crashed to as low as $1.3363 and 97.00. The dollar also turned tail on sterling and the Swiss franc.

"There was no rhyme or reason to the move," said one baffled trader at an Australian bank in Sydney. "It looks like gold went first, and then the dollar cratered. Whether that was linked is hard to say. And why is a mystery."

"But the trading range was so wide that it took out stops and orders on both sides of the market. People will only trade today if they have to."

Gold was all the way up at $1,366.69 on Friday, trading at two-month highs after being as low as $1,318.81 at one stage on Thursday. The break of major resistance at $1,350 may have triggered selling in the dollar, the dealer said.

Whatever the cause, the euro had settled at $1.3347 on Friday and faced stiff resistance in the $1.3390/3400 area. The dollar was down at 97.24 yen, having found support in the 97.00/20 zone.

The dollar index was off at 81.170, after toppling from a peak of 81.943 on Thursday.

The dollar had initially rallied early Thursday on upbeat U.S. jobless claims data, but stalled when data on industrial output and manufacturing disappointed.

Some dealers singled out U.S. data on capital flows, which showed a record $40 billion liquidation of Treasuries by foreign private investors in June. Also sold was $9 billion of agency debt, $26 billion in equities and $7 billion of corporate paper.

The selling was led by China, Japan and Hong Kong, presumably in reaction to the Federal Reserve's suggestion that it might start to taper its asset buying before year-end.

"The data highlights the conflicting forces on cross-border flows from the expected change in U.S. monetary policy related to tapering," said Alan Ruskin, global head of foreign exchange strategy at Deutsche Bank in New York.

"We are still some way off the point where tighter U.S. monetary policy is fully priced such that foreign flows are attracted into fixed-income instruments or risky assets like equities."

The pressure on Treasuries was evident on Thursday as yields on 10-year notes rose to 2.77 percent after a big bulwark at 2.75 percent finally gave way.

Among the gainers from all this was sterling, which shot up 0.9 percent on the dollar to $1.5640 as strong retail sales figures sent gilt yields to a two-year peak.

A run of solid data has seen money markets steadily bring forward the day when the Bank of England might start lifting interest rates.

Sterling overnight interbank average rates (SONIA) - the very short-term interest rates that form the basis of lending costs to the wider economy - are pricing in a first move in 18 months, compared with two years on Wednesday.

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