User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday April 13, 2006 - 10:23:00 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Dollar mired in ranges ahead of US data, Easter

FOREX-Dollar mired in ranges ahead of US data, Easter
Thu Apr 13, 2006 6:09am ET9

(Updates prices, adds quotes, changes byline)

By Veronica Brown

LONDON, April 13 (Reuters) - The dollar erased the previous day's gains against the euro on Thursday leaving the market in familiar ranges with investors unwilling to tweak positions before U.S. data and the Easter holiday weekend.

The dollar had rallied after the U.S. trade deficit for February came in narrower than expected at $65.7 billion on Wednesday, the third widest on record but below economists' estimates of $67.5 billion.

But it ended the day only about a third of a percent higher against the euro and analysts said its failure to make more progress meant it was likely to stay within a narrow range, even after U.S. retail sales data at 1230 GMT.

"We had fairly erratic movements after the trade data yesterday ... that's probably what we're going to get again today. If the retail numbers surprise in one direction, you may get a very sharp movement but then a subsequent reversal back to where we were before the number," Westpac currency strategist Geoff Kendrick said.

"Those levels may continue for the next few days through thin New York trading on Friday and Monday until we get the Fed minutes on Tuesday night."

Retail sales are expected to rise 0.5 percent in March from the previous month, when they fell 1.4 percent. Strong data could support the case for more rate rises from the U.S. Federal Reserve after a widely expected increase to 5 percent in May.

By 0939 GMT, the euro was about 0.12 percent up on the dollar at $1.2120 and was broadly flat versus the yen at 143.51, just over a yen below a record high hit earlier this week.

The dollar was changing hands at 118.41 yen, little moved on the day.

A trader at a Japanese bank said investors were likely to take profits after U.S. retail sales, to square positions before the long Easter weekend in markets outside Japan.

Japan's Sumitomo Life Insurance said on Thursday it was going to increase its yen bond holdings in the current fiscal year, echoing recent comments from its competitors.

Japan's state pension fund said it will put most of the 8.7 trillion yen of new money for the current business year into domestic bonds.

With Japanese bond yields rising in anticipation of higher official interest rates, the yen could benefit in the coming months as investors choose to invest at home rather than abroad.

RESURGENT KIWI

One of the biggest movers of the day was the New Zealand dollar, which jumped more than 1 percent at one point to hit a three-week high against the U.S. dollar after retail sales came in stronger than expected. It was last at US$0.6217.

The kiwi had fallen around 13 percent from the year's high as a range of downbeat economic data suggested the central bank would be forced to cut interest rates, eroding its advantage over other currencies.

"Very soft retail sales and consumer sentiment has been a key driver of NZD weakness in 2006, but today's data reverses some of that sentiment," UBS said in a research report.

But it added that "the prospects of rate cuts from June onward should continue to constrain" the currency.

Elsewhere, the Swiss franc gained about a quarter percent versus the dollar and hit a two-week high versus the euro , with the "safe haven" currency supported by rising geopolitical tensions over Iran's nuclear programme.

Earlier this week, Iran said it had produced its first batch of enriched uranium and would now pursue industrial-scale enrichment.

CHINA

Some dealers said investors may also have become cautious about buying the dollar before a Treasury Department report due next week on foreign capital flows into the United States, which have helped to finance the huge U.S. trade deficit.

The dollar found fleeting support on Thursday after China set the mid-point of the yuan's exchange rate at 8.0248 to the dollar, down 0.16 percent from a day earlier and the yuan's biggest overnight fall since its July revaluation.

Chinese President Hu Jintao is due to visit Washington next week as the yuan has shown signs of a quickened appreciation, hitting a post-revaluation high of 8.0022 on Monday.

© Reuters 2006. 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."



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