User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday April 20, 2006 - 10:46:58 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Dollar moves off 7-month low vs euro, data in focus

FOREX-Dollar moves off 7-month low vs euro, data in focus

(Updates price, adds quotes, changes byline)

By Veronica Brown

LONDON, April 20 (Reuters) - The dollar edged up from the previous session's seven-month low against the euro on Thursday ahead of a key U.S. business activity survey that could give further clues on when U.S. interest rates might peak.

Low borrowing costs in Japan were cited as a broad pressure on the yen, which fell to a record low against the euro for the second day running.

The dollar has been under broad pressure this week after the Federal Reserve signalled its two-year campaign of raising short-term rates was nearly over. The International Monetary Fund said on Wednesday the dollar needed to fall significantly to help fix global imbalances.

Now the market is looking to the Philadelphia Fed's business activity survey for April, due at 1600 GMT.

"Overall sentiment hasn't changed significantly, obviously we've had a reversal and the selling has ceased temporarily... But the strength of the dollar has been relatively modest," Derek Halpenny, currency economist at Bank of Tokyo Mitsubishi, said.

By 1020 GMT, the dollar was up nearly a third of a percent at $1.2347, having fallen to a seven-month low of $1.2394 on Wednesday.

The single European currency was steady against the yen, having earlier hit a lifetime peak of 145.49.

Sterling took a hit, falling half a percent on the day against the dollar, after weaker than expected inflation figures.

"We might see a pullback to $1.23 or $1.2280 (euro/dollar) but we see buying interest there. The dollar is weighed down by this interest rate speculation -- the Fed might end the hiking cycle at maybe 5 percent -- and the IMF comments," said Antje Praefcke, currency strategist at Commerzbank in Frankfurt.

The dollar was up 0.3 percent at 117.56 yen .

Chinese President Hu Jintao helped ease speculation about greater yuan strength or flexibility against the dollar during his trip to the United States this week, saying the yuan was not ready for a drastic change in value.

Euro zone consumer prices for March eased to 2.2 percent year-on-year from 2.3 percent in February, in line with forecasts. In the United States, Fed chairman Ben Bernanke speaks via satellite.

RATE OUTLOOK

The outlook for central banks and short-term rates is still the dominant factor in currency markets, with the Fed's change of tone driving the dollar down more than 2 percent against the euro so far this week.

With the European Central Bank seen raising short-term rates to 3 percent or possibly higher this year and the Bank of Japan expected to push rates up from zero sometime in the third quarter, the dollar's rate advantage is seen eroding.

CB Governing Council member Axel Weber said central banks need to remain vigilant to the risk of second-round effects from high oil prices in order to anchor inflation expectations.

The minutes of the Fed's March meeting said that many central bankers felt they were nearly done with tightening policy and recognised the risk of pushing rates up too far.

San Francisco Fed President Janet Yellen said in an interview with CNBC on Wednesday that growth was expected to slow, and with inflation contained, the Fed was pretty close to taking a break.

The Fed is still widely expected to raise rates to 5 percent at its next policy meeting in May but then take a break from the string of credit tightening launched in June 2004, when the fed funds rate was 1 percent.

Even a surprisingly big pick-up in the March core consumer price index did little to boost the beleaguered dollar.

"The market seems unfazed by the CPI data. Sentiment has already shifted and is more positive on the euro," said Sharada Selvanathan, currency strategist at BNP Paribas in Singapore.

Looking ahead, Barclays analysts said in a note to clients that this weekend's G7 meeting in Washington could result in a change in its statement to strengthen language on elimination of global trade imbalances.

"The market may interpret any shift in this direction as acceptance by G7 authorities that reducing imbalances is becoming a higher priority and such a shift in emphasis is generally USD negative," the bank said.


© 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