User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday April 26, 2006 - 10:42:33 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Euro finds resistance, just off 7-mth high vs dlr

FOREX-Euro finds resistance, just off 7-mth high vs dlr
Wed Apr 26, 2006 6:31am ET171

(Updates prices, adds fresh quotes, changes byline)

By Toni Vorobyova

LONDON, April 26 (Reuters) - The euro hovered close to the previous day's seven-month high against the dollar on Wednesday as strong euro zone data and comments from top European Central Bank officials suggested the pace of interest rate increases could accelerate.

But analysts said the euro's recent rally was tempered by tough resistance above $1.24 levels after its break last week above the $1.18-1.23 range which had held since the start of 2006.

ECB executive board member Lorenzo Bini Smaghi said that if the European economic recovery strengthened, the central bank would adjust rates to avoid inflation, in comments published in an Italian newspaper.

Meanwhile, ECB governing council member Axel Weber told Bloomberg television that risks of second-round inflation effects had risen.

Most analysts expect the ECB to wait until June before raising rates from 2.5 percent after ECB President Jean-Claude Trichet earlier this month doused widespread expectations for a move as soon as the May 4 meeting.

"We are gently exploring the upside for euro/dollar but there is significant resistance and it is going to take some time to test the upside," said Teis Knuthsen, head of FX and Fixed Income Research at Danske Markets in Copenhagen.

The euro was slightly lower on the day at $1.2416 at 0959 GMT but hovering near a seven-month peak close to $1.2440 struck on Tuesday on the back of an unexpected rise in the April German Ifo sentiment index to a 15-year high.

On Wednesday, data showed a bigger than forecast rise in euro zone industrial new orders in February, a further indication that the 12-nation economy is firmly on the recovery path and should be able to cope with higher rates.

However industrial production was flat on the month in February, against expectations for a small rise.

YEN GAINS TEMPERED

The dollar rose a quarter of a percent to 115.11 yen, pulling further away from a three-month low below 114.25 yen hit on Monday, after the G7 meeting at the weekend called on China and other emerging economies to let their currencies rise.

The euro rose 0.1 percent to 142.96 yen, recovering from a one-month low below 141.50 yen struck the previous session.

The yen's rise has been tempered by signs that Asian countries are not very keen on sharp currency appreciation, including market intervention from the Korean central bank on the won and comments from Japan's finance minister that rapid foreign exchange moves are undesirable.

"We had such strong moves on Monday morning after the G7 and the story that people really bought into was that now Asian currencies should strengthen and the dollar should fall on a broad basis," said Knuthsen at Danske Bank.

"But on a practical level this will take a long time."

RATE DECISIONS, DATA

Wednesday also sees interest rate decisions in Norway at 1200 GMT and New Zealand at 2100 GMT.

The Norwegian crown was steady versus the dollar ahead of the announcement, with the Norges Bank widely expected to keep rates at 2.50 percent this month and hike in June. But ABN AMRO's analyst Mikael Nilsson said the bank may soften its tone in light of the crown's recent strength.

The New Zealand dollar, meanwhile, was about 0.4 percent firmer versus the greenback, continuing its recovery from last month's trough as better than expected data dampens expectations of a rate cut. For now, its central bank is seen holding rates at 7.25 percent.

In the United States, March new home sales data at 1400 GMT will be eyed after it posted the biggest fall in nearly nine years in February, stoking worries of a sharp slowdown. Sales are seen rising a tad to a 1.10 million annual pace versus 1.08 million.

The data will be of particular interest after Tuesday's numbers showed a pick up in existing homes sales in March, defying expectations for a slowdown.

"People are looking at today's housing data just to see if a drop in the existing number is actually true or not. Some people like to look at housing data as a leading indicator," said Bilal Hafeez, currency strategist at Deutsche Bank.

At 1800 GMT, the Fed will release its beige book report, a summary of economic conditions in the country that central bankers will have in hand for their May 10 policy meeting. Fed chief Ben Bernanke is slated to testify before Congress on the economic outlook on Thursday.

© 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 18 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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