User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 9, 2006 - 10:12:15 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Dollar steadies but outlook vulnerable as Fed looms

FOREX-Dollar steadies but outlook vulnerable as Fed looms

(adds quotes, updates prices)

By Veronica Brown

LONDON, May 9 (Reuters) - The dollar steadied against major rivals on Tuesday but the outlook stayed shaky, with investors awaiting the U.S. Federal Reserve's rate decision on Wednesday and a key report to see if China would be named a currency manipulator.

The greenback has seen short-covering since hitting one-year troughs on Monday against the euro, sterling and Swiss franc, but sentiment has been undermined by expectations that its interest rate advantage is set to narrow.

The Fed is widely expected to lift its funds rates for the 16th straight time to 5 percent from 4.75.

But investors are uncertain about the Fed's action beyond that and are eager to see if the central bank points to a pause in the current tightening cycle in its post-meeting statement.

"The key question remains what the Fed says as opposed to what they do -- it would have to be quite a direct statement that the Fed will continue to tighten for the dollar to get a lift from here," Steve Noble, senior manager of FX sales at Lloyds TSB Financial Markets, said.

"It's probably just the case that they will allow room for the data to dictate policy from now on," he added.

The market is also focusing on a U.S. Treasury report on currency practices of trading partners due on Wednesday, with some analysts speculating that the government might name China as a currency manipulator.

Analysts said such action by the United States could trigger further gains in the yen, which is often treated as a proxy for China's yuan.

But some said it was unlikely China would be named.

"Our view is that the Treasury report may be marginally dollar-positive in the short-term given that its unlikely that they will name China as a manipulator," Westpac currency strategist Geoff Kendrick said.

By 0936 GMT, the euro was steady on the day at $1.2696, after hitting a one-year high of $1.2787 on Monday.

The dollar was down slightly at 111.57 yen after hitting an intraday trough of 111.23 yen overnight in Asian trade -- near an eight-month low of 110.97 yen hit on Monday.

It was up 0.1 percent against sterling at $1.8559 .

YEN LIFTED

The yen hit a six-week high against the euro after a media report stoked expectations the Bank of Japan will raise interest rates as soon as July.

Jiji Press news agency reported that the BOJ would upgrade its description of the economy, replacing the word "recovery" with "expansion" in its upcoming monthly assessment, driving the yen higher across the board.

Such a change would be the first since 1991 and underscores that the central bank is moving closer to boosting short-term rates for the first time in six years.

The euro stood at 141.65 yen after falling as low as 141.24, its weakest since late March.

The yen also made solid ground against the New Zealand dollar , and the Kiwi was the biggest loser against the U.S. dollar -- falling more than one percent on the day at one point beyond $0.6250 .

Analysts cited continuing pressure on commodity currencies and the prospect of a diminishing rate advantage over the yen.

The yen has surged overall since the Group of Seven economic powers last month called for countries with trade surpluses to allow more currency appreciation, singling out China and Asia.

"The market is clearly favouring the yen at the moment," said Kota Kimura, forex manager at Shinkin Central Bank. "It's not so easy to reverse that."

Japanese Finance Minister Sadakazu Tanigaki said on Tuesday that excessive movements in the foreign exchange market were undesirable but declined to comment on Japan's forex intervention policy.

Several other major events are slated for this week, including euro zone growth figures on Thursday and U.S. trade data at week's end.

© 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 15 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Thu 14 Dec
23:50 JP- Tankan Survey

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --23:50-- JP- Tankan Survey
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