User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday May 11, 2006 - 10:19:20 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar rebounds as China avoids manipulator tag

FOREX-Dollar rebounds as China avoids manipulator tag
Thu May 11, 2006 5:59 AM ET

(Updates price, adds quotes, changes byline)

By Natsuko Waki

LONDON, May 11 (Reuters) - The dollar gained ground against the euro and yen on Thursday, extending the previous day's climb after the U.S. Treasury stopped short of calling China a currency manipulator.

But the dollar's upside was limited as investors increasingly expect U.S. interest rates to peak soon, after the Federal Reserve tightened to 5 percent as expected on Wednesday.

"We are getting a sense of deja vu as you have a one percent move before the market runs out of steam," said Trevor Dinmore, currency strategist at Deutsche Bank.

"What is needed for another leg of dollar depreciation is signs of further deterioration in the U.S. economy, soft data -- things that would indicate a Fed pause, or signs of more deterioration of the basic balance. We need reconfirmation of negative dollar factors, structural and cyclical."

By 0940 GMT, the dollar was up 0.7 percent versus the yen at 111.31 yen , recovering from Wednesday's eight-month low of 110.08.

It rose one percent against the Swiss franc at one point, while the euro fell 0.5 percent to $1.2719 , having hit a one-year high of $1.2831 the previous day.

Major currencies showed little reaction to news the Kuwait Central Bank revalued its dinar currency by one percent, which raised speculation of a similar move across the region.

The dollar tumbled on Wednesday when the Fed's post-rate hike statement failed to alter the view that the central bank, after 16 straight rate rises, is near the end of its two-year credit tightening cycle.

The Fed said it may need to raise rates again to keep inflation down, but further tightening would increasingly depend on the economic outlook.

"We are in an environment where the market is not convinced about the dollar," said Marios Maratheftis, currency strategist at Standard Chartered.

"Even if the Fed hikes once more, for which they left their options open yesterday, the extent of the hikes will be limited. The end of tightening is well within sight."


In a Reuters poll taken after the Fed statement, 14 of 20 Wall Street bond dealers said they expected the central bank to hold fire at the next policy meeting at the end of June.

In contrast, the European Central Bank is expected to hike rates in June and at least once more by year-end.

Euro zone first-quarter growth doubled to 0.6 percent on the quarter for a 2 percent annual rise, according to Thursday data.

ECB President Jean-Claude Trichet said the central bank was strongly vigilant on price risks and will act promptly if needed to tackle inflation dangers.

Trichet is speaking again in London at 1730 GMT.

Investors are looking to the Friday release of the U.S. trade deficit, which is expected to grow to $67 billion in March.

"The U.S. not accusing China for manipulating its currency is not going reduce the U.S. trade deficit with China so that will continue to be a negative for the U.S. dollar," said Niels Christensen, currency strategist at Societe Generale.

Treasury Secretary John Snow said in a statement after the report that the Bush administration was "extremely dissatisfied" with the slow pace at which Beijing was adopting a more flexible currency regime.

In response, China on Thursday said it would keep improving its FX system and increasing flexibility of the yuan exchange rate.

© 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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

John M. Bland, MBA
co-founding Partner,

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