User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday May 25, 2006 - 10:28:33 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Dollar falls amid risk aversion, China bank comments

FOREX-Dollar falls amid risk aversion, China bank comments
Thu May 25, 2006 6:18 AM ET

(updates prices, changes byline)

By Veronica Brown

LONDON, May 25 (Reuters) - The dollar fell broadly on Thursday, with growing risk aversion supporting safe-haven currencies while a call for China to rein in property lending created further drag on the greenback.

The euro was also supported by news that Russia has decided to invest 45 percent of its $71.5 billion stabilisation fund in euros.

Trading volumes were expected to remain relatively light as much of Europe is closed for Ascension Day holidays.

The dollar had been bolstered in the previous session by upbeat U.S. April housing data that tilted expectations towards the Federal Reserve raising rates in June. But April durable goods orders, also published on Wednesday, were below forecast.

China's chief bank regulator Liu Mingkang said in comments carried by the China Banking Regulatory Commission on its Web site (www.cbrc.gov.cn), that lending curbs were needed to reduce macro economic risks and for the health of the banking sector.

Analysts said the comments were a possible precursor to China raising interest rates.

"The financial market doesn't work very well in China so they often have to do administrative measures like warning banks not to lend too much," Tony Norfield, head of foreign exchange research at ABN AMRO, said.

"There's every reason why there should be an interest rate hike in China. It may not crimp growth too much, but should help reduce the attractiveness of the dollar," he added.

By 0947 GMT, the dollar was down almost 0.4 percent on the day against the yen at 112.51 , off Wednesday's two-week high of 112.97.

Against the Swiss franc, it was down around 0.2 percent at 1.2156 francs , whilst the euro was a quarter perent stronger at $1.2781

Given the uncertain outlook for interest rates in the world's biggest economy, markets have been increasingly volatile in recent weeks. The dollar has also benefited sporadically from moves in emerging markets, stocks and commodities.

"The main thing ... not just in the currency markets, but everywhere, is risk aversion," said Marios Maratheftis, currency strategist at Standard Chartered.

"The market is looking for safe havens in this environment. It's quite good for the dollar, but it's very good for the euro and also very good for the Swiss franc."

RESERVES SHIFT

The euro was also supported by news that Russia has decided to invest 45 percent of its $71.5 billion stabilisation fund in the single currency, with another 45 percent going into dollars and the remaining 10 percent into sterling.

"Authorities throughout the world will be looking to diversify their reserves, their funds. I believe this is happening in Asia, it's happening in the Middle East. It provides support for the euro," said Maratheftis at Standard Chartered.

Last month, Sweden said it had increased its euro holdings to 50 percent. Other central banks have also said they are looking to diversify their reserves.

U.S. GDP DUE

The euro zone data calendar was light. Italian business confidence unexpectedly rose to 96.8 in May, its highest level since December 2000.

The revised U.S. first quarter GDP is due at 1230 GMT with investors expecting the annual rate to be upped to 5.7 percent from the previously announced 4.8 percent.

"The focus is on U.S. Q1 GDP -- analysts are forecasting an upward revision ... and that could cause volatility," said Kris Bernie, markets economist at National Australia Bank. Signs of a strong economy could fuel expectations that the Fed will hike rates for the 17th time to 5.25 percent in June.

The biggest mover among the majors was the New Zealand dollar , which at one point gained more than one percent against the U.S. currency after New Zealand unexpectedly posted a trade surplus in April.

© 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