User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday June 9, 2006 - 20:26:38 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar caps strong week near 1-month highs

FOREX-Dollar caps strong week near 1-month highs
Fri Jun 9, 2006 4:09pm ET171
(Updates prices, adds quote)

By Steven C. Johnson

NEW YORK, June 9 (Reuters) - The dollar exited New York trade on Friday having posted its best weekly gain against a basket of major currencies in more than a year as expectations grew for another U.S. interest rate hike later this month.

The U.S. currency shot to fresh one-month highs against the euro and sterling after government reports showed that the U.S. trade deficit grew by less than expected in April, and import prices in May advanced by more than double Wall Street forecasts.

Friday's trade and import price data added to a string of comments from Federal Reserve officials this week that have suggested the central bank may keep pushing interest rates higher to combat inflation, even as the pace of U.S. economic growth slows. For details see [nN09456829]

"It's been a very good week for the dollar, and it may yet do better, at least until the Fed outlook is clearer," said Shaun Osborne, chief currency strategist at Scotia Capital in Toronto.

The dollar gave up most of its gains later in the session, and by late afternoon was little changed to slightly weaker against its main rivals.

But on the week, the dollar index <.DXY>, a measure of the greenback's value against the currencies of six major trading partners, was up more than 2 percent, its best weekly gain since March last year.

Many market participants expected the dollar to extend its gains next week.

"We've seen a bit of dollar demand come back after the euro's drop below $1.27, but given the positive data and Fed speak we've seen I wouldn't be surprised to see euro/dollar drop a bit lower again," said John McCarthy, head of foreign exchange trading at ING Capital Markets.

Late afternoon in New York, the euro was down 0.08 percent on the day at $1.2640 , after hitting a fresh one-month low of $1.2595 on electronic broking system EBS, almost four cents below a one-year high hit earlier in the week.

The euro rebounded a little from those lows as strong bids began to roll in around $1.2600, traders said, although no fundamental reason was seen behind this move.

The dollar was trading down 0.18 percent at 113.94 yen , well off its session high of 114.35 yen and below a 6-week high of 114.72 yen touched the previous day.

Sterling was down 0.18 percent at $1.8408 after slipping as low as $1.8365 after the trade data, which showed that the U.S. deficit came in at $63.4 billion in April, below expectations for a reading of $65 billion.

The U.S. dollar fell sharply against its Canadian counterpart, however, after data showed that Canada's economy added a whopping 96,700 jobs in May -- more than six times the number forecast -- and the jobless rate fell to a 31-year low.

The U.S. currency slipped to C$1.1055 from C$1.1198 before the Canadian jobs data were released.

Next week traders will be waiting for a barrage of U.S. economic data, including consumer prices and retail sales.

"Obviously, the market is very sensitive to any price data, and PPI and CPI will be crucial," said Clyde Wardle, currency strategist at HSBC in New York.

Any uptick in the inflation data would likely strengthen market expectations that the Fed will raise rates again this month and possibly beyond, extending its run of 16 straight rate rises since June 2004.

(Additional reporting by Amanda Cooper)

© 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 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 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