User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday July 18, 2006 - 23:28:09 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar posts broad gains as CPI, Bernanke loom

FOREX-Dollar posts broad gains as CPI, Bernanke loom
Tue Jul 18, 2006 4:26pm ET
(Updates prices, adds quote, recasts)
By Steven C. Johnson

NEW YORK, July 18 (Reuters) - The dollar rose to near three-month highs on Tuesday after a report showing higher U.S. producer prices in June suggested the Federal Reserve may keep lifting interest rates to combat inflation.
The greenback also gained as data showed the United States attracted a net $69.6 billion of capital inflows in May, more than enough to cover that month's trade deficit of $63.8 billion.

But the dollar pared gains slightly in late trade as investors moved to the sidelines ahead of Wednesday's consumer price data release and Fed Chairman Ben Bernanke's semi-annual testimony before Congress.

The market will monitor both events closely, hoping they shed light on the path of U.S. interest rates.

"The real event risk comes tomorrow and you're likely to see investors lighten up a bit (on dollar holdings) to reduce risk ahead of it," said Paresh Upadhyaya, currency strategist at Putnam Investments in Boston.

Investors will scrutinize the CPI data for any signs of higher inflation, which could give the Fed reason to raise interest rates, now at 5.25 percent, for the 18th straight time since June 2004 when it meets again in August.

A steeper-than-expected 0.5 percent rise in the June producer price index seemed to support that case, though the core PPI, which strips out energy and food prices, rose by a more modest 0.2 percent, in line with forecasts.

Even so, rate futures ticked lower after the PPI report, raising the implied chance of another Fed rate hike in August to around 70 percent, up from 57 percent late on Monday.

Late afternoon in New York, the euro was down 0.1 percent on the day against the dollar at $1.2505 , after touching $1.2473, its lowest since April 27.

The dollar was up 0.33 percent against the Swiss franc at 1.2522 after hitting a three-month high at 1.2557 earlier. Against the yen, it was up 0.15 percent on the day at 117.35 yen, above the previous day's three-month peak.
Sterling rose 0.43 percent to $1.8265 after data showed a large rise in UK consumer prices, suggesting the Bank of England may lift interest rates this year.

Traders said the dollar's advance on Tuesday was partly technical in nature, triggered by automatic dollar buy orders, and noted the market initially appeared to brush off the data.

Indeed, the greenback's advance ran out of steam by late afternoon as the market turned its attention to CPI and Bernanke.

The Fed chief is expected to stick closely to the tone of the statement released after the Fed's last meeting when the central bank said it expected slower growth to help moderate price pressures.

"If he mentions the word 'pause' or hints in any way that rate hikes may soon end, a lot of the dollar strength would get unwound," said Boris Schlossberg, senior currency strategist at Forex Capital Markets in New York.

But Putnam's Upadhyaya said high oil prices, driven by fighting in the Middle East and worries about Iran's nuclear program, may add a hawkish subtext to Bernanke's remarks.

"Since the Fed met in June, oil prices have gone up $3-$4 a barrel. It's very difficult for me to see him downplaying inflation risks after a move like that," he said.

The dollar has been supported since late last week as conflict between Israel and Lebanon-based Hizbollah guerrillas has prompted some U.S.-based players to repatriate cash into dollars from riskier assets such as overseas stocks.

(Additional reporting by David McMahon)
© 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

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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