User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday August 16, 2006 - 10:39:19 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Dollar steady as U.S. CPI eyed for Fed clues

FOREX-Dollar steady as U.S. CPI eyed for Fed clues
Wed Aug 16, 2006 6:14am ET253

(Changes byline, adds quotes, updates prices)

By Toni Vorobyova

LONDON, Aug 16 (Reuters) - The dollar was hemmed into narrow ranges on Wednesday as investors awaited U.S. consumer price data that could help clarify what the Federal Reserve's next move might be after leaving interest rates on hold this month.

Surprisingly weak core producer price figures pushed the dollar sharply lower on Tuesday as the data suggested the Fed may not need to boost rates further to combat inflation.

The consumer price index for July, due at 1230 GMT, may offer a clearer picture on the outlook and the wisdom of the Fed's decision to hold rates at 5.25 percent.

The core CPI is forecast to have climbed 0.3 percent from a month earlier, matching June's rise.

"After the big surprise yesterday in the core PPI numbers, I think it's fair to day that the market will not be surprised if the CPI should be soft as well," said Niels Christensen, senior currency strategist at Societe Generale.

By 0959 GMT, the euro was flat at $1.2787 after climbing 0.5 percent in the previous session. The dollar was also steady at 116.10 yen after falling half a percent a day earlier.

Redemptions of coupon payments in U.S. Treasuries were helping to support the yen, Asia-based participants said, as Japanese investors repatriated their profits into the currency from dollars.

. The single European currency was also broadly flat at 148.45 yen , within sight of the record high of 148.61 yen touched on Tuesday according to Reuters data.

The yen has repeatedly plumbed new lows against the euro amid signs that the Bank of Japan is in no hurry to raise rates again after making the first rise in six years last month, while the European Central Bank is expected to keep tightening credit.

Minutes from the BOJ's July 13-14 policy meeting released on Wednesday showed that some board members said the central bank should avoid suggesting it would be quick to raise rates.

RATES OUTLOOK

Sterling was one of the biggest movers among the majors, falling to a 1-1/2 week low against the euro at 67.71 pence and easing versus the dollar .

Minutes from the Bank of England's latest policy meeting showed six out of seven policymakers backed this month's surprise rate hike to 4.75 percent.

But the tone of the statement suggested the BoE was in no hurry to follow up the move with further tightening, with the bank even saying the hike could be reversed if necessary.

For markets, this outweighed news of faster than expected average earnings growth in the three months to June.

"Some of the text about a smaller move now means less need for larger moves later on has sparked a rally in interest rate futures and that has been weighing on the pound," said Steven Pearson, chief currency strategist at HBOS Treasury Services.

In the United States, the future outlook for rates also hangs in the balance, with investors scrutinising data for clues on whether the Federal Reserve's on-hold decision this month marked a pause or an end to its 2-year-old tightening campaign.

The dollar fell sharply on Tuesday on news that the core U.S. producer price index slipped 0.3 percent in July, declining unexpectedly for the first time since October.

Adding to the currency's woes, a separate survey from the New York Federal Reserve showed manufacturing activity in August slowed to its weakest since June 2005.

Federal funds futures on Tuesday implied the market was seeing a 36 percent chance that the Federal Reserve Board would raise rates again at its next meeting on Sept. 20, down from a 42 percent chance just before the key data landed.

RISK-SEEKING

Falling expectations for U.S. rate hikes have also contributed to reduced risk aversion in the markets. A ceasefire in the Middle East also helped to boost risk appetite by reducing geopolitical uncertainty.

The safe-haven Swiss franc fell to a four-month low against the euro at 1.5832 francs .

© 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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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