User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday August 18, 2006 - 22:15:18 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar near flat vs euro despite soft U.Mich data

FOREX-Dollar near flat vs euro despite soft U.Mich data
Fri Aug 18, 2006 4:20pm ET167

(Recasts; updates prices, changes byline)

By Nick Olivari

NEW YORK, Aug 18 (Reuters) - The dollar was little changed against the euro on Friday in a seesaw session that saw it trade mixed against the single European zone currency in thin volume.

The dollar initially fell on University of Michigan consumer sentiment data, which reinforced the view that U.S. economic growth is slowing. For details, see [ID:nN18381756]

But the greenback then reversed those losses as investors focused on inflationary expectations that rose to the highest since October.

The dollar was down against the yen after China raised interest rates in an effort to tame a boom in credit and investment.

"The initial reaction was people looked at the headline number and the expectation and the dollar went lower," said Ron Simpson, managing director of currency analysis at Action Economics in Tampa, Florida. "But then it dawned on people that inflation is still going to be a focus going forward."

The data were in contrast to government figures released earlier in the week, which showed inflation pressures moderating in July and depressed the dollar.

In late afternoon trading, the euro was near flat at $1.2825 , although it moved well above a session low of $1.2781 on electronic trading system EBS

Some credited the euro's swings during the day with investors squaring positions before the weekend following a heavy week of data, said Michael Jansen, currency strategist at the National Australia Bank in New York.

The yen recovered from record lows against the euro, after China raised key interest rates by 27 basis points, though it was also off the day's highs as the trading day progressed.

Traders speculated that China's rate rise, its second in four months, could precede other measures to curb China's overheating economy, including a freer yuan.

The yen often is traded as a proxy for the yuan because it is Asia's most liquid currency and Japan has close trade ties with China.

The euro was down 0.1 percent on the day against the yen at 148.55 yen . The dollar was last down 0.1 percent against the yen at 115.79 yen .

Some analysts expected the yen's gains to be fleeting. If interest rate rises and other administrative measures taken by China succeed in slowing its economy, pressure on the yuan to appreciate may even ease, some said.

"We've seen a kneejerk move driven by people using the yen as a surrogate to go long on the yuan," said Alan Ruskin, chief international strategist at RBS Greenwich Capital. "But it's unlikely to change the overall trend of yen-selling."

The dollar gained against other currencies, however, as speculators trimmed positions ahead of the weekend, paring back their bets in favor of the euro and sterling, which recently rose to record levels.

"The market has been gorging itself on foreign currencies and is suffering from indigestion," said Marc Chandler, head of global currency strategy at Brown Brothers Harriman in New York.

Sterling dipped and remained lower after news passengers on a flight operated by a British low-cost airline had been evacuated after a bomb scare. Police said the scare appeared to be a false alarm.

Sterling was down 0.2 percent at $1.8816 .

The dollar is set to end this week slightly lower against a basket of major currencies <.DXY>.

The tame inflation data earlier in the week and a series of reports suggesting the economy is cooling have raised speculation the Fed will leave its key rate on hold again at its September meeting after standing pat at 5.25 percent last month following 17 straight rate hikes.

In contrast, other central banks including the European Central Bank look poised to raise interest rates in the coming months, reducing the dollar's allure.

© 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 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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