User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday August 31, 2006 - 21:22:42 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar edges up ahead of U.S. payrolls data

NEW YORK, Aug 31 (Reuters) - The dollar crept higher on Thursday after a batch of U.S. economic data landed largely in line with expectations, prompting a bout of position squaring before Friday's keenly awaited U.S. employment report.

The Federal Reserve kept interest rates steady at 5.25 percent earlier in August, and policy makers have said slowing U.S. economic growth should moderate inflation pressures.

So payrolls growth that significantly deviates from the median forecast of 120,000 new jobs could alter the market's outlook on interest rates and sentiment on the dollar.

"Bear in mind that we have a big number (U.S. payrolls) tomorrow and we have a long weekend, so we aren't going to explode before that data," said John McCarthy, director of foreign exchange at ING Capital Markets in New York.

U.S. financial markets will be closed on Monday for the Labor Day holiday.

By late afternoon, the euro was down 0.2 percent at $1.2815 , off session lows of $1.2786.

Earlier, the dollar had slipped against the euro after European Central Bank President Jean-Claude Trichet signaled that the bank may have to raise interest rates soon to stem inflation in the euro zone.

With the market already positioned heavily in favor of euros, however, the dollar rebounded as traders squared up ahead of Friday's jobs report, a key release that could shed light on the direction of U.S. monetary policy.

Brian Garvey, senior currency strategist with State Street Global Markets in Boston, warned markets may be prone to violent moves if there is a wild swing in payrolls growth.

"We suspect economists have been lulled into a false sense of security over the stable trend in payrolls, which means markets should be more sensitive to a surprise in either direction -- even if the report is released on the Friday before the Labor Day weekend!" he wrote in a note to clients.

The market showed little reaction to comments from St. Louis Fed Bank President William Poole, who said Thursday that price stability must be the U.S. central bank's primary goal.

Separate remarks from Fed Chairman Ben Bernanke steered clear of monetary policy, focusing on productivity growth.


After the ECB held interest rates steady at 3 percent as expected, Trichet urged "strong vigilance" on inflation, seen by markets as a sign that rates are likely to rise again soon.

"The rate differential will continue to shift in favor of the euro and away from the dollar and the yen, and that's one reason you've seen the euro gain so much against the yen," said Michael Woolfolk, senior strategist at The Bank of New York.

The euro hit a record high against yen at 150.78 yen before easing to 150.35 yen , nearly unchanged on the day.

The dollar rose 0.3 percent against the yen to 117.37 yen , just below a one-month high of around 117.50 reached earlier in the session.

Many dealers have been frustrated by the market's inability to push the dollar out of narrow ranges this summer.

That could change, analysts said, pointing to Thursday's unexpectedly weak rise in the core personal consumption expenditure index, a key measure of U.S. inflationary pressures, as likely to weigh on the dollar.

The index rose just 0.1 percent in July, below market forecasts for an increase of 0.2 percent.

However, should U.S. jobs growth come in stronger than expected, the near-term direction for the euro could be down to the lower end of the $1.27-$1.29 range, Woolfolk said. (Additional reporting by Kevin Plumberg)

© 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