User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday September 8, 2006 - 11:49:37 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Yen edges off one-month high vs euro after Fukui

FOREX-Yen edges off one-month high vs euro after Fukui
Fri Sep 8, 2006 7:06am ET162

(Changes byline, adds quotes, updates prices)

By Sujata Rao

LONDON, Sept 8 (Reuters) - The yen hovered below a one-month peak against the euro on Friday after Bank of Japan governor Toshihiko Fukui said he did not expect the yen to be at the centre of talks at the upcoming Group of Seven meeting.

Fukui also said the BOJ would raise rates gradually which, analysts said, would keep the yen at a disadvantage in terms of interest rate differentials with the U.S. and euro area.

The dollar also traded near six-week highs against the euro, receiving a further boost after U.S. Treasury Secretary Henry Paulson said he was very much in favour of a stronger dollar.

The G7 gathering in Singapore next week has loomed large as investors look to see if finance ministers keep up pressure on countries enjoying big trade surpluses, notably China, to allow more currency appreciation.

The yen, which recently hit record lows against the single European currency, has gone up and down in line with comments about where it stands on the agenda of the meeting.

It jumped on Thursday after a German finance official said the Japanese currency's weakness would be discussed.

"Fukui didn't really say anything that was net yen positive or (give) sufficient commentary on the outlook for future (policy) tightening shifts in Japan. The market was probably positioned slightly long yen for that so that's why euro/yen has rallied slightly," said Chris Turner, head of global currency strategy at ING Bank in London.

The euro was trading around 148.05 yen by 1050 GMT, having hit a one-month low of 147.57 earlier, according to Reuters data. Euro/yen recently hit record highs of 150.78.

The dollar stood at 116.49 yen down 0.17 percent on the day, having earlier slipped 30 ticks in a knee-jerk reaction to Fukui's comments.

Analysts say long euro positioning indicates yen strength may have further to run and profit taking is likely after a spate of carry trades last month that involved selling yen to fund purchases of higher yielding currencies.

"The risks are skewed for further corrective activity," Turner said. "There may be further commentary from European officials so on balance it's not a good week to be short yen in the run up to the G7."

G7 EXCHANGE RATE TALK?

In April, in an annex to the post-meeting statement, G7 finance ministers called explicitly for appreciation of currencies of emerging countries with big trade surpluses to help fix global imbalances, sparking a rally in the yen.

Japanese finance minister Sadakazu Tanigaki has said the G7 will discuss exchange rates when they meet, but declined to say if the yen would be at the centre of the talks.

The European Union weighed in on Friday, calling on the International Monetary Fund to boost surveillance of the world's currencies.

But looking beyond the G7, analysts say Fukui's insistence that interest rates will be raised only gradually beyond the current 0.25 percent is yen-negative. The BOJ held rates steady at its two-day long policy meeting that ended on Friday.

"If Japanese policy rates remain steady for the remainder of the year the yen will face downward pressure for a while before starting to appreciate into the next year when BOJ restarts the rate hike (cycle)," Citigroup analysts wrote in a note.

"We reiterate the view...that the era of yen weakness has not ended."

Rate expectations have helped the dollar move higher against the euro and hold its own versus yen, as strong U.S. labour data this week rekindled expectations the Federal Reserve may raise rates again after pausing its two-year long tightening cycle last month.

The euro stayed near recent six-week lows against the dollar at $1.2711 , shrugging off comments from European Central Bank governor Jean-Claude Trichet who reiterated that "strong vigilance" was needed to ensure price stability.

U.S. Treasury Secretary Paulson, in Vietnam for the Asia-Pacific Economic Cooperation (APEC) forum, said he supported a strong dollar and believed the value of the currency should be set in open markets.

U.S. July consumer credit data due at 1900 GMT may provide clues on where the central bank might go next on rates. A speech by Cleveland Fed President Sandra Pianalto will also be scrutinised.

Elsewhere, sterling hit a one-month low against the dollar for the second day running, pressured by the U.S. rate rise speculation and uncertainty over the future of British Prime Minister Tony Blair.

© 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