User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday September 18, 2006 - 19:30:13 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Dollar hits five-month high vs yen on G7 relief

FOREX-Dollar hits five-month high vs yen on G7 relief
Mon Sep 18, 2006 3:10pm ET163

(Updates comments, prices)

By Amanda Cooper

NEW YORK, Sept 18 (Reuters) - The dollar hit a five-month peak against the yen on Monday after the weekend's meeting of finance ministers of the Group of Seven rich nations produced no explicit calls for a rise in the value of Asian currencies.

The dollar managed to shrug off data that showed a worsening in U.S. finances, but was still down against the euro, which was supported by comments from euro zone policy officials which helped cement expectations the European Central Bank has plenty of room to raise interest rates.

The euro edged steadily higher over the course of the New York afternoon trading session against both the dollar and the yen as investors gradually turned their sights from the outcome of the G7 toward Wednesday's Federal Reserve policy meeting.

"It (the euro) kind of found support down around the lows where we were on Friday, in the $1.2625-30 area and held down there and caused a few of the shorts to cover a little bit. At the end of the day, there's still not-too-bad European data coming out and we've got a Fed meeting," said Michael Jansen, senior market strategist at National Bank of Australia.

"That's probably going to be a little bit dovish and I don't think people want to be too short the euro going into it because you could actually see the euro getting some good support coming out of the Fed meeting," he said.

The Fed is widely expected to leave U.S. rates at 5.25 percent for a second meeting in a row, which calls into question the dollar's ability to keep rallying especially when the European Central Bank is expected to keep hiking rates.

By mid-afternoon in New York, the dollar was up against the yen by 0.3 percent at 117.99 yen , which earlier hit a five-month low of 118.28.

The euro was up 0.4 percent at $1.2695 , having bounced from an intraday low of $1.2632, and was up 0.6 percent against the yen at 149.80 yen.

The G7 meeting in Singapore did not specifically single out the yen in its communique, which dampened a rally in the Japanese currency sparked by ECB President Jean-Claude Trichet, who told reporters the G7 agreed the yen would reflect Japan's economic recovery.

Japanese Finance Minister Sadakazu Tanigaki said the yen's recent drop to record lows per euro had been a bit "wild."

The muted reaction was in sharp contrast to the last G7 meeting in April, which prompted a sharp fall in the dollar after calls for Asian countries including China to let their currencies rise to help resolve trade imbalances.

And with the G7 now out of the way, investors are showing greater appetite for risk and are eagerly seeking higher-yielding investments, which they finance by selling lower-yielding currencies such as the yen.

The euro's rise on Monday was also triggered in part by fairly hawkish comments from euro zone monetary officials who told Reuters the central bank expects to continue raising interest rates in 2007.

Earlier, Governing Council member Klaus Liebscher said he saw a "rising danger of rising inflation," adding to a string of recent hawkish comments from ECB policymakers.

"It clearly reaffirms that they are hell-bent on raising interest rates in the short-term, which is one of the reasons why euro/yen is unlikely to go any lower soon, said Tobias Thygesen, senior analyst at Danske Markets in Copenhagen.

The dollar managed to overlook a report from the Treasury Department that showed net capital inflows into U.S. assets hit their lowest level since May 2005 in July and did not come even close to covering the record $68 billion trade gap for that month. For more details please see [ID:nN18266116].

The Swedish crown, meanwhile, rallied after the election win by the opposition center-right alliance, which had vowed to cut taxes and trim back the welfare state to boost jobs.

The crown was up 0.2 percent on the day at 9.1997 per euro -- off earlier two-month highs of 9.1550 but well short of the 1 percent rally forecast by analysts in a Reuters poll in case of an alliance win.

(Additional reporting by Kevin Plumberg in New York and Toni Vorobyova in London)

© 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 16 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 16 Oct
01:30 CN- CPI
21:45 NZ- CPI
Tue 17 Oct
08:30 GB- CPI
09:00 DE- ZEW Survey
09:00 EZ- Final HICP
Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

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



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