User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday September 25, 2006 - 10:53:12 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Dlr near 2-week low before US data, Hesse CPI clips euro

FOREX-Dlr near 2-week low before US data, Hesse CPI clips euro
Mon Sep 25, 2006 6:32am ET172

(Updates price, adds quotes, changes byline)

By Veronica Brown

LONDON, Sept 25 (Reuters) - The dollar hovered near a recent two-week low against the euro and yen on Monday as investors awaited data this week that might fan expectations for the next Federal Reserve move to be interest rate cut.

The dollar came under broad pressure last week after the Philadelphia Fed report showed manufacturing activity in the mid-Atlantic region slumped to its weakest in more than three years.

This week brings U.S. housing data, consumer confidence and the Personal Consumption Expenditure index -- the Fed's favourite measure of inflation. Softer-than-expected readings could reinforce expectations, still slim, that the Fed might cut interest rates as early as December.

"It seems the dollar is grinding lower day by day. To an extent the dollar had been supported by interest rate hikes. Once you kick out the rate support there's not much left for the dollar," said Adam Cole, currency strategist at RBC Capital Markets.

By 0954 GMT the dollar was flat at $1.2774 , having fallen to a two-week low of $1.2832 on Friday.

However, the euro's initial gains against the dollar were clipped after data showed consumer inflation in the German state of Hesse fell -- taking a little froth off euro zone interest rate expectations.

The euro lost around 0.2 U.S. cents after Hesse consumer inflation came in 0.4 percent lower on the month in September -- easing expectations on how far euro zone rates might rise beyond the current 3.0 percent.

"There is some expectation that the ECB may move beyond 3.5 percent... with these falling oil prices weighing on inflation the market is probably just unwinding some of that rate hike expectation for 2007," said Kamal Sharma, currency strategist at Bank of America.

The dollar was steady at 116.66 yen , recovering from Friday's two-week low of 116.06. The euro was also flat on the day at 149.01 yen , nearly two yen off its record peak above 150 set late in August. Investors are also awaiting Tuesday's closely-watched German IFO business climate survey for September following a rise in the business confidence indicator in Belgium.

TO HOLD OR CUT?

The Fed left interest rates on hold last week for the second meeting in a row at 5.25 percent after 17 successive rate hikes. It said while inflation risks remain, they should abate as economic growth slows.

"The problem for the dollar is not only the loss of interest rate support. It is the loss of interest rate support amid a still-widening current account deficit," State Street said in a note to clients.

This week will also feature speeches from key Fed officials.

Dallas Fed President Richard Fisher and New York Fed's Timothy Geithner speak later on Monday, while Fed Governor Susan Schmidt Bies, Kansas City Fed's Thomas Hoenig, Philadelphia's Charles Plosser, St Louis's William Poole are all scheduled to speak later this week.

Also of note this week is the Sept. 30 voting deadline for the Graham-Schumer bill, which if passed would impose a 27.5 percent tariff on Chinese imports if Bejing did not significantly revalue its yuan currency within six months.

UBS analysts said however that a vote was far from certain.

"While even approval by the Senate would leave the legislation far from becoming actual law, a yes vote would be quite negative for the dollar," the bank said.

In Europe, hawkish rhetoric from European Central Bank officials is cementing expectations for an October rate hike.

Elsewhere, Japanese public broadcaster NHK reported prime minister-in-waiting Shinzo Abe chose party heavyweight Hidenao Nakagawa as secretary general of the ruling Liberal Democratic Party (LDP), but the news had little impact on the yen.

Traders say investors are focusing more on who would be appointed as finance minister and in other economic-related positions.

Abe, who was elected LDP president last week, is poised to be confirmed as prime minister when parliament convenes on Tuesday.

© 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 18 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

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.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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