User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday October 16, 2006 - 21:06:19 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar falls broadly, Russia reserves lift yen

FOREX-Dollar falls broadly, Russia reserves lift yen
Mon Oct 16, 2006 4:30pm ET161

(Updates prices, adds comments)

By Dena Aubin

NEW YORK, Oct 16 (Reuters) - The dollar fell broadly on Monday on profit-taking following last week's sharp gains, while the yen strengthened against the dollar and euro after Russia's central bank said it planned to increase its Japanese currency reserves.

With Federal Reserve speakers providing little new insight on the outlook for the U.S. economy or interest rates, some traders trimmed their dollar holdings ahead of inflation data later this week.

Thanks to a recent decline in oil prices, most market players expect producer and consumer price data to point to only modest inflationary pressures. But analysts said they were alert to the risk of a stronger reading.

The Consumer Price Index on Wednesday is expected to show the core inflation rate, which strips out food and energy prices, rose 0.2 percent in September, according to a Reuters poll. Overall, prices are forecast to have fallen 0.3 percent, largely due to a decline in oil prices.

"I think the event of the week is going to be the core CPI number," said Michael Woolfolk, senior currency strategist at Bank of New York. "Our expectation is 0.2 but we think that a reading above that -- 0.3, 0.4 -- would be dollar positive because it would imply that the Fed would need to hike rates further if core CPI remained at those levels."

By mid afternoon, the dollar was down 0.43 percent at 119.09 yen , retreating from last week's 10-month high of 119.88 yen. The euro was down 0.31 percent at 149.26 after hitting a one-week low of 148.98 yen .

The euro was up slightly at $1.2530 , not far off a near 3-month low of 1.2481 hit on Friday after upbeat U.S. retail sales and consumer sentiment surveys pushed the pair through key levels. Sterling rose 0.27 percent to $1.8607 .

St. Louis Fed President William Poole said that while risks of bad news on inflation have receded a bit, he sees an equal chance of a Fed rate hike or a rate cut. His remarks had little impact on the dollar.

San Francisco Fed President Janet Yellen repeated remarks she made last week that U.S. interest rates are moderately restrictive and in an "appropriate range" given the inflation outlook.

Ahead of the CPI report on Wednesday, traders will study wholesale inflation and U.S. capital flows data on Tuesday.

The yen gained after Alexei Ulyukayev, Russia's first deputy central bank chairman, said earlier on Monday the bank had started buying yen for its reserves, aiming to bring the Japanese currency's share to "several percent" from close to zero now. Russia boasts reserves of almost $270 billion, and its coffers have swelled more than 50 percent this year on record high oil prices. For more click on [ID:nL16873787].

The announcement might have spooked some speculative investors who had amassed record positions against the yen, according to last week's latest Commodity Futures Trading Commission data.

While the announcement gave the yen a short-term boost, analysts said it was unlikely to overturn the recent trend of speculators selling yen for higher-yielding currencies in so-called "carry trades."

"The impact of Russia's suggestion to hold JPY as a reserve currency is likely to be brief and limited to a psychological impact," Divyang Shah, global strategist at IDEAglobal, wrote in a note to clients.

(Additional reporting by David McMahon and 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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

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