User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday December 1, 2006 - 11:36:20 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar hits 14-yr low vs sterling, 20-mth low vs euro

FOREX-Dollar hits 14-yr low vs sterling, 20-mth low vs euro
Fri Dec 1, 2006 6:06am ET143

(Updates prices, adds quotes, changes byline)

By Carolyn Cohn

LONDON, Dec 1 (Reuters) - The dollar hit a 14-year low against sterling and a 20-month trough versus the euro on Friday after weak U.S. data reinforced expectations the Federal Reserve might cut interest rates next year.

U.S. data on Thursday showed activity in the Midwest shrank in November for the first time in 3-1/2 years, which augured ill for the ISM manufacturing survey for November due later.

Markets are also keen to hear from Federal Reserve chairman Ben Bernanke and other Fed officials who speak later, although in recent speeches they have delivered a generally upbeat view.

"We are seeing dollar weakness as the market focuses on the weak real economic data in the U.S., while the euro zone just seems to go from strength to strength," said Tobias Thygesen, senior analyst, at Danske Markets in Copenhagen.

The dollar fell as low as $1.9748 per pound , hitting its lowest for a second day since Sept. 1992 -- just before the UK abandoned the European Exchange Rate Mechanism, the precursor to the euro. Investors are looking for sterling to rally to the elusive $2 level, last reached also in Sept. 1992.

However, the dollar recovered to $1.9673 to the pound by 1045 GMT, steady from the U.S. close, after data showing British manufacturing activity growth slowed unexpectedly in November to its weakest pace in eight months.

The dollar also fell to a 20-month low of $1.3282 per euro for an eighth straight day, within a few cents of its record low of $1.3667 hit in December 2004, before recovering to $1.3224, steady on the day.

The yen was also weak following tame Japanese inflation data, hitting record lows near 154 per euro and 8-year lows against sterling and the Swiss franc .

The dollar was up half a percent on the day against the yen at 116.35 yen .


A survey showed growth in the euro zone's manufacturing sector slowed slightly to 56.6 in November, although still in expansionary territory. The euro zone unemployment rate unexpectedly fell to 7.7 percent in October, from 7.8 percent in September.

The U.S. ISM (Institute of Supply Management) index is expected to rise slightly to 51.5 in November from 51.2 in the previous month.

"A sub-50 reading would see markets move to discount imminent Fed easing ... and would, unless and until risk assets get hit, spark sharp dollar declines," HBOS said in a note to clients.

The dollar was also at a 20-month low against an index of currencies <=USD>. The U.S. rate outlook, exaggerated year-end trading and speculation about central bank diversification away from the dollar have knocked 3.5 percent off the value of the dollar against the euro in the past week.

The dollar could keep weakening because of imbalances in the U.S. economy but was unlikely to suffer an abrupt fall, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said on Friday.

Bernanke speaks in Washington at 1400 GMT, and Philadelphia Fed president Charles Plosser, Chicago Fed President Michael Moskow and Richmond Fed president Jeffrey Lacker are also due to speak.


The yen's sentiment has also been weak following a flurry of launches of funds aimed at investing in higher-yielding currencies this week, including Nomura Asset Management's U.S. corporate debt fund on Thursday.

Data on Friday showed a rise in Japanese core consumer prices slowed unexpectedly in October to just 0.1 percent from a year earlier, raising more doubts about whether the Bank of Japan can lift rates this month.

With the pace of core inflation in Japan so tepid, analysts said the Bank of Japan may have a tough time raising rates as soon as this month's policy meeting.

© 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


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,

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated


Trader's Advocate Articles..


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.



Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105