User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday January 22, 2007 - 21:57:13 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Yen sags across the board, pressured by low yield

FOREX-Yen sags across the board, pressured by low yield
Mon Jan 22, 2007 4:47pm ET145

(Updates prices, adds analyst quote, Fed's Yellen comments)

By Gertrude Chavez-Dreyfuss

NEW YORK, Jan 22 (Reuters) - The yen slumped across the board on Monday as investors sold the currency amid a prevailing view that Japan's wide interest rate gap with the rest of the world was unlikely to contract any time soon.

The Bank of Japan left official rates at just 0.25 percent last week. Those low rates have made the yen a choice for carry trades, where investors use low-yielding currencies to purchase others with a higher return.

The yen fell to a near four-year low against the dollar. Against other higher-yielding currencies, the yen plunged to near-decade low versus the Australian dollar , an eight-and-a-half-year trough against the pound and a year low versus the New Zealand dollar .

"We've seen a lot of investors favoring carry trades," said Matthew Strauss, senior currency strategist at RBC Capital Markets in Toronto.

"Japanese domestic investors also prefer to buy overseas securities. But the (dollar) rally has eased a bit given that it's quiet. It would be interesting to see whether dollar/yen would be able to close above 121.50 today," he added.

Demand for the dollar was boosted last week by favorable economic data that reinforced the outlook for the Federal Reserve to hold interest rates steady at 5.25 percent in the months ahead, rather than cut them.

In late afternoon trading in New York, the dollar was up 0.4 percent on the day at 121.67 yen , within striking distance of four-year highs around 121.87. Traders said the dollar's gains extended after traders took out stop-loss orders at around 121.50 yen.

Data showed speculators on the International Monetary Market racked up a net yen short position of 138,146 contracts by Tuesday, a record high, but analysts said extreme positioning would not stop the yen from weakening further.

SHARP FALL IN CANADIAN DOLLAR

One of Monday's biggest movers as well was the Canadian dollar, which fell nearly 1 percent against the U.S. dollar.

"That was due to the turnaround in oil prices," said Kathy Lien, chief fundamental analyst at Forex Capital Markets, in New York. U.S. crude futures were down 86 cents at $51.13 a barrel, after having risen above $53 earlier in the session.

Lien also cited reports on Monday that a judge at the Ontario Superior Court of Justice approved an estimated US$2.5 billion settlement that resolved seven lawsuits as to whether Canadian company Nortel Networks Corp. (NT.TO: Quote, Profile , Research) misled investors.

The analyst said since 25 percent of that settlement -- part of which is for U.S. investors -- is in cash, there was a lot of buying of U.S. dollars against the Canadian currency as a result. In late trading, the U.S. rose 0.9 percent to C$1.1829 .

The euro firmed 0.2 percent to 157.47 yen , nudging toward a record high around 158 yen struck this month. It also ticked up toward recent eight-year peaks versus the low-yielding Swiss franc .

Against the dollar, the euro was down slightly at $1.2948 . RBC's Strauss said in the absence of any major economic data, currency has been lodged in a comfortable trading range around $1.29-$1.30.

The dollar rose 0.1 percent against the Swiss franc to 1.2489 , while sterling was up 0.1 percent at $1.9759 .

Also on Monday, San Francisco Federal Reserve Bank President Janet Yellen repeated her comments made last week and had little impact on the market. She said U.S. interest rates were high enough to cut inflation, but that risks have arisen from the robust labor market.

© Reuters 2007. 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 15 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Thu 14 Dec
23:50 JP- Tankan Survey

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --23:50-- JP- Tankan Survey
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