User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday January 31, 2007 - 11:45:09 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX-Yen bounces on speculation of G7 yen talks, eyes Fed

FOREX-Yen bounces on speculation of G7 yen talks, eyes Fed
Wed Jan 31, 2007 6:40am ET148

(Updates price, adds quotes, byline)

By Simon Falush

LONDON, Jan 31 (Reuters) - The yen bounced from this week's four-year low against the dollar and rose versus the euro on Wednesday as expectations grew that Group of Seven finance ministers might raise concerns on the Japanese currency's weakness.

Investors are reluctant to build sizeable positions before a U.S. Federal Reserve interest rate decision and statement due later in the day. The Fed is set to hold rates at 5.25 percent but the statement might reflect recent strong U.S. data.

Speculation on the yen intensified after German Finance Minister Peer Steinbrueck, who will chair the G7 talks, said on Tuesday that Europe's concerns about yen weakness will be raised at next week's meeting.

"(Buying yen) was a sensible reaction (to the comments)," said Simon Derrick, head of currency research at Bank of New York.

"However the main driver of yen weakness has been domestic Japanese investors (buying) overseas and I see nothing in its economy to change that," he said, adding that yield-hungry Japanese investors have been heavily buying overseas bonds over the past year.

By 1125 GMT the dollar was down slightly at 121.49 yen after hitting a four-year high around 122.20 on Monday.

The euro was down a third of a percent at 157.16 yen , pulling further away from the record high of 158.61 hit last week. The euro was down 0.2 percent at $1.2934 .

The Swiss franc, another low-yielding currency, came off an earlier 8-year low against the euro after the leading KOF business indicator was well above forecast.

The euro shrugged off data showing annual euro zone inflation was below forecast at 1.9 percent in January.

Analysts say the risk from the Fed statement, due at 1915 GMT, would be on the upside for the dollar. "We had some numbers... on housing markets that are stronger than expected, which may be reflected in the statement," said Daragh Maher, senior currency strategist at Calyon.

YEN AND G7

The yen has been a major loser among key currencies as the Bank of Japan is expected to raise interest rates only very gradually, encouraging investors to sell the currency in carry trades to invest in higher-yielding currencies.

Soft data this week reinforced doubts whether the BOJ would raise rates next month from 0.25 percent.

But concerns expressed by European policymakers about the yen's weakness before the G7 have prompted some investors to unwind such carry trades.

"The euro/yen is coming off quite a bit. Generally we are just getting a suspicion that something might be said at G7. We had a few comments from Europe," Maher said.

In an interview with the Nikkei financial daily published in Japanese on Wednesday, European Central Bank Governing Council member Christian Noyer said a weak yen would create strains in the global economy in the medium term, but added that the market was likely to correct itself.

Later in the session, the first estimate of fourth-quarter U.S. growth is due, as well as testimony from U.S. Treasury Secretary Henry Paulson on the Treasury's recent foreign exchange report and its strategic economic talks with China at 1500 GMT.

© 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."



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


GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 16 Apr 2018
AA 12:30 US- Retail Sales
Tue 17 Apr 2018
AA 08:30 GB- Employment
A 09:00 DE- ZEW Survey
A 12:30 US- House Starts/Permits
A 13:15 US- Industrial Production
Wed 18 Apr 2018
AA 01:30 AU- Employment
AA 14:00 CA- BOC Decision
AA 14:30 GB- EIA Crude
Thu 19 Apr 2018
A 13:30 US- Weekly Jobless
A 14:00 US- Leading Indicators
Fri 20 Apr 2018
A 12:30 CA- CPI/Retail Sales


John M. Bland, MBA
co-founding Partner, Global-View.com
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.


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