User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday February 2, 2007 - 11:38:29 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar steadies vs euro before payrolls

FOREX-Dollar steadies vs euro before payrolls
Fri Feb 2, 2007 6:23am ET147

(Changes byline, adds quotes, updates prices)

By Toni Vorobyova

LONDON, Feb 2 (Reuters) - The dollar steadied against the euro on Friday, with investors reticent to take positions before key U.S. jobs and sentiment data.

The yen gained versus major currencies with investors getting worried that European officials will initiate discussions on the Japanese currency's weakness at next week's Group of Seven meeting.

January's U.S. non-farm payrolls report, due at 1330 GMT, will be scanned by investors for evidence to reinforce a solid growth outlook and the Federal Reserve's steady stance on rates.

Economists expect the data to show 149,000 jobs added in January after a rise of 167,000 the previous month.

"Markets are looking for quite a strong outturn for payrolls. We question whether or not they are being too optimistic, especially if the cold spell that we saw in the U.S. led to some reduction in construction payrolls," said Tom Vosa, head of market economics at NAB.

By 1104 GMT, the dollar was steady at $1.3018 to the euro, having traded within a range of just 14 ticks since the start of the day. It was up 0.2 percent at 120.92 yen , but down from the four-year highs of 122.19 yen struck earlier this week.

The euro was also 0.2 percent firmer at 157.53 yen , off a record peak of 158.61 struck last week.

As well as payrolls, investors are awaiting University of Michigan sentiment data at 1500 GMT, following figures on Thursday showing an unexpected slide in manufacturing activity last month.

There is also some downside risk to payrolls as the ISM manufacturing employment index showed contraction.

"Manufacturing jobs were probably a drag on payrolls, after yesterday's weaker than expected January ISM. Bearish for the USD will be a slight drop in average hourly wage growth from 4.2 percent year-on-year to 4.1 percent, which will align with the less hawkish tone on inflation risks in Wednesday's (Federal Reserve) statement," RBC Capital Markets said in a client note.


Influence from the U.S. data could well be capped, analysts say, as market attention turns to what might be said about the struggling yen at next week's G7 finance ministers' meeting.

The yen's 16 percent slide in the past three years to record lows against the euro has grabbed the limelight before the Feb. 9-10 gathering, as European officials have sought to make the currency's woes a major topic of discussion. Continued...

But Japanese and U.S. officials have played down a focus on the yen, with U.S. Treasury Secretary Henry Paulson saying on Thursday he was satisfied the yen's value was set by markets and that he was looking at the yen more carefully "only because of the publicity coming out of Europe".

"Although the risk of a strongly worded statement is fairly small because you'll never get agreement (on the yen). Nonetheless particularly from a European perspective the pressure on the Japanese will be higher," said NAB's Vosa.

"The risk is that we will see over the course of next week a lot of unwinding of existing carry trades, which leaves the Aussie and the kiwi most vulnerable, and perhaps the rand."

Japan's low interest rates -- 0.25 percent compared with 3.5 percent in the euro zone and 5.25 percent in the United States -- have given market players the green light to borrow yen for funds to buy higher-yielding currencies in the carry trade.

Japanese investors have also sought better returns elsewhere, leading to a large outflow of cash from the country.

© 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

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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