User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday March 29, 2007 - 10:50:12 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Yen falls as risk aversion abates, U.S. GDP due

FOREX-Yen falls as risk aversion abates, U.S. GDP due
Thu Mar 29, 2007 6:45am ET143

(Updates prices, adds quotes, changes byline)

By Simon Falush

LONDON, March 29 (Reuters) - The yen fell across the board on Thursday while high-yielding currencies outperformed as investors re-entered carry trades after a rise in equity markets and a testimony from Federal Reserve Chairman Ben Bernanke.

Although Bernanke, speaking on Wednesday, acknowledged risks to the economy from the U.S. housing market, he also stressed inflationary pressures -- a message that was taken by markets to mean that the Fed is not ready to cut interest rates yet.

Coupled with a recovery in stock markets, the comments prompted investors to re-enter risky carry trades, borrowing the low-yielding yen to fund purchases of higher return units such as the Australian and New Zealand dollars. This reversed Wednesday's FX market moves.

"It's a benign environment for the carry trade. The market has digested comments from Bernanke and there have been rises in European and Asian stocks," said Kamal Sharma, currency strategist at Bank of America.

European stocks rose on Thursday, while Tokyo's Nikkei index closed broadly flat, erasing earlier losses calming investor nerves about the fragility of the global economy. Oil prices hovered below $64 , after spiking above $68 a barrel earlier this week amid geopolitical tensions over Iran.

The yen fell around half a percent to around 117.45 per dollar and dropped 0.7 percent to 156.69 per euro by 1013 GMT.

The New Zealand dollar -- which enjoys the highest interest rates in the industrialised world at 7.5 percent compared to just 0.5 percent in Japan -- climbed 1 percent to 83.76 yen, erasing part of the previous day's 1.8 percent slide.

The dollar was down 0.2 percent versus the euro at $1.3345 as concern about the health of the world's largest economy put investors on edge ahead of the release of the final estimate of U.S. growth figures for the final months of 2006.

"Investors are looking to the Q4 GDP figures (at 1230 GMT). If growth comes in below expectations we could see further dollar weakness," Sharma said.


The dollar has suffered from mounting expectations the Fed will cut rates from 5.25 percent, possibly as soon as June, and so erode the currency's yield advantage.

Wednesday's data showing a surprisingly tepid pick-up in U.S. durable goods orders in February helped to compound worries about the health of the U.S. economy as investors look for the Fed to trim rates at least twice before the end of the year.

But Bernanke's speech to Congress was seen as painting a more balanced picture on rates.

"There were soundbites on which both U.S. bulls and bears could hang their hats, though: Bernanke noted clearly the risks to the Fed's central forecast for moderate growth going forward," JP Morgan said in a research note.

"We take Bernanke's remarks to be consistent with a Fed that is on hold near-term."

Investors are looking to speeches by Minneapolis Fed's Gary Stern and Richmond Fed's Jeffrey Lacker.

Fourth quarter U.S. GDP growth, due at 1230 GMT, is seen confirmed at an annualised 2.2 percent.

European Central Bank President Jean-Claude Trichet and Governing Council member Mario Draghi are speaking later.

Rumours of an outbreak of conflict between the United States and Iran, later denied, initially prompted investors to cut back risky positions on Wednesday by selling stocks and unwinding carry trades.

Geopolitical concerns remained at the back of investors' minds on Thursday with Iran still holding 15 British sailors detained at sea last week.

© 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