User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday June 6, 2007 - 10:40:16 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Euro steady before ECB decision, high yielders up

FOREX-Euro steady before ECB decision, high yielders up
Wed Jun 6, 2007 6:08 AM ET

(Changes byline, adds quotes, updates prices)

By Simon Falush

LONDON, June 6 (Reuters) - The euro held steady against the dollar on Wednesday as markets anticipated a European Central Bank interest rate hike, with the focus on any hints ECB president Jean-Claude Trichet might give on further increases.

Higher-yielding currencies continued to perform strongly, with the Australian dollar surging to a 17-year peak against the U.S. dollar after robust first-quarter growth data suggested Australian rates could rise further .

This helped to lift the New Zealand dollar to its strongest level since being floated in 1985.

Markets widely expect the ECB to lift borrowing costs by 25 basis points to 4.0 percent at 1145 GMT, leaving investors focusing firmly on Trichet's news conference for further clues on how many more hikes are in the offing this year.

"The market is expecting (Trichet) to be hawkish," said Steven Pearson, chief currency strategist at Halifax Bank of Scotland Treasury Services.

"However, three rate hikes by next year are priced in, so the only factor that could affect the euro is if he deviates from market expectations that he will say rates are accommodative."

Hawkish expectations on euro zone rates were also reflected in the bond market, with benchmark 10-yields near 4-1/2 year highs of 4.5 percent.

By 0930 GMT, the euro was steady at $1.3522 , bouncing back from an eight-week low of $1.3391 hit last week and almost a cent and a half from its record high above $1.3682 in April.

The dollar edged lower to 121.26 yen , and struggled to overcome a heavy array of sell orders near 122 yen after reaching a four-month high of 122.14 yen last week.

The euro was also lower versus the yen at 164.60 yen , having hit a peak of 164.61 yen on Tuesday.


The dollar has come under broad pressure despite a raft of upbeat economic data reducing expectations that the Federal Reserve will cut rates from the current 5.25 percent later in the year.

Cleveland Fed President Sandra Pianalto said U.S. inflation hovering around 3 percent since 2005 is too high for comfort in the longer term.

Comments from Fed Chairman Ben Bernanke on Tuesday that the U.S. housing market will continue to be a drag on growth knocked the dollar lower in spite of data showing U.S. service sector activity picking up to a 13-month high.

The Australian dollar, meanwhile, jumped to a 17-year high of US$0.8439 after data showed the country's economy expanded at a 1.6 percent clip in the January-March quarter from the previous quarter, easily surpassing forecasts.

Earlier, the Reserve Bank of Australia kept rates on hold at 6.25 percent as expected, but the country's strong economy is keeping alive the possibility of higher rates ahead.

The Australian dollar also rose to its highest versus the yen since April 1992 .

"The data has lifted the Aussie and we see the currency making more gains in the short-term although it is too early to suggest yet that the GDP data implies a greater risk of tighter monetary policy," said Bear Stearns in a note to clients.

"The real clue here will come from Q2 CPI data which is not due until next month."

High-yielding currencies including sterling have scaled successive multi-year peaks against the yen as investors continue their search for higher yield.

The New Zealand dollar rose above $0.7550 for the first time in 22 years, and remained close to the 17-year peak against the yen struck the previous session.

Investors will also keep an eye on a summit meeting of the Group of Eight nations in Germany that begins later in the day to see if officials from the world's richest nations will comment on issues pertaining to monetary policy or currency movements.

© Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.


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 December 2017

Register for the Amazing Trader


Amazing Trader EVENT RISK Calendar:

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: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.

  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

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