User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday September 19, 2007 - 10:50:15 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX NEWS-Dollar slips to 15-yr low, high-yielders up

 

FOREX-Dollar slips to 15-yr low, high-yielders up

Wed Sep 19, 2007 6:45am EDT

(Changes byline, updates prices, adds quotes)

By Gertrude Chavez-Dreyfuss

LONDON, Sept 19 (Reuters) - The dollar dropped to a fresh 15-year low against a basket of currencies, while high-yielders such as the New Zealand dollar rallied on Wednesday, as risk appetite returned after a half percentage point cut in U.S. interest rates.

The Federal Reserve slashed the fed funds rate to 4.75 percent from 5.25 percent to help boost a slowing U.S. economy and relieve strains in money markets. The move has diminished the allure of dollar-denominated assets, sparking broad selling in the greenback.

However the dollar has since recovered from its lows overnight mostly on short-covering, traders said but analysts said sentiment has turned decidedly negative in the near to medium-term.

"Risk appetite is back up and high-yielders are back up as well after the Fed cut rates," said Antje Praefcke, currency strategist at Commerzbank in Frankfurt. "Overall, the clear sentiment is for a lower dollar in general."

Sterling was also under pressure, hitting a 17-month low against the euro for a third consecutive session, as traders interpreted the minutes of this month's Bank of England meeting as signalling possible interest rate cut in the future.

The dollar pushed its trade-weighted index (.DXY: Quote, Profile, Research) to 79.091, its lowest since 1992, but recovered to 79.312 by 1006 GMT, up 0.13 percent on the day.

The greenback held near its weakest level against the euro hit on Tuesday -- which rose to within a whisker of $1.40.

The dollar slipped to 115.84 yen <JPY=>. The euro dipped to 161.65 yen <EURJPY=R> after pushing up to a five-week high of 162.56 yen on Tuesday.

U.S. housing and inflation data could also provide a clearer picture on prospects for interest rates.

Analysts said there are barrier options at the $1.40 level, which has capped the euro's upside against the dollar. "I would expect traders to make a go for that $1.40 level if we get weak housing numbers out of the U.S. later," Praefcke said.

"I think (the Fed's) the move will help other central banks get back on to a hiking path as this boost for the U.S. economy should help the rest of the world maintain strong growth," said Laura Ambroseno, currency strategist at Morgan Stanley.

The euro fell 0.2 percent to $1.3954 <EUR=>, below a record high of $1.3989 the previous session.

U.S. housing and inflation data could also provide a clearer picture on prospects for U.S. interest rates. Hours after the Fed's announcement, the Bank of Japan held its overnight rate at 0.5 percent, a widely expected move that prompted limited market reaction. The BoJ said it will determine the impact of troubles in the United States before considering a rate rise.

The dollar slipped to 115.90 yen <JPY=>. The euro dipped to 161.85 yen <EURJPY=R> after pushing up to a five-week high of 162.56 yen on Tuesday.

The New Zealand dollar, whose steep interest rates make it a bellwether of risky carry trades, hit its highest level in more than a month against the dollar, extending gains after posting its biggest one-day rise in nine years following the Fed's move.

The New Zealand dollar climbed 0.9 percent to US$$0.7319 (NZD: Quote, Profile, Research). Sterling fell 0.5 percent against the dollar to $2.0015 <GBP=>, while the euro rose to a 17-month peak of 69.76 pence <EURGBP=>, in the wake of the BoE minutes.

Minutes of the Sept. 5-6 meeting published on Wednesday showed MPC members agreed that the upside risks to inflation had receded somewhat as a result of turmoil on financial markets and developments in the real economy.

Analysts said that risk aversion has dipped slightly on Wednesday, investors would likely stay cautious on worries about more bad news tied to the U.S. subprime mortgage crisis and resulting credit market troubles, highlighted by the problems of British mortgage lender Northern Rock (NRK.L: Quote, Profile, Research).

(Additional reporting by Simon Falush)

© Reuters 2006. 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 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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