User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday October 10, 2007 - 20:21:51 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar falls on expectations Fed will ease again

Wed Oct 10, 2007 4:09pm EDT

(Updates prices)

NEW YORK, Oct 10 (Reuters) - The dollar fell on Wednesday on speculation that the Federal Reserve may cut interest rates again this year to prevent a weak housing sector from damaging the broader economy.

Comments by former Fed Chairman Alan Greenspan on Wednesday and by San Francisco Fed President Janet Yellen late on Tuesday heightened concerns about the economy, adding to fears that signs of slower growth would lead to lower rates. Policy makers slashed the benchmark lending rate by 50 basis points to 4.75 percent last month.

The dollar has been undermined by the prospect of further rate cuts, and the currency has been unable to capitalize on last week's solid jobs report and rising bond yields, remaining near an all-time low against the euro.

Although minutes from the Fed's September meeting released on Tuesday revealed little inclination by the central bank to cut again this month, December rate futures assess a roughly 76 percent chance of a 25 basis point rate cut that month.

Implied prospects for another quarter point cut this month stand at about 34 percent, compared with 64 percent before Friday's stronger-than-expected September payrolls report.

"The market still believes (the Fed) will pause in October but there is still some easing to come," said Nick Bennenbroek, head currency strategist at Wells Fargo in New York.

Late afternoon in New York the euro traded at $1.4145 <EUR=>, up 0.3 percent on the day. It hit a record high of $1.4281 last week. Sterling rose 0.2 percent to $2.0416 <GBP=>, boosted when Bank of England Governor Mervyn King said he would monitor inflation closely, raising the bar for a UK rate cut.

The Fed's Yellen on Tuesday said the U.S. central bank's move to slash rates last month helped limit risks but added it was too early to say the U.S. economy "has dodged a bullet."

Falling home prices and a credit crisis sparked by losses on risky mortgage securities prompted the Fed's September cut.

And on Wednesday, Greenspan said the credit squeeze that has rattled financial markets will take its toll eventually on the U.S. economy, adding to falling home prices and forcing consumers to cut back spending.

Signs of continued growth outside the United States helped support some investor risk appetite.

"The market remains very short the dollar, and despite higher yields, diversification flows may have been acting as a headwind," UBS AG strategists wrote in a note to clients.

The Bank of Japan is expected to end a two-day policy meeting on Thursday by keeping interest rates at 0.5 percent. That also weighed on the yen, often borrowed cheaply to finance purchases of higher-yield assets.

The dollar was up 0.1 percent at 117.25 yen <JPY=>, while the euro rose 0.4 percent to 165.87 yen. Earlier, the yen climbed to a two-and-a-half-month high above 166 yen <EURJPY=>.

The euro also got a boost from better-than-expected French and Italian production data, suggesting manufacturers have been able to adjust to a strong euro with minimal pain.

European Central Bank Governing Council member Erkki Liikanen told Reuters following a speech in Moscow that the euro zone faces downside risks to growth and upside risks to inflation. For details, please see [ID:nL10149948].

CMC Markets analyst Ashraf Laidi said the ECB does not appear ready to call an end to its rate-tightening campaign and said he expects the euro to make a run at $1.45 in early 2008.

The ECB last lifted rates, to 4 percent, in June. It left them on hold at its last two policy meetings.

© 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."

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

Mon 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 14:00 US- Prelim University of Michigan
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