User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday October 11, 2007 - 20:21:12 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Euro rallies; Fed rate outlook weighs on dollar

Thu Oct 11, 2007 4:10pm EDT

(Updates prices, adds quote, adds detail)

NEW YORK, Oct 11 (Reuters) - The euro climbed against the dollar for the third straight session on Thursday and was on track for its biggest daily rise against the yen in three weeks as investors rediscovered a taste for risk.

Analysts said expectations of more interest rate cuts from the Federal Reserve to shield the U.S. economy from housing and credit market woes boosted high-yield currencies.

The Bank of Japan's decision on Thursday to hold rates at 0.5 percent also emboldened investors to extend carry trades, which use cheaply borrowed yen to buy higher-yielding assets. Retailer Wal-Mart's (WMT.N: Quote, Profile, Research) raised profit outlook also fed investors' risk appetite.

"Investors feel comfortable taking on more risk because there's a lot of faith now in the Fed, which has shown it's willing to fight for the economy," said Brian Taylor, chief currency trader at M&T Bank in Buffalo, New York.

The Fed slashed interest rates by half a percentage point in September, and while the odds of another cut this month have receded somewhat, markets still see a roughly 70 percent chance of more easing by year-end.

The dollar had surrendered all the gains against the euro seen after last week's strong jobs data, leaving the single currency at $1.4186 <EUR=>. It hit a lifetime high of $1.4281 last week.

The euro had climbed as high as $1.4241 on Thursday but eased slightly after European Central Bank Governing Council member Jose Manuel Gonzalez-Paramo said 4 percent euro-zone interest rates are appropriate.

The euro rose as high as 167.73 yen <EURJPY=>, according to Reuters data, before easing to 166.26 yen.

"People are testing some hard resistance levels" on the euro/dollar and euro/yen, said Michael Woolfolk, chief currency strategist at The Bank of New York Mellon. Major euro/dollar resistance stands at 1.4280 and euro/yen at 168.95, Woolfolk said.

The dollar hit a two-month peak at 117.79 yen <JPY=>, before easing to 117.18.

The euro also climbed 0.3 percent to 1.6780 Swiss francs <EURCHF=> and gained 0.8 percent against sterling to 69.82 pence <EURGBP=>, its biggest one-day rally since March at current prices.

"All things euro are getting marked up," said a trader at a European bank in New York.

European policy-makers have worried in recent weeks that a stronger euro will undermine growth. With the Group of Seven richest countries set to meet next week, some have urged Washington to reaffirm its strong dollar policy, something U.S. Treasury Secretary Henry Paulson did on Thursday.

"A strong dollar is in our nation's interest," Paulson told Reuters as he left a meeting with President George W. Bush. He added that currency values should be set in the marketplace "based on underlying fundamentals."

But European Central Bank President Jean-Claude Trichet said on Thursday that euro-zone growth remains robust despite recent financial market volatility.

The dollar briefly pared losses against the euro after data showed the U.S. trade deficit narrowed more than expected in August, suggesting a weaker greenback may be aiding the economy by boosting exports.

However, the dollar remained under pressure as investors braced for more Fed cuts due to uncertainty about the U.S. outlook and fear that the economy will bear the brunt of a global credit crisis, said Lena Komileva, G7 market economist at Tullett Prebon in London.

"There's been a fundamental negative shift in investor attitudes toward the dollar, and it reflects a view that the Fed's last rate cut was preemptive and that they are probably more willing to front-load easing to hedge against future downside risk to the economy," she said.

The high-yielding Australian dollar pushed to $0.9060 <AUD=>, a 23-year peak, according to Reserve Bank of Australia data. The New Zealand dollar <NZD=> rose 0.7 percent against the dollar. Both currencies gained against the yen.

© 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

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