User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday October 15, 2007 - 20:33:29 GMT
Reuters -

Share This Story:
| | Email

Forex Market News - Canadian dollar drops ahead of BoC rate decision


Mon Oct 15, 2007 4:28pm EDT
 By Frank Pingue
 TORONTO, Oct 15 (Reuters) - The Canadian dollar finished
lower against the greenback on Monday as uncertainty
surrounding Tuesday's Bank of Canada rate announcement and the
formal policy outline by the Conservative government at the
re-opening of Parliament offset support from commodity prices.
 Domestic bond prices, with no major Canadian economic data
to consider, took advantage of market uncertainty to rally from
early losses and finished higher across the curve.
 The Canadian dollar closed at 97.64 Canadian cents to the
U.S. dollar, or US$1.0242, down from 97.31 Canadian cents to
the U.S. dollar, or US$1.0276, at Friday's close.
 The lower close for the domestic currency came amid a rise
in oil prices to a record above $86 a barrel and gold prices
that closed near a 28-year peak. Canada is a major producer and
exporter of oil and gold and its currency often moves in tandem
with those commodity prices.
 But the central bank's rate decision and statement due on
Tuesday morning and the government's Speech from the Throne
later in the day, which could force an election if it is voted
down by the opposition, kept the currency under pressure for
much the session.
 "There might be a little bit of uncertainty around the
Throne Speech and what the outcome is going to be in terms of
is it going to garner the widespread support that's required or
are we going to move into an election scenario," said George
Davis, chief technical strategist at RBC Capital Markets.
 "And people will be looking at the (Bank of Canada)
statement to get an idea of what the bank's thoughts are in
terms of inflation and in terms of the potential slowdown
scenario emanating from the U.S."
 Canada's primary dealers are unanimous is calling for the
Bank of Canada to leave its key overnight rate steady at 4.50
percent when it sets policy at 9:00 a.m. (1300 GMT) on Tuesday,
but the statement could set the tone for the session.
 After hitting a 31-year high of 97.07 Canadian cents to the
U.S. dollar, or US$1.0312, the currency spent the North
American session in a wide range of 97.78 Canadian cents to the
U.S. dollar to 97.22 Canadian cents to the U.S. dollar.
 Canadian bond prices rebounded from early losses and closed
higher despite economic data from Canada and the United States
came in ahead of expectations.
 North American equity markets finished lower as investors
opted out of risky assets in favor of the security offered by
 In Canada, the September leading indicator rose 0.4 percent
from 0.3 percent in August and topped median forecast for a 0.3
percent gain, according to a Reuters survey.
 And in the United States, the New York Federal Reserve's
report on regional manufacturing activities beat estimates.
 But neither economic report was considered first-tier data
and the impact was short-lived. Bond prices spent the rest of
the session clawing back into positive territory.
 The Bank of Canada left C$686 million in the Large Value
Transfer System overnight on Monday and plans to leave C$500
million in the system on Tuesday.
 The two-year bond was up 1 Canadian cent at C$99.76 to
yield 4.368 percent, while the 10-year bond rose 5 Canadian
cents to C$96.25 to yield 4.483 percent.
 The yield spread between the two-year and 10-year bond
moved to 11.5 basis points from 12.4 at the previous close.
 The 30-year bond rose 7 Canadian cents to C$108.12 to
yield 4.500 percent. In the United States, the 30-year treasury
yielded 4.912 percent.
 The three-month when-issued T-bill yielded 4.04, up from
4.03 percent at the previous close.

© 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