User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday November 2, 2007 - 09:14:47 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar selling regains momentum before payrolls

Fri Nov 2, 2007 4:55am EDT

(Recasts, changes dateline, byline, updates prices)

By Toni Vorobyova

LONDON, Nov 2 (Reuters) - The dollar edged down towards record lows against a basket of currencies on Friday as investors looked to a key U.S. jobs report for clues on whether growth is soft enough to warrant another rate cut next month.

The Federal Reserve cut rates by 25 basis points to 4.5 percent as expected on Wednesday, adding to a 50 basis point move in September.

The tone of the Fed's statement suggested it may wait until 2008 before easing policy further, but this gave the dollar only a brief respite as worries soon resurfaced about the health of the U.S. economy and the financial sector.

A Wall Street Journal article said Merrill Lynch (MER.N: Quote, Profile, Research) engaged in deals with hedge funds that may have been designed to delay reporting losses on mortgage-backed securities.

"We are seeing economic weakness in the U.S. and weakness in financial institutions... (So) investors are moving their assets overseas and capturing growth in emerging markets. There is reason still for investors to head out of the U.S. and sell the dollar," said Geoffrey Yu, currency strategist at UBS.

"If we see private payrolls and government payrolls both go down, that's definitely dollar-negative as well."

The euro was up 0.3 percent against the dollar at $1.4470 <EUR=> moving towards record highs above $1.45 struck in the immediate aftermath of this week's Fed rate cut.

The dollar index, which charts the greenback's progress against a basket of six major currencies, fell 0.1 percent to 76.515 (.DXY: Quote, Profile, Research). It set a record low of 76.465 on Wednesday.


The consensus forecast from analysts polled by Reuters is that the U.S. economy added 80,000 new jobs last month. Forecasts for the data, due at 1230 GMT, range from 10,000 to 110,000.

The jobs data has been pivotal in Fed expectations in recent months -- news of the first drop in employment levels in four years in August was seen as a key factor behind the September Fed rate cut, while fears of a U.S. recession were calmed a month later when the August number was revised to a small gain and September data also showed job creation.

"This report (for October) probably will provide more evidence of a downshift in employment, especially with the subprime fallout accentuating weakness in some services sectors," Citi said in a research note.

U.S. stocks tumbled on Thursday after brokerages downgraded shares of Citibank (C.N: Quote, Profile, Research) and Bank of America (BAC.N: Quote, Profile, Research) and the Federal Reserve injected $41 billion of temporary funds into the banking system, sparking fears of more credit crisis fallout.

This was followed by losses in Asian equities overnight and a lower open on European bourses.

But, unlike in recent sessions, falls in equities did not prompt currency investors to ditch risky carry trade investments where cheap borrowing in the yen funds purchases of higher return assets such as the New Zealand dollar.

The New Zealand dollar was up 0.8 percent at 87.5 yen <NZDJPY=R>, while the euro rose 0.4 percent to 165.87 yen <EURJPY=>.

"It's still concerns over the U.S. economy rather than global concerns," said Yu at UBS.

Eight out of the 20 primary bond dealers polled by Reuters after the Fed decision forecast a December rate cut. But the other 12 said rates would remain on hold [FED/R].

© 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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 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