User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday November 19, 2007 - 21:08:21 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar falls vs yen as risk aversion rises

Mon Nov 19, 2007 3:58pm EST

(Updates prices, recasts)

By Vivianne Rodrigues

NEW YORK, Nov 19 (Reuters) - The dollar declined against the yen on Monday, but held steady versus the euro as a globalrout in stock markets and higher oil prices raised concern about the health of the U.S. economy and left investors wary of risky trades.

Talk that Middle East oil exporters may discuss abandoning fixed exchange rates to the dollar next month also added to negative greenback sentiment as did continued market expectations for lower U.S. interest rates.

But increasing risk aversion helped keep the dollar steady against the euro and a basket of major currencies (.DXY: Quote, Profile, Research) as investors repatriated money from overseas trades.

Investors grew particularly cautious after Goldman Sachs added U.S. banking giant Citigroup (C.N: Quote, Profile, Research) to its "sell" list, saying the bank would likely face more mortgage-related losses next year.

"Uncertainty is swirling around markets and people fear the Fed will cut interest rates again because it is concerned about the possibility of a U.S. recession," said Greg Salvaggio, vice president of trading at Tempus Consulting in Washington. "Investors are going to move out of equity positions and out of risky investments in general."

In late afternoon New York trading, the dollar fell 1 percent to 109.82 yen <JPY=>, edging back toward an 18-month low of 109.12 yen hit last week. Salvaggio said traders could test support around that level over the next few sessions.

Yen buying mirrored weakness in the major Wall Street stock indexes, all of which had lost more than 1.5 percent in late afternoon trading. European equities fell 2.1 percent (.FTEU3: Quote, Profile, Research) on Monday, hit by weakness in financial shares.

The greenback earlier hit a 12-year low of 1.1155 Swiss francs <CHF=>. A fall beneath 1.11 would mark a record low.

Both the yen and Swiss franc gain when investors shed risk because the low-yielding currencies are often used to finance purchases of higher-yield -- and higher-risk -- assets.

The high-yielding Australian dollar <AUD=>, on the other hand, shed 0.8 percent against the greenback. The U.S. dollar also rose more than 1 percent against its Canadian counterpart <CAD=>.

The euro fell 1 percent to 161.04 yen <EURJPY=> but was little changed against the dollar at $1.4663 <EUR=>.

Most analysts expect dollar pressure against the euro to pick up again, as the greenback faces a number of obstacles.

Policy-makers from 20 industrialized and developing economies did not single out the dollar at a weekend meeting in South Africa. But markets expect dollar weakness and inflation to soon force Middle East oil exporters to stop pegging their currencies to the greenback.

Kuwait made that move earlier this year and the United Arab Emirates said last week it may follow suit. The Gulf Cooperation Council, which includes Saudi Arabia, Qatar, Oman and Bahrain, is expected to review currency issues at a Dec. 3-4 meeting.

Delegates at a weekend meeting of the Organization of the Petroleum Exporting Countries clashed over whether to consider pricing oil against a basket of currencies to counter a weak U.S. dollar. [ID:nL18446547]

Were OPEC to quit pricing oil in dollars, markets would likely sell greenbacks for fear exporters would shift some foreign exchange reserves out of the U.S. currency.

"All of this leaves the dollar rather vulnerable to further falls over coming weeks," Calyon strategists said in a research note forecasting the euro would reach $1.50 by year-end.

Some Federal Reserve officials have stressed inflation risks to the U.S. economy, but markets still widely expect the central bank will slash 4.5 percent benchmark rates by a quarter-percentage point at its December meeting.

© 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 20 October 2017

Register for the Amazing Trader


Amazing Trader EVENT RISK Calendar:

Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook

Potential Trading Opportunities

  • POTENTIAL PRICE RISK: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.

  • POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing statistic.

John M. Bland, MBA
co-founding Partner,

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated


Trader's Advocate Articles..


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.



Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105