User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Sunday May 11, 2014 - 23:50:17 GMT
Reuters -

Share This Story:
| | Email

FOREX-Euro steadier but still in the doldrums on ECB threat

7:29pm EDT

* Euro opens steadier after big falls in last two sessions

* Prospect of ECB policy action to keep currency pinned down

* No major Asian data on Monday

By Ian Chua

SYDNEY, May 12 (Reuters) - The euro started the week on a steadier footing after two straight sessions of steep losses, but should stay under pressure amid the persistent threat of policy action from the European Central Bank.

The common currency, which plumbed a one-month trough of $1.3745 on Friday, last stood at $1.3759. It has dropped more than 1 percent since Thursday when Mario Draghi said the bank was ready to take action next month should updated inflation forecasts merit it.

Against the yen, the euro was at 140.15, not far from a two-month trough of 139.88. On the Australian dollar, it bought A$1.4698, having touched a one-month low of A$1.4674.

Prospect of fresh stimulus from the ECB saw benchmark Italian and Spanish bond yields fall to record lows on Friday in a broad-based rally in peripheral euro zone sovereign debt.

Traders said the drop in the euro may be done for now as investors wait for fresh reasons to sell the currency. They will be paying close attention to a number of ECB speakers this week including Vice-President Vitor Constancio.

"The market will seek confirmation of the ECB's willingness to act," analysts at Barclays Capital wrote in a note to clients.

Investors will also be keeping an eye on developments in Ukraine amid fears the country is sliding into civil war. Pro-Moscow rebels on Sunday declared a resounding victory in a referendum on self-rule for eastern Ukraine.

The setback in the euro helped the dollar index jump to its highest in over a week at 79.915, a dramatic turnaround from a 20-month trough of 78.906 plumbed on Thursday. It was last at 79.859.

The greenback was little changed on the yen at 101.86 , having found good support again in the 101.40 area.

Commodity currencies were also steady, holding onto recent gains on the U.S. dollar. The Australian currency fetched $0.9362, still within striking distance of a one-month peak of $0.9395 set on Thursday.

There is little in the way of major economic releases out of Asia on Monday. On Tuesday, China's industrial output and retail sales for April will be the highlight. (Editing by Shri Navaratnam)

Thomson Reuters 2014. All rights reserved.




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 LIVE to YOUR charts

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 27 May 2019
AAGB/US- Holiday
Tue 28 May 2019
A 14:00 US- Consumer Confidence
C 13:00 US- Case-Shiller
Wed 29 May 2019
A 08:55 DE- Employment
AA 18:00 US- BOC Decision
A 18:30 US- EIA Crude
Thu 30 Mar 2019
AAEZ/CH- Holiday
A 12:30 US- Weekly Jobless
Fri 31 Mar 2019
AA 10:00 EZ- Flash HICP
A 12:30 US- Personal Income, Spending, Deflator
AA 14:00 US- Final Univ of Michigan

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


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
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

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
The Amazing Trader
Forex Opportunities
Forex Affiliates
Forex CopyTrading
GVI Forex