User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday June 20, 2014 - 00:14:12 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar off lows after upbeat data, still down on the week

7:36pm EDT

* Dollar index steadier, off one-month lows

* Upbeat U.S. data helps counter dovish Fed

* Sterling outperforms after more signs of economic strength

By Ian Chua

SYDNEY, June 20 (Reuters) - The dollar stayed under pressure early on Friday, but managed to reverse some of its losses in a quieter session overnight after upbeat U.S. data helped temper the fallout from the Federal Reserve's surprisingly dovish policy outlook.

Data offering more evidence the U.S. economy was recovering from a disastrous first quarter helped lift the dollar index to 80.317 from a one-month trough of 80.147. Still, it was down 0.3 percent on the week, its biggest decline in two months.

Investors had sold the greenback after the Fed on Wednesday sounded comfortable about the outlook for inflation despite recent signs of a pick-up in price pressure.

That dashed some expectations the Fed might have to start lifting interest rates earlier than expected and initially helped push U.S. Treasury yields down.

But data on Thursday showed new claims for jobless benefits fell last week and factory activity in the mid-Atlantic region accelerated in June, prompting Treasury yields to reverse higher.

"The rates market appeared to have second thoughts about Wednesday's post-FOMC reaction, with yields reversing some of their decline and helping the USD stabilize as well," analysts at BNP Paribas wrote in a note to clients.

"We think the bias remains to the upside for U.S. yields from current levels, with the passage of time likely to force greater pricing of rate hike risk absent renewed deterioration in the data."

Against the yen, the dollar climbed back towards 102.00 yen from Thursday's low of 101.74, while the euro eased back to $1.3610 from a two-week high of $1.3644.

The Norwegian crown stole the limelight by plunging over 2 percent on Thursday after the country's central bank hinted at the possibility of a cut in interest rates, stunning markets that had wagered the next move would be up.

The dollar surged to 6.1178 crowns in its biggest one-day gain in more than a year, while yields on short-term Norwegian debt tumbled 20 basis points.

The best performer overnight was sterling, which hit a 5-1/2 year high of $1.7064 thanks in part to local data that showed factory orders grew at their fastest pace in six months in June.

The robust report highlighted the risk that the Bank of England could raise interest rates well before the Fed.

The Australian dollar dipped back to 94 U.S. cents, while its New Zealand counterpart remained stuck near 87 cents after retreating from a six-week high of $0.8736.

Asia has little to offer in terms of key economic data on Friday, leaving the focus on stock markets, which looked set to open higher after another record high for the U.S. S&P 500 . (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