User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday October 16, 2014 - 01:07:52 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar sharply lower after weak data raises growth fears

8:50pm EDT

* More U.S. data in focus after Wall St's tumble overnight

* Recovery by equities seen key to stopping dollar slide

By Shinichi Saoshiro

TOKYO, Oct 16 (Reuters) - The dollar was sharply lower on Thursday, its appeal deeply dented after poor U.S. data sparked growth concerns that sent equities tumbling and Treasury yields plunging.

Already on shaky ground after being buffeted by lingering growth concerns over the past few sessions, a string of downbeat economic data including weak retail sales and manufacturing activity numbers dealt Wall Street a fresh blow overnight, sending the S&P 500 down by as much as 4.4 percent.

Safe-haven U.S. Treasuries rallied in response, with the benchmark 10-year yield momentarily slicing below the 2 percent threshold to a 17-month trough.

The dollar fell to a five-week trough against the yen and a three-week low versus the euro as yields slid. The greenback came off lows as Treasury yields partially retraced their decline, although bargain hunters were half-hearted in their bids.

"There are those out there buying the dollar on dips, but it is difficult for them to commit themselves unless U.S. equities first recover and stop the decline in Treasury yields," said Junichi Ishikawa, a market strategist at IG Securities.

"There was a fair number of long positions on the dollar that had built up and the recent volatility has provided a good opportunity for fast money accounts to clear out their positions before their books close in November," he said.

Against the yen, which tends to benefit from risk aversion, the dollar was little changed at 105.885 after hitting the five-week low of 105.195.

A slide in Tokyo stocks to a 4-1/2 month low boosted demand for safe-haven yen and firmly capped the dollar.

The greenback has come hurtling down from a six-year high of 110.09 hit at the start of the month, when expectations of an early rate hike by the Federal Reserve were significantly stronger amid a rosier outlook for the U.S. economy.

The euro was little changed, fetching $1.2817 and within reach of a three-week high of $1.2835 hit overnight.

The common currency, battered by prospects of the European Central Bank easing monetary policy further to stave off deflation in the euro zone, had stooped to a two-year low of $1.2500 earlier this month before the dollar's fortunes took a turn for the worse.

The euro bounced back against the yen, up 0.3 percent at 135.92 after hitting an 11-month low of 135.04 overnight.

The dollar index fell 0.3 percent to 84.848 after slipping to a three-week low of 84.472 overnight.

The currency market will once again brace for U.S. data, such as September industrial output and weekly jobless claims due later in the session, and their impact on equities and Treasuries.

Commodity currencies such as the Australian dollar, sensitive to potential changes in global demand, slipped 0.4 percent to $0.8796 after gaining more than a percent overnight. (Editing by Eric Meijer)

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