User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday February 12, 2008 - 11:15:59 GMT

Share This Story:
| | Email

Forex Research - Euro: ZEW Bounces But Little Help; Pound CPI Reverses PPI -- Back to Easing For BoE?

Tuesday, 12 February 2008 10:44:02 GMT

Written by Boris Schlossberg, Senior Currency Strategist

The ZEW survey printed at –39.5 vs. –43.0 as investor sentiment bounced from 15 year lows, but the news provided only a modest lift to EURUSD and the pair was trading essentially unchanged on the day after the news hit the screen.

Talking Points

•    Japanese Yen: Trades up to 107.00 on general dollar strength equities quiet
•    Euro: ZEW bounces off 15 year lows
•    British Pound: CPI  cold BRC index shows some bounce
•    US Dollar: Monthly Budget Data, Investor sentiment on tap

The ZEW survey printed at –39.5 vs. –43.0 as investor sentiment bounced from 15 year lows, but the news provided only a modest lift to EURUSD and the pair was trading essentially unchanged on the day after the news hit the screen. Part of the reason for the non-response was the horrid decline in the current conditions gauge which slipped to 33.7 from 56.6 the month prior. The current conditions reading  suggests that the credit crunch that has gripped most of the G-10 universe may be exerting a particularly painful toll on the EZ economy which is further hampered by the restrictive monetary policy of the ECB.

In fact the current conditions reading which is derived by polling analysts, may have been a not-so-subtle appeal for relief from the EZ financial sector  to Mr. Trichet and company. The ZEW however, carries only a minimal impact on policy considerations and for a more complete picture of economic conditions traders will have to wait for next week’s IFO report to see if the deterioration of growth has reached the region’s industrial sector. Should that occur the ECB may become much more serious about considering the potential downside risk to growth that have developed over the past several months.

Meanwhile in UK, CPI data reversed all of the speculative gains from yesterday’s stronger than expected PPI print as it printed much lower than expected. On a core basis CPI registered a very timid 1.3% gain – far colder than the 1.5% forecast - and well below BoE’s 2% target rate. Tonight’s news confirmed cable bear’s argument that despite escalating price pressures on producers, pricing power in UK economy remains remarkably weak as consumers, burdened by record debt are beginning to curb spending. 

The CPI news stood in contrast to the latest report from the BRC released earlier in the night, which showed an jump of 2.6% on a year over year basis, the fastest pace in four months. Many analysts however noted that the gain in the retail spending was made at the expense of heavy discounting. In short, the latest economic data from UK suggests that revenue growth for UK businesses will be challenging while costs will continue to remain elevated putting a squeeze on profit margins. Under such conditions the BoE may feel compelled to ease more aggressively and sterling is likely to remain under selling pressure especially if tomorrow claimant count numbers begin to show a deterioration in the labor markets as well.

The North American session again has very little event risk as the US calendar is back end loaded with most of the key reports  beginning tomorrow. The general theme over the past several weeks has favored the greenback on the “growth” policy initiatives of the Fed as currency markets have focused less on interest rate differentials and more on possible severity of economic slowdown scenarios amongst the G-3. However, we think the attention of the market may begin to shift towards considering structural issues, if the TICS report due Friday shows a downside surprise.  Capital flows remain critical to the viability of US economy and so far they have been more than sufficient to finance the Trade Deficit. However, if the market begins to see signs of slowdown in investment flows for US financial assets that fact may be more important to the fate of the dollar than any slowdown in US economic activity and the EURUSD could resume its upward trend.
Will EZ slowdown as much as US? Join us in the EURUSD forum


©2007 DailyFX. 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 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