European Market Update: European Markets Turn Lower Ahead of Extended US Weekend
Â· *** ECONOMIC DATA ***
Â· FR Jan BOF Business Sentiment: 107 v 103 prior || Prior revised from 103 to
Â· FR Q4 Preliminary Non-Farm Payrolls: 0.4% v 0.3%e
Â· FR Q4 Preliminary Wages: 0.3% v 0. 5%e
Â· SP Jan CPI: M/M -0.6% v -0.6%e || Y/Y 4.3% v 4.4%e
Â· SP Jan Core CPI: M/M -1.0% v -0.9%e || Y/Y 3.1% v 3.3%e
Â· SP Jan Harmonized CPI: M/M -0.6% v -0.6%e || Y/Y 4.4% v 4.4%e
Â· EU Dec Trade Balance: -â‚¬4.2B v â‚¬500Me || Prior revised from â‚¬2.6B to â‚¬3. 0B
Â· EU Dec Trade Balance sa: -â‚¬2.1B v â‚¬2.5Be || Prior revised from â‚¬2.7B to â‚¬2.0B
Â· *** SPEAKERS/COMMENTS ***
Â· UK economic outlook: Alistair Darling could see his budget deficit more than
triple to an unprecedented Â£150B if the economy grinds to a halt || The report
said a major downturn in the coming months, with the economy shrinking by 1.0%,
"could see public borrowing rise as high as Â£100B or even Â£150B per annum,
blowing the fiscal framework to smithereens and perhaps even leading to some
rise in the Government''s relative cost of borrowing". [Telegraph]
Â· Bank of France: Forecasts Q1 GDP at 0.5% (first forecast) || Jan industry
output increased || New orders strengthened || Books are high and are above
normal || Finished goods stocks are up slightly
Â· GE Finance Minister: Forecasts German GDP growth of 1.7% in 2008 || Stimulus
package may lead to an ECB rate hike || Market crisis to last well into 2008 ||
Sees no signs fo recession in Germany
Â· GE Finance Minister: IKB bailout to prevent damage to financial system || â‚¬1.
0B in aid for IKB to come from earnings from dividends || Government may face
an extra â‚¬200M in IKB costs || Private banks have pledged â‚¬300M to the IKB
Â· *** FIXED INCOME/FX/COMMODITIES/ERRATUM ***
Â· European fixed income futures are currently trading in negative territory in
the session with little economic data to provide any guidance. The lower opens
comes as follow through on comments made by the ECB''s Weber and the ECB''s
Trichet in the previous session, as well as a sell off in the long-end of the
treasury curve in the US. There has been a slight flattening in
the 2/10-year spread in Germany overnight, however the spread remains
within range of its recently made multi-month high. Heading into the extended
weekend in the US bunds could gain some support due to a
general lack of optimism surrounding the credit market, however it is likely
that big news will be necessary for this. Over in the UK gilt futures are trading higher in the
session and are outperforming their European counterparts following the Bank of
England''s quarterly inflation report on Wednesday as well as the 2042 gilt
auction yesterday. In new supply the Portuguese treasury has mandated Banco
Espirito Santo, Barclays, BNP Paribas, Calyon, and SG CIB to managed a new
benchmark 10-year OT due to be sold in the coming weeks, according to source
reports. Belgium announced plans to sell a new 3-year
benchmark OLO 53 overnight as well. That auction is scheduled to take place on
February 25. Over in France the AFT announced that it plans to offer
an between â‚¬5.0B and â‚¬5.5B in 2010, 2011, and 2013 BTANs on February 21.
Â· On the commodity front crude oil has been between the $95 and $96 handles for
the duration of the session thus far. Oil remains elevated by renewed concern
over Exxon''s row with Venezuela, as well as general concerns about the
economic outlook for the US economy. Crude is also gaining support
from the smaller than expected rise in inventories posted on Wednesday. Elsewhere
Gold is trading higher in the session, and has spent time on both sides of the
$910-handle throughout the session. Elsewhere silver and copper futures are
trading up as well as market participants seek refuge from the weakening
Â· The European indices are currently mixed. After spending the earlier part of
the session in positive territory the indices sold off ahead of on seemingly little news. Some analyst
have attributed the decline to a Citgroup note circulating that says that UBS
could take another CHF20B in writedowns in 2008. In equity news overnight, EU25
new car registrations for January declined by 0.2% compared to January of 2007.
The German Finance Minister said overnight that the IKB bailout will prevent
damage to financial system, noting that â‚¬1.0B in aid for IKB will come from
earnings from dividends. He added that the Government may face an extra â‚¬200M
in IKB costs noting that private banks have already pledged â‚¬300M to the IKB
rescue. Elsewhere, earnings from Deutsche Postbank were positively received.
Deutsche Postbank reported fourth-quarter writedowns of â‚¬51M, but noted that
risk provision is expected to rise in 2008. Deutsche Postbank''s CEO later
commented on the market noting that subprime will speed up consolidation in the
German banking sector.
Legal disclaimer and risk disclosure
All information provided by Trade The News (a
product of Trade The News, Inc. "referred to as TTN hereafter") is
for informational purposes only. Information provided is not meant as investment
advice nor is it a recommendation to Buy or Sell securities. Although information is taken from sources deemed
reliable, no guarantees or assurances can be made to the accuracy of any information provided. 1. Information can be inaccurate and/or incomplete
2. Information can be mistakenly re-released or be
delayed, 3. Information may be incorrect, misread,
misinterpreted or misunderstood 4. Human error is a business risk you are
willing to assume 5. Technology can crash or be interrupted without notice 6.
Trading decisions are the responsibility of traders, not those providing
additional information. Trade The News is not liable
(financial and/or non-financial) for any losses that may arise from any information provided by TTN. Trading securities
involves a high degree of risk, and financial losses can and do occur on a
regular basis and are part of the risk of trading and investing.
Forex Trading News
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
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.
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.com
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.
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.
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.
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.
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 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 Global-View.com.
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 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.
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.
Global-View.com 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 Global-View.com. 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.
WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.