Forex News Blog
Back to The Headlines
Share This Story
FX Blog- TTN European Market UpdateEuropean Market Update: Risk Aversion Sets in on SIV Default Rumors in Canada
Â· *** ECONOMIC DATA ***
Â· SZ Feb CPI: M/M 0.1% v 0.2%e || Y/Y 2.4% v 2. 4%e
Â· SZ Q4 GDP: Q/Q 1.0% v 0.5%e || Prior revised from 0.8% to 0.9% |||| Y/Y 3.6% v 2.8%e || Prior revised from 2.9% to 3.0%
Â· SP Feb Net Change in Unemployment: 53.4K v 132.4K prior
Â· SP Feb Consumer Confidence: 76.8 v 70.9 prior
Â· UK Feb Construction PMI: 52.4 v 53. 0e
Â· EU Jan PPI: M/M 0.8% v 0.8%e || Y/Y 4.9% v 4.9%e
Â· EU Q4 Preliminary GDP: 0.4% v 0.4%e || Y/Y 2.2% v 2.3%e
Â· EU Q4 Preliminary Gross Fixed Capital: 0.8% v 0.7%e
Â· EU Q4 Preliminary Government Expenditures: -0.1% v 0.1%e || Prior revised from 0.6% to 0. 7%
Â· EU Q4 Preliminary Household Consumption: -0.1% v 0. 0%e
Â· *** SPEAKERS/COMMENTS ***
Â· Former Fed Chairman Greenspan said that the US growth rate of economy activity is effectively zero || Greenspan added that he was not prepared to say the US is entering a recession and added that the probability that the country will experience some negative growth is better than 50/50. [Financial Times]
Â· ECB''s Quaden: Euro strength has both advantages and disadvantages || Excessive FX volatility must be avoided || US authorities must reaffirm the strong dollar policy || Inflation is a big concern
Â· Juncker says Euro forex rates will not impact real economy || Unwise to have targets for Euro forex rate
Â· SZ KOF: Swiss growth can top 2.0% in 2008 || Swiss economy is holding up well
Â· BE Finance Minister: Welcomes the US'' concern on currencies || Could be the first step to collaboration on currencies || It is normal to be concerned about the Euro || Says that the ECB president is concerned about FX rates
Â· SW Riksbank''s Nyberg: Market uncertainty will persist for a long time || Wanted to wait in repo rate hike at last meeting citing financial market turmoil || Market turmoil has worsened in recent months || Cost pressures are high || Inflation expectations have risen || Riksbank''s monetary policy situation is unusually difficult
Â· ECB''Orphanides: Expects Euro-Zone economic growth to slow in 2008 vs. 2007 || Slower growth helps to restrict inflation || Oil prices remain a concern
Â· *** FIXED INCOME/FX/COMMODITIES/ERRATUM ***
Â· European fixed income futures are trading lower in the session following a slight improvement in stock sentiment and a slight recovery in the dollar seen late yesterday. The spread between the Italian 10-year and the 10-year bund reached 49bps overnight, the widest since the start of the EMU, while the spread between the Greek 10-year, and the 10-year bund reached 50bps on the back of a strike at the Bank of Greece. The Swiss fed bond future opened lower in the session, but was relatively unaffected by the uninteresting CPI data for February as well as the stronger than expected fourth-quarter growth figures. The shape of the European yield curves is relatively unchanged from yesterday. In new supply overnight the Austrian AFFA sold â‚¬1.1B in 4. 30% September 2017 RAGBs with an average yield of 3.98% and abid-to-cover of 1.76x. Over in the UK the DMO sold Â£2.5B in 4.50% 2013 gilts with an average yield of 4.269% and a bid-to-cover of 2.48x. The cover compares to the 2.48x seen at the last auction of the old issue. Looking ahead, with no data scheduled in the US today the Bank of Canada rate decision will be in focus in both Canada and the US. The general consensus over what the Bank of Canada will do today is widely split between a 25bps rate cut and a 50bps rate cut with exactly 50% of those surveyed anticipating a 25bps cut and the other 50% anticipating a 50bps cut. The BOC decision is due at 9:00 et. Another point of focus in Canada will be the Bank of Montreal. There were rumors overnight indicating that two of the bank''s SIV funds are in technical default.
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
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Register To Test Your Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 20 October 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales
Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.
- POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing statistic.
co-founding Partner, Global-View.com
EXCLUSIVE: Global-View Daily Trading Chart Points Updated
EXCLUSIVE: Global-View Free Forex Database updated
TRADER ADVOCACY ARTICLES
Trader's Advocate Articles..