User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday March 19, 2008 - 11:16:10 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

European Market Update: BOE Voted 7-2 to Hold Rates in March

European Market Update: BOE Voted 7-2 to Hold Rates in March

· *** ECONOMIC DATA ***

· IT Jan Industrial Orders: M/M 2.6% v 1.3%e || Prior revised from -5.4% to -5.6% |||| Y/Y 6.9% to 5.0%e

· IT Jan Industrial Sales: M/M 4.6% v 1.1%e || Prior revised form -2.7% to -2.6% |||| Y/Y 6.1% v 4.5%e

· UK Feb Claimant Count Rate: 2.5% v 2.5%e

· UK Feb Jobless Claims Change: -2. 8K v -5.0Ke || Prior revised from -10.8K to -9.1K

· UK Jan Average Earnings Including Bonus: 3.7% v 3.8%e

· UK Jan Average Earnings Excluding Bonus: 3.7% v 3.8%e

· UK Jan ILO Unemployment Rate: 5.2% v 5.2%e

· UK BOE Minutes Show Vote of 7-2 to hold rates at March 6th policy-setting meeting vs. market consensus of 8-1 vote.

· *** SPEAKERS/COMMENTS ***

· BOE Minutes: BOE Minutes: Gieve, Blanchflower wanted cut in rates to 5.0% || BOE Majority: 'roughly on track' for CPI back to target in the medium-term || BOE Majority: Successive cuts could exaggerate market response || BOE Minority: US economic prospects had deteriorated || BOE Minority: Does not see second round effects from energy prices; Policy stance may still be on the restrictive side

· *** FIXED INCOME/FX/COMMODITIES/ERRATUM ***

· The European fixed income futures opened lower in the session following comments from the ECB's Weber published in the Handelsblatt Newspaper late yesterday. Weber reiterated the ECB mantra that price stability is the Central Bank's number one priority. Bonds gained upside momentum early on during the session on the back chatter that a UK bank was in trouble. The chatter, which has been circulating for the past few days, coincides with a series of engagement cancellations by European central bankers, adding to speculation that something is amiss. HBOS share declined sharply and were eventually suspended on limit down, however shares later retraced some of their losses after a spokesperson laid waste to the rumors. Similarly, a Bank of England spokesperson said that talk that the BOE is canceling its Easter break is absolute rubbish. Long-gilt futures posted a small gain following the BOE minute from the March 6th policy setting meeting. Minutes showed a vote of 7-2 with both Gieve and Blanchflower dissenting in favor of a 25bps rate cut. The market consensus was for a vote of 8-1. The BOE majority said that CPI is roughly on track to move back to its target in the medium-term, while the minority argued that the BOE's policy stance may be on the restrictive side in light of further deterioration in the
US economic outlook. The next policy-setting meeting is scheduled for April 10. The market consensus is for the BOE to leave rates unchanged at 5.25%, however a recent survey of 31 economists showed that at least 6 expect a 25bps rate cut. In other news the Bundesrepublik Deutschland Finanzagentur announced its auction schedule. The Finanzagentur will sell an extra €7.0B in 3.00% 2-year schatz on April 16; an extra €5.0B in 5-year bond on May 7; €7.0B in a new 10-year bund on May 28; and €8.0B in a new 2-year schatz on June 11.

· The European indices are currently in negative territory in the session after a positive open. The indices declined on the back of continued speculation that a major UK bank was in trouble. Chatter was focused around HBOS, but rumors became rumors laid waste following comments from an HBOS spokesperson. Despite this there is still some speculation that the BOE will make an announcement about HBOS or perhaps another notable bank in the
UK later this morning. Share of Air Italia are sharply lower today after Spinetta Newspaper cited an Air France spokesperson noting that the deal between the two airlines is at risk. Elsewhere shares of Societe Generale are trading lower after BNP Paribas said that it will not seek a merger with the company. Sony Ericsson said overnight that first-quarter sales are expected to post a y/y decline in 2008, while gross margins are expected to be relatively stable. Ericsson said that moderating sales growth is impacting pretax, while a component shortage is hurting earnings. EasyJet said overnight that they see their second half results, and full-year pretax below their previously issued guidance if current fuel prices persist. UBS and Panmure promptly cut their ratings on EazyJet following the announcement. Following good earnings results from Goldman Sachs and Lehman Brothers yesterday, earnings results are due from Morgan Stanley during the US pre-market today. Morgan Stanley is expected to report earnings of $1.03 on revenue of $7.18B. Ross Stores, General Mills, and Charming Shoppes are also expected to report this morning.

· On the commodity front spot gold has been slowly creeping back towards the $1000-handle, riding a wave of safe haven flows on renewed market chatter of trouble in the
UK banking sector. Following declines in the European equity markets copper futures have made their way into positive territory, however gains have been modest. Front month crude oil futures are currently trading in negative territory in the session, but are not far off from the $110-handle. Inventories data due out later today is expected to show a 2.3M barrel rise in crude inventories, a 1.55M barrel decline in distillate inventories, and a 400K barrel decline in gasoline inventories.

· Risk aversion remains the main trading theme today despite the FED's policy action yesterday as well as better-than-expected corporate earnings from
US brokerage firms Lehman Brothers and Goldman Sachs. The JPY rebounded from Tuesday's losses to regain some upside momentum. The EUR/JPY is at 154.90 after testing 156.60 in Asia, while the USD/JPY is at 98.3 after testing parity earlier and GBP/JPY off 350 pips at 197-level. Comments from China's PBoC noting that the US dollar is likely to continue to depreciate during the remainder of the first half of 2008 before a possible retracement later in the year against the major currencies. The EUR/USD tested up to 1.5785 in the aftermath of the Chinese comments. The GBP is broadly weaker as numerous UK banks have been mention as having ''liquidity issues''. The GBP/USD tested below the 2.0-level during the course of the European morning.

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

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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

John M. Bland, MBA
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..

pic

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 Global-View.com.

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

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.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105