User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday April 14, 2008 - 11:58:46 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

European Market Update: UK PPI Data Soars in March

European Market Update: UK PPI Data Soars in March

· *** ECONOMIC DATA ***

· FR Mar Bank of France Sentiment: 105 v 106e || Prior revised from 107 to 106

· SW Mar CPI: M/M 0.9% v 0.7%e || Y/Y 3.4% v 3.2%e

· SW Mar Underlying CPI: M/M 0. 9% v 0.5%e || Y/Y 2.3% v 2.1%e

· UK Mar PPI Input: M/M 1.8% v 1.9%e || Prior revised from 1.7% to 1.9% |||| Y/Y 20.6% v 19.3%e || Prior revised from 19.4% to 19.7%

· UK Mar PPI Output: M/M 0.9% v 0.5%e || Prior revised from 0.3% to 0.5%e |||| Y/Y 5.6% v 6.2%e || Prior revised from 5.7% to 5.9%

· UK Mar PPI Output Core: M/M 0.3% v 0.4%e |||| Y/Y 3.1% v 3. 0%e || Prior revised from 3.0% to 3.1%

· EU Feb Industrial Production: M/M 0.3% v 0.2%e || Prior revised from 0.9% to 0.6% |||| Y/Y 3. 1% v 2.9%e || Prior revised from 3.8% to 3.3%

· *** SPEAKERS/COMMENTS ***

· ECB's Quaden: Inflation in the euro zone was not likely to fall into the central bank's target range any time soon || Current monetary policy stance and interest rates appropriate || Unclear if inflation will slow down if growth slows down

· ECB's Liikanen: Real risk wage deals will add to inflation pressure || Euro area growth ongoing, but risks to the downside

· ECB's Wellink: No leeway for rate cut, must watch 2nd round effects || Not sure slower growth to help ease price pressure

· ECB's Mersch: Cannot rule out upward revision for ECB inflation forecast || Sees no room for rate cuts

· ECB's Gonzalez- Paramo: ECB tools working well, short-term rates stabilized well

· SNB's Roth: Vigilance is need on European inflation || Swiss inflation to remain relatively high || Inflation rates are a temporary phenomenon || Optimistic on inflation falling below 2% in H2.

· SZ Swiss Economic Minister: IMF Swiss GDP forecast is very pessimistic || Sees no reason to lower 2008 GDP forecast

· EU The Spanish government to spend €10B per year on an economic stimulus package || Of the €10B, €6B will be used on €400 rebates for tax payers || Funds will also be used to help finance small and medium-sized firms and guarantees for banks that extend loans to those buying subsidized housing. [The Guardian]

· GE Finance Minister: To meet with representatives of the Kuwait Investment Authority at the end of May || The meeting is reportedly to clear up misunderstandings as sovereign wealth funds are viewed with caution in Germany. [Der Spiegel]

· Deutsche Bank is seeking to sell as much as $20B of LBO related debt to a group of investors || The report follows press speculation of LBO debt sales by Goldman and Citigroup [WSJ]

· FR Economy Minister Lagarde: Regarding G7's FX stance, says we are all concerned by the current, brutal fluctuations as they are bad for growth || Bankers at G7 admitted their collective responsibility for the credit crisis

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

· In equities news overnight M&A activity along with poor earnings results were the focus of the session. Royal Philips Electronics reported a 75% y/y decline in first-quarter net income, falling well below analysts' estimates. Sales results fell slightly below estimates, however the company did reaffirm its 2010 EBITDA margin target of 10%-11%. Groupe Danone opened lower in the session, but pushed higher on the back of a 18. 7% y/y rise in first-quarter sales, along with its FY08 revenue growth forecast of 8%-10% and its EPS growth forecast of 15% or more. M&A news overnight included was varied. Titian Europe elaborated on news circulating this weekend. Titan Europe announced that it was in preliminary talks for the US-based Titan International to acquire the rest of the shares that it does not already own in the company in an all share deal. According to the preliminary terms, the Titan Europe shareholders would receive 1 Titan International share for every 8 Titan Europe shares they own. UK-based industrial holding company Enodis announced overnight that it will be acquired by the US-based Manitowoc for 260p/share, in a deal valued at £948M. Under the terms of the Offer, Enodis Shareholders will receive 258 pence in cash for each Enodis Share. In addition, prior to the Scheme becoming effective, Enodis will pay a dividend of 2 pence per Enodis Share in lieu of an interim dividend in respect of the financial year ending 30 September 2008. Manitowoc expects that the deal will be accretive to earnings in FY09. Finally, what is, thus far, likely to be the talk of the morning, Blockbuster announced that, in a letter to the Circuit City chairman sent on February 17th, it offered to acquire the company in an all cash merger with a price range of $6.00/share to $8.00/share. Blockbuster noted that Circuit City has failed to provide the due diligence necessary for Blockbuster to make a definitive proposal. Blockbuster announced that by releasing this news it believes the shareholders of Circuit City should have the opportunity to participate in determining the destiny of the company.

· Following this weekend's G7 meeting there was a large handful of central bank speakers on the wires overnight. While much of the commentary from ECB members was in line with recent ECB rhetoric, some of the “less hawkish” members were “stepping it up”. The ECB's Mersch said that he sees no room for rate cuts, adding that upward revisions to the ECB's inflation forecast cannot be ruled out. Similarly, the ECB's Wellink said that there is no leeway for interest rate cuts, while the ECB's Quaden said that Euro-Zone inflation is not likely to fall into the central bank's target range anytime soon. Elsewhere the Swiss National Bank's Roth said overnight that vigilance is needed on European inflation, adding that Swiss inflation is seen remaining relatively high, but is expected to fall below 2.0% during the second half of the year. Once again, the commentary all follows the G7 meeting this past weekend, where G7 changed its verbal stance on currencies for the first time in around four years. While the new statement was equally as vague as the previous statement, it did have a more aggressive, definitive tone. Recall additionally that prior to the meeting, the German Finance Minister said on Friday that the Euro at $1.60 massively impacts Germany's economic interest. While this commentary has been heard and heard again in France, this is one of the first comments of this nature from a ranking German official. All in all, an ECB rate cut is looking less and less likely in 2008, but perhaps some hard-line currency intervention is in the works.

· Fixed income futures opened higher in the session on the back of weaker equity markets, but slowly drifted lower throughout the early session. The most movement was seen in long- gilts, which were quickly knocked into negative territory following the release of stronger than expected PPI data for the month of March. There was no new supply in the UK, nor in the Euro-Zone overnight, however the Greek PDMA head did deny the imminent 10-year launch. France, Italy, and Germany will collectively supply €17.5B this week. The Italian auctions are scheduled for Tuesday, with an aggregate €4.0B in 2013 BTPs and 2014 BTPs. Germany will sell up to €7.0B in 2010 schatzs on Wednesday. In France, the AFT will sell €5.0B to €5.5B in 2010 BTAN, and 2013 BTAN, as well as €1.0B to €1.5B in 2013 OATi and 2020 OATei. In the UK, the DMO will sell £2.25B in 2042 bonds in Thursday's session.

· On the data front the Bank of France business sentiment fell shy of estimates overnight, accompanied by a downward revision to the back month reading. Both headline and core CPI data exceeded expectations in Sweden overnight. March PPI data was mixed in the UK. PPI put beat out estimates reaching its highest y/y level since March of 1980. Similarly, PPI output beat out estimates posting its highest y/y read since March of 1991. PPI output core was mixed; the y/y reading edged out estimates, while the m/m reading fell slightly below. In the Euro-Zone, February industrial production data was slightly ahead of estimates, however there were some heavy downward revisions to January's readings. Finally, Portuguese CPI data for March was slightly ahead of expectations on both headline and harmonized bases, seeming to further confirm the ECB's inflationary outlook.

· In energy related news overnight OPEC's head of petroleum market analysis said that diverging trends within the global oil markets may start to play out during coming months, which could undermine oil prices. The OPEC representative added that the recent oil price gains are more related to the weak USD. Statoilhydro announces gas discovery in Norwegian Sea; the discovery has an estimated 1.5 BCM of recoverable gas.

· In currencies, the EUR/USD drifted higher during the European session aided by continued by hawkish ECB inflation talk. Although G7 did amend its wording its forex portion of the communiqué, noting that it would not watch USD continue to weaken, dealers seemed keen to test USD downside to see where G7 would actually act. The JPY was initially firmer as renewed concerns over the financial market crisis resurfaced ahead of earning seasons. WSJ reported that Deutsche Bank is seeking to sell as much as $20B of LBO related debt to a group of investors. Wachovia moved up its earnings, prompting chatter of a possible writedown. The JPY was retracing its gains as equity markets recovered from their worst levels in the session.

· As it stands now, the European indices are in negative territory, but are off of their worst levels of the session, and could see positive territory if they continue to follow their current path. Fixed income futures are in the lower end of their respective session ranges, however are back in positive territory. The European yield curves are relatively flat, while swap spreads have posted a modest rise. Looking ahead, focus is likely to fall upon March advanced retail sales, and February business inventories in the States, as well as comments from the Fed's Warsh, and the ECB's Trichet, both of whom are expected to speak in New York later today.

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 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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