User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday May 23, 2008 - 10:44:56 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - European Market Update: French Consumer Spending Takes a Hit

·*** ECONOMIC DATA ***

·FR Apr Consumer Spending: M/M -0.8% v 0.5%e || Prior revised from -1.7% to -1.0% |||| Y/Y 0.4% v 2.0%e

·FR May Preliminary Manufacturing PMI: 51.3 v 51.0e

·FR May Preliminary Services PMI: 50.7 v 52.9e

·GE May Advanced Manufacturing PMI: 53.5 v 53.2w

·GE May Advanced Services PMI: 53.7 v 54.0e

·EU May Advanced Manufacturing PMI: 50.5 v 50.5e

·EU May Advanced Services PMI: 50.6 v 51.7e

·EU May Advanced Composite PMI: 51.1 v 51.5e

·IT Apr Trade Balance Non-EU: -€1.78B v - €1.81Be

·UK Q1 Preliminary GDP: Q/Q 0.4% v 0.4%e; Y/Y 2.5% v 2. 5%e

·UK Q1 Preliminary Private Consumption: 1.3% v 0.5%e

·UK Q1 Preliminary Government Spending: 1.0% v 0.5%e

·UK Q1 Preliminary Gross Fixed Capital Formation: -1.6% v 0.2%e

·UK Q1 Preliminary Exports: 0.0% v 1.0%e

·UK Q1 Preliminary Imports: -0.6% v 0. 5%e

·UK Mar Index of Services: 0.5% v 0.5%e || Prior revised from 0. 3% to 0.4%

·IT Q1 Preliminary GDP: Q/Q 0.4% v 0.2%e || Y/Y 0.2% v 0. 4%e

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

In equity news overnight American Ecology (ECOL) announced a 20% increase to its quarterly dividend, bringing the dividend up to $0.18/share. Bunge (BG) announced an 11.8% increase to its quarterly dividend, bringing the dividend up to $0.19/share. AtheroGenics' (AGIX) ARISE trial results published in the Lancet show that the study missed its primary endpoint in diabetes. Expro [EXR.UK] has received a £1.7B or £15.25/share cash bid from Halliburton. Recall that on 5/18 the Telegraph wrote that Halliburton (HAL) may was mulling a £1.8B for the company. British Energy [BGY.UK] announced overnight that talks with
Suez [SZE.FR] have ended.

·In the newspapers the Wall Street Journal's Heard on the Street section looked at Lehman's (LEH) reliance on one-time gains overnight, noting that some investors are questioning Lehman's earnings report from the prior quarter as some are asking whether its profit was due to some one-time items. According to Cinco Dias, Cintra Concesiones de Infraestructuras [CIN.SP] holder Grupo Ferrovial [FER.SP] boosted its stake in the company from 65% to 68%. According to a piece in FT Alphaville Friends Provident [FP.UK] In talks with bidders for the sale of its 52% stake in F&C.

·In energy news overnight ENI's (E) Indonesian unit announced that it has been awarded exploration rights for a block in part of
Indonesia's Kasuri oil area, while Cnooc (CEO) was awarded exploration rights for the South East Palung Aru block. The Wall Street Journal noted overnight that part of the recent rise in oil prices is due to short covering by energy producers and others betting against a decline in prices. The article said that some oil producers who entered into futures contracts to sell oil are finding they locked in prices at as little as half of what oil currently trades in the spot market. The article adds that some speculators misjudged the top of the oil market. The Wall Street Journal wrote overnight that some US lawmakers are looking to end bans on domestic drilling. Oil drilling is not currently allowed on most of the waters off of Florida's coast, the East coast and the West Coast. In the Independent Jeremy Warner wrote that oil prices will eventually decline, but not without considerable collateral damage. As the world economy slows, Warner wrote, the best guess remains that oil and other commodity prices will follow the usual cyclical pattern of eventually falling back to more affordable levels. As energy and fuel bills rise, consumption is likely to suffer across the board, threatening a return to the "stagflation" of the 1970s. Even so, the West isn't as dependent on oil as it was back then and, as I say, per capita consumption of energy in the developed world is already so high that it can easily be reduced without causing undue hardship. The pain caused in the developing world is, on the other hand, likely to be much more extreme. Here there is little room for reduced energy consumption. As higher energy and food prices eat into already squeezed family budgets, there is the threat of serious economic and social dislocation. As with all bubbles, it is impossible to know when prices will correct. The oil price could as easily go to $200 a barrel before once more returning to earth. Yet return it certainly will if it succeeds in pushing the global economy into recession.

·In fixed income related news, according to the Financial Times, Pimco's Gross has almost tripled his holdings of mortgage debt to more than 60% of his fund. Gross said he has decided to invest more in mortgage debt due to the
US government's implicit guarantee of Freddie Mac and Fannie Mae. The Financial Times noted overnight that UK banks are moving away from lending to commercial property developers leading to increased margin calls. The Telegraph wrote overnight that Economists continue to doubt the strength of UK retail sales data, noting that some economists believe that official data is providing a rosier picture than reality. Some economists believe that official retail sales figures are failing to capture the impact the credit crisis is having on the consumer. The Royal Bank of Scotland updated its ECB rate forecast overnight and now predicts that the ECB will hold rates in 2008, and cut rates in 2009.

·On the speaker front, according to wires citing a newspaper article, the ECB's Weber reiterated overnight that he sees no Leeway for an ECB rate cut. The French budget minister said overnight that
France is not immune from a US slowdown, adding that Euro FX movements have calmed down. The EU's Almunia said overnight that he sees Euro-Zone inflation levels around 3.0% in 2008. The ECB's Bonello said overnight that it is important that wage demands do not lead to an inflation spiral, adding that the ECB sees inflation rising in 2008, and closer to 2.0% in 2009.

·On the data front the French consumer spending data for the month of April was notably lower than expected with the y/y reading falling to its lowest level since November of 1997 on the back of declines in both the cars, and the textiles/leather components. Preliminary first-quarter GDP in the
UK was in line with consensus expectations at 0.4% q/q and 2.5% y/y. First quarter exports were 0.0%, below estimates of 1.0%, while imports were -0.6%, below estimates of 0.5%.

·Looking ahead, things are pretty quiet ahead of the extended weekend. On the data front April existing home sales data is due out at
10:00 ET. There is no new supply scheduled in the US today, nor are there any central bank speakers scheduled. Furthermore, no notable earnings reports are due this 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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

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

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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