User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday June 17, 2008 - 11:19:21 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - European Market Update: German Zew Falls to Fresh 15-Year Low; UK CPI Prompts Explanatory Letter


·SP Q1 Labor Costs: 5.1% v 4.1% prior

·SZ Q1 Industrial Production: Q/Q -9.3% v -5.1% || Y/Y 4.3% v 7.5%e || Prior revised from 9.1% to 9.2%

·IT Apr Total Trade Balance: -€1.0B v -€1. 1Be || Prior revised from -€545M to -€538M

·IT Apr Trade Balance EU: €770M v €300Me || Prior revised from €667M to €676M

·UK May CPI: M/M 0.6% v 0.4%e || Y/Y 3.3% v 3.2%e || Core Y/Y 1.5% v 1.5%e

·UK May RPI: M/M 0.5% v 0.4%e || Y/Y 4.3% v 4.2%e || Y/Y Ex-Mortgage 4.4% v 4. 1%e

·GE Jun ZEW Economic Sentiment: -52.4 v -42.5

·GE Jun ZEW Current Situation: 37.6 v 37.0e

·EU Jun ZEW Economic Sentiment: - 52.7 v -43.6 prior

·EU Apr Trade Balance: €2.2B v -€1.5Be || Prior revised from -€2.3B to -€1.5B

·EU Apr Trade Balance sa: €2.2B v - €500Me || Prior revised from -€2.4B to -€1.1B


·After the close overnight Kraft Foods (KFT) announced its intention to split-off its Post Cereals business. The split-off transaction is in connection with the merger of Cable Holdco and Ralcorp Mailman LLC, which is a subsidiary of Ralcorp Holdings, Inc. (RAH). Luminex Corporation (LMNX) announces the public offering of up to 3. 5M shares of common stock overnight, representing approximately 9.5% of shares outstanding. Cemex (CX) guided Q2 revenues “above $6.4B” v $6.17Be. The company cut its FY08 EBITA outlook to $5.3B from $5.6B. Computerlinks [CPX.GE] received an offer from Platin 274 at €15.50/share representing a 38.7% premium to yesterday's closing price. Skyepharma [SKP.UK] announced overnight that Flutiform met its primary endpoint in a second phase III efficacy study. Elan (ELN) and Wyeth (WYE) announced overnight that phase 2 trial results of Bapineuzumab for Alzheimer's disease failed to reach the primary endpoint.

·In the newspapers overnight the Financial Times wrote that Goldman Sachs (GS) is close to finalizing a plan to restructure a $7bn investment vehicle formerly run by London-based hedge fund Cheyne Capital, in a move that could potentially usher in a crucial new phase in the credit turmoil.

·In energy news overnight, According to data released by the head of the Senate's Energy Committee, speculators hold close to 70% of all of the outstanding WTI oil contracts. The Financial Times wrote overnight that the
US wants China to be more transparent about its oil reserves. The Times of Oman wrote overnight that there are indications that Saudi Arabia could seek to have Western governments lower their domestic fuel taxes, if the oil producing nation decides to raise output. The Iranian President said overnight that the Market is full of oil adding that the rising price trend if take and imposed.

·In fixed income realted news overnight the Financial Times wrote overnight that financial markets are in danger of getting carried away with their expectations for Fed rate hikes. According to the article, there is a belief that the market may be pricing in too much tightening too soon. The Financial Times wrote overnight that, in order to save the Lisbon Treaty,
Ireland may be offered added guarantees of its sovereignty. The measure could seek to maintain Ireland's ability to levy taxes or maintain its neutral position. The Wall Street Journal noted overnight that on Tuesday, the US Treasury to meet with bankers and regulators to discuss the feasibility of lenders using covered bonds to raise capital. The Wall Street Journal wrote overnight that a consortium of global money-market funds aims to create a market which will allow banks to borrow funds from each other or central banks.

·In currencies dealers were digesting various factors that are impacting FX including pending central bank decisions, M&A news, option barriers, commodities, as well as quarterly and half-year end. However, the main event drivers were the UK CPI data, which came in above expectations, and the German ZEW survey, which missed expectations falling to fresh 15 year lows. The GBP/USD spiked to 1.97 following the UK CPI data, but failed to sustain upward momentum. Cable tested session lows of 1.9555 following the release of the BOE letter to Exchequer noting the dilemma of central banks in the environment of higher inflation and slowing economic growth. The EUR/USD started the European session moving from its best levels of 1.5550 as dealers took note of Bini Smaghi's comments that one rate hike of 25bps should be sufficient to curb Euro-Zone inflation. The EUR/USD broke below the 1.5470 following the fresh 15-year low of the ZEW survey. In currency news overnight, according to Arab News citing a report about Saudi oil investment plans “the GCC would continue to face inflationary pressure as long as currencies of the member states are linked to a weak US dollar, given the tendency of the Federal Reserve to cut interest rates further.” The report said that “At the same time, any move by GCC countries to change their dollar-peg policy would have a negative effect on their plan to establish a monetary union by 2010”. The report urged the GCC governments to introduce the monetary union “without delay.”

·On the speaker front the ECB's Bini Smaghi said in an interview with Il Sole 24
Ore that a 25bps rate hike would bring inflation down to about 2.0%, adding that ECB policy does not need to follow that of the US. Bini Smaghi noted that the Euro-Area is more protected than the US from shock, and said that the rise in oil prices may leave a mark in the second half. The EU Business Chief said overnight that he hopes for limited action from the ECB, adding that high oil and food prices are likely to persist for a long time. The Business Chief added that he understands the need for policy action. The Business Chief also said that EU firms are coming to terms with the high Euro exchange rate, adding that the Irish “no” vote on the Lisbon Treaty will not impact business confidence. A ZEW economist said following the that the German economy will lose steam over the next six months adding that an ECB rate increase is weighing on sentiment and will harm the economy. The economist said that he still sees German GDP growth around 2.0% this year. Spanish Central Bank Chief Economist Malo de Molina said overnight that the global situation is adverse for Spain. In his explanatory letter to the exchequer the BOE's King said that inflation should peak at the end of 2008, and will remain markedly above target in 2009. King said that the government will support the BOE's decisions noting that the rate path necessary for the BOE to meet its inflation target is uncertain.

·*** NOTES ***

·Interesting, humorous, and probably useless this <http://www.> is at least worth a glance and a laugh as it further highlights some people's concerns about an ECB rate hike at the July policy-setting meeting.

·As noted earlier, the ECB's Bini Smaghi said in an interview with Il Sole 24
Ore that a 25bps rate hike would bring inflation down to about 2.0%. While a handful of other ECB members have indicated that the ECB is not about to set out on a rate tightening path, Smaghi's comments seem to reinforce that the ECB aims to meet its price stability mandate with a sole interest rate hike for the time being. The “one more and that's it” tone also seems to suggest that perhaps the uncertain ECB members acquiesced the hawkish members rather than adopting the hawkish view. This hit the Euro and added a little confidence to the fixed income futures in early European trading today.

·There were a few articles scattered around in some of the major
US and European newspapers overnight speculating that markets are well ahead of themselves in pricing in multiple Fed rate hikes in 2008.


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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

John M. Bland, MBA
co-founding Partner,

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.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

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.

Request a TRIAL of Max's Forex Service.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

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