User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday June 19, 2008 - 10:32:59 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - European Market Update: UK Retail Sales Skyrocket; SNB Holds Rates at 2.75%



·*** ECONOMIC DATA ***

·SZ May Trade Balance (CHF): 1.87B v 1.58Be

·SZ SNB holds rates at 2.75% as expected

·UK May Retail Sales: M/M 3.5% v -0.1%e || Prior revised from -0.2% to -0.3% |||| Y/Y 8.1% v 4.1% || Prior revised from 4.2% to 3. 8%

·UK May Public Finances: £11B v £6.5Be || Prior revised from £1. 0B to -£900M

·UK May Net Borrowing: £11B v £9.3Be || Prior revised from -£500M to £1.8B

·UK May Preliminary M4 Money Supply: M/M 0.4% v 0.5%e || Prior revised from 0.6% to 0.5% |||| Y/Y 10.0% v 10.5%e || Prior revised from 11.1% to 11.0%

·UK May Preliminary M4 Sterling Lending: £4.8B v £18.7Be || Prior revised from £27.9B to £28.8B

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

·In sector rotation overnight Goldman Sachs raised the Oil Services sector to an Attractive rating from a Neutral rating. Leap (LEAP) announced amendments to its credit agreement overnight to resize and amend certain baskets and exclusions to reflect the growth in the Company's business and ongoing business expansion activities. The amendment permits the Company to incur additional unsecured debt, to issue certain preferred stock, and to make certain other modifications. HBOS [HBOS.uk] said in an trading update overnight that trading continues to be satisfactory, guiding a tier 1 ratio of 8%-9%, and noting that mortgage arrears remain in line with forecasts. HBOS also said that they see the
UK economy weakening further in 2008. Cadbury [CBRY.UK] said overnight that they see 1H growth above its 4%-6% goal range, adding that they see double digit growth across all segments. Cadbury also said that they are confident of positive results in 2008 despite challenging economic conditions and increasing input costs. An analyst at Goldman Sachs commented on the European financial sector noting that Goldman expects that UBS faces Q2 'earnings headwinds' of CHF4B, Credit Suisse faces possible CHF1.1B markdowns and Deutsche Bank faces 'earnings' headwinds of €480M.

·In the newspapers, according to the Financial Times Telefonica [TEF.SP] wants to acquire a 10% stake in China Unicom (CHU). The Financial Times also wrote that Telefonica is not looking to buy a stake in Telecom Italia [TIT.IT] According the New York Times Exxon (XOM), Shell [RDSA.UK], Total [FP.FR], BP [BP.UK] and Chevron (CVX) are in talks with the Iraqi government regarding no-bid contracts for some of the country's biggest oil fields. The article notes that agreements are expected to be announced on June 30. According to Il Sole 24
Ore Credit Suisse [CSGN.SZ] and Goldman Sachs (GS) may bid for Banca Monte de Paschi Siena's [BMPS.IT] asset management unit.

·In energy news overnight the Venezuelan Oil Minister said that oil markets are adequately supplied, and noted that he will not attend the Jeddah meeting. The Oil Minister said that he expects the lowest price for WTI in 2008 to be $100/barrel, adding that he does not plan to raise output and will only do so if OPEC agrees to. The Financial Services Authority (FSA) said that it could veto American efforts to impose regulation on the
London oil market, as the City took centre stage in an escalating row over the role of speculators in driving up the global price of crude oil. Goldman raised its 2008 Brent crude average price forecast by 9% to $117/barrel overnight. Goldman raised the2009 average price forecast by 27% to $140/barrel, and raised the 2010 average price forecast by 25% to $150/barrel. An Iranian official said overnight that Iran has informed big powers that it is ready to negotiate over a nuclear incentives package. Royal Dutch Shell [RDSA.UK] shut down its 225K bpd Bonga oil field overnight following an attack. Shell noted that no force majeure has been declared after the Bonga attack.

·In new supply overnight
Spain sold €1.87B in July 2018 bonds with an average yield of 4.841%, and a bid-to-cover of 1.55x. In France the AFT sold €2.02B in 3.75% September 2010 BTAN with an average yield of 4.84% and a bid-to- cover of 2.649x, as well as €2.485B in 3.75% January 2013 BTAN with an average yield of 4.91%, and a bid-to-cover of 2.066x. In related news the Wall Street Journal wrote overnight that US Treasury Secretary Paulson is expected to call for increased power for the Fed. According to the article Paulson also is expected to advocate faster changes regarding the oversight of banks. A related report in the Financial Times said that Paulson is expected to say the bailout of Bear Stearns has increased expectations of similar bank bailouts in the future.

·In currencies the USD was mixed in European trading overnight. The GBP was broadly firmer following better than expected retail sales data from the
UK. The GBP/USD rose 100 pips to 1.9695, The EUR/GBP fell 50 pips to 0.7875, and the GBP/JPY firmed by 100 pips to 212.25. Dealers noted that SONIA swaps are currently pricing in approximately 44% probability that the BOE will raise interest rates by 25bps in July, up from about 16% yesterday. The USD gained against the Euro and Swiss Franc during the session. The SNB decision to hold its 3-month target at 2.75% prompted some covering of short USD positions as interbank traders were betting that the SNB could surprise the market at today's policy meeting. The USD/JPY is steady at 107.85 but off earlier lows after BoJ Governor Shirakawa reiterated that the Japanese economy was slowing due to effects from high energy and commodities prices.

·*** NOTES ***

·The SNB left interest rates on hold at 2.75% overnight as was widely expected. The SNB commented noting that they believe that current inflation will be temporary, adding that the medium-term inflation outlook still allows for an unchanged policy. The SNB's quarterly rate decision comes two weeks before the ECB is due to announce results from its July policy-setting meeting. While the ECB seems bent on raising rates in July, it is interesting to note whether or not the ECB will consider the SNB's view on the inflation situation.

·
UK retail sales were sharply ahead of expectations with the y/y reading at its highest level since April of 2002, while the m/m reading was the highest since records began in 1986. Coupled with comments from the BOE's minutes yesterday if the data flow continues in this manner more central bank speakers are likely to consider rate a rate hike at the next policy setting meeting.

 

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