User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday July 2, 2008 - 10:39:17 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - European Market Update: Euro-Zone PPI Hits All Time Y/Y High

*** ECONOMIC DATA ***

·NO June PMI: 49.3 v 52.3e

·SP June Net Change in Unemployment: 36.8K v 15.1K prior

·IT Q1 Deficit to GDP ratio: 4.7% v 1.3% prior || Prior revised from 1.3% to 1.9%

·UK June Construction PMI: 38.8 v 43. 1e

·UK Q1 BOE Housing Equity Withdrawal: £5.0B v £5.3Be || Prior revised from £7.3B to £7.4B

·EU May PPI: M/M 1.2% v 0.9%e || Prior revised from 0.8% to 0.9% |||| Y/Y 7.1% v 6.7%e || Prior revised from 6.1% to 6.2%

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

·Deutsche Bank [DBK.GE] said overnight that they expect a profitable Q2, guiding a tier 1 ratio of around 9%. The bank added that it sees no further capital requirement. Taylor Wimpey [TW.UK] reported year-to- date sales -13% y/y overnight, noting that weekly sales rates are significantly lower. The company said that it expects housing to remain weak at least through 2008, and said that it will cut 900 jobs. The homebuilder also noted that it failed to raise funds. The gloomy report weighed heavily upon homebuilding shares in the
UK.

·In the newspapers Les Echos reported overnight that
France's Iliad [ILD.FR] and Bollore Telecom are seeking to have Google (GOOG) invest in their WiMax networks. The Wall Street Journal reported overnight that Microsoft (MSFT) has talked with other media companies in recent days about forming a group to pursue a break-up of Yahoo (YHOO). UBS' [UBSN.SZ] Chairman Kurer said in an interview with Finanz & Wirtschaft that the company does not need to raise new capital.

·In energy news overnight the Venezuelan Oil Minister said that global prices of oil have reached "equilibrium". The Times reported overnight that the
UK PM may talk with Russia's President in order to settle the TNK-BP [BP.UK] [GAZP.RU] dispute. According to an unconfirmed report OPEC's Secretary General reiterated that there is no shortage of oil supply.

·In currencies the USD was mixed in trading on Wednesday, while the GBP was broadly weaker following the reports from
UK homebuilder Taylor Wimpey. The GBP/USD continued to sustain momentum to hold above its 200 day moving average at 1.9977. The GBP/USD was lower by 85 pips at 1.9885, while the EUR/GBP was at 0.7956, up 40 pips from its opening levels seen in Asia. The EUR/USD continued to probe the former option barrier resistance level of 1.5850, but was unable to find the momentum to break the level. Comments from EU's Almunia that noting the that Euro is "overvalued" helped to stabilize the USD ahead of Thursday's ECB interest rate decision.

·In new supply overnight
Germany sold €4.615B in July 2018 bunds with an average yield of 4.66% and a bid-to-cover of 1.1x. The cover on the previous auction was 1.2x. In the UK the DMO sold £2.25B in 4.50% December 2042 gilts with an average yield of 4.697% and a bid-to-cover of 1.55x. The auction had a yield tail of 0. 7bps. Regarding the emerging markets the Financial Times reported that Venezuelan regulations designed to reduce forex speculation could trigger the collapse of several banks.

·On the speaker front the Fed's Lockhart said overnight that the Fed's policy is to react decisively against inflation. Lockhart reiterated that Dollar depreciation and strong overseas growth have helped
US exports, adding that he sees Q2 growth "substantially" above Q1's growth level of 1.0%, but he does not expect much of a pickup during 2H08. Furthermore Lockhart noted that headline inflation is high and rising, and CPI is above personal comfort level, but added that there is little indication inflation has factored into wages. The EU's Almunia said in an interview with La Vanguardia overnight that stagflation is an obvious risk, noting tht Europe should devote all its efforts to fighting inflation. Almunia noted that a large portion of subprime related losses have yet to show up, adding that he expects market confidence to return by mid-August 2009. Almunia reiterated that the Euro is overvalued, but noted that the ECB needs to follow its mandate on price stability. The Italian Finance Ministry forecasted 2008 GDP of 0.0%-0.5% overnight. The German VDMA group said overnight that May plant and machinery orders are down 12% y/y. The ECB's Trichet said overnight that inflation may "explode" if the ECB remains hesitant, adding that only decisive action can deal with CPI. The German HDE Retail Association cut it 2008 nominal sales growth forecast to 1.5% from 2.0%

·*** NOTES ***

·We're unlikely to see a surprise from the ECB tomorrow, but then again if we were all anticipating one it wouldn't be much of a surprise. With that in mind the Swedish, and Icelandic interest rate decisions have the potential to be slightly more interesting than the ECB decision as consensus estimates vary. Back to the ECB, Trichet's is likely to maintain that the ECB plans to maintain its price stability mandate at the post-announcement press conference. Language will remain key though as market participants will be looking for any indication on what the ECB may do over the coming months.

 

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 20 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales


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: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.


  • POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing 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