User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday July 3, 2008 - 10:47:50 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - European Market Update: Euro-Zone Retail Sales Beat Estimates Ahead of ECB Decision and Non- Farm Payrolls


·SZ June CPI: M/M 0.2% v 0.3%e || Y/Y 2.9% v 3. 1%e

·SP June Services PMI: 36.7 v 43.3 prior

·SW Riksbank raised rates by 25bps to 4.50% as expected

·IT June Services PMI: 48. 5 v 47.7e

·FR June Final Services PMI: 50.1 v 49.2e

·GE June Final Services PMI: 52.1 v 53.3e

·EU June Final Services PIM: 49.1 v 49.5e

·EU June Final Composite PMI: 49.3 v 49.5e

·SP June Consumer Confidence: 51.7 v 56.4 prior

·UK June Services PMI: 47.1 v 49.5e

·EU May Retail Sales: M/M 1.2% v 0.6%e || Y/Y 0.2% v -0.7%e

·IC Sedlabanki holds rates at 15.50% as expected


·On the equity front overnight Singulus [SNG.GE] reported overnight that it exceeded its expected Blu-Ray order volume in the 1H. The company sees additional orders in 2H, and currently targets market share of over 65%. An analyst at Dresdner said overnight that European banks may rebound by 10%-15%. The analyst did not provide a time frame for the expected rebound. Verband der Chemischen Industrie (VCI), the German Chemical industry association, said that the industry will not experience a slump, and forecasted 2008 sales growth of 5.5% y/y

·In new supply overnight Spain's Tesero Pùblico sold €1.496B in 3-year 4.1% bonds with an average yield of 4.956% and a bid- to-cover of 1.48x, as well as €1.555B 5-year 4.75% Bonds with an average yield of 4.862 and a bid-to-cover of 1.56x. In
France the Agence France Trèsor sold €2.72B in 4.00% April 2018 bonds with an average yield of 4.85% and a bid-to-cover of 2.07x, as well as €710.0M in 4.25% April 2019 bonds with an average yield of 4.87% and a bid-to-cover of 4.54x, and €1.95B in 4. 25% April 2023 bonds with an average yield of 5.00% and a bid-to-cover of 1. 62x.

·In fx all eyes have turned towards the ECB ahead of its scheduled monetary policy meeting. The USD was steady ahead of the ECB's rate decision and press conference. The EUR/USD has held above the 1.5850 level throughout the European morning. Front month crude hit fresh all- time highs above the $145.20 level as a potential ECB rate hike would spur a commodity buying bunge for inflationary hedging purposes. The GBP maintained a soft tone as weaker PMI data and cautious comments on the
UK housing sector weigh on sentiment. The SNB noted that a new inflation surge and weak CHF are a concern. The EUR/CHF is currently off of its best levels and testing the 1.61 handle

·On the speaker front US Treasury Secretary Paulson said overnight that that both US and UK economies are focused on the economic downturn. Paulson said that core inflation is relatively contained, adding that the focus is on the downside risk in the capital markets, with oil prices and housing remaining a concern. Paulson noted that there is a lot can be done about economic downturn.

·Following their decision to boost rates by 25bps to 4.50% Riksbank said that the Repo rate will have to be raise a few more times, adding that the Swedish economy is expected to slow further. Riksbank boosted its forecast for the repo rate to 4.8% by Q4, up from the previous forecast of 4.3%, and noted that it expects the rate to peak at 4.9% in Q3 of 2009. Riksbank also boosted their 2008 CPI forecast to 3.9% from 3.5%, and raised the 2009 CPI forecast to 3.5% from 2.8%. Furthermore, Riksbank cut its 2008 GDP forecast to 2.1% from 2.6%, and cut its 2009 GDP forecast to 1.2% from 1.8%.

·The SNB said in their monetary policy report that a new inflation surge and CHF weakness would be a cause for concern. The SNB reiterated that signs indicate that current inflation surge is temporary, nothing that they anticipates slowing growth in the coming quarters. The SNB noted that it sees inflation remaining above 2% until Q2 2009, adding there is a considerable uncertainty regarding inflation outlook

·*** NOTES ***

·The Spanish services PMI for the month of June came in at 36.7. The reading was the worst in the measure's 9-year history, and was also the lowest number recorded for any of the PMI reading in the Euro-Zone.

·Looking ahead the ECB's interest rate decision is due out at
7:45 ET today. The ECB is widely expected to raise interest rates by 25bps for the first time in 13 months to 4.25%. There has been some chatter circulating that perhaps the ECB could raise rates by 12.5bps in lieu of 25bps in order to maintain its inflation-fighting credibility, and to provide an excuse for market participants to take profit in commodity related instruments. Chatter of a 12.5bps rate hike began circulating a couple of weeks ago after a number of ECB members used the term “small rate hike”. Since then the debate has been whether the ECB member were indicating that one rate hike would suffice, or that a hike of less than 25bps would suffice. Considering that the ECB has never struck out with a rate move of less than 25bps many market participants have dismissed this as a possibility today. Whatever the case may be the ECB's post rate announcement press conference will also be monitored for any indication as to what the ECB might do moving ahead.

·Non-farm payrolls data in the
US is due out one day early ahead of the Independence Day holiday in the US. Estimates range from -130K to -20K, with the current consensus at - 60K. Market participants will also be looking for any revisions to May's - 49K reading. Note that the ADP employment change, although unreliable and volatile, often seen as a precursor to the non-farm release, came in at - 79K yesterday. The unemployment rate is expected at 5.4%. The data is due out at 8:30 ET.


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 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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