User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday October 13, 2008 - 12:10:31 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - European Market Update: Armageddon or opportunity???

Today 05:53am
European Market Update: Armageddon or opportunity???


- (CH) China China Trade surplus for Sept $29.3B vs $24.5Be; Exports: 21.5% v 20.0%e; Imports: 21.3% v 22.9%e

- 2:45 (FR) France Aug Current Account: -€4.2B v -€4B

- 3:15 (SZ) Switzerland Sept Producer & Import Prices M/M: -0.5% v -0.3%; Y/Y: 3.7% v 3.9%e

- 4:30 (UK) Sept PPI Input M/M: -1.2% v -1.5%e; Y/Y: 24.5% v 19.8%e; PPI Output M/M: -0.3% v -0.4%e; Y/Y: 8.5% v 8.8%e; PPI Output Core M/M: -0.1% v -0.1% e; Y/Y: 5.4% v 6.0%e

- 5:50 (NE) Netherlands to sell up to EUR12B in extra auction.


- In equities: HBOS.UK [HBOS.UK] Lloyds revised acquisition terms. HBOS share holders will be granted 0.605 Lloyds share for 1 HBOS share, Co's to raise £17B in capital || Royal bank of Scotland [RBS.UK] Planed to raise £20B in capital, I a deal underwritten by UK Govt. It announced the departure of its CEO. The UK Treasury would buy £5B in preferred stock at 65.5p/shr. The bank would further raise £15B in ordinary shares in measures aimed at raising tier-1 capital ratio. RBS would continue disposal program, identifying non core assets. Lastly no dividend will be paid on ordinary shares until the Preference Shares have been repaid. It is the Board's intention to repay the Preference Shares as soon as possible || Barclays [BARC.UK] To raise £6.5B in Tier 1 capital and added that it would not pay final dividend for 2008. The Board expected that the additional capital will be raised from investors without calling on the government funding which has been offered to UK banks. Issue of preference shares is to raise £3B by December 31. its intention is to resume dividend payments in the second half of 2009. || Philips Electronics [PHIA.NV] Reported Q3 Rev €6.3B below analvst estimates of €6.72B. its ; Net €357M vjust above estimates of €352Me. The company noted that it would slow down it €5B share repurchase program. It remained cautious on Q4 end-market demand and cited weaker consumer demand in mature markets || Deutz [DEZ.GE] Revised its 2008 outlook on engine sales putting the figure now at 260K compared to 286K y/y;. the company stated that it saw Chinese growth slowing down. It sees 2008 revenue to grow 2% and guided 2% FY EBIT margin. || Telefonica [TEF.SP] Reaffirmed all 2008 ragets and announced an additional 50M shares to its share repurchase program. || Premier Foods [PFD] Confirmed discussions to reduce debt and that its trading was in line with expectations. The company stated it was in talks with private equity groups to secure cash injection in most recent attempt to sure up balance sheet || Standard Chartered [STAN.UK] Stated that it met UK capital requirements and would not participate in UK govt recapitilization plan , although it welcomed the decisive action taken by the UK Government to stabilize the UK banking system as a whole. || Tui [Tui.GE] Reportedly confirmed sale of its Hapag-Lloyd shipping unit to Hamburg-led Consortium for €4.45B. It plans to pay an undisclosed special dividend to investors with some of the proceeds and spend €700M to buyback a stake in the shipper. || Aztrazeneca [AZN.UK] CEO stated that its IPO and venture capital options are falling as financial crisis reduced access to capital. The chief added that pricing will be challenging in the future

- Speakers: ECB's Wellink stated that State puts money into good companies; they will always have positive returns. Notes Netherlands' support for its financial system can go quite far and is confident that support for financial system will work. - Says declining price pressure made interest rate cut possible || (EU) ECB's Stark: Coordinated rate cut was a signal to markets. declining price pressure made interest rate cut possible || ECB'S Bini Smaghi: ECB will not substitute private banking firms or take over commercial paper lending and noted that there would not be another Lehman Brothers || Poland Central Bank Gov stated that its Gov't should reconsider date for entering Eurozone. The official stated that the Polish banking system has no liquidity problems, but ready to act if liquidity issues arise. Interms of monetary policy, the central bank sees lots of arguments justifying need for interest rate cutbut would wait for Oct. inflation projection and Q3 economic data. It did not there are several reasons to at least suspend potential rate increase. || UK's Darling stated that Banks receiving govt funds would have to increase their offering of mortgage and small business lending and added that the UK was experiencing extraordinary times and that the UK bank takeover plan was a crucial step, adding that banks must be run on a commercial basis and that the stabilization and reconstruction are govt aims. the taxpayers would not lose out on their investment. Lastly other global governments should follow the example of the BoE || SNB's Roth said the SNB may cut rates if the economy worsens. Bank must strengthen capital base and reduce debts || ECB's Noyer stated that the current financial crisis is a major test for valuation frameworks and stated that market based valuation is as good as market's performances || Swedish PM Reinfeldt said that Sweden is taking measures to fight the financial crisis, including bank guarantees. He added that the Government was considering increasing deposit guarantees and that the EU accord was a first and most crucial step. Lastly taxpayers should not have to pay for the measures enacted to combat the financial market crisis

- In currencies: The USD and carry-related pairs retraced some of their storng price movements seen last week on the bank of the UK and European bailout plans. EUR/USD back above the 1.36 handle while EUR/JPY probe the 137 area. EUR/CHF testing the 1.54 neighborhood.. ECB's Bini Smaghi stated that the Euro would maintain its strong currency status and that the last couple months do not reflect long-term trend. The ECB member noted that EUR/USD at $1.55 was "too high." Russia may change interest rates but no plans to amend its rouble trading band.

- In energy: A Saudi Aramco official said the company will maintain and ship contracted oil supplies to Asia in November. It noted that it would cut supplies to Europe in the next month. || Reportedly, Goldman Sachs has been restricted from making a market in price assessment agency Platts' daily oil trading window as counterparty anxiety grows. However, However, the restrictions on its commodities trading arm J Aron are not as severe as those placed earlier on some rivals, who were effectively barred from participating in the window.

- In Fixed Income: The UK's DMO confirmed to raise £37B and reopen one short-dated gilt auction under new program. The agency would seek views on feasibility of fresh new benchmarks. It anticipated scheduling new auctions from Oct 20th through year-end and it sought views on merits of two auctions on given day

- Credit Crisis Update: The UK announced its plan to make tier 1 capital available to banks in a scheme valued at £37B. The govt will take steps to boost liquidity and aid in restructuring in various banking entities. ||EU approved Ireland bank guarantee plan. || German financial market rescue package reportedly totaling €470B in whiit would €400B in bank guarantees and another €70B in bank capital according to an unconfirmed draft bill || Goldman Sachs Analyst comment on the weekend proposal by the EU noting that the European bailout plan appears to be “comprehensive”. Russia Federation Council approves RUB950B and $50B rescue package || Reportedly Japan Fin Min is mulling guaranteeing all bank deposits || Itraxx Crossover Index at 690 bps; down 40bps from Friday || European bourses exhibited strong gains on the open. Dealers noting that advances are linked to financials so another round of rumors could impede fragile sentiment.

*** NOTES ***

- The initial market response has been positive to the G7, European and G20 comments but dealers note that the proposals so far are lacking specific key details. The widespread government intervention on a worldwide basis to prop up ailing banks looks likely to give equity traders some initial upward momentum. European equities surged over 6-7% in early trading but are slowly seeing these gains erode over the course of the morning. Government guaranteeing of bank lending has the key focus and rallying point. All eyes continue to watch the Libor fixing rates to see if the credit markets buy into the euphoria of the plan. The US cash bond market is closed due to a banking holiday while Japanese markets were also closed today. Corporate earnings will begin to pick up steam this week with several notable financial names to reports with JPM, C, MER, WF, BK expected to report this week. Focus also on the Morgan Stanley-Mitsubishi developments.

Looking ahead:

- 6:30 BOE's Sentence

- 8:00 US Treasury's Kashkari

- 8:00 US's Fed Hoenig




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