User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday October 27, 2008 - 10:14:41 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - European Market Update: The week begins where it left off with risk aversion and de-leveraging

Today 06:00am

European Market Update: The week begins where it left off with risk aversion and de-leveraging


- (SP ) Spanish Sept Producer Prices M/M: -0.7% v -0.4%e; Y/Y: 8.1% v 8.5%e

- (SW) Swedish Sept Trade Balance: SEK10.6B v SEK1.5Be

- (SW) Swedish Sept Household Lending Y/Y: 9.7 v 9.6%e

- (GE) German Oct IFO - Business Climate: 90.2 v 91.0e; Current Assessment: 99.9 v 97.0e; Expectations: 81.4 v 85.0e

- 5:00 (EU) Euro-zone Sept M3 Y/Y: 8.6% v 8.5%e; 3 Mth Ave: 8.9% v 8.8%e


- In equities: Deutsche Post [DPW.GE] Confirmed press speculation and lowered its 2008 EBIT forecast to €2.4B v €2.9B prior. The company withdrew guidance for 2009 but sees 'profit progress' || Deutsche Post bank [DPB.GE] Reported Q3 Pretax loss €449M and cited the financial market crisis for negative results. It announced a capital increase through rights offering and Guaranteed entire capital increase at subscription price of €18.25/shr. It noted that its agreement with Deutsche Bank remained on track. Its tier 1 ratio would improve to 6.9% after capital increase and scrapped its FY08 dividend payment || KBC [KBC.BE] To receive €3.5B capital increase from Belgian Government , and to issue debt securities which would not dilute shareholders stake. The bank would not pay dividend in 2008 and added that its executive committee has already agreed upon forgoing bonuses.

- Says no impact on business strategy

- Tier 1 now above 8%

Royal bank of Scotland [RBS.UK} Press speculation circulating chatter that the bank would announce some writedowns of £4.50 to £5.0B later this week || Merck KGAA [MRK.GE] Reported Q3 Net €200.1M versus €202M estimates. Its operating profit €309.3M in line with consensus of €310Me. The company beat revenue expectations with €1.98B compared €1.86B estimates. Merck KGAA reaffirmed its FY08 targets with revenue growth of 5% to 9% seen (unchanged from prior view) and tightened Merck Serono sales target to 8% to 10% from prior view of 7% to 11%. || Lonza [LONN.SZ] Guided EBIT growth in mid-high teens through 2013. The company saw solid demand in their businesses going forward with pipeline "aligned to support growth expectations"|| SGS [SGSN.SZ] Guided FY08 Rev growth at 10%, sees strong demand for all services || DSM [DSM.NV] reported Q3 Net Profit €182M v €176Me (ex items), EBIT €267M v €256Me, Rev €2.36B v €2.40Be. It lowered its FY08 EBIT outlook citing that parts of materials sciences and of base chemicals and materials have seen weakening end markets. It did note that it saw the performance of Nutrition remains strong

||Basilea Pharm [BSLN.SZ] Presents data on novel Antibiotic BAL30072 in which showed that the minimal inhibitory concentrations of BAL30072 for many strains of beta-lactam-resistant Gram-negative bacteria were lower than those of comparator antibiotics, providing evidence of BAL30072's high antibacterial activity in vitro. || Roche [ROG.SZ] ROG.SZ: Mabthera continues to improve patient response in Rheumatoid Arthritis || Volkswagen [VOW.GE] Porsche discloses 74.1% stake and planned full financial control in 2009

- Speakers: IFO's Abberger stated that German export prospects have worsened despite weaker Euro and lower oil prices . Bank lending has become tougher and that the main danger for Germany would be a credit crunch||IFO Nerb: Expectations are exaggerated; ECB should cut rates by 50bps Lower Euro currency rate would suggest better position for European exporters. He added that Germany should increase infrastructure spending and that the index is likely overshooting towards bottom in expectations index || Japan Govt Spokesperson Kawamura stated that Japan welcomed the G-7 statement regarding yen volatility. He added that Japan did not rule out a second supplementary budget || Polish Central Bank noted that it would seek CHF to lend to domestic banks. It added that the current market 'correction' would only be temporary and that bank deposit guarantees should not continue indefinitely. Lastly markets must calm before Euro entry can take place || Hungarian Central Bank Chief stated tat an interest rate hike make speculation harder on currency in a newspaper interview. He added that he saw inflation around 3% by end of 2009 or early 2010. || BoE's Dale stated that Economy is not entirely about "doom and gloom" || Japan PM Aso stated that one should not be overly concerned about recent fall in equity prices . he added that it would take a while for economic steps to have an impact on share prices || BoJ's Dep Gov Yamaguchi stated that Interest rates remained very low and that the rise in Yen could impact Japanese economy and its prices. He added that world market tension are increasing rapidly. The BOJ is planning to implement appropriate policy while following currency moves' impact on economy and would stabilize financial markets with liquidity injections. The official noted that banks' lending attitude towards small firms was tightening and expressed that BOJ policy making wa a difficult phase. || EU's Almunia does not want real interest rates to drop to negative levels

- In Currencies: G7 express deeper concern over Yen rally || Japan Fin Min Sugimoto stated that officials would continue to watch currency markets with great interest; BOK cuts by record 75bp || Indian Rupee hits fresh all-time lows versus USD near 50.18. EUR/USD tests 1.2330 in session before rebounding. Volatility remains at historically high levels, particularly in JPY and GBP related pairs. Dealers taking note of the G7 comment on the JPY price movement and ponder where and when a coordinated central bank operation could take place.

-In Fixed Income: The yield curves continue to steepen as risk aversion continued to be the norm in the markets. The iTraxx Crossover Index widens towards the 950 level for fresh all-time highs || Russia Central bank sets swap limits at RUB150B from RUB10B prior

- In Energy: Qatar PM: Current price of oil is slightly low, country seeks protection from low oil prices || Qatar Oil Min stated that for budget purposes oil needs to stay above $55/Bpd. He noted that OPEC was monitoring current economic crisis and would wait before calling another extraordinary meeting

- Financial market Crisis: Japanese regulators have banned naked short selling from Nov 4th || ECB established €12B currency swap line with Denmark and added that the line to remain in place indefinitely

*** NOTES ***

- The week begins practically where it left off. Dealers noting that Prime brokers have raised collateral calls in today's session thus prompting additional waves of liquidation. The Currency markets remain highly volatile and traders taking note of the Telegraph article that Europe was on the brink of currency crisis meltdown. G7 reaffirmed its basic stance regarding market volatility and singled out the JPY. However, dealers want more than words. G7 also reaffirmed its belief in a strong international financial market system . In an emergency meeting the Central bank of South Korea slashed their interest rates by 75 bps. The IMF noted that it continues to work on loan packages to Ukraine, Iceland and Hungary. Japan's banks are also in the game for raising new capital as Mitsubishi UJF conformed press speculation to raise roughly ¥1T. European data continues to be bad. German IFO below expectations on the key Business Climate index and its members calling for 50bps ECB rate cut. German companies continue to issue profit warnings. European time zone shift could provide an opportunity for a coordinated central bank move in either currencies or interest rates. lastly, Monday inoctober are always a concern....

Looking ahead:

- 10:00 (US) Sept New Home Sales. Consensus expectations are 450k; The prior number was 460k. M/M consensus expectations are -2.2% ; The prior number was -11.5%.

- (UK) Oct Nationwide House Prices. M/M consensus expectations are -1.5%; The prior number was -1.7% . Y/Y Consensus expectations are -14.7% ; The prior number was -12.4%.

- 9:00 (EU) ECB's Trichet to speak in Madrid



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