User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday December 15, 2008 - 11:07:37 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - European Market Update: Opec General Secy vowed 'significant cuts' at this weeks meeting

Today 05:41am

European Market Update: Opec General Secy vowed 'significant cuts' at this weeks meeting

*** ECONOMIC DATA ***

- (SZ) Swiss Producer & Import Prices M/M: -1.4% v -0.6%e; Y/Y: 1.1% v 1.9%e

- (DE) Denmark Nov Wholesale Prices M/M: -2.9% v -2.6% prior; Y/Y: -1.1% v 3.1% prior

- (IT) Italian Nov Final CPI (NIC incl Tobacco) M/M: -0.4% v -0.4%e; Y/Y: 2.7% v 2.7%e; EU Harmonized M/M: -0.5% v -0.4%e; Y/Y: 2.7% v 2.8%e

- (NO) Norway Nov Trade Balance: NOK31.4B v NOK32.2B prior

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

- In equities: Altos [ATO.FR] Denied press specuation that it Guided FY09 Op Profit €400M v €281.3Me || Total [MTP.FR}Reduced its stake in Dillinger from 62.36% to 33.4% ; separately noted that strikes at 4 French refineries have ended || Hennes & Mauritz [HMB.SW] Reported Nov SSS -4% v -2.1%e || Electrolux [ELUXB.SW] Stated that it would not meet its 2008 targets and would reduce its global workforce by 3K jobs in Q4. It saw a weakening demand for appliances in last two weeks of Nov and added that it forecasted a sharp declines in European and American demand in Dec || Ebro Puleva [EVA.SP] To be acquired by UK's AB Foods for €385M. The acquisition is expected to be earnings accretive for ABF in the 2010 financial year. Completion of the transaction is subject to regulatory approval and is likely to occur in early 2009. || Inchcape [INCH.UK] Reported YTD SSS -4.9% (in constant currency terms), Group Sales +3%. The company stated that it would not pay final dividend due to difficult trading outlook || Arkeme [AKE.FR] Lowered its guidance stating that it would not meet Q4 expectations. The company guided Q4 sales down 15% y/y and EBITDA flat y/y. It announced that it would cut costs by €50M by 2010. || Aquarius Platinum [AQP.UK] Reported business interruption at Everest Platinum Mine, operations suspended for 6 months || Premier Foods [PFD.UK] Confirmed press speculation and announced it was holding preliminary discussions to secure investment partner with a number of investors and other parties

(UK Times reported that the co. was seeking cash injection to cover nearly £1.8B in company debt) || 888 Holdings [888.UK] Expanded its bingo operations through 3 new networks. Two of these will be focused on the United Kingdom, with the third one being - for the first time - a localized Spanish offering. || Sibir [SBE.UK] In discussion with Russia's TNK-BP on possible STBP gasoline station sale || DEM Diamonds [GEMD.UK] To mothball its Cempaka Mine in Indonesia, effective Jan 1st. The company cited declining prices of gems produced || Demag Crane [D9C.GE] Reported FY08 Net €84.7M in line with estimates of €84.7M. it revenues were also inline with a reported €1.23B compared to €1.08B estimates. || Lundbeck [LUN.DC: Initiated Phase III Clinical Trials with Nalmefene as a new method of treatment of alcohol dependence || Arcandor [ARO.GE] Reported FY08 Net loss of €745.7M above the expected loss of €102.3M. Revenues were €19.8B near consensus estimates of 20B. Company reaffirmed its FY09 outlook || Acergy [ACY.NO] Awarded $250M contract for operations in Angola to develop gas pipeline transportation network



- Speakers: ECB's Ordonez noted that Spain has expressed disappointment by the role of IMF in crisis, wants more active role in resolving global financial crisis ||

- In Currencies: Dealers noting that the Russian Central Bank again is letting the Rouble move outside its stated band,thus another devaluation. || Senior British Treasury Min defended the Govt's decision to raise its borrowing and gave no indication that she was concerned by the pound's decline. The report cites Chief Secretary to the Treasury Yvette Cooper. || HKMA Injected HK$2.33B in 3rd injection as FX rate trades at the upper limit against the USD ||


-In Fixed Income: JP Morgan Analyst made some global comments on rates. It saw 10-year Note yields falling to 1.65% in 2009. It noted that the JGB-UST spread was to narrow to 10bps. Emerging market bonds to under perform in 2009. on the interest rate front, JPM saw ECB lowering rates to 1%, BoE to 0.5% SNB to 0.25%. Both the BoJ and Fed rates are seen going to zero

- In Energy: OPEC Sec Gen El-Badri stated that 'No doubt' there is oversupply in oil market; says action is required . Reiterating that OPEC/non-OPEC cut to be 'sizable'. Commented that oil market has excess inventory of 100M barrels. Hopes that Russia and other non-OPEC nations would assist in production cuts. He declined to comment how much OPEC would cut at its Dec 17th meeting || Lukoil's : CEO commented that OPEC expects Russian production to be reduced by 200-300K BPD || Statoil [STL.NO] stated that it saw OPEC cuts of 1.5-2M BBD following Algerian meeting later this week. It added it still saw prices remaining at current levels if expected production cuts are authorized. Latly the co. noted that it was unlikely that Norway to implement production cuts ||

- In commodities: China Nov Copper production Y/Y -2.3%

_ In the papers: FT reported that the US government may intensify its efforts to bring down mortgage costs and slow the decline in housing prices soon

- The government is expected to exploit its control of the GSEs in order to attempt to achieve its goals. || FT reported that Sales of European company bonds have surged in November and December, according to industry data, recovering from a disastrous autumn to surpass US end-of-year issuance for the first time, European non-financial companies have sold almost $57.5bn of bonds in the last two months of the year, according to Dealogic, outstripping most previous totals for this time of year and ahead of the $41.4bn in the US. Asian issuance has also been healthy at $23.7bn. Bond markets had suffered a dismal September and October, after the failure of the US investment bank Lehman Brothers, with Europe seeing no corporate bond sold for four weeks. Liquidity in secondary markets remains extremely limited with yields stuck at highly elevated levels.

*** NOTES ***

- With little in terms of economic data, dealers focused on the upcoming FOMC decision on Tuesday and OPEC's meeting on Wednesday. Dealers noting g that equity markets remain rather resilient for the most part in face of continued “bad” news. As like last week, suggesting that bad news finally fully-priced into the price action. With two weeks to go until the New Year dealers noting that price action more likely due to calendar purposes than underlying strength. Oil rose over $2.50 per barrel near $49.00 as OPEC vows 'significant cuts in production this week.

- Ecuador announced a default on its 2012 US dollar bond last Friday and markets bracing for any domino effects in emerging markets land. Numerous companies reported their related exposure to the potential Bernard Madoff fraud. Recessions tend to uncover what auditors miss.

- Japan's Q4 Manufacturing Tankan survey hit a seven-year low, and China's Industrial Production was the worst since the series started. Thus global recession concerns remain valid and clearly highlights the loss of growth momentum and ones' ability to export

Looking Ahead:

- 8:30 (US) Dec Empire Manufacturing: Consensus expectations are -27.5 ; The prior number was -25.4.

- 8:30 (EU) ECB's Papadermos speaks in Frankfurt

- 9:00 (GE) German Finance minister Steinbreuck speaks in Berlin


- 9:00 (US) Oct Net Long Term TIC Flows: Consensus expectations are $40.0B ; The prior number was $66.2B.

- 9:15 (US) Nov Industrial Production: Consensus expectations are -0.8%; The prior number was 1.3%.

- 9:15 (US) Nov Capacity Utilization : Consensus expectations are 75.6%; the prior number was 76.4%

- 12:30 (EU) ECB's Trichet speaks in Frankfurt

 

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