User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday December 16, 2008 - 11:18:39 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - European Market Update: Divergence emerges inside ECB on policy; BOE sees sharp drop in coming inflation; FOMC awaited; OPEC members seeks up to 2M barrels in production cuts

Today 06:09am

European Market Update: Divergence emerges inside ECB on policy; BOE sees sharp drop in coming inflation; FOMC awaited; OPEC members seeks up to 2M barrels in production cuts


- (UK) BOE Letter on Inflation: “Quite Possible” inflation could fall below 1% level in 2009

- (RU) Russia Nov Industrial Production Real M/M: -10.8% v -2.8% prior; Y/Y: -8.7% v -1.8%e

- (EU) EU Nov New 25 Car Registrations: -25.8% v -14.5% prior

- (FR) French Nov CPI M/M: -0.5% v -0.4%e; Y/Y: 1.6% v 1.7%e

- (FR) CPI - EU Harmonized M/M: -0.5% v -0.4%e; Y/Y: 1.9% v 2.0%e; CPI Ex Tobacco Index: 117.92 v 118.04e

- (FR) French Q3 Final non - Farm Payrolls Q/Q: -0.3% v -0.1%e

- (FR) French Dec Prelim PMI Manufacturing: 35.9 v 35.4e; PMI Services: 41.6 v 45.0e

- (SZ) Swiss Q3 Industrial Production Q/Q: -5.2% v -2.3%e; Y/Y: 0.7% v 3.4%e

- (GE) German Dec Adv PMI Manufacturing: 33.5 v 34.6; PMI Services: 46.4 v 44.0e

-3:30 (SW) Swedish Nov Average House Prices: SEK1.79M v SEK1.75M prior.

- (EU) Dec Adv PMI Manufacturing: 34.5 v 34.2e; PMI Services: 42.0 v 41.4e; PMI Composite: 38.3 v 37.8e

- (UK) Nov CPI M/M: -0.1% v -0.3%e; Y/Y: 4.1% v 3.9%e

- (UK) Nov Core CPI Y/Y: 2.0% v 1.8%e;

- (UK) Nov Retail Price Index: 216.0 v 216.6e

- (UK) Nov RPI M/M: -0.8% v -0.6%e; Y/Y: 3.0% v 3.2%e; RPI - Ex mortgage Payments: 3.9% v 4.0%e

- (EU) Eurozone Q3 Employment Q/Q: -0.1% v 0.2% prior; Y/Y: 0.8% v 1.2% prior

- (BR) Brazil Oct retail Sales M/M: -0.3% v -0.6%e; Y/Y: 10.1% v 9.0%e


- In equities: Cadbury [CBRY.UK: Reaffirmed revenue and margin outlook. The company named Andrew Bonfield as new CFO, effective Feb 2009. It expected its FY08 Rev growth to be at 'top end of 4-6% target range' and sees modest FY margin improvement. Committed to delivering mid-teen margins by 2011 || Volkswagen [VOW.GE] CEO of Financial Services Unit stated that the application for German state loans was a precautionary measure. Waned to be sure the firm can maintain enough liquidity throughout the crisis. He added that operations in 2008 would be similar to those in 2007, see lower operating profit in 2009

|| Kesa [Reported H1 Retail Profit £13.0M below the £15.4M estimates (ex-items). Revenues were £2.18B rougly in-line with the £.219B consensus while SSS were down 5.5% y/y. It cut its dividend by 50%. || Zodiac [ZC.FR] Reported Q1 Rev €553.9M +13.4% y/y, confirms FY08-09 guidance || Frontline [FRO.NO] Reported that its had 25 supertankers booked to store oil and added that such supertankers may not be fully loaded || Victrex [VCT.UK] Reported FY08 Net £39M in line with £39.18M estimates, Pre tax £55M versus £54.79M estimates. Revenues were £141.1M just above the £139.13M estimates. It saw current customers reducing their inventory positions. It would guide 2009 outlook following Jan-Feb sales and was reviewing cost base in regards to current trading levels || Carpetright [CPR.UK] Reports H1 Pretax £9.5M versus 9.5Me. Revenues were Rev £236.8M compared to year-ago levels of £251.0M. Its CEO stated that market conditions and consumer confidence have declined through the first half. || Drax [DRX.UK] Trading remained in line with expectations, Guides FY08 cash balance £125-130M || Partygaming [PRTY.UK] Stated that talks with DOJ are in advanced stages with good progress and added that the payment would likely be significantly lowers than press reports. The company noted that any settlement unlikely with criminal plea. ( FT reported back on Dec 15th that the company's largest shareholder and co-founder, Anurag Dikshit,, had agreed to pay US authorities $300M and plead guilty to a charge relating to illegal web betting). || Unite Group [UTG.UK] sold assets to UNITE UK Student Accommodation Fund for £171.3M | Volvo [VOLVB.SW] Reported Nov truck deliveries of 19.3K, down 21% y/y. It noted that markets outside of Europe and North America continue to weaken. Its European truck deliveries fell 42% y/y to 9.8K and added that in October and November, order cancellations were larger than new orders in European markets. Overall it commented that customers remain cautious || Aer Lingus [AERL.UK] Stated that it would continue to maintain independence. It added that the Ryanair offer had already been unconditionally rejected || AB Inbev [ABI.BE] EU court found that the Bud trademark was invalid (Note Busch's use of name 'Budweiser' has been a point of legal contention with Budweiser Bier Burgerbrau which had founded its label in 1795, roughly 80 years before the Anheuser-Busch founding)|| Roche [ROG.SZ] Avastin filed in Europe for treatment of patients with agressive type of brain cancer || Danisco [DCO.DC] Reported Q2 Revenue of DKK3.3B compared to estimates of 3.15B. Net came in at DKK 339M above consensus of 311M. The company announced the suspension of its share buyback program ||

- Speakers: ECB Trichet stated that there was a limit to interest rate cuts and should avoid rates that are to low. Must make sure prior rate cuts are flowed through. He did note that the ECB was considering cutting deposit rates || ECB's Bonello economic activity had weakened since Dec 4th. Technically more room to cut interest rates if data warrants. - ECB is reviewing other options to ease market tension and added that quantitative easing within the ECB could be considered. Euro zone needs implementation of fiscal stimulus, not debate on the topic. He commented that have seen some signs of easing in money markets and that deflation was not a distinct danger for Euro zone|| BOE's King letter to Darling noted that inflation could drop below 1% in 2009 and return to target in H1 of next year. The weaker GBP should moderate the CPI drop to some degree. Weak UK output will cause significant slack. || Spain Econ Min Solbes bluntly stated that the ECB would not cut rates further if banks do not lend ||ECB's Draghi stated that the global financial crisis currently in 'critical stage' and sees additional impact on banks, need for stimulus || BoJ's Gov Shirakawa: Reiterated that currency moves have a great impact on the economy. The stronger JPY and weaker demand suggests that BoJ needs to downgrade outlook on Japan's economy || India Minister: Central Bank would intervene when appropriate to stem the volatility in the FX || Indian Trade Min: Exporters have cut 65.5K positions due to global recession as bith exports and production have declined. || Italian Think Tank: Sees Italian deficit to GDP ratio at 3.3% in 2009 and at 3.1% in 2010 |||| Swiss Govt cuts its 2009 GDP growth forecast to -0.8% versus a 1.3% prior view. It did see GDP returning to positive growth in 2010 with a 1.0% reading. Inflation to average 0.7% in 2009 compared to a 1.3% prior view|| || Swiss Econ Min Leuthard noted that the Gov was watching CHF FX rate closely and planned for a second economic stimulus package of up to CHF 650M || EU's Barroso stated that 'A lot' needed to be done in regards to the Eurozone economy || Germany Chancellor Merkel stated that the German Government would act on new stimulus measures in January

- In Currencies: USD rebounded from its two month lows against Europe pairs during the session. Dealers were attributing various technical factors for the price action today. The 1.3760 level represented a 38.2% retracement of the 1.6030 July highs and the 1.2330 Oct lows. Dovish comments from ECB member Bonello stated that Economic activity had weakened since Dec 4th and 'technically' more room to cut interest rates and that quantitative easing within the ECB could be considered. || The CHF was softer in the session following the Swiss Govt lowering of its 2009 GDP growth forecast to -0.8% v +1.3% prior view|| The GBP was off session lows after U.K. November inflation fell less than expected but remained vulnerable after the mandatory BOE letter to Exchequer Darling noted that UK inflation could fall below 1% in 2009. GBP/USD at 1.5220. off 70 pips from its opening level in Asia. GBP/JPY trading at 137.20, off 120+ pips || Soc Gen analyst stated that the EUR/GBP cross hitting parity was a possibility. The analyst also noted they the could see continued JPY strength against various pairs (USD. GBP and EUR). Lastly the analyst noted that their view was reducing their bet for the USD advance ||

-In Fixed Income: European yield steepened as the morning wore on. Speculation the Federal Reserve will cut interest rates and announce plans to buy U.S. government debt. The 30-year yield fell to 2.9%, close to the lowest since regular sales began in 1977 while the 10-year notes dropped to 2.47%

- In Energy: Iranian Oil Min reiterated their position that a 1.5M to 2M cut in oil output could restore stability in oil market || Venezuelan Oil Min Ramirez also sought an OPEC production cut output between 1-2M bpd. He added that OPEC was ready to make a 'big cut' and saw a minimum production cut of at least 1M bpd at the Algeria meeting || China seeks to increase reserves of strategic materials according to a comment from the Ministry of Industry & Information || Tullow Oil [TLW.UK] Announced 'significant' find in Uganda at Buffalo-1 Exploration Well || Tecnip [TEC.FR] To Expand Its Subsea Umbilicals Facility in Angola

*** NOTES ***

- The focus will be on the pending FOMC rate decision today with a 50 bps cut to 0.50% the consensus view.

- Goldman reports and some analyst expect the firm to report a quarterly loss of as much as $2.5B.

- 30 yrs below 3% on speculation the Federal Reserve will cut interest rates and announce plans to buy U.S. government debt.

- ECB offering some mixed views on interest rates. ECB Trichet stated that there was a limit to interest rate cuts and should avoid rates that are to low. Must make sure prior rate cuts are flowed through. He did note that the ECB was considering cutting deposit rates. However ECB's Draghi: Global financial crisis currently in 'critical stage' Rapidly falling inflation expectations coupled with some risks of deflation in some areas combined with the possibility of lowering interest rates to ZERO poses a test for monetary policy. ECB's Bonello comments were also seen as 'dovish'.

Looking ahead

- 8:30 (US) Nov CPI : M/M consensus expectations are -1.3%; The prior number was -1.0%. Y/Y Consensus expectations are 1.5% The prior number was 3.7%.

- 8:30 (US) Nov CPI- Ex Food & Energy: M/M consensus expectations are 0.1%; The prior number was -0.1%. Y/Y Consensus expectations are 1.5%; The prior number was 3.7%

- 8:30 (US) Nov CPI Core Index: There are no consensus expectations; The prior number was 216.801.

- 8:30 (US) Nov Consumer Price Index NSA: Consensus expectations are 212.699; The prior number was 216.573.

- 8:30 (US) Nov Housing Starts: Consensus expectations are 736k; The prior number was 791k.

- 8:30 (US) Nov Building Permits: Consensus expectations are 700k; The prior number was 730k.

- 8:30 (CA) Canadian Oct Manufacturing Shipments: M/M consensus expectations are -0.4% ; The prior number was 0.1%. Y/Y Consensus expectations are 1.5%; The prior number was 3.7%.

-14:15 (US) FOMC Rate Decision: Consensus expectations are for a 50bps cut; The current Fed Funds target Rate is 1.00%


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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

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