User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday January 26, 2009 - 11:05:44 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - European Market Update: Barclays helps sooth some risk aversion concerns for the time being; Gold holds above $900/oz

Today 05:59am

European Market Update: Barclays helps sooth some risk aversion concerns for the time being; Gold holds above $900/oz



- (SP) Spanish Dec Producer Prices M/M: -2.2% v -1.3%e; Y/Y: =0.2% v 0.8%e 

- (CZ) Czech Jan Business confidence: -9.2 v -6.4 prior; Consumer Confidence: -25.8 v -21.0 prior

- (SW) Swedish Dec Trade Balance: SEK11.0B v SEK6.1B prior

- (
PD) Polish Dec Retail sales M/M: 20.2% v 20.0%e; Y/Y: 6.6% v 5.0%e

- (
PD) Polish Dec Unemployment Rate: 9.5% v 9.5%e 

- (UK) Dec BBA Loans for Purchases: 22,051 v 17773 prior


- Equities: Barclays [BARC.UK] BARC.UK: Stated that it would not need further capital subscriptions and the firm would report pretax ahead of £5.3B consensus when its it announces results on Feb 9th. It noted that its Group Tier 1 capital excess of £17B. It noted that its income would absorb £8B of gross credit market write downs taken during 2008. Its capital resources were well in excess of regulatory requirements and create a large performance cushion. It noted that it had £36B of committed equity capital and reserves and remained well funded and profitable. It clarified that the profit included the gains arising from the acquisition of the Lehman Brothers North American business and the gain on the sale of its closed life business. BNP Paribas [BNP.FR] Guided Q4 Net Loss -€1.4B compared to estimate €464Me. The bank Proposed issuing €5.1B in preference shares to French Government and sought to raise tier 1 capital ratio by €2.55B from its current level of 7.5%. Lstly the bank stated it sought to repay €2.55B debt issued in Dec 2008 || Koninklijke Philips Electronica [PHIA.NV] Reportd Q4 Net loss of€1.5B worse than the consensus estimates of a loss of €1.2Be. That was the first quarterly loss for the company since 2003. The company did beat on revenues with €7.6B versus €7.2B estimates. It suspended its buyback program until further notice. It saw restructuring delivering savings of €400M annually starting in H2 2009. It commented that its healthcare market likely to weakening in Q1 and noted further declines in lighting sales. Lastly the company stated that it could not look 'too far into the future.' In a CNBC interview, the CEO noted that consumer confidence in emerging markets left little room for optimism and that the company will focus on cash flows and costs || Oerlikon [OERL.SZ] Sold 2 semiconductor units. It signed an agreement to sell the ESEC business unit to the Dutch BE Semiconductor Industries. It expected to agree a management buyout of the Etch business. The company commented that both units provided no synergies with the core business, and only limited economies of scale. || Credit Agricole [ACA.FR and Soc Gen [GLE.FR] Are reportedly to enter into an asset management partnership according the press . The banks are seeking to create a jv with about €700B in assets under management. || ING [INGA.NV] Appointed Jan Hommen as new CEO. The firm guided FY08 Net loss of €900M compared to consensus estimates of €3.23Be (unclear if comp). ING would cut 7K jobs (5% of workforce) || 

|| WH Smith [SMWH.UK] Reported 20 week like-for-like Sales -5% y/y. CEO noted that trading conditions remained challenging over the Christmas period; Increasing gross margins and accelerating our cost reduction plans. Looking ahead, expect consumer spending to remain subdued and have planned accordingly. || Wosley [WOS.UK] Provides interim management statement and saw trading below expectations and that its trading profit fell by 45% y/y. Its Net debt increased by 22% since
31 July 2008 to £3B. the company cited that recent adverse movement in foreign exchange rates had negatively affected its overall net debt position. It expected macro economic conditions to deteriorate in the short term|| Hiscox [HSX.UK] HSX.UK: Provided interim trading statement in which it experienced good rate increases in key areas. It also noted that it saw currency-related gains of £150M. || European Aeronautic Defence & Space [EAD.FR] Reportedly Airbus's CEO stated that demand for new aircraft was expected to fall by 50% to 60% y/y in 2009 versus prior expectation of a 40% decline. Separately, French press noted that French government planned to inject €5B into banks in order to help finance airplane purchases || Sibir [SBE.UK] divested its 50% stake in Korimos for $68M cash || Roth & Rau [R8R.GE] Awarded €26M turnkey orders from Millinet Solar || Santander [SAN.SP] CEO commented that it sought to divest $10B in Sovereign Bancorp unit assets. He expected sovereign unit to be profitable by 2011 || Land of leather [LAN.UK] Stated that interested parties would not purchase all stores and noted that discussion were on-going woth perspective buyers. It was also preparing the closure of 33 store, impacting some 95 positions || Henkel [HEN3.GE] CFOcommented that the company would make profit in 2009, but decline to elaborate on any details. He did note that demand for consumer profit was 'reasonable unaffected'

- Speakers: Japan Vice Fin Min Sugimoto commented that the Japanese economy continued to worsens 'rapidly'. He also reiterated that both the central bank (BoJ) and gov't shared similar views on economy. || ECB Noyer noted that Latin American countries were affected by external shocks, but seem less vulnerable at this time. || Norway Government stated that it saw 2009 GDP contracting by 0.5% compared to prior forecastof +2.3%made back in oct. Norway confirmed plans for NOK20B stimulus || UK PM Brown noted that the Current economic crisis was characterized by its "unparalleled proportions". He noted that a coordinated global action was required to ensure growth returns. || 

- In Currencies: GBP recovered after report a 2008 profit well ahead of the consensus estimate of £ 5.3B. Barclays helped to underpinned
U.K. banking stocks sentiment in the session. GBP/USD recovered from 1.3550 area to test above 1.3740 during the European morning. The Euro also benefited on the improvement in equity markets. EUR/USD at 1.2945 as the European morning drew to a close. Dealers attributed to weekend comments from ECB's Mersch, which downplayed quantitative measures in the Eurozone due to the recent widening in interest rate spreads. The USD momentum was also a bit stymied by the rise in Gold, which is probing towards some key technical resistance at the $920/oz area. Oil also retraced earlier losses to move towards the unchanged level at 46.50. 

- In Energy: Petrofac [PFC.UK] Awarded $2.3B Abu Dhabi contract for the development of the onshore Asab oil field || Dec Iraqi crude oil exports rose to 56.2M barrels (+3.4M barrels m/m) || Repsol [REP.SP] Announced gas discovery in 3 Algerian fields. Preliminary production estimated at 1M cubic meters per day || 

- Credit Crisis: UK Chancellor Darling is mulling a new rescue package for key industries || WSJ discusses the impact of rising unemployment on the US banking sector, the "Heard on the Street" column noted that if the US unemployment rate rose toward 10%, credit losses could balloon unpredictably because of high defaults among people with previously strong credit histories. The column noted that at this time bank balance sheets do not appear in a position to deal with unemployment moving sharply higher from its current 7.2% rate. ||
Norway confirmed a new NOK 20B stimulus package. Fiscal stimulus package will comprise SEK16.7B in spending and SEK3.3 B in tax cuts for businesses 

*** NOTES ***

- The Chinese year of the Ox is upon the market and the current economic landscape making one feel like such an work animal. 

- Some relief on the financial sector front help equity markets move higher after Barclays noted that it did not need further capital subscriptions and would report pretax ahead of the £5.3B consensus estimates when it reports on Feb 9th. 

- The weekend press had the European central bankers make contrasting opinions on the interest rate front. BOE's Blanchflower (ultra-dove) noted that interest rates must head down to zero and noted that the
UK economy would continue to shrink until at least Q3. ECB's Mersch commented in the FT that he would be unwilling to see the ECB's main interest rate fall much lower than the current 2% level. However ECB Gonzales-Paramo noted that price stability could require interest rate. 

- The market gearing up for US earning season that now moves into full gear this week. 

- Friday's US GDP number expected to be the lowest reading since the 6.4% contraction seen back in March of 1982. 

- Looking Ahead: 

- 6:45 (FR) French Finance Minister Lagarde speaks in 

- 10:00 (US) Leading Indicators: -0.2% expected v -0.4% prior

- 10 :00 (US) Existing Home Sales: 4.40M expected v 4.49M prior

- 10 :00 (US) Existing Home Sales M/M : -2.0% expected v -8.6% prior

- 10:30 (US) Jan Dallas Fed Manufacturing Activity: No expectations v -60.6 prior

- 10:30 (IS) Israeli Base Rate Announcement: 50bps cut to 1.25% expected; Current base rate is 1.75% 

- 1:00pm (US) Treasury Dept to sell $8B 2029 TIPS


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