User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday February 27, 2009 - 11:18:18 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - European Market Update: World Bank leads coordinated 2 year plan to lend €25B to banks and businesses in Eastern Europe; SEK currency slumps after weaker GDP data

Today 06:04am EST/11:04am GMT

European Market Update: World Bank leads coordinated 2 year plan to lend €25B to banks and businesses in Eastern Europe; SEK currency slumps after weaker GDP data


- (IN) India Q4 GDP Y/Y: 5.3% v 6.1%e

- (TH) Thailand Jan Manufacturing Production Y/Y: -21.3% v -23.0%e; Manufacturing Index: 155.6 v 156.6 prior

- (TH) Thailand Jan Current Account Balance: $2.3B v $1.1Be; Total Trade balance $1.69B v $$496.0M prior

- (SP) Feb Prelim CPI - EU Harmonized Y/Y: 0.7% v 0.8%e

- (HU) Jan Unemployment Rate: 8.4% v 8.3%e

- (SP) Spain Dec Current Account -€6.37B v -€8.5B prior

- (DE) Denmark Q4 GDP Q/Q: -2.0% v -0.9%e; Y/Y: -3.9% v -2.0%e

- (IT) Feb Retailers Confidence General: 94.7 v 95.3 prior; Services Survey: 32 v -30 prior

- (SW) Swedish Jan PPI M/M: 0.9% v 0.4%e; Y/Y: 3.9% v 3.0%e

- (SW) Swedish Q4 GDP Q/Q: -2.4% v -1.6%e; Y/Y: -4.9% v -2.1%e

- (SW) Swedish Jan Retail Sales: 1.3% v -0.5%e; Y/Y: 2.2% v -0.4%e

- (SW) Swedish Q4 Current Account: SEK63.6 v SEK70.9B prior

- (IT) Italian Dec Large Company Employment: -0.7% v -1.0% prior

- (NO) Norwegian Q4 Manufacturing Wage Index Q/Q: 1.0% v 2.5% prior

- (CZ) Czech Money Supply Y/Y: % v 6.5% prior

- (EU) Euro-zone Jan CPI M/M: -0.8% v -0.8%e; Y/Y: 1.1% v 1.1%e; CPI Core Y/Y: 1.6% v 1.8%e

- (EU) Euro-zone Unemployment Rate: 8.2% v 8.1%e

- (GE) German Feb Prelim CPI M/M: 0.6% v 0.3%e; Y/Y: 1.0% v 0.8%e

- (GE) German Feb Preliminary EU Harmonized M/M: 0.7% v 0.3%e; Y/Y: 1.0% v 0.7%e

- (SZ) Swiss Feb KOF Leading Indicator: -1.40 v -0.93e, lowest reading on record

- (UK) Jan House Prices M/M: -0.8%; Y/Y: -15.1% - Land Registry


- Equities: Lloyds [LLOY.UK] Reported FY08 Net €819M compared to forecasts of £1.51B. Revenues were €9.8B below the €11.1B consensus. It confirmed talks with UK treasury on Asset Protection Scheme. CEO commented that downside risks are seen in the UK economy with 2009 GDP contraction of 2.5% || Deutsche Telecom [DTE.GE] Reports Q4 Net €861M above consensus of €670M on an ex-item basis. Revenues came in at €16.1B above €15.9B forecast. It maintained its dividend at €0.78/shr. It noted that its -UK mobile operation was hurt by fierce competition but - T-Mobile USA had 'double digit' growth || Roche [ROG.SZ: Firm's Mabthera drug receives EU approval to treat patients with chronic Lymphocytic Leukemia || Fuchs [FPE.GE] Reported FY08 Net €100.3M inline with consensus of €100M. revenues were €1.39B also in line. It would increase dividend on pref shares to €1.60/shr from €1.50 prior. It did note that unsatisfactory market conditions to further continue in 2009 || Nyrstar [NYR.BE] Reported H2 Net loss €614M worse than the loss €569M expected. Revenues were €1B above €899M forecasts. It would not pay dividend for FY08. It did note that the effects of the sudden and severe downturn in global economy during H2 were expected to continue throughout 2009. || Enel [ENEL.IT] Italian press reports that the company is planning to issue up to €7B in rights issue .Il Sole 24 Ore reported that the plan would be announced on Mar 12th with Mediobanca SpA possible advising on the share sale || Erste Bank [EBS.AS] Reported 2008 Net profit of €859.6M below analyst estimates of €935M. Revenues were €7.00B slightly above the forecast of €6.76. The bank announced a capital raise and would reduce its FY08 dividend to €0.65/shr v €0.75 prior> The capital raise would bring up to €2.7B participation and hybrid capital in total, both from investors and Austrian govt, which would provide €1.89B of capital increase || AstraZeneca [AZN.UK] Received FDA Complete Response Letter on Seroquel William Hill [WMH.UK] Reported FY08 Operating Profit £278.6M slightly above expectations of £269M. revenues were £964M just below the £999M estimate. It announced that it would raise £350M in new rights issue (50% of share capital) and wouldl not pay final dividend. The company also entered into new bank facilities that, under a forward-start mechanism, and together with our £250M existing bank facility and would provide aggregate funding to the Group of £838.5M || Acciona [ANA.SP] Reported FY08 Net profit €464M missing estimates of €501.1M. Revenues were €12.67B above consensus of €12.22B. its Net debt came in at €17.9B and flat. || Iberia Airlines [IBLA.SP] Reported Q4 Net loss €19M better than the loss €41.5M expected. Revenues were €1.33B roughly in line with consensus of €1.32B.e

- Speakers: ECB's Weber applauded that the central bank has achieved anchoring of inflationary expectations. He commented that the Euro-Zone has seen the emergence of spread in most market segments and noted that the occurrences in these differentials due to inappropriate national policies || ECB's Ordonez: Europe was confronting a crisis of unknown proportions and is facing the prospects of a deep recession. Structural reforms are needed to reduce impact of the economic situation. He applauded the ECB's effort in keeping inflation anchored and commented that the Euro currency helpt to protect the region from an exchange rate crisis. He noted that Euro-Zone regional divergence was quite moderate, but more must be done to reduce differences in inflation and GDP across EMU. EMU nations should continue to attempt to co-ordinate fiscal policy and that stability was best for jobs and economic growth. || ECB's Gonzales-Paramo commented that some Euro-Zone member in weak fiscal position || IMF Strauss Khan welcomed to any joint action plan to aide Eastern European countries || EU's Almunia reiterated that chances of EuroZone break-up are remote, interest in joining EMU is increasing

- In Currencies: Risk Aversion set in during the European morning. The GBP was weaker after Lloyds Banking Group Plc failed to announce an agreement on a government asset insurance program. The GBP/USD was off 100 pips at 1.4180 and EUR/GBP tested the 0.8950 area ||The Indian Q4 GDP data came in below forecasts. The scope of the global crisis highlighted by the World Bank, the European Bank for Reconstruction and Development and the European Investment Bank announcing measures to provide up to €24.5B in aid to Eastern Europe. EUR/USD below the 1.27 level. Risk aversion allowing the JPY pairs to retreat from recent moves. USD/JPY off 97.50, off 85 pips from opening levels in Asia. EUR/JPY at 123.60, lower by 150 pips from its Tokyo open.|| EUR/SEK recorded a new all time high of 11.4945 in the session following its weaker GDP data || South Korean FX authorities seen selling USD to counter recent KRW weakness as the Won tested above 1,540 level to hit its worse level since 1998|| Swiss National Bank's Roth announces that he will retire at end of the year 2009, No successor named at this point

- Fixed income: Month end funding, position squaring and weak equities has seen fixed income well bid this morning after yesterday's aggressive sell off. Gilt futures, which have rolled into June, are 72 ticks at 121.95 the time of writing, outperforming Bunds (up 40 ticks at 124.85) and T-Notes futures (6 ticks higher at 121-29). France announced plans to sell €7B in new OAT's next week. In corporate, Centrica has mandated a 2 part sterling denominated issue, with pricing indicated at 260bp over gilts for a new 5y , and 270bps in a new 13 year.

- In Energy: Nigeria stated it would privatize four state owned oil refineries; weak oil prices create need to raise funds || TNK-BP Holding [TNBP.RU] Reported FY08 reserve replacement ratio at 146% with proven reserves 10.3Boe || Nippon Oil [5001.JP] Reported March crude oil throughput down 22% y/y to 3.99M KL with the decline due to refinery maintenance. The cut in planned crude throughput comes in response to continued weak domestic oil demand || Norwegian Central Bank stated that it would not purchase FX for Oil Fund in March compared to NOK150M/day spent in February

- Credit Crisis: World Bank leads coordinated 2 year plan to lend €25B to banks and businesses in Eastern Europe. European Bank for Reconstruction and Development (EBRD) to guarantee up to €6B for Eastern European financial sector, European Investment Bank to commit €11B for businesses. World Bank to lend €7.5B for banks, trade financing and risk insurance. The lenders call for fast and coordinated action to address regions crisis.|| Swedish Riksbank entered into pre-cautionary arrangement with Estonia

- Estonian Central bank can borrow up to SEK10B

*** NOTES ***

- Dealer continue the amount of debt the US will accumulate to fight off its economic and financial crisis with the cumulative US deficit of $3.8T during 2010 to 2014 period, represents 4.7% of GDP

- Emerging market growth is moving toward the front burner of issues. India Q4 GDPO came in at 5.3% below the 6.1% forecast.. China remains confident it would achieve 8% growth.

- World Bank leads coordinated 2 year plan to lend € 25B to banks and businesses in Eastern Europe.

- S&P cuts rating of 10 life insurers on increased loss assumptions and capital adequacy

- Dealers noting that month end positioning would likely morph into rebalancing flows

- Looking Ahead:

- 7:00 (SA) South African Jan Trade Balance: ZAR5.5B expected v -ZAR1.6B prior.

- 8:30 (CA) Canadian Q4 Current Account (BOP): -$5.1B expected v $5.6B prior

- 8:30 (CA) Canadian Jan Industrial Product Price: -0.5% expected ; Raw materials Price Index M/M: -2.3% expected

- 8:30 (US) Q4 Preliminary GDP Q/Q: -5.4% expected v -3.8% prior

- 8:30 (US) GDP Price Index: -0.1% expected v -0.1% prior

- 8:30 (US) Q4 Core PCE Q/Q: 0.6% expected v 0.6% prior

- 8:30 (US) Q4 Personal Consumption: -3.7% expected v -3.5% prior

- 9:45 (US) Feb Chicago Purchasing Manager Index: 33.0 expected v 33.3 prior

- 10:00 (US) Feb Final University of Michigan Confidence Index: 56.0 expected v 56.2 prior

- 10:00 (US) Feb NAPM- Milwaukee: 35.0 expected v 33.0 prior

-(GE) German Feb Prelim CPI M/M: 0.3% expected v -0.5% prior; Y/Y: 0.8% expected v 0.9% prior, EU Harmonized M/M: 0.3% expected v-0.6% prior; Y/Y: 0.7% v 0.9% prior

- 10:15 (EU) ECB's Nowotny speaks in Vienna


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