User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday April 1, 2009 - 10:20:20 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - European Market Update: Euro-Zone unemployment level climbed to its highest level since May 2006

Today 05:59am EST/09:59am GMT

European Market Update: Euro-Zone unemployment level climbed to its highest level since May 2006


- (IN) India Feb Trade balance: -$4.7B v -$6.7B y/y; Exports Y/Y: -21.7% v -16.0% prior; Imports Y/Y: -23.3% v -18.2% prior

- (GE) German Feb Retail Sales M/M: -0.2% v 0.3%e; Y/Y: -5.3% v -1.2%e

- (SW) Swedbank Mar PMI Survey: 36.7 v 34.4e

- (SP) Spain Feb Manufacturing PMI: 32.9 v 31.8 prior

- (DE) Denmark Feb Retail Sales M/M: 0.9% v 1.3% prior; Y/Y; -8.9% v -6.1% prior

- (SZ) March SVME-Purchasing Managers Index: 32.6 v 33.0e

- (IT) Italian March PMI Manufacturing: 34.6 v 35.0e

- (FR) French March Final PMI Manufacturing: 36.5 v 36.3e

- (GE) German March Final PMI Manufacturing: 32.4 v 32.4e

- (EU) Euro-Zone March Final PMI Manufacturing: 33.9 v 34.0e

- (UK) March PMI Manufacturing: 39.1 v 35.0e

- (UK) BoE Housing Equity Withdrawal: -£8.0 v -£6.8Be

- (SA) South Africa March Investec PMI: 36.0 v 38.9e

- (EU) Euro-Zone Feb Unemployment Rate: 8.5% v 8.3%e; highest since May 2006


- Equities: GEM Diamonds [GEMD.UK] reported its FY08 EBITDA inc items at $83M v $45.7Me and Rev at $296.9M v $308.5Me. The miner announced details of a £75M share placing. GEM stated trading conditions weakened further during January 2009, though the average Let*eng February 2009 tender achieved price was up 9.7% on January and that it will continue to Seek out new routes to optimize diamond sales. GEM stated that it would be up to 75M New Shares at the Issue Price of 100 pence per New Share to raise gross proceeds of £75M. Note: 68M New Shares have already been firmly placed with existing Shareholders and new investors. || Johnson Matthey [JMAT.UK] provided an interim statement: Q4 Trading has been in line with prior expectations and reaffirmed its FY guidance. The firm noted that its Environmental Technologies Division experienced mixed trading conditions in the quarter, with sales of autocatalysts substantially down on last year as car companies continued to reduce production in response to falling car sales. || For Deutsche Boerse [DB1.GE], Atticus Capital has cut stake from 9% to below 3%. Note that the US based hedge fund and German listed exchange had been in a dispute over future strategy since as early at 2005 (major tensions regarding bid for LSE in 2005/2006) || Lafarge [LG.FR] is reportedly to begin its €1.5B capital increase at €16.65/shr. Existing shareholders have the right to purchase 6 new shares for every 13 existing and the subscription period is to run from April 2-15. Lafarge stated that new shares will trade on Euronext. Note: Price represents a discount of 51% from Tuesdays closing price (€33.89). ||

Vivendi [VIV.FR], reportedly company's favorable tax treatment has been extended to year end 2011 - La Tribune. || Uralkali [URKA.RU] reported its FY08 Net RUB29.5B v RUB33.1Be. The industrial put its Q1 production at 459K tons v 1.25M ton y/y and stated that the outlook on Potash market remains unclear. ||Statoil ASA [STL.NO] is to develop UK offshore wind project with Statkraft. The project is to consists of 88 turbines and the group see the farm beginning operations in 2011. Statoil guides annual production from facility at 1.1TWh with an investment expected to be NOK10B. || UBS [UBSN.SZ] Names Ulrich Koerner new COO, effective immediately. He will lead the Corporate Center in this function and serve on the Group Executive Committee of the bank. || For Fortis [FORB.BE], Belgian courts blocks share holders (those who bought stakes post October, 2008) from voting in April's EGM -WSJ. This decision blocks efforts by Fortis that had sought to include recent stake holders who had bought cheap share post the September/October price collapse. The bank had seen these shareholders as members of group that strongly supported BNP/Belgian buyout offer that valued their shares at slightly over €3//share. Fortis noted that these recent stake holders represent approx 5% of outstanding shares. Article states that Fortis still expects to be able to achieve a Yes vote in Aprils meeting on the back of institutional support. It is expected that Ping An Insurance (5% stake holder) will issue a statement in this trading week. Spokesperson: Confirms speculation that bank may postpone April EGM, will decide later in the day

- Speakers: PM Brown stated that both the US and UK agree on importance of this week's G20 summit. He noted that the current economic environment requires a global solution || ECB's Trichet: Restoring confidence is G20 summit's main priority || President Obama: G20 leaders must act with a sense of urgency as economic crisis is the worst since 1945

|| German Fin Min Steinbrueck commented following the poor German retail sales data that any recovery in Germany would be 'very slow'. Additionally he expected a sharp slump in May tax revenues. However, he reiterated his position against further stimulus programs || BOE's Blanchflower stated that he agreed with those world leaders who are calling for more fiscal stimulus. He noted that unemployment could breech 3M mark by year-end and have yet to feel the pain on unemployment front. He reiterated that contraction of employment among younger workers were a major social issue. The stimulus focus should be on infrastructure amid job creation. Lower inflation was not a big concern at this time and that the contraction of global trade was larger worry than inflation at the current time || Polish Dep Fin Min Kotecki commented that volatility in Zloty currency remained too high to enable acceptance to ERM at current time and reiterated the view that the currency remained undervalued. The official maintained that Poland could meet the projected target entry date of Jan 2012 || Swedish Fin Min Borg stated that he expected Sweden's economy to contract by 4.2% this year with unemployment rising to 8.9%. Additionally, he forecasted that the Swedish budget deficit would rise above 3% for both 2010, 2011 periods. He commented that Sweden would likely have to lower economic forecasts again and cited the 'vast' imbalances towards Baltic States || ECB completed Gold sales of 35.5 tons on March 31st || ECB's Kranjec commented that the Slovenian economy would contract by 2% in 2009, and grow by 1.9% in 2010. Slovenia was likely to breach EU's budget limit. || Irish PM Cowen stated that the March unemployment rate was seen at 10.9% versus 10.4% in the prior month. He did not see jobless claims declining in coming months

- In Currencies: - Dealers were eyeing key hourly support at the 1.3130 level in the EUR/USD. The level was where the pair was trading prior to the Fed's Quantitative Easing announcement on Mar 18th. It also corresponds to the the 100-day moving avg. The pair seen consolidating in a 1.3130 top 1.3330 ahead of the ECB rate decision and g20 summit on Thursday. The EUR/USD was holding above the 1.32 handle despite the higher Euro-Zone unemployment data.

- the GBP was firmer against its major pairs during the European morning. A better-than-expected UK PMI reading helped push cable above 1.44 against the USD and at 0.9150 versus the Euro. It noted that the move was in full compliance with the Central Banks' Gold Agreement of September 2004.

- In Energy: Iraq Government has selected 9 companies in second round of bidding for oil rights ||Russian gas transit to Balkans halted due to pipeline explosion in Moldova ||

- Credit Crisis: G20 Summit taking place in London on Thursday || Fitch: Emerging Europe Economic Outlook "Dire" with 2009 GDP seen -3.1%; will suffer its steepest fall in real GDP since the collapse of the Communist planned economic system in the early 1990s

- In fixed income, trade has been relatively muted amidst the commencement of G-20 proceedings in London, with Goverment bonds in modestly positive territory. In a strong auction, the UK sold £3.5B in 2015 Gilts, with a bid-to-cover of 2.23 higher than the previous 1.5. In corporate issuance news, Germany's BASF announced plans to issue €500M in 2012 Bonds, with pricing indicated at between 160 and 170bps over swaps

*** NOTES ***

- April Fools Day and the global economic recovery seem to be the main target. - China Manufacturing PMI declines again bringing into question whether China can be the engine of economic growth. In Japan the quarterly Tankan was simply dismal as its economic conditions remain severe. German retail sales were worse than expected. European PMI remained at or near all-time levels. Feb Euro-Zone unemployment level climbed to its highest level since may 2006 with its 8.55 reading.

- However, Asian equities began the month on a positive note with dealers attributing the gains to new quarterly money allocations. European bourses softer but off their worst levels. .

- G20 summit focus. Overall markets expect a lot of photo ops, lots of rhetoric and little decisive action to address the global economic

- Looking Ahead:

- 7:00 (US) MBA Mortgage Applications w/e March 27th: No expectations v 32.3% prior

- 7:30 (US) March Challenger Job Cuts Y/Y: No expectations v 158.4% prior

- 8:15 (US) March ADP Employment Change: -663k expected v -697k prior

- 10:00 (US) March ISM Manufacturing (last 35.8), March ISM Prices Paid (last 29), Feb Pending Home Sales m/m (last -7.7%), March Construction Spending m/m (last -3.3%)

- 10:30 (US) DoE Crude Oil/Gasoline/Distillate Inventories

- 1:00 (US) Fed's Pianalto speaks at banking event in Columbus


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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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