User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday April 14, 2009 - 10:27:59 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - European market Update: Participants await for clues that worst of economic crisis has past, eyes US retail sales and Chinese GDP and Industrial Prod data

Today 05:56am EST/09:56am GMT

European market Update: Participants await for clues that worst of economic crisis has past, eyes US retail sales and Chinese GDP and Industrial Prod data

*** ECONOMIC DATA ***

- (FR) French Feb Current Account: -€2.2B v -€2.8B prior

- (CZ) Czech Feb Industrial Output Y/Y: -23.4% v -18.0%e; Construction Output Y/Y: -14.3% v -11.1% prior

- (CZ) Czech Feb Retail Sales Y/Y: -7.9% v -3.5%e

- (DE) Danish March CPI M/M: 0.3% v 0.3%e, Y/Y: 1.8% v 1.7%e;

- (DE) Danish March CPI EU Harmonized M/M: 0.4% v 0.3%e; Y/Y: 1.6% v 1.5%e

- (SW) Swedish March CPI M/M: 0.3% v 0.5%e; Y/Y: 0.2% v 0.5%e

- (SW) Swedish March CPI Underlying Inflation M/M: 0.5% v 0.6%e; Y/Y: 1.5% v 1.7%e, CPI Level: v 299.22e

- (CZ) Czech Feb Current Account: CZK17.1B v CZK1.50Be

- (UK) Feb UK Mortgage loans at 24.3K, +4% y/y



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

- Equities: European equity markets opened on a mixed note. Financials rallied on the back of news from Goldman Sachs in the New York post-market and continued strength in the sector through the Asian session. US German listed financial names (Citi and Bank of America traded up as much as 30%). A court ruling from Belgium allowing all Fortis shareholders a vote in the this month's EGM strongly supports the likelihood of a break up; shares of Fortis and BNP traded higher. Despite this sector strength, the DAX30 opened negative and negative sentiment from poorer than expected earnings out of Phillips weighed on healthcare systems manufacturers. Markets continued their pre-holiday choppy nature as 4-days of market news is being digested in Europe. By 4:30EST, markets had shaken off Chinese data concerns and negative earnings numbers making a sharp break into positive territory, reflecting gains of approx 1% across the board || Goldman Sachs [GS] Reports Q1 $3.39 v $1.64e, R $9.43B v $7.20Be, announces $5B Public Offering of Common Equity (about 7.6% of market cap), confirms to use proceeds to repay All TARP funds borrowed. || British Telecom [BT.UK] reportedly seeking to cut an additional 10K jobs (9% of workforce), reduce dividend by more than 50% -FT. Announcements to purportedly come next month along with earnings results, at that time, BT may announce £1.0B in write downs. ||Phillips [PHIA.NV] reported its second consecutive loss, Q1 Net Loss was €59M v a loss of€25M expected, EBITA was a loss of €74M v profit 35Me, and Sales were €5.08B v €5.16Be . By units: Healthcare Q1 sales -2% y/y, Consumer lifestyle Q1 sales -25% y/y, Lighting Q1 sales -19% y/y. The group expects no material change to markets in Q2. The CFO commented thatits North American markets faired better than Euro markets in Q1. The company would accelerate restructuring measures in the Q2 after its Q1 results missed analyst expectations.


- Speakers: Fed's Fisher reiterated the view that the US economic data looked 'quite grim as Q1 GDP likely to contract at a 'very dismal' rate'. He reiterated that the US jobless rate could exceed 10% by end of the year. China is not decoupling from US economy, does not expect sharp declines in USD currency rates and saw a strong case favoring the dollar based on capital returns. He believed that China would do nothing to harm US interests and that both countries have a symbiotic relationship. || ECB's Orphanides commented that the risk of deflation had 'increased somewhat' recently and could spur ECB moves after May policy meeting. He reiterated the view that downward pressure on inflation into 2010. ECB must stay 'open and flexible' over measures which could include asset purchases and longer liquidity operations. Such moves could lower money market rates further. || Polish Central Banker Filar commented that perhaps the interest rate easing cycle by MPC could be over. However, he saw no scope for higher interest rates. || Polish Central Banker Noga also stated that he saw steady interest rate policy at next two MPC meetings || Spain's PM Zapatero commented that its Gov't was ready to take additional stimulus measures if needed


- In Currencies: All eyes glued on upcoming Chinese data and the differing opinions have been emerging from both the “official' and analyst fronts. The pre-European session encountered some 'risk aversion', which aided both USD and JPY positions. Dealers returned from a long weekend and grew 'edgy' over the pending Chinese GDP data set for release on Thursday as catalyst. European dealers were 'reacting' to earlier comments from Chinese PBoC advisor Fan that it might take need additional 2-3 years to complete China's economic adjustment. One investment house put out a research note that Premier Wen seemed to indicate that China Industrial Production jumped 8.3% in March, which would be above current consensus of 6.3%

- The EUR/USD tested below the 1.33 level to move back within its one-week consolidation range of 1.31 to 1.3330 range. USD/JPY moving back below parity to test 99.50 level.


- Fixed income: A relatively quiet start to the week in European fixed income this morning , with no major economic data or supply Government bond markets are range bound in thin volumes. Gilts have outperformed with the Bank of England set to purchase £3B in 2020 - 2032 Gilts later in the session, with the long end in particular benefiting, leading to a flatter UK yield curve. Bunds have almost closed the gap on Treasuries after yesterday's rally with the cash Bund yield at 3.19%, about 2pbs cheaper relative to Treasuries on last weeks close at 33pbs. € swap spreads are wider across the curve with 2y swap spreads +2bps at 57bps and 10y swap spreads 2.4bps wider at 36bps. 3M Euribor fell another basis point to reach 1.00%


- In Energy: Dealers chatter focused on the topic that OPEC production cuts have been hampered by Brazil and Russia efforts. Dealers took notice of recent US Energy Dept stats which noted that U.S. imports from the Organization of Petroleum Exporting Countries fell 818K/day, or 14% to 5.02M in January from a year earlier while imports from Brazil more than doubled to 397K and Russia's increased to 157K, a trend that continued in

February and March, according to data from each country. || Transneft [RNFP.RU] Submitted request to raise oil transit tariffs by 4% || PetroChina [PTR] According to CNPC, China is targeting oil reserves to meet 90-100 days of demand. The report added that China has started research regarding storing oil underground. Currently China's 3 oil majors have around 21 days worth of reserves. || Nippon Steel [5401.JP] Reportedly settled a semi-soft coal price in which it would pay $80-85/ton in 2009 versus $240/ton last year


- Credit Crisis: S&P cuts Kingdom of Thailand sovereign rating by one-notch to 'A-' from 'A'. it maintained a negative outlook ||S&P cuts its outlook Taiwan's sovereign credit rating to Negative from Stable. S&P cited the weaker fiscal position as a key factor in its decision. || German Spiegel magazine looks at the concerns facing Russian banks. Article noted that in recent weeks, senior Russian government ministers and officials have been striking an increasingly optimistic note amid signs the economic situation in Russia has stabilized. However despite the financial turmoil of recent months, no major Russian bank has gone bust, and there have been minimal signs of depositor panic. But in recent weeks, a chorus of doomsayers has been warning the stability won't last. A "second wave" of the crisis is about to hit Russia, they argue. The Russian government now appears to be taking the threat seriously.


*** NOTES and THEMES ***

- The current phase of improving risk appetite appeared to be hitting some speed bumps despite guidance from Wells Fargo last week and Goldman Sachs yesterday after the close. However, chatter circulating that that one bank has failed the "stress tests" and could result in another potential bailout package being put together to head off a crisis

- North Korea continued it bipolar ways as it again noted that current round of discussions are useless and planned to resume nuclear development.

- The reserve currency discussion continues. Japan's Yosano noted that unlikely any other currency other than USD key global currency…but PBoC advisor Fan commented that China, Japan and South Korea should establish a routine mechanism to diversify the region's reserve currencies away from the dollar

- China March foreign direct investment (FDI) -9.5% y/y. All eyes glued on upcoming Chinese data and the differing opinions have been emerging from both the “official' and analyst fronts (see currency section)

- Reality check: Singapore Q1 GDP Y/Y -11.5% v -9.1% forecast. Lowers 09 forecasts. The Central Bank re-centered its currency policy band for a weak SGD…but currency strengthens in session

- Dealers chatter focused on the topic that OPEC production cuts have been hampered by Brazil and Russia efforts.

- Looking Ahead:

- 8:00 (PD) Polish March Money Supply M3 M/M: 0.3% expected v 1.4% prior

- 8:00 (PD) Polish Feb Current Account: -500 expected v -441 prior

8:30 (US) March PPI (last m/m 0.1%, y/y -1.3%, ex food & energy last m/m 0.2%, y/y 4.0%), - - 8:30 (US) March Advanced Retail Sales (last 0.1%, ex autos last 0.7%)

- 10:00 (US) Feb Business Inventories (last -1.1%)

- 10:00 (UK) BoE to buy £3B 202 - 2032 Gilts

- 10: 30 (US) Fed's Evans speaks in Chicago

- 10:30 (US) Fed's 2013 to 2016 Coupon Purchase

 

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 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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