User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 5, 2009 - 11:11:25 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog -European market Update: Euro-Zone PPI has largest annual drop in over two decades; UK PMI Construction data helps GBP retest the 1.51 handle

Today 05:52am EST/09:52am GMT

European market Update: Euro-Zone PPI has largest annual drop in over two decades; UK PMI Construction data helps GBP retest the 1.51 handle


- (ID) Indonesian Central Bank cuts Reference Rate by 25 bps to 7.25%; As Expected

- (SZ) Swiss Apr SECO Consumer Climate: -38 v -25e

- (NO) Norway Apr PMI SA: 39.8 v 39.5e

- (SP) Spain Apr Net Unemployment M/M: 39.5K v 155Ke

- (SP) Spain Apr Consumer Confidence: 61.9 v 53.7 prior

- (UK) Apr PMI Construction: 38.1 v 31.9e; Largest rise since Jun 2008

- (EU) Euro-Zone PPI M/M: -0.7% v -0.6%e, Y/Y: -3.1% v -2.9%e; Largest annual decline in 22 years

- (SA) South African Q1 Unemployment Rate: 23.5% v 21.9% prior

- (SA) South Africa Apr SACOB Business Confidence: 81.9 v 78.9 prior

- Russia Apr Consumer Prices M/M: 0.7% v 1.0%e; Y/Y: 13.2% v 13.6%e; CPI YTD: 6.2% v 6.5%E


- In equities: Today's session marked the first time since last Thursday that all European equity markets opened in coordination following a staggered May Day holiday. Despite this coordination in operations, initial results were very different. Gains in futures trading were erased just prior to the cash open with the CAC and DAX falling in negative territory just after the Euro open. Shares with negative Q1 earnings including Adidas [ADS.GE], Metro Ag [MEO.GE] and Alcatel-Lucent [ALU.FR] leading to the downside. In addition, the CAC and DAX sold off from their strong performance in Monday's session seeing gains above 2%. The FTSE100, however, having missed yesterdays rally on both sides of the
Atlantic, opened up +1% and quickly rallied to past the +2% hurdle trading over the 4300 handle. The FTSE saw bullish activity in basic resource names following comments out of Xstrata [XTA.UK] and out performance in the financial sector headlined by RBS [RBS.UK], which did announce of the weekend that its Finance Director would be departing. Financials at a whole moved higher, bucking the trend in the DAX and CAC following the strong NY rally in large cap financial names in Monday's session that was headlined by Wells Fargo [WFC]. Stronger than expected data in Spanish April consumer confidence, German April car sales and UK April PMI pushed the FTSE100 higher at the 5:00EST hr. Strong comments out of Standard Charter added further lightness to the financial sector, especially those with Asian market exposure. The CAC and DAX pushed back to just shy of the unchanged mark while US S&P future contracts rallied at this time as well. Past 5:00ESt, the CAC moved into pos territory with continued strong performance in the financial sector and automotive names. Buying continued into the 5hr with the CAC and DAX rapidly accelerating having broken the unchanged mark, S&P's just before 5:30EST turned positive for calendar year 2009.

- In individual equity news: Alcatel Lucent [ALU.FR] Reports Q1 Net loss €402M v loss €179Me, EBIT loss €254M (adj), Rev €3.60B v €3.60Be, Guides FY09 op income flat y/y, Net debt of €841M as of March 31, Continues to expect global telecommunications equipment and related services market to fall 8-12% at constant currency in 2009. || Metro Ag [MEO.GE] Reports Q1 Net loss €100.0M v loss €50Me, EBIT €84.0M v €103Me, Rev €15.17B v €15.1Be, Food sales marked by significantly declining positive price effects, The global economy is in the deepest recession since the Great Depression. All regions are affected by the downturn. || Standard Charter [STAN.UK] Provides Interim Management Statement: Group has had a strong first quarter, delivering record levels of income and profit. Our own account benefited from strong trading gains largely on the back of client generated transaction flows and effective management of positions in Rates and FX.Asset and Liability Management has had an excellent performance, reflecting high levels of liquidity, but also upward sloping yield curves in a number of our geographies. Impairments for Q1 are seen in line with previous expectations. || Alstom [ALO.FR] Reports FY09 Net €1.1B v €1.13Be, Rev €18.74B v €18.9Be, Backlog €45.7B v €39.2B y/y, Orders received €24.6B v €23.5B y/y. || Hannover Re [HNR1.GE] Reports Q1 Net profit €216.1M v €158Me, EBIT €305.8M v €220Me, Gross premiums €2.66B v €2.60Be, Based on its strategic orientation and the available market opportunities in non-life and life/health reinsurance, Hannover Re anticipates a good result for 2009. At constant exchange rates the net premium volume should grow by approx. 25%. Expects net premium in total non-life reinsurance business to grow by approx. 20% in 2009. || Adidas [ADS.GE] Reports Q1 €5M v €92.9Me Rev €2.58B v €2.56Be, Q1 Gross Margin 45.2% v 49.1% y/y, Q1 Group inventories +18% y/y. || Hypo Real estate [HRX.GE] Reports Q1 Net loss €382M v gain €148M y/y, Pretax loss €406M v €530Me, Q1 markets posed major challenge for the firm,- Q1 loss from financial investments €30M, Q1 trading losses €162M v €33m y/y, Q1 provisions for loan losses/risk positions €262M, Have made significant restructuring operations in Q1, Core capital ratio at 6.3% v 6.2% at end of FY08. ||

- Speakers: SNB's Hildebrand reiterated the prior view that the Swiss central bank must ensure long term price stability. He again commented that
Switzerland could see domestic negative inflation in 2009 and zero inflation levels for the 2010/2011 period. Oil price decline has contributed to deflationary concern sand that facts do not support any accusations of Swiss protectionism measures (in regards to recent SNB currency intervention). Recent data suggested that economic decline was slowing and that the downturn would have been worse without fiscal stimulus programs. || German Fin Min stated that the ECB needed to take action on bad bank assets and that the Govt to apply a narrow definition of such bad assets. He reiterated his opposition to third stimulus package for Germany

||Australian Treasurer Swan commented that the RBA statement following the unchanged interest rate announcement reflected the weakness of global economy. Budget deficits to be prolonged due to contraction in demand || New Zealand Fin Min English commented that New Zealand would not remove its bank deposit guarantees || Reportedly, the Polish Gov't will be cutting its 2009 GDP growth forecast to +0.5% to +1.0% range from prior view of +1.7% growth || Polish Central Banker Trenkner commented that Poland's 2009 GDP might grow around the 1% level. She stated that the MPC should not cut interest rates at its policy meeting later this month. She saw the Polish economy stabilizing within 1 or 2 quarters ||
Sweden's Riksbank April Minutes: Interest rates to remain at a low level until 2011, could adopt alternative measures if economy continues to deteriorate

- In Currencies: || The EUR/USD moved off its overnight highs of 1.3420 seen in
Asia. Dealers noted that risk appetite was behind the support for recent weaker USD and JPY. Overall dealers continue to believe that the Euro gains had lost sight of fundamentals as evident by the EU Commission's lowering of the 2009 and 2010 GDP views. The ECB is expected to cut its key rate by another 25bps at Thursday's policy meeting. The pair tested the 1.3320 level, where technical support provided a consolidation phase for the duration of the morning. The GBP was broadly firmer following better-than-expected PMI contraction data for April. GBP/USD tested above the 1.51 level for the first time since mid-January. EUR/GBP probed closer towards the key technical level of 0.8800 as it printed 0.8846 in the session. The CHF was broadly weaker following comments from SNB's Hildebrand and a weaker Apr SECO consumer climate data. The JPY was mixed in the session. USD/JPY tested the 98.60 level in early Europe before moving back into the 99 area. Renewed dealer chatter circulating that Japan's FSA could reduce leverage on currency trading accounts to curb speculation helped the JPY firm up in late Asian trading. || China's FX regulator SAFE, has published rules aimed at non-resident foreign exchange accounts. The rules are aimed at making it more difficult for speculative "hot money" to flow in and out of the country. Under the proposed rules, Chinese and foreign banks would have to clearly label currency accounts opened by foreign firms and enhance oversight of transactions between these and domestic accounts.

-In Fixed Income: Gilts opened lower partly catching up on Monday's half-point drop in German Bunds after a British public holiday yesterday. Dealers noting that US Treasurys continued to be weighed down by supply concerns. Jun T-Bond futures off 0.3% at 122-06 with the yield at 4.08%.

- In Energy: IPIC to complete Abu Dhabi-Fujairah oil pipeline by 20111 with capacity of 1.5M bpd

*** NOTES ***

- The economic data picture will pick up as the week progresses. BOE and ECB interest rate decision on Thursday; Key U.S. employment data figures Wed through Fri

- WSJ: US expected to direct about 10 banks of the 19 stress tested to increase capital

- Bank stress tests due Thursday. Will 10 of 19 need capital as the article suggests?

- Australia RBA left their interest rates unchanged and hinted that its easing cycle might be over at this time.

- AIG is said that its Quarterly results would reportedly not include a capital request and woiuld not need Govt cash for Q1

- GM April China sales up 50% y/y to 151.1K vehicles.

Tokyo index of office rents drops for first time in 4 years and its largest decline in 13 years.

- Renewed chatter that Japan's FSA plans to reduce leverage in currency trading from 100 times leverage to around 30 times leverage in an effort to curb speculation

- Looking Ahead: More US earnings with Archer Daniels [ADM]; Constellation Energy [CEG]; CVS Caremark [CVS]; Duke Energ [DUK]; Emerson [EMR]; Kraft [KFT]; Molson Coors [TAP]; Weyerhaeuser [WY] expected to report ahead of the NY opening bell

- 6:45 (US) Fed's Rosengren speaks in Hong Kong

- 8:00 (BR) Brazil Mar Industrial Production M/M: 1.3% expected v 1.8% prior, Y/Y: -9.7% expected v -17.0% prior

- 10:00 (UK) BoE to buy back £3.5B in 2020 - 2027 Gilts

- 10:00 (US) Fed's Bernanke apprears before House joint Economic Committee

- 1:00 (US) Treasury to sell $35B 3y Notes in re-opening



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