User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday May 11, 2009 - 10:12:22 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - European market Update: Market debates the degree of risk appetite sentiment

Today 05:53am EST/09:53am GMT

European market Update: Market debates the degree of risk appetite sentiment

*** ECONOMIC DATA ***

- (CH) China April Money Supply M2 Y/Y: 26.0% v 25.3%e

- (FR) French Mar Industrial Production M/M: -1.4% v -0.5%e, Y/Y: -16.1% v -14.6%e

- (FR) French Mar Manufacturing Production M/M: -1.1% v -0.5%e; Y/Y: -17.7% v -16.1%e

- (DE) Danish Mar Current Account: DKK v DKK0.0B prior, Trade Balance X Ship: DKK v DKK1.8B prior

- (DE) Danish Apr CPI M/M: % v 0.3% prior; Y/Y: % v 1.8% prior;

- (DE) Apr CPI EU Harmonized M/M: % v 0.4% prior, Y/Y: % v 1.6% prior

- (IT) Italian Mar Industrial Production M/M: % v -2.0%e; Y/Y: % v -21.0%e ; NSA Y/Y: % v -18.8 expected

- (NO) Norway Apr CPI M/M: 0.2% v 0.2%e; Y/Y: 2.9% v 2.8%e

- (NO) Norway Apr CPI Underlying M/M: 0.2% v 0.3%e; Y/Y: 2.7% v 2.6%e

- (NO) Norway Apr PPI (includes oil) M/M: -0.6% v -0.1% prior; Y/Y: -4.7% v -0.3% prior


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

- In equities: Equity markets opened effectively flat following last Fridays gains in erratic and volatile range trading. News flow over the weekend dominated the European pre-market with deals news out Centrica [CAN.UK] and EDF [EDF.FR] and a rival bid entering the Barclays [BARC.UK] iShares sale offer. Capital raise plans from Commerzbank [CBK.GE], Lonmin [LMI.UK] added negative weight to the names in early trading. Continued questions regarding the overall health of the European and global banking system continue to be kicked around by pundits and further weight to the days trading had originated with the return of 'bear market' rally commentary, analyzing the steep rally since early March as potentially over bought and correction prone. By 3:30EST markets continued their heavy tone with the CAC and DAX below the -1% mark. Data out of the UK , including inflation and unemployment later in the trading week being pointed out as potentially down side indicating information on the true level of recovery, or stabilization in global markets. Overall sector performance remained mixed as shares within sectors diverged on news flows and sentiment out of the US. By 4:00EST, markets had found an initial bottom and began paring losses with the CAC and DAX pushing back to above the -1% hurdle. HSBC [HSBA.UK] released its H1 interim trading statement and markets took a brief moment of relief on the positive statements out of the bank. These gains were quickly paired and broad weight returned to the equity environment with the FTSE, CAC and DAX all at or near their worst levels by 5:00EST.

- In individual Equities: HSBC [HSBA.UK] Provides interim statement: Resilient start to year; in line with expectations. Tier 1 cap 9.9%, Core Tier 1 8.6%, Q1 loan impairments charges lower than Q4, Q1 impairments in US slightly lower than planned, Q1 deficit on the asset-backed securities available-for-sale reserve balance reduced by US$0.7B to US$18.0B. Loan impairment charges and other credit risk provisions rose in Q1 2009 in all customer groups and regions. || Barclays [BARC.UK] BC Partners, a private equity firm, has made a £3.5B bid for iShares, which could unravel a deal to sell the unit to CVC Capital Partners for £3B - Sunday Times. Bid comes under the 45 day 'go-shop' provision; CVC Capital is still allowed to match the higher bid. Reminder: On April 9 -Confirms agreement to sell Barclays Global Fund Advisors (iShares unit) to CVC Capital Partners for $4.4B (£3.3B). || Centrica [CAN.UK]Provides Interim Management Statement - sees FY earnings in line with expectations (FY09 Net £1.1Be, EBITDA £2.8Be). £2.3 billion cost of the investment in British Energy will be funded by approximately £1.1 billion in cash and the disposal of Centrica's 51% stake in SPE to EDF for €1.325 billion. || BT Group [BT] Could lower its final dividend to zero - London Telegraph. The company's pretax profit is seen at around £550M, which is a decline from £2B y/y. || Lonmin [LMI.UK] Reports H1 Operating Loss $142M v Loss $54Me, Rev $436M v $434.0Me, announces 2 for 9 rights issue to raise $457M (18.2% of enlarged share capital). || ICAP [IAP.UK] Offers £830M in cash for LCH Clearnet - FT. Company has been rumoured as a bidder for LCH Clearnet as far back as February. || Tui Ag [TUI1.GE] Reports Q1 Adj EBITA Loss €324M v loss €285Me, Rev €3.08B v €3.14Be. Trading since last update remains robust, with volumes in the last eight weeks tracking ahead of the cumulative position. Says remains well placed to meet the board's expectations for the year ended Sept 30, 2009. ||


- Speakers: ECB's Ordonez commented that he saw certain improvements in 'soft' economic indicators and reiterated the view that Q1 GDP in Eurozone was the bottom. Central Banks need to maintain caution on any economic outlook. He reiterated the central bank's view that does not see any big risk of deflation in Eurozone and added that there was also no inflation risk in foreseeable future || Iceland Central Bank commented that Euro adoption is seen as possibility within 4 years, but FX stability remains its priority || Investor George Soros commented that the USD was already weak, and would not likely lose further ground against Euro. Soros believes Germany should no longer reject notion of EU bonds. He saw Asia as the region to recover first from global crisis and that China would replace the US as engine of global growth || French Fin Min Lagarde noted that Q1 GDP figures likely to be bad , to revise its 2009 forecast before. She reiterated that French banks are adequately capitalized || German Econ Min Guttenberg reiterated the view that its economy is seen bottoming towards end of 2009 || Saudi Fin Min: Does not expect drop in USD significance over coming years || BoJ to set aside 15% of profits for reserves purposes from its prior 5% ratio.


- In Currencies: The USD managed to stem its bearish momentum against the European pairs in the session after opening weaker in Asia. Initial reaction among European dealers is that the recent moves in equities, fixed income and currencies might be a little oversubscribed. Some weekend press articles regarding the potential crisis in the financial markets were not over and that US banks won concessions on stress tests data.

- The EUR/USD tested above the 1.3650 level last tested just ahead of the G20 summit on April 2nd. The pair moved below the 1.3590 level as the NY morning approached. The JPY exhibited broad-based strength in the session, gain 80 pips against the USD to test 97.75, and firmer against its European counterparts with EUR/JPY at 133.00 after probing towards 135 area in Asia. GBP/JPY off over 220 pips to trade at 148.00 after being above 150 earlier today. || In recent session the USD had encountered some weakness as global risk appetite rose. The IMM data revealed that speculative accounts have registered a net USD short position for the first time since July


-In Fixed Income: Government bonds are bid in light volumes this morning in Europe, with yield curves experiencing some corrective bull flattening. The yield on the 10y Bund back to 3.41%, the yield on the 10y Gilt is back to 3.67% and the yield on the 10y Note is back below 3.28%, Ahead of the NY Fed's long end repurchase, the Long Bond yield is about 5pbs lower at 4.22% at the time of writing. In corporates, Banco Santander announced plans to issue a €1.5B 5y covered bond whilst UBS is reportedly planning its own Euro


- In Energy: Norway Preliminary April oil production: 1.99M bpd v 2.15M bpd prior month || South Korean Presidential Aide commented that the county might join 5 oil fields exploration in Uzbekistan || Iran OPEC Governor Mohammad Ali Khatibi stated that he e Expected OPEC either to cut or hold output steady during May 28 meeting. He saw OPEC compliance between 85% to 90% ||


*** NOTES ***

- Global Central Bankers cautiously optimistic on economy

- Traders debate ranges on whether equity markets are in bear market rally or if the rebound is for real.

- China Premier Wen said the government's policy response to the economic crisis goes far beyond its CNY4T stimulus package, new measures are seen emerging steadily through the year

- NYT comments on the US credit card market noting that millions of Americans will not be able to pay off their debts.

- WSJ: Banks won concessions on stress tests. Fed switched measurement of bank capital levels and scaled back the size of capital shortfall following 2 weeks of negotiations.

- Looking Ahead:

- 8:30 (CA) Canadian Mar New Housing Price Index M/M: -0.5% expected v -0.7% prior

- 10:00 (UK) BOE to repurchase £3.5B Gilts maturing between 2020 - 2032

-11:00 (US) NY Fed to conduct buyback of T-Bonds maturing between 08/15/2026 - 02/15/2039

 

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 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

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