User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday August 24, 2009 - 09:57:13 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - European Market Update: Chinese, Russian officials remain cautious on achievable sustainable economic growth

Today 05:50am EST/09:50am GMT

European Market Update: Chinese, Russian officials remain cautious on achievable sustainable economic growth



- (AS) Austrian Jun Industrial Production M/M: 0.6% v -1.5% prior, Y/Y: -11.4% v -13.5% prior

- (DE) Danish Aug Consumer Confidence Indicator: -2.6 v -1.0e

- (TT) Taiwan Jul Unemployment Rate: 6.0% v 6.0%e

- (TT) Taiwan Jul Export Orders Y/Y: -8.8% v -9.8%e

- (TT) Taiwan Jul Industrial Production Y/Y: -8.1 v -10.0%e

- (EU) Euro-zone Jun Industrial New Orders M/M: 3.1% v 1.8%e ; Y/Y: -25.1% v -28.3%e

- (IC) Iceland July Wage Index M/M: 0.45 v 0.2% prior; Y/Y: 2.6% v 3.0% prior


- In equities news overnight: Rising risk appetite continued into the European open on Monday. The latest catalysts were Friday's much stronger than expected
U.S. existing home sales data and optimistic comments from policymakers at the Jackson Hole symposium. European equities opened in the positive but saw their best levels erode on continued cautious comments from the Chinese Premier Wen that various road bumps remain on the path for a sustainable economic recovery. European bourses up around 0.7% as the NY morning approached.

In specific stocks; Lundbeck [LUN.DC] FDA granted marketing approval for Sabril in treatment of epilepsy || BBVA [BBVA.SP] Acquired the Banking Operations of Guaranty Bank based in
Austin, Texas from the Federal Deposit Insurance Corporation (FDIC), effective immediately. || Sulzer [SUN.SZ] Reported H1 Net profit of CHF156M above the estimates of CHF125M. Revenues were CHF1.7B in line with the CHF1.6B estimates. || Yule Catto [YULC.UK] Reported H1 Pretax £19.9M above £18M estimates. Revenues were £262M compared to expectations of £276M. the company did note it expected FY results to be slightly ahead of its previous view. || Novartis [NOVN.SZ] Received approval in EU for Xolair to treat children aged 6 to 11 suffering from severe persistent allergic asthma || TeliaSonera [TLSN.SW] Announced two Baltic acquisitions. It made cash offer for Estonia's EESTI Telekom for EEK93/shr in a deal valued at EEK5.12B; And cash offer for Lithuania's TEO LT for LTL1.83/shr in a deal valued at LTL527M (combined acquisition valued at SEK4.89B)

- Speakers: China's PM Wen reiterated his cautious views. He stressed that
China would continue with proactive fiscal policy and moderately loose monetary policy. Wen reiterated the view that economic recovery was not yet on solid footing can not be blindly optimistic || Japanese Vice Fin Min Tango stated that Japan needed to restrain bond sales as much as possible. The official declined to comments on Hatoyama bond sale remarks. During the Asian session today, Japanese press noted that DPJ leader Hatoyama commented that if his party wins the upcoming general election next week it would not raise government bond issuance in the next fiscal year || Russian Econ Ministry stated that the country's July GDP was up 0.5% compared to June. On an annual basis the GDP figure was -9.3% versus -10.1% prior reading in June. The economy showed signs of improvement but the crisis was not over yet. The ministry forecasted Aug inflation expected between 0.3% to 0.4% and added that the rate could decline further in Sept || (FR) French Min stated that the Gov't has spent 65% of €26B stimulus package. The official noted that its economy begging to pick up

- In Currencies: The USD was modestly firmer against the major pairs as the week began. The GBP was softer on
UK revenue concerns following the public spending data released last week. The USD and JPY slowly grinded for gains against the major pairs aided by continued cautious comments from Chinese officials. Russia Econ ministry also hinted toward being overly optimistic on the improved global environment. EUR/USD hoving around the 1.43 mark through out the session with little momentum to follow through its price action at this time. USD/CHF holding above the 1.0570 level.

- In Fixed Income: A quiet start to the week in
Europe, with government bond prices drifting modestly lower as the equity rally continues. Yields are for the most part steady in cash markets with the 10y Note hovering around 3.55%, the 10y Gilt at 3.64% and the Bund at 3.325%. Norway's NOK4B 2017 auction was covered almost 3 times, whilst Slovakia sold €461M in 2013 bonds with a bid-to-cover of 1,7, comfortably above prior results. Three month Euribor improved by 1 bps to fix at 0.84%

- In Energy: Nigerian rebel group MEND said it has suspended peace talks because it said the Nigerian government expected disarmament without real issues being addressed || Iraqi Oil Min commented that it did not see the need for OPEC to increase crude output at next meeting in Sept.

||Petrofac [PFC.UK] Reported H1 Net profit of $145.6M better than the $140M estimate. Revenues were $1.6B just below the consensus view of $1.7B. || Gamesa [GAM.SP] Awarded $160M wind turbine order from
Canada's Western Wind Energy [WND.CA]. Contract is for the procurement of up to 120 MW of wind turbine generators. || Soco [SIA.UK] Announced spudding of first well on Marine XI off Congo ||

- In the papers: FT had an article noting that
Germany could face a wave of corporate restructurings and potential mass job-cuts following next month's federal elections. Article noted that according to Germany's top managers, companies have deferred job cuts to ensure re-election of a business-friendly gov't and there has been an implicit "pact" ahead of the Sept 27th ballot || Nouriel Roubini, the New York University professor stated that the chance of a double-dip recession was increasing because of risks related to ending global monetary and fiscal stimulus || French banks to propose tougher rules on bonuses according to Les Echos. Article noted that the proposals will include increasing the delay between generating a profit and paying a bonus, and fixing the amount of variable compensation that can be delayed at 66%

*** NOTES ***

China's PM Wen maintains a cautious tone on achieving a sustainable recovery.

***Looking Ahead***

- 8:00 (HU) Hungarian Central Bank Base Rate Decision: Consensus expectations for a 50bps cut to 8.00%

- 8:30 (US) Jul Chicago Fed Nat Activity Index: No expectations v -1.8 prior

- 8:30 (CA) Canadian Jun Retail Sales M/M: 0.2%e v 1.2% prior, Less Autos M/M: 0.4% e v 0.7% prior

- 10:00 (UK) BoE 2019 - 2032 reverse Gilt auction

- 10:30 (IS) Israeli Central Bank Base Rate Decision: No change expected from the current rate is 0.50%

- 11:00 (US) Fed 2011 - 2012 coupon pass

- 12:00 (CA) Canada to sell 5y Notes

- 15:30 (MX) Mexico July Preliminary Trade balance: -558M expectedv -209M prior


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