User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday September 21, 2009 - 10:04:11 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - European Market Update: Equity markets softer as more defensive bias builds; Pending IMF gold sale helps USD recover from multi-month lows

Today 05:54am EST/09:54am GMT

European Market Update: Equity markets softer as more defensive bias builds; Pending IMF gold sale helps USD recover from multi-month lows

*** ECONOMIC DATA ***

- (RU) Russian Aug Unemployment Rate: 8.1% v 8.3%e

- (RU) Russian Aug Retail Sales M/M: 1.8% v 1.8% prior, Y/Y: -9.8% v -9.0%e

- (SZ) Swiss M3 Money Supply Y/Y: 7.7% v 7.7% prior

- (SA) South African Jul Retail Sales Y/Y: -3.9% v -5.9%e


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

- In equities news overnight: European equities opened the week's trading on a mixed note before moving broadly negative. Directional signals from
Asia were mixed and light as both Japanese and Indian markets were closed for public holidays. Trading in China has maintained its volatile nature with the opening of Mettalurgical Corp of China on the Shanghai Composite. The Shanghai Composite traded in a wide band, at one point trading to the downside as much as 3.0% before rallying into the close, final levels printed positive 0.15%. On the back of this sentiment, European stocks quickly moved lower on a return of speculation that equities have over-run their post March 2009 rally. Equity losses were seen in Industrials (ArcelorMittal [MT.NV] cut at BNP Paribas), Basic Resources (China concern, BHP [BHP.AU] commentary) and Financials (speculation of RBS [RBS.UK] secondary, OECD comments). Volume levels have come in lighter than averages with little economic data to drive equity direction. Into the 5:00Est hr, equities have continued their downward momentum.

-In individual equities: RBS.UK: Considering additional share issuance to private investors in efforts to prevent the UK Govt stake from increasing -
London times. Placement estimated at £3-4B and may replace a small segment of the Govt stake (about 11% of market cap). || Allied Irish [ALBK.IR] Ireland expects the firm to require more capital than its own €2B estimate - Sunday Tribune. || VW [VOW.GE] Volkswagen AG is in advanced talks for buying a stake in Suzuki Motor Corp - German press citing Suzuki executive. || ThyssenKrupp [TKA.GE] Spokesperson: Will reduce short time work by approx 33% in September. || Banco Santander [SAN.SP] Announces launch of primary offer of units of BS Brasil. Total amount of the transaction will be between BRL11.55B and BRL13.13B (€4.34 - 4.93B, approximately, at current exchange rates). || Solar World [SWV.GE] CEO: All of groups production sites are operating at 100% of capacity. ||

- Speakers: ECB's Weber reiterated the ECB viewpoint that the economic freefall was over and stabilization period underway. The road towards recovery would be 'bumpy' and added that the German economy would return to the level of prosperity it had in 2008 possibly only in 2013. He saw unemployment rising in 2010 and 2011 period but not breeching the 5M level || ECB's Tumpel-Gugerell commented that the crisis would only gradually calm. She noted that banks regaining health and the return of public confidence were key factors towards resolving the crisis ||German MOF: German Economic recovery has continued in Q3; Net borrowing for 2009 likely to be below the planned €49.1B. Unclear if recovery is sustainable. Aug Total Tax revenue fell 9.9% y/y with the Federal tax revenue declining by 12.5% y/y. Low capacity utilization posed a threat for jobs and consumption || ECB's Tumpel-Gugerell noted that the crisis will only gradually calm and noted that key factors towards resolving the crisis hinged on that banks regaining health and the return of public confidence. || Reportedly China to stop issuing IPO license agreements for 4 months on the back of excess liquidity fears halts financial company's offline IPOs subscription licenses || OECD report showed continue concerns over EU banks impaired asset levels. It noted that some banks might continue to have insufficient capital levels. Financial sector needs strong and transparent stress tests and the EU should seek to avoid and lower levels of protectionism. || Fitch's reaffirmed of
Italy's "AA-" sovereign rating and stable outlook

- In Currencies: USD opened firmer against the major currency pairs with dealers attributing the better tone on the news of the IMF gold sale plan. (IMF announced the sale of 403.3 metric tons of gold on late Friday). However some chatter that
China would discuss the gold purchase at the upcoming G20 later this week caused the dollar to consolidate its gains throughout the European morning. The JPY was weaker as USD buy stops were triggered above last week's highs in the 91.60-65 region and the pair tested above the 92 handle.

- In Fixed Income: Dealers noting that foreign appetite for US Treasuries remains strong. US Treasuring data shows that foreign investors purchased 43.1% of the $1.41 trillion of notes and bonds sold in 2009 compared with 27.1% of the $527B issued at this point in 2008 || With little by way of data and no supply to speak of, it has been a quiet European morning in government bond markets. Volumes are thin with well under 200k contracts traded at the time of writing.
Spain's syndicated 30y has attracted good bidding, with order books said to be in excess of €7B and pricing indicating a roll of around 5bps to the existing issue according to traders. Perhiperal spreads are a touch wider versus Bunds, despite Fitch's reaffirmation of Italy's AA- rating and stable outlook. Corporate issuance has been similarly light with Lloyds mortgage backed bonds and tier 1 perpetual from Seba the only announcements of note. Three month Euribor fixed steady at 0.76%.

- In Energy:
China might increase prices for hydro-electric power in the near future according to the China Securities Journal. The article noted that currently, Chinese hydro-power prices are lower than prices for coal-fired electricity. And that the government might make hydro-power prices equal to prices for coal-fired electricity. Hydro dams made up about 16.5% of China's power output in 2008. || China's Sinopec [SNP stated that current sales of refined oil products were still lower than a year ago levels. Domestic diesel demand has not recovered effectively despite economic recovery

- In commodities:
China reportedly to discuss potential purchases of IMF gold at upcoming G20 meeting . ***Reminder: Back on Apr 23rd China State Administration of Foreign Exchange (SAFE) noted that its Gold reserves were at 1,054 metric tons compared to levels of 600 metric tons back in 2003. Back in May PBoC's Hu noted that China had been buying gold in its domestic market over the past 5 years, but had only recently refined this up to a standard enough to count as a reserve and would keep markets informed of further increases. Hu stated that "we will continue to announce our gold reserve." Last November China's PBoC was considering raising its gold reserve by 4K tons



*** NOTES ***

- Foreign appetite for US Treasuries remains strong (see fixed income section)

- China to stop issuing IPO license agreements for 4 months on the back of excess liquidity fears

- OECD: Continue to have concerns over EU banks impaired asset levels

- B of A analyst: equity market now has mixed signals; maintaining a more defensive bias as negative divergences build



***Looking Ahead

- 8:30 (CA) Canadian Jul International Securities Transactions: C$9.5Be C$10.5B prior

- 10:00 (US) Aug Leading Indicators: 0.7%e v 0.6% 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."



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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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