User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday October 12, 2009 - 10:14:07 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - European market Update: Dollar sentiment continued to be weight upon by reserve diversification

Monday, October 12, 2009 5:57:36 AM

 European market Update: Dollar sentiment continued to be weight upon by reserve diversification

 

*** ECONOMIC DATA ***
- (IN) India Aug Industrial Production Y/Y: 10.4% v 9.7%e
- (GE) German Sep Wholesale Price Index M/M: -0.2% v 0.3%e; Y/Y: -8.1% v -7.7%e
- (CZ) Czech Aug Final Industrial Output Y/Y: -8.4% v -8.1% prior; Construction Output: 0.6% v -4.4% prior
- (TU) Turkish Sep Capacity Utilization: 70.1% v 72.6%e
- (SW) Swedish AMV Unemployment Rate: 5.4% v 5.4%e

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
- In equities news overnight: Strong Q3 earnings out of Phillips Electronics [PHIA.NV] have pushed FTSE100 and DAX30 indices' to new 2009 highs. Asian trading closed decidedly mixed but these concerns were entirely shrugged off by European equities. Pre-market earnings from Phillips rallied broader tech, electronic and health care names with Siemens [SIE.GE] and Bayer [BAYN.GE] trading higher in sympathy. Equities as a whole were significantly bid throughout the European morning with 2009 highs printed within 30min of trading on the FTSE and then DAX. With light economic and data flows, markets have faced little challenge to the upward progression, and have as such continued to trend higher. Industrial, tech and healthcare names are key outperformers on the EuroStoxx50, but basic materials, health care and consumer goods have also traded broadly higher. Equities are looking forward to a busy Q3 earnings week with highlights in the financial, retailer and technology sector in both Europe and the US expected. Into 5:30EST, equity markets are all trading above 1.0% to the positive side on light trading volumes.

-In individual equities: Phillips [PHIA.NV] Reports Q3 Net €176M v €48Me, Rev €5.6B v €5.5Be. Q3 EBITA €344M v €348Me. Q3 Health care sales +1% y/y. Q3 Consumer Lifestyle -20% y/y. Q3 Lighting -11% y/y. Q3 GM&S -225 y/y. Q3 inventories -1.1% y/y. CEO: 'Remain cautious about the short-term outlook in the absence of structural recovery in the majority of our end markets.' || Xstrata [XTA.UK] Sells 70% stake in El Morru for $465M to Barrick Gold. || Sinclair Pharma [SPH.UK] Reports preliminary FY09 Rev £30.4M v £31Me; Purchases two products from Solvay for €17.5M. || Lloyds [LLOY.UK] Could prevent private equity companies from investing in $79B property portfolio - London Independent. || Barclays [BARC.UK] Seeking to spin off a portfolio of credit assets, which is worth £4B - FT. || Deutsche Telkom [DTE.GE] The merger of the UK mobile units of France Telecom and Deutsche Telekom could be delayed - Guardian. || Man Ag [MAN.GE] Has reportedly replaced majority of truck sales unit -Der Spiegel. || Heidelberger Druck [HDD.GE] Reports prelim Q2 Rev €500M; sees 2009/2010 EBIT -€150M to -€110M. ||

- Speakers: Prime Minister Gordon Brown commented that ending quantitative easing at this time would "imperil" its economic recovery. Confirmed press speculation that the UK Gov't planned to sell £16B on non-financial assets ||German DIW Institute amended its 2009 and 2010 GDP forecasts higher. It now sees 2009 GDP contracting by 5.1% compared to its view of -6.4% back in July. 2010 GDP is now seen rising by 1.3% compared to +0.5% prior. 2009 CPI seen at 0.3% and 2010 at +1.0%. the institute forecasted 2009 German exports at contracting by 15.1% y/y and 2010 at rising by 4.1% y/y. lastly it forecasted Germany's public deficit at 3.1% and at 4.9% in 2010

- In Currencies: The GBP was broadly weaker against the major to start the week as European traders took note of a Centre for Economics and Business Research (CEBR) report which noted that UK interest rates would stay at 0.5% through 2011, and would not rise to 2% before 2014. The GBP/USD fell below the 1.5770 level to test its lowest level since May. EUR/GBP tested the mid-93 handle for six-month highs.


-The USD began the European morning on a firmer note against the major pairs but as the day wore on, the dollar began to wane in sentiment. Dealer concerns about reserve diversification were highlighted by a recent Barclays reports in which nations reporting currency breakdowns put 63% of the new cash into euros and yen in April, May and June period with Emerging markets'' central banks appearing more aggressive than in the past in shifting out of the dollar into other G10 currencies. Barclays noted that new reserves of central banks were comprised of 37% in USD compared to the 63% average since 1999. This seemed to be reflected in the IMF's Sept 30th quarterly report on currency reserves in which the overall USD portion of reserves declined to 62.8% from the 65.0% seen in the prior quarter


- In specific price action, the EUR/USD pair was unable to break below the 1.4670 level where central bank bids were rumored to lurk.

- In Fixed Income: Gilts have performed strongly across the curve after a UK think tank predicted the BoE keeping the official Bank Rate below 2% for another five years. UK PM Gordon's Brown comment that ending quantitative easing would "imperil" the economic recovery and prolong the recession reinforced the sentiment and the entire term structure has compressed by roughly 5 basis points at the time of writing with 2y Gilts around 0.75%, 10y Gilts at 3.40% and 20-year Gilts 3.94%. Some cross market spread trades have dragged Treasury yields lower after Friday's damage, although liquidity is set to be thin today with Chicago closed and any as such gains are likely to be limited. Bunds have ignored the excitement with the 10 year yield currently higher by 2bps at 3.22% amidst a modest equity rally.

*** NOTES ***
- Phillips Electronics [PHIA.NV] beats estimates on earnings
- USD sentiment weighed down by continued central bank diversification
- Trading volumes were light with Japanese holiday and US banking holiday

***Looking Ahead
- 8:00 (IC) Icelandic Unemployment Rate: No estimates v 7.7% prior
- 8:00 (PD) Polish Aug Current Account: €15Me v -€565M prior, Trade
- 15:00 (MX) Mexico July Gross Fixed Investment: -10.5% expected versus -12.7% 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 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