User Name: Password:      Register - Lost password?

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

Share This Story:
| | Email

Forex Blog - European Market Update: APEC members cautious on global growth outlook; USD finds verbal support in session (Trade the News)

Thursday, November 12, 2009 5:58:41 AM
 European Market Update: APEC members cautious on global growth outlook; USD finds verbal support in session
 
*** ECONOMIC DATA ***
- (RU) Russian Gold & Forex Reserve: $433.9B v $432.8B prior
- (FR) France Sept Current Account: -€3.7B v -€4.0B prior
- (SP) Spain Q3 GDP Q/Q: -0.3% v -0.4%e; Y/Y: -4.0% v -4.1%e
- (SW) Sweden Oct CPI - Headline Rate M/M: 0.3% v 0.2%e; Y/Y: -1.5% v -1.6%e
- (SW) Sweden Oct CPI Underlying M/M: 0.3% v 0.2%e; Y/Y: 1.9% v 1.7%e
- (EU) ECB Nov Monthly Report: Not all monetary liquidity measures would be needed to the same extent as in the past. To withdraw liquidity in gradual manner.
- (SA) South Africa: Sept gold output -9.3% y/y
- (EU) Euro-Zone Sept Industrial Production M/M: 0.3% v 0.5%e; Y/Y: -12.9% v -14.1%e
- (SZ) Swiss Oct ZEW Survey: 56.4 v 65.0 prior

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
-In equities: European equity markets have traded in a broad range on the back of mixed sentiment, earnings, and continued commentary emanating from the APEC conference. The pre-market session was awash with earnings representing a plethora of sectors and a wide variation of results. Clear earnings beats came from UK based telecom BT Group [BT.UK] and Austrian banking group [RIBH.AS]. Earnings from potash name K+S [SDF.GE] appeared mixed but shares rallied to trade positive. Earnings misses included French utility EDF [EDF.FR], UK miner ENRC [ENRC.UK], German steel name Salzgitter [SZG.GE] and Denmark based container shipper Maersk [MAERSKB.DC] (which confirmed expectations that it see the posting of its first ever corporate FY loss in 2009). Surprise upbeat guidance from French auto name Peugeot [UG.FR] lifted the name and the broader auto sector. Following a negative open, markets rallied to session highs, led by earnings names and the financial sector. This strength was ebbed past 3:45EST following Central Bank speak from the US, Canada, and China out of the APEC conference. Equities bounced from new lows past 4:30EST as commodities and energy halted a downward trend. Light trading volumes exaggerated equity moves with European markets continuing their uptrend into the 5:00EST hr. Miners and resources sectors have continued to be the primary drag, following yesterday's outperformance, telecoms, financials and defensives have broadly outperformed.

-In individual equities: BT [BT.UK] Reports Q2 Net £428M v £204Me (unclear if comp), Rev £5.1B v £5Be. ||Maersk [MAERSKB.DE] Reports 9-month Net loss DKK3.9B v loss DKK3.6Be, Rev DKK193B v DKK194Be; FY09 group outlook unchanged. ||K+S [SDF.GE] Reports Q3 Net Loss €2.1M (adj) v loss €2Me, Rev €698M v €713Me (-52% y/y); Maintains forecasts. || Salzgitter [SZG.GE] Reports Q3 Net loss €66M v Loss €50Me, Rev €1.8B v €1.9Be, Expects to move towards breakeven in Q4. || Eurasian Natural Resources [ENRC.UK] Provides interim management statement: Revenue in H2 2009 will reflect higher sales volumes and prices || Peugeot [UG.FR] Revises FY09 forecast upwards on the back of market improvement; Recurring Op prof seen breaking even in H2 2009. || EDF EDF.FR: Reports 9 month Rev €48.3B v €45.3B y/y; Confirms FY09 guidance for net income to rise slightly y/y. || Hotchief [HOT.GE] Reports Q3 Net €36M (after minorities) v €50Me, Rev €4.6B v €4.9Be. || ABI Inbev [ABI.BE] Reports Q3 Net $1.6B v $1.4Be, Rev $9.7B v $10Be; Q3 volumes -3.2% y/y. || Raiffiesn [RIBH.AS] Reports Q3 Net €78M v loss €19Me, Rev €1.1B v €1.1Be. ||

- Speakers: APEC Ministers Formal Communiqué noted that the region was committed to resisting protectionism and expressed that the economic recovery was seen as fragile with uneven growth seen in coming quarters. APEC noted that monetary policies should reflect market oriented exchange rates and fundamentals. On the rebalancing issue it stressed that members with external deficits take policies to support policies supporting private savings while members with external surpluses to strengthen domestic growth sources. It noted that unemployment was unacceptably high in some countries. Lastly the group pledged to work together to ensure sustainable economic recovery || US Tres Sec Geithner reiterated the importance of strong USD. He noted that Asia was leading the world towards recovery and that US exports were growing at healthier rate. He stressed that it was important for USD to improve its fiscal situation and that its deficits would be reduced over time || Canada Fin Min Flaherty commented that there was a "very substantial " risk of ending stimulus measures early || ECB's Tumpel-Gugerell commented that Monetary policy could affect market stability and that interest rates are blunt tools against market bubbles. She noted that central banks need new tools to identify risks || China Fin Min Zhu stated that China continue 'moderately easy' monetary policy and its proactive fiscal policy next year (in line with PBoC). He noted that current stability was part of China's stimulus program. He did note that the APEC members had good discussion on exit policy for special measures || France's Lagarde commented that stimulus measures would continue in the Euro-zone through 2010: Euro competitiveness has improved in recent months; Euro-zone economy slightly picking up || Australian PM Rudd commented that Australia supported the USD as a reserve currency and added that th dollar has provided stability from time to time || China Fin Min reiterated that the country would continue its 'moderately easy' monetary policy and proactive fiscal policy next year || UK Council of Mortgage Lenders (CML) Lowered its full year 2009 repossession forecast to 48K form 65K prior. It noted that the forecast was being cut "in recognition of lender forbearance, government measures and the beneficial effect of continuing low interest rates || German HDE Retail Association stated that it forecasted 2009 Holiday retail sales down 1.5% y/y and noted that the retail situation to deteriorate in 2010 on rising jobless. It saw overall 2009 sales down 2.0% y/y (unchanged from prior forecast in Sept) but a majority of retail sectors expecting a worsening conditions next year. The HDE did not expect German tax cuts to increase consumption in 2010 || Russia Pres Medvedev commented in his annual address to nation that Russia cannot blame external factors for country's economic crisis and that its export focus was putting brakes on innovation. He noted that over 1M people in Russia were at risk of unemployment || ECB Monthly report mirrors recent Trichet press conference from last week. ECB stressed that not all its liquidity measures will be needed to the same extent as in the past and that the ECB will "make sure that the extraordinary liquidity measures taken are phased out in a timely and gradual fashion || IMF's Strauss Kahn commented in a TV interview the he believed the economic recovery was back on track, but stressed that its too was early to say global crisis was over while unemployment is high. The IMF head commented that the USD had been resilient during the economic crisis and would continue as a main global currency for a long time to come

- In Currencies: The USD continues to maintain a consolidating tone throughout the week despite continued fresh all-time highs in gold and various 13-month highs in equity markets. The APEC summit in Singapore released its formal communiqué and reflected the G20 view on rebalancing efforts. There was a slew of pro-dollar comments from all sorts of finance officials throughout the session. The USD did respond a bit and exhibited some initial strength during the European morning after US Treasury Geithner spoke in the after math of the APEC summit and reiterated importance of strong USD. The EUR/USD tested the 1.4930 level before stabilizing. Dealers did note that Far East names were noticeable buyers of Euros below the 1.4950 area short-term. USD/CHF probing above the 1.0100 level

- Fixed Income: Bonds were firmly bid for most of the European morning but a reversal in risk appetite around 10:00 GMT has seen the market reverse course with Bund futures moving into negative territory and Gilt futures also well off their highs after the DMO sold £1B in 2023 linkers with a weaker than average bid-to-cover of 1.66. Treasuries continue to see good buying in the overnight session with the 10y Note yield moving as low as 3.42% in Europe

- In Energycommodities: IEA November Monthly Report again raised its 2010 oil demand by 140K bpd to 86.2M (5th consecutive increase for 2010 demand). It saw Oct Global supply up 635K bpd to 85.6M bpd. IEA revised higher its 2009 global oil demand by 210K bpd to 84.8M bpd. It did note that the rise in global oil prices posed risk of 'de-railing' economic recovery. IEA saw OPEC Oct compliance seen at 61% v 62% m/m and OPEC Oct output supply up 110K bpd to 29M bpd (highest rate in 10 months). OPEC spare output capacity seen at 5.4M bpd and the OECD oil stock cover at 60 v 60.7 days m/m. Crude oil floating storage seen at 60M ||

*** NOTES ***
- SNB: Does not believe central banks would be inclined to use interest rates to calm market exuberance; ECB's Tumpel-Gugerell seems to disagree
- APEC summit in Singapore cautions against protectionism; early withdrawal of stimulus measures.
- USD finds verbal support from Geithner, other APEC fin mins
- Australian Employment report exceeds forecasts
- India Industrial production beats estimates
- RealtyTrac: Oct US foreclosure activity at 332.3K; -3% m/m, +19% y/y and noted that Four states account for 52% of Oct foreclosure activity

***Looking Ahead:
- Major earnings ahead of US equity open include BCE, KSS, WMT
- 7:00 am (US) MBA Mortgage Applications w/e Nov 6th: No est v 8.2% prior
- 8:30 am (US) Initial Jobless Claims w/e Nov 7th: 510Ke v 512K prior, Continuing Claims: 5.7M e v 5.749M prior
- 8:30 am (CA) Canadian Sept New Housing Price Index: 0.2%e v 0.1% prior
- 11:00 (US) DoE Crude Oil/Gasoline/Distillate Inventories
- 14:00 (US) Oct Monthly Budget Statement: -$162.5Be v -$155.5B 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 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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