User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday November 16, 2009 - 11:11:45 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - European Market Update: Risk appetite theme remains intact; Lack of non-conciliatory FX-rhetoric from the U.S.-China discussion (Trade the News)

Today 05:58am EST/10:58am GMT

European Market Update: Risk appetite theme remains intact; Lack of non-conciliatory FX-rhetoric from the U.S.-China discussion


- (EU) EU Oct 25 Car Registrations: 11.6% v 6.3% prior

- (SP) Spain Sept House Transactions Y/Y: -17.2% v -9.9% prior

- (CZ) Czech Oct PPI Industrial M/M: -0.2% v 0.0%e; Y/Y: -4.6% v -4.5%e

- (CZ) Czech Sept Export Price Index Y/Y: -4.3% v -2.7% prior; Import Price Index Y/Y: -9.3% v -7.2% prior

- (TU) Turkey Oct Consumer Confidence: 80.5 v 81.9 prior

- (TU) Turkey Aug Unemployment rate: 13.4% v 13.0%e

- (SW) Swedish Oct Avg House Prices (SEK): 1.78M v 1.78M prior

- (DE) Denmark Oct Wholesale Prices M/M: -0.3% v -0.1% prior; Y/Y: -5.3% v -7.6% prior

- (RU) Russia Oct Producer Prices M/M: -0.9% v 1.3%e; Y/Y: -1.8% v 1.6%e

- (IT) Italian Oct Final CPI NIC incl tobacco M/M: 0.1% v 0.1%e; Y/Y: 0.3% v 0.3%e

- (IT) Italian Oct Final CPI-EU Harmonized M//M: 0.4% v 0.5%e, Y/Y: 0.3% v 0.4%e

- (NO) Norway Oct Trade Balance (NOK): 27.4B v 22.6B prior

- (EU) Euro-Zone Oct CPI M/M: 0.2% v 0.3%e; Y/Y: -0.1% v -0.1%e;
CPI-Core Y/Y: 1.2% v 1.1%e

- (IT) Sept Current Account: -€4.2B v -€3.2B prior


-In equities: European equity markets have traded broadly positive through the morning session. Gains on the FTSE100 above 5344 set new 2009 highs. Equities have been trading positive on the back of sentiment that rolled out of
Asia following Japan's prelim Q3 GDP read, solid EU new auto registrations for October and gains in commodity prices that have bid the mining and mineral names. The risk appetite theme remains intact after a better Q3 GDP data from Japan. EU new car registrations, showing an increase of 11.1% v 6.35% m/m supported Renault [RNO.FR], Fiat [F.IT] and PSA Group [UG.FR]. In earnings related movements, EADS [EAD.FR] shook off disappointing numbers while maintaining its order expectations and traded higher, UK listed Lonmin [LMI.UK] and Amlin [AML.UK] also moved higher following earnings related releases. As the Dubai Air Show unfolds, key orders have been engines and weapons systems contract. Into 4:30EST Cisco [CSCO] announced its intention to raise its offer for Tandberg to NOK170/share bringing excitement into the tech and M&A vulnerable names. In other M&A news, Japanese based Cannon [7751.JP] launched a €1.5B offer for OCE [OCE.NV]. Volumes in trading have remained light with the FTSE nearly 40% off its moving averages.

-Individual equities: Tandberg [TAA.NO] Cisco increased offer for company to
NOK170/shr (NOK153.5/shr prior) and extends acceptance period to Dec 1st. Lonmin LMI.UK: reported FY09 Pretax loss $272M v loss $140Me, Rev $1.1B v $1.0Be, declares no final dividend. Amlin [AML.UK] provided Interim Management Statement: 10 month premiums £1.4B v £904M y/y; positive on FY10 goals. EADS EAD.FR: reported Q3 Net loss €87M v gain €67Me, EBIT €210M v €250Me, Rev €9.5B v €9.6Be; FY09 order income maintained at 300. OCE [OCE.NV] Canon to launch tender offer to buy shares of company for up to €730M at €8.60/share (€5.15 last). H&M [HMB.SW] reports October SSS -3% v +5%e.

- Speakers: ECB's Ordonez commented in an FT interview that any interest rate increase was out of the question for the time being and noted that markets were not expecting a change until 2Q 2010. ECB's Nowotny commented that diverging government bond credit default swaps was a major concern but financial market strains have eased greatly. The economic crisis had put the Euro to the test and the currency has acted as an anchor of stability during the recent turbulence. BOE's Tucker stated that risks taken by banks might require higher deposit levy to support costs for future crises. Fed's Hoenig commented that there were significant weaknesses to work though in the
US economy. All institutions must be allowed to fail, regardless of size or influence EU Almunia. Deterioration in employment prospects was a huge concern and reiterated that there are uncertainties about strength of economic recovery. Euro adoption is not an immediate fix to economic crisis. Almunia reiterated the G20 view that it was too early to commence in exit strategies. Japan's Fin Min Fujii commented that the topic of currencies was discussed in meeting with ECB Noyer. Both agreed to remain cautious on the 2010 economic outlook, as the recovery remained fragile. ECB's Sramko noted that the ECB growth projections could be revised upwards and that central bank members have discussed interest rate on 12-month refi operation. He also noted that the topic of currency rates needed more global coordination.

- Currencies: The USD started the European morning on a soft tone aided by a continued backdrop of improved risk appetite but overall the greenback maintaining its recent ranges despite spot gold again hitting fresh all-time highs of $1,133/oz. EUR/USD probed towards the 1.50 area after OPEC Pres Vasconcelos commented that the organization would need to reflect on pricing of oil in USDs. The comment followed a weekend of non-conciliatory currency rhetoric from the U.S. China discussions. Chinese Vice Commerce Minister (MOFCOM) Chen Jian Yuan added that the exchange rate was not related to trade imbalances and stated that
China and Asian exports were not to blame. The dealer chatter continues to focus on the alleged option barrier at the 1.48 and 1.51 strikes. Interestingly the EUR/CHF cross continues to hover at its March uptrend line seen at the 1.5070 area.

- Fixed Income: Government bonds are trading well in
Europe despite strong equities. Bunds and T-Bond futures both moved sharply higher in early European trade - a combination of thin volumes and perceived dovish statements from the ECB's Weber and the EU's Almunia. Weber noted that recent stabilization in markets does not imply a recovery, while Almunia noted that unemployment remains a major concern. Yield curves have flattened on both sides of the Atlantic thanks to better buying in the long end with 2s10s -4bps in Treasuries at 256bps, -2.5bps in Europe at 214bps and -3bps in Gilts at 243bps. European peripheral markets are uniformly weaker versus Bunds, with Greece the worst performer. With rumors swirling though the market the Greek 10y is 14bps wider versus the European benchmark to hit its widest level since mid July. China's chief banking regulator: Combination of a weak dollar and low interest rates had encouraged a huge carry trade that was having a massive impact on asset prices.

- In Energycommodities: OPEC Pres Vasconcelos noted that current oil prices are at a good level. WSJ reported that
Nigeria's main militant group MEND said to have restarted talks with Nigeria Govt over the weekend. MEND emissaries formally meeting with the president on Saturday are said to have boosted hopes that improvement in Nigeria's oil production could be sustained. ArcelorMittal [MT.NV] CEO Wurth: Overall steel demand in 2010 seen down 25% versus 2008 peak.

- Geopolitical: Iran Pres Ahmadinejad: Reiterates that Iran's nuclear rights are not negotiable

***Looking Ahead:

- (BE) Belgium Sept Trade Balance: No estimate versus €37.3M prior

- 6:30 (CL) Chile Oct Copper Exports: No est versus $2.6B prior

- 8:00 (BR) Brazil Oct Formal Job Creation: 200K expected versus 252.6K prior

- 8:30 (CA) Canada Sept Manufacturing Sales: 1.7% expected versus -2.1% prior

- 8:30 (US) Nov Empire Manufacturing: 30.0 expected versus 34.57 prior

- 8:30 (US) Oct Advance Retail Sales: 0.9% expected versus -1.5% prior; Ex Auto: 0.4% expected versus 0.5% prior

- (PD) Poland Oct Budget level: No estimates versus -5.8B prior

- 10:00 (US) Sept Business Inventories: -0.7% expected versus -1.5% prior

- 10:00 (US) TAF auction

- 10:00 (EU) ECB's Liikanen

- 11:00 (EU) ECB's Quaden

- 12:15 (US) Fed's Bernanke speaks on the US economic outlook.

- 13:15 (US) Fed's Fisher speaks on the
US economy.

- 16:15 (US) Fed's Kohn speaks on policy changes


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 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 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