User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday November 25, 2009 - 12:00:55 GMT
Trade the News Staff -

Share This Story:
| | Email

European Market Update: USD continues to be vulnerable following FOMC minutes and rising risk appetite; India's central bank reportedly mulling another purchase of 200 metric tons of gold purchases

Wednesday, November 25, 2009 5:58:17 AM

 European Market Update: USD continues to be vulnerable following FOMC minutes and rising risk appetite; India's central bank reportedly mulling another purchase of 200 metric tons of gold purchases from IMF


- (GE) German GFK Consumer Confidence survey: 3.7 v 4.0e
- (CZ) Czech Nov Business Confidence: -4.8 v -7.1% prior, Consumer Confidence: -8.0 v -14.3 prior; Consumer & Business Confidence: -5.4 v -8.5 prior
- (SP) Spain Sept Mortgages on Houses Y/Y: -4.2% v -6.6% prior; Mortgages-capital loaned Y/Y: -14.3% v-14.9% prior
- (TU) Turkey Sept Industrial Production Y/Y: -8.4% v -8.8% prior
- (SW) Swedish Nov Consumer Confidence: 11.4 v 8.5e; Econ Tendency survey: 98.8 v 95.8e; Manuf Confidence: -10 v -12e
- (IT) Italian Nov Consumer Confidence: 112.8 v 111.5e
- (NO) Norway Sept AKU Unemployment Rate: 3.1% v 3.3%e
- (IT) Italian Sep Retail Sales M/M: -0.1% v 0.1%e; Y/Y: -1.6% v - 2.9%e
- (PD) Polish Oct Retail Sales M/M: 3.9% v 4.5%e; Y/Y: 2.1% v 2.3%e
- (PD) Poland Unemployment Rate: 11.1% v 11.0%e
- (UK) Q3 Prelim GDP Q/Q: -0.3% v -0.3%; Y/Y: -5.1% v -5.1%e
- (UK) Q3 Preliminary Exports: 0.5% v 1.4%e; Imports: 1.3% v 2.0%e; Gov't Spending: 0.2% v 0.5%e; Private Consumption: 0.0% v -0.2%e
- (UK) Sept Index of Services Q/Q: -0.1% v -0.1%e
- (SA) South Africa Oct
CPI (all items) M/M: 0.0% v 0.0%e; Y/Y: 5.9% v 5.9%e
- (BR) Brazil Nov FGV Consumer Confidence: 115.5 v 114.5 prior
- (SA) South Africa Q4 BER Business Confidence: 28 v 25e

- European equity markets opened at session highs on the rebound from yesterday's action. Continued dollar weakness following the F
OMC minutes has led to new highs in commodities and new lows in the USD Index. These moves extend the multi-week trend pushing minerals, miners and industrials higher. Despite continued speculation of Chinese capital requirement alterations, Asian markets printed a positive session furthering equity appetite in the European morning. The one year anniversary of Mumbai's hotel attack and siege was reflected in India with the SENSEX up over 9,000 points in the year period, closing at 17198.95. Final FY09 figures out of Porsche [PAH3.GE] confirmed a second consecutive year of loss making figures and sent shares of VW [VOW.GE] lower. German bank Commerzbank [CBK.GE] held its EGM, confirming 2012 targets and integration operations with Dresdner. Equity markets halted a downward slide at 4:30EST with the UK Q3 prelim release reading that was in line with expectations (though still showing the state in continued recession). Trading volumes have been depressed through the session ahead of the holiday in the US.

-In equities: LSE [LSE.UK] Reports H1 Net 49M v 52Me, Rev 311M v 312Me. Compass Group [CPG.UK] Reports FY09 pretax 773M v 768Me, Rev 13.4B v 13.5Be. Bayer [BAYN.GE]: To increase polycarbonate operations in
India; enters into JV with Malibu Plastica. Remy Cointreau [RCO.FR] Reports H1 Net 39M v 35Me, Rev 362M v 358Me. France Telecom [FTE.FR] To merge Orange mobile Switzerland operations with Sunrise operated TDC. Nicox [COX.FR] Announces 70M (19% of market cap) secondary offering; rights issue at placement price of 3.49/share. Ericsson [ERICB.SW] To Acquire Nortel's North American GSM Business with Kapsch.

- In speakers: Russian Central Bank Ulyukayev commented that the CBR needs to continue lowering interest rates to curb the carry trade. He noted that he was more concerned about currency volatility than actual levels and plans to increase currency interventions to limit volatility. Ulyukayev added that the CBR sees no inflationary risks in H1 2010 and believes next year's inflation could be much lower than 9%. South Korea Fin Min Yoon forecasted 2010
GDP grow of 4%, up from flat this year. The ministry remains optimistic yet cautious on recovery outlook, although it is too early for an exit strategy given that the economy is not on a firm footing. Premature exit strategy from special measures might cause prolonged economic slowdown. The Indonesian Central Bank's Budi Mulya commented that the rupiah remains in line with fundamentals and said he would try to avoid volatility in currency markets. In addition, the central bank said it would not change stance regarding inflows of funds. French Budget Minister Woerth commented in a newspaper interview that French 2010 borrowing could exceed €175B as France could borrow an additional €22B without compromising its credibility. He estated that France was against any revision in the Maastrict Stability Pact. Deficit to be reduced by 1.5 percentage points of GDP if economic recovery is confirmed with ongoing deficit cuts of 1 point needed.

- In currencies: The greenback was modestly softer against the majors and commodity related pairs following yesterday's F
OMC minutes, which appeared to pave the way for additional weakness. The dollar was testing some key technical levels as thin holiday conditions set in. On Tuesday, the Fed described the dollar's decline as orderly, which dealers took as a hint for the trend to continue. Press speculation that India's central bank could purchase another 200 metric tons of gold from the IMF helped to re-enforce the higher commodity/weaker dollar trend. Spot gold hit fresh all-time highs above the $1,180/oz level. EUR/USD finally managed to move above the 1.50 handle and was approaching fresh 15-month highs. USD/CHF was attempting the bust below the parity level for the first time since April 2008. USD/JPY moved below the 88 level, which was long suggested to hold 'good bids' from the Japanese post office. Lots of dealer commentary on the Chinese yuan and future trends. Trichet, Juncker, and Almunia off to China this weekend to discuss economic and financial issues.

- Fixed Income: Gilts have outperformed after UK Q3 GDP was revised slightly upwards, in line with expectations but well short of the whispers ahead of the official release. Subsequent buying in the short end and belly has sent the yield curve steeper but it's a different story on the continent, with Germany in bear flattening mode as speculation mounts over some form of spread on the ECB's Dec 16th 12 month repo operation. With banks in the perhipery generally perceived as chief beneficiaries of the ECB's largesse, yield spreads are wider versus the core, with the Greek 10y hitting fresh 5 month highs above 180bps and Italy 4bps wider at 80bps.
Germany sold 4.1B in the second tap of the Oct 2014 5y Bobl with strong results. Ahead of the last leg of the Treasury's mammoth week of supply the question is whether yesterday's stellar performance in 5s can be repeated with liquidity expected to be thing as markets move into holiday mode . Price action in Europe suggests there are some questions. The new 7s are trading at about a 4bps roll over the existing notes in the when issued market and the benchmark 10y note is +1.4bps at 3.32%. In coprorates, Marks and Spencer launched a 10y GBP denominated issue, benchmark size.

- In Energy:
Kuwait might seek to switch its benchmark for pricing oil sold in the US to Argus Sour Crude index from the Platt's West Texas Intermediate index. The move would follow a similar action by Saudi Arabia. According to a Kuwait oil official the country does not think the West Texas Intermediate index represents the market. ||Chinese press noting that due to shortages China might import at least 700M cubic meters of gas

-In the papers: India's Central bank (RBI) could consider buying the remains 201.3 metric tons of gold from the IMF according to an article found in the Financial Chronicle. Article noted that
India was open to buying more and may purchase the remaining 201.3 metric tons from the fund . Any additional purchase would depend on successful pitching by the central bank . There have been speculation that central banks would increase their gold holdings. In early Nov, the IMF disclosed that the Reserve Bank of India purchased 200 metric tons of gold for $6.7B. Mauritius recently purchased 2 tons for $71.7M Telegraph: China steps up efforts to halt explosive growth in credit. Orders banks to raise capital or face lending sanctions.

- Risk appetite continues in thinning market conditions
- IMF: Half of banks losses might be unknown. Euro "probably a bit too strong".

***Looking Ahead:
- (PD) Poland Central Bank interest rate decision: No change expected in the base rate of 3.50%
- 7:00 (US) MBA mortgage applications w/e nov 20th: No est v -2.5% prior
- 7;30 (BR) Brazil Oct Total Outstanding Loans: No est v $1.3B prior; Private bank Lending: No est v $797M prior
- 8:30 (US) Oct Personal Income: 0.1%e v 0.0% prior, Personal Spending: 0.5%e v -0.5% prior
- 8:30 (US) Oct PCE Core M/M: 0.1%e v 0.1% prior, Y/Y: 1.4%e v 1.3% prior, PCE Deflator Y/Y: 0.1%e v -0.5% prior
- 8:30 (US) Oct Durable Goods Orders: 0.5%e v 1.4% prior, Ex transportations: 0.7%e v 1.2% prior
- 8:30 (US) Initial Jobless Claims w/e Nov 21st: 500Ke v 505K prior, Continuing claims: 5.565Me v 5.611M prior
- 10 :00 (US) Nov Final U of Michigan confidence: 67.0e v 66.0 prior
- 10:00 (US) Oct New Home Sales: 404Ke v 402K prior, M/M: 0.4%e v -3.6% prior
- 10:00 (MX) Mexico Q3 Current Account: -$2.4Be v $454M prior
- 15:30 (MX) Mexico Q3 GDP Y/Y: -3.7%e v -7.6% 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."

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

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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