User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday December 29, 2009 - 10:55:08 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

European Market Update: Spanish and Swedish retail sales data weaker than expectations

Tuesday, December 29, 2009 5:50:51 AM

 European Market Update: Spanish and Swedish retail sales data weaker than expectations

 

*** ECONOMIC DATA ***
- (SZ) Swiss UBS Consumption Indicator: 1.276 v 0.876 prior; highest level in 14 months
- (FR) French Q3 Final GDP Q/Q: 0.3% v 0.3%e; Y/Y: -2.3% v -2.4%e
- (SP) Spanish Nov Retail Sales (Real) Y/Y: -4.3% v -3.9% prior, Adjusted Real Retail Sales Y/Y: -5.5% v -2.6%e
- (IT) Italian Dec Retailers Confidence General: 96.9 v 101.8 prior, Business Confidence:82.6 v 79.7e; Services Survey: -3 v -2 prior
- (SW) Swedish Nov Retail Sales M/M: -0.6% v 0.6%e; Y/Y: 3.6% v 4.4%e
- (HK) Hong Kong No Retail Sales - Volume Y/Y: 9.8% v 6.4%e; Retail Sales Value Y/Y: 11.7% v 8.0%e
- (GE) German Dec CPI - Brandenburg M/M: 0.8% v -0.1% prior, Y/Y: 0.7% v 0.2% prior
- (GE) German Dec CPI - Hesse M/M: 0.8% v -0.1% prior, Y/Y: 0.8% v 0.3% prior
- (UK) BoE Q3 Housing Equity Withdrawal: -£4.9B v -£6.4Be
- (GE) German Dec CPI - North Rhine- Westphalia: 0.8% v -0.2% prior, Y/Y: 0.8% v 0.4% prior
- (BR) Brazil Dec FGV Inflation M/M: -0.3% v -0.2%e; Y/Y: -1.7% v -1.6%e; first annual drop since the data series started in 1989

*** SPEAKERS/FIXED INCOME/FX/C
OMMODITIES/ERRATUM ***
- Equities: -In equities: Coming off a 4-day holiday, London markets have rejoined Europe in trading today. Making up for yesterday's missed session, the FTSE100 gapped up on the open, setting new 2009 highs and erasing all losses posted following the collapse of Lehman Brothers in September 2008. Continuing the expected trend, themes, volumes and news flow has remained light ahead of the new year's holiday. Commodity gains, specifically in copper following the end of fears regarding Chilean industrial action moved related names higher (Vedanta [VED.UK], Lonmin [LMI.UK] etc). In M&A news/speculation, further
UK news sources have stated that RyanAir [RYA.UK] looks set to re-bid for AerLingus [AERL.UK] following the expiration of a 1-year no-bid lock up period. Miner Fresnillo [FRES.UK] upped the offer prices for Canadian based Canplats to C$4.80/share. As mentioned, trading volumes have remained thin with all bourses trading well below moving averages; in the first two hours of trade, volumes on the FTSE, CAC and DAX were all down approx 50%.

-Individual equities: BASF [BAS.GE]: CEO: Sees first signs of a recovery taking hold in chemical industry - Die Weit. || ING [INGA.NV]: To sell 50% stake in Pacific Antai to China Construction bank. || ArcelorMittal [MT.NV]: Subsidiary issues $750M privately placed mandatory convertible bond (approx 1% of market cap). || RyanAir [AERL.UK]: Ryanair could place a new bid for the company - Scotsman/Daily Mail. || Fresnillo [
FRES.UK]: Penmont submits revised proposal to acquire Canplats Resources Corporation for C$4.80/shr (C$4.40/share prior). ||

- Speakers: ECB's Mersch reiterated the central bank view that Euro-Zone 2010 growth outlook to be moderate and fragile ***Indian Dep Central Banker: Reiterated the RBI view that policy challenge was to address food supply constraints on broader price pressures. He noted that the perception that India might see surge in capital inflows and that the economic situation supported shifting its policy focus to managing growth and containing inflationary pressures ***South Korea Central Bank (BoK) minutes voted unanimously to hold interest rates steady at 2.00% back on Nov 11th. Some members noted that it was too early to call recovery in private sector and that an easing policy bias was still necessary for recovery to take hold *** India PM Econ Panel's Rangarajan commented that he expected current year capital inflows to reach $57B (in line with the Gov't expectations of inflows seen between $57-$60B) *** Italy Treasury stated that it received around €95B in tax amnesty funds with over 98% Of amnesty total repatriated to Italy *** Brazil Budget Min Bernardo stated that 2010 tax revenues could rise by 11%. He noted that the increase in minimum wage would not negatively affect its fiscal policies

- Currencies: The USD continued to consolidate its Dec gains against the European pairs despite the continued rise in the
US bond yields. As noted on Monday, dealer sentiment took notice that despite rising and widening yields, the dollar has stalled to garner additional strength from higher interest rate. Some mild stop hunts were elected as CFTC data noted that currency speculators have gone long the USD for the first time since May. The dollar was off its worst levels as the NY morning approached.

 - AUD/USD was firmer on chatter of a large fixing-related buy order rumored to be over A$500M.

-The USD/JPY probed towards the 92 handle as the US-Japan 10 year interest rate spread widened to hit a 2 year high. Dealers did note good buying interest from fund managers in the pair but the momentum was stymied by the emergence of Japanese export orders layered towards the 92 handle.

-CHF currency was firmer against the majors and aided by the Swiss consumption index hitting its highest levels in 14-months. EUR/CHF cross moving back towards pre-March intervention levels

- Fixed Income: Government bond yields have drifted higher in all three major markets this morning and despite thin volumes some interesting technical/psychological levels are being probed. Gilts have been the worst performer, with the benchmark 10y sailing through the 4% mark and hitting its highest yields of the year(Intraday day highs thus far stand at 4.075%) The Us 10y Note yield is up a basis point and testing the august peak of 3.85%, while the Bund is relatively unmoved at 3.35%. The short end of the curve has be hit hardest in Germany, in response to yesterdays auction and Fed term deposit induced flattening moves in UST's. German 2s10s has narrowed 5bps to 207bps while US 2s10s shed another 6bps to touch 278bps. European peripherals have firmed up against the core with risk appetite building in other asset classes.
Greece has led the way, -3bps at Bunds +236 while Spain has also traded well -2bps and below Bunds+70bps for the first time in two weeks.

- Energy: Russia and Ukraine reach an accord with regards to oil transits for 2010 ***CN
OOC [883.HK] Parent company to invest about CNY50B in Guangdong province projects in the next several years - China Securities Journal

- Commodities: India raised iron ore duty with new duties to apply to all grades of ore. Federation of Indian Mineral Industries Association stated that India's FY10 iron ore exports are likely to fall by 10M metric tons to around 96M tons following the government's move to levy a 5% export tax on iron ore fines

- In the papers: WSJ commented on the earlier move by the Fed to sell interest-bearing term deposits to banks The purpose of the new facility is to help ensure that the Fed can implement an exit strategy before liquidity in the banking system leads to inflation. The new facility will encourage banks to park cash reserves at the Fed as opposed to lending them out. According to JP Morgan economist Michael Feroli the move by the Fed is another step forward in the exit-infrastructure, but it is been well flagged in advanced, so the move is not a surprise. *** The WSJ looked at locomotive manufacturer China CNR [601299.CH] as the firm debuted with the smallest first day gain for any Shanghai IPO in 2009. Trading of the 2.5B share (some analysts had seen offering of up to 3B shares) offering failed to meet an expected 15%+ rise, closing up 2.3%.

- Geo-Political : Russian Dep Prime Min Sechin has stated that
Russia has moved into final stages of oil transit negotiations with Ukraine, and that shipments to Western Europe via Ukraine would be continued. Contract agreements with Belarus have yet to be finalized and Polish and German delivery have yet to be assured. Speaking on the issue, PM Putin reiterated that Ukraine continues to abuse its geographic role. Putin, speaking on Russian-US arms treaties, stated that US missile defense, and a lack of clarity of the new US program was the main hindrance to treaty completion. Putin noted that Russia would continue developing offensive weapons to maintain parity. Japan and India have inked a new bilateral security agreement that includes regular, ministry level meetings. The agreement comes as US-Japanese strategic relations remain strained following issues with Okinawa basing and PM Hatoyama's perceived new emphasis on Korean/Chinese interplay. Chinese officials have completed the planned execution of British national Akmal Shaikh following conviction of drug charges in 2007.

***Notes:
- German inflation data registering strong MoM gains, but remain well below the ECB's inflation target
- Spanish and Swedish retail sales data weaker than expectations
- Twenty-year anniversary of the all-time high of the Nikkei 225 Index at 38, 876
- WSJ: Fed proposes selling interest bearing term deposits to banks to drain extra cash.
- US/Japan 10 year bond spread widened to a 2 year high
-Russia and Ukraine reach an accord with regards to 2010 oil transits

***Looking Ahead:
- (GE) German Dec CPI - Baden Wuerttemburg M/M: % v -0.2% prior, Y/Y: % v 0.4% prior
- (GE) German Nov CPI M/M: 0.6%e v -0.1% prior, Y/Y: 0.7%e v 0.4% prior
- (GE) German Nov CPI- EU Harmonized M/M: 0.7%e v 0.3% prior, Y/Y: 0.7%e v 0.3% prior
- 7:30 (BR) Brazil Nov Total Outstanding Loans (BRL): No est v 1.4T prior; Private Bank Lending: No est v 807M prior
- 7:45 (US) ICSC/UBSW Chain Store Sales: No estimate v +-.6% prior
- 8:55 (US) Redbook Retail Sales: No estimate v 1.5% prior.
- 9:00 (US) Oct S&P/CaseShiller Home Price Index: 147.00e v 146.51 prior, S&P/CS Composite-20 YoY: -7.2%e v -9.36% prior
- 10:00 (US) Dec Consumer Confidence: 53.0e v 49.5 prior
- 13:00 (US) Treasury to sell $42B in 5 year notes
- 14:00 (AR) Argentina Nov Supermarket Sales Y/Y: No est v 5.1% prior; Shop Center Sales Y/Y: No est v 17.6% 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 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