User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday January 20, 2010 - 11:05:23 GMT
Trade the News Staff -

Share This Story:
| | Email

European Market Update: Risk aversion from both Asian and European factors aiding USD and weighing upon equity sentiment

Wednesday, January 20, 2010 5:59:17 AM

 European Market Update: Risk aversion from both Asian and European factors aiding USD and weighing upon equity sentiment


- (JP) Japan Cabinet Monthly Economic Report: Leaves economic assessment unchanged (6th straight month)
- (GE) Germany Dec Producer Prices M/M: -0.1% v 0.2%e; Y/Y: -5.2% v -5.1%e
- (JP) Japan Dec Convenience Store Sale Sales Y/Y: -5.5% v -6.3% prior
- (TT) Taiwan Dec Export Orders: 52.6% v 49.6%e
- (MA) Malaysia Dec CPI Y/Y: 1.1% v 1.0%e
- (IT) Italy Nov Industrial Orders M/M: 2.6% v 0.4%e; Y/Y: 0.0% v -8.7%e
- (IT) Italy Nov Industrial Sales M/M: 1.5% v -1.6% prior; Y/Y: -8.9% v -18.4% prior
- (UK) BOE Minutes: Voted 9-0 to maintain interest rates and Quantitative easing measures at current levels
- (UK) Dec Claimant Count: 5.0%% v 5.0%e; Jobless Claims Change: -15.2KK v -4.6Ke
- (UK) Nov Avg Earning (incl bonus) 3M/Y: 1.6% v 1.6%e; Ex bonus 3M/Y: 1.6% v 1.7%e
- (UK) Nov ILO Unemployment rate: 7.8% v 8.0%e
- (SA) South Africa Nov retail Sales Y/Y: -6.6% v -5.0%e
- (IT) Italy Nov Current Account: -€4.6B v -€3.3B prior

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM *** - Equities: Equity markets in Europe opened on a heavy theme following equity rotations in Asia. Asian markets, specifically China traded down sharply on further speculation regarding monetary tightening. This sentiment weighed on European banking shares throughout the morning session. Expectations ahead of a plethora of financial earnings from Bank of America [BAC], Morgan Stanley [MS], US Bancorp [USB] and State Street [STT] amongst others added to this sentiment. Despite blockbuster production figures from BHP Billiton [BHP.AU], specifically for iron ore, concerns out of China and USD strength sent the resource sector broadly lower. Fertilizer names, specifically potash names (K+S [SDF.GE]) moved significantly lower following a profit warning from Honk Kong listed Sinofert [297.HK]. Names that moved against the broader trend and traded higher have been highlighted by Merck Kga [MRK.GE] following reports that the firms Q4 figures may beat expectations. The broader tech sector has taken a lift from earnings from giant IBM [IBM] and European name ASML [ASML.NV]. Trading ranges have remained choppy through the session with a downside bias. Volumes have been in-line to light as markets prepare themselves for US corporate earnings.

-In individual equities: ASML [ASML.NV]: Reports Q4 Net €50M v €44Me, Rev €581M v €566Me. || Swatch [UHR.SZ]: Reports FY09 Rev CHF5.4B v CHF5.2Be (-6.3% y/y). || BHP [BHP.AU]: Q2 iron ore production a record 32.5M tons (+7.9% q/q, +11% y/y), Q2 copper production -12% y/y. ||

- Speakers: China's PBoC: To maintain "moderately loose" monetary policy (in effect since Nov 2008); seeking to avoid unusual lending swings this year*** ECB's Nowotny commented that FX consumer loans were extremely problematic and that banking in eastern Europe was not just an Austrian affair . Currency lending was a sensitive issue and that FX lending had been discussed with Hungary.Currency lending in Eastern Europe should be one of the first issues to address for new EU banking supervisor. He added that he saw better economic perspective for the region in 2010/11 period***ECB's Stark commented that several EMU banks still were dependent on support measures and noted that there remained signs of deteriorating credit quality. He reiterated view that banks need to recapitalize with no delays in action. Need consolidation in exit strategies for public finances. On the economic recovery he noted that H1 was likely to be weaker than H2 activity and the overall economic outlook remained uncertain. Slowdown was not seen as sign of double-dip recession but reiterated the central bank view that the recovery would be slow and uneven. Important to reduce internal imbalance in euro zone as the crisis reduced euro zone output potential. Greece must catch up on its homework, and the rules cannot be changed for Greece or any other country.*** ECB's Sramko commented that it would take up to three quarters to confirm if economic recovery was stable. He added that the ECB would will find the right moment to exit accommodation ***EU's Barroso stated that the Euro-zone economy is in delicate position and unemployment will continue to rise *** German Bundesbank commented that the events in Dubai and Greece highlight the risks to the economic outlook and that Global financial stability had yet to be assured. If Greece failed to sort its own issues, discussions of a 'bail out' would take on a dynamic all of their own. Would not make collateral concessions to Greece**Japanese Cabinet report noted that its economic recovery would continue on global growth and from its stimulus measures. The reported noted that currency rates, equity fluctuations did not present a risk at this time. Overseas economies, deflation and domestic employment situation are concerns for recovery

- Currencies: The USD and JPY benefited from risk aversion flows stemming from both Asia and European factors. China potential lending curbs weighed on the Equity sentiment while various officials continue to stress that Greece had to deal with its problems. The EUR/USD remained below its key 200-day moving average for the first time since May. Technical factors have some dealers seeing a potential retest of the pivot 1.38 neighborhood in the pair. The dormant CE4 carry trade issue was simmering again after ECB's Nowotny commented that FX consumer loans were extremely problematic and that banking in eastern Europe was not just an Austrian affair. The EUR/CHF cross was dealing in the mid 1.47 handle

- Fixed Income: Government bond prices are higher and yields lower amidst a backdrop of risk aversion, stemming from uncertainty over a clampdown on Chinese lending and continued concerns over Greece. Germany comfortably sold 5.9B in the first tap of the Dec 2011 schatz, in an auction covered 1.6 times and at an average yield of 1.16% .

- China Banking Regulatory Commission plan to impose stricter liquidityleverage on banks weighs on equities, supports USD. Shanghai composite declines by 3%.
- China state researcher CAAS: China may cut US treasury purchases.
- Japan supports collective pressure for CNY revaluation - Republican candidate Scott Brown takes the Massachusetts special US Senate election
- IBM earning beats and raises 2010 estimates.
- Boeing may cut 2000 jobs.

***Looking Ahead:
- (SP) Spain Nov Trade Balance: No est v -€3.9B prior
- (RU) Russia Dec Producer Prices M/M: -0.4%e v -0.5% prior; Y/Y: 13.2%e v 6.5% prior
- 7:00 (CA) Canada Dec Consumer Price Index M/M: -0.1%e v 0.5% prior; Y/Y: 1.6%e v 1.0% prior
- 7:00 (CA) Canada Dec CPI Core M/M: -0.2%e v 0.4% prior; Y/Y: 1.7%e v 1.5% prior
- 7:30 (BR) Brazil Current Account: -$3.6Be v -$3.3B prior; Foreign Investment: $4.1Be v $1.6B prior
- 8:30 (CA) Canada Nov Manufacturing Sales M/M: 0.7%e v 2.0% prior
- 8:30 (US) Dec Producer Price Index M/M: 0.0%e v 1.8% prior; PPI Ex Food&Energy M/M: 0.1%e v 0.5% prior
- 8:30 (US) Dec Housing Starts: 572Ke v 574K prior; Building Permits: 580Ke v 589K prior
- 9:00 (BE) Belgium Jan Consumer Confidence: No est v -15.0 prior
- 9:00 (PD) Poland Dec Budget Level: No est v -498.2M prior; Budget Level YTD: No est v -24.4B 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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 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