User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday February 10, 2010 - 11:16:02 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

European Market Update: German lawmakers asked to consider Greek aid beyond loan guarantees

Wednesday, February 10, 2010 5:53:06 AM

 European Market Update: German lawmakers asked to consider Greek aid beyond loan guarantees

 

*** ECONOMIC DATA ***
- (FI) Finland Dec Industrial Production M/M: 0.9% v 0.6%e; Y/Y: -5.9% v -5.0%e
- (FR) France Dec Industrial Production M/M: -0.1% v 0.5%e; Y/Y: -2.3% v -1.6%e
- (FR) France Dec Manufacturing Production M/M: -0.8% v 0.2%e; Y/Y: -2.0% v -0.8%e
- (FR) France Dec Current Account: -€3.6 v -€3.4B prior
- (SP) Spain Dec House Transactions Y/Y: -0.3% v -2.6% prior
- (DE) Denmark Jan CPI M/M: 0.3% v -0.3%e; Y/Y: 2.0% v 1.5%e
- (DE) Denmark Jan CPI EU Harmonized M/M:0.3 % v -0.2% prior; Y/Y: 1.9% v 1.2% prior
- (SW) Sweden Dec Industrial Production M/M: 1.8% v 0.5%e ; Y/Y: -5.8% v -7.8%e
- (SW) Sweden Dec Industrial Orders M/M: -1.1% v 2.4% prior; Y/Y: 8.0% v -1.5% prior
- (SW) Sweden Dec Activity Index: 100.5 v 100.5 prior
- (NO) Norway Jan CPI M/M: 0.2% v -0.2%e; Y/Y: 2.5% v 2.1%e
- (NO) Norway Jan CPI Underlying M/M: -0.6% v -0.6%e; Y/Y: 2.3% v 2.3%e
- (NO) Norway Jan Producer Prices M/M: 3.9% v -0.4% prior; Y/Y: 13.8% v 10.0% prior
- (SW) Sweden Jan AMV Unemployment Rate: 5.7% v 5.7%e
- (IT) Italy Dec Industrial Production M/M: -0.7% v 0.1%e; Y/Y: -2.3% v -4.0%e; Indust Prod WDA Y/Y: -5.6% v -4.9%e
- (UK) Dec Industrial Production M/M: 0.5% v 0.2%e; Y/Y: -3.6% v -4.1%e
- (UK) Dec Manufacturing Production M/M: 0.9% v 0.3%e; Y/Y: -1.9% v -3.0%e
- (PO) Portugal Jan CPI M/M: -0.5% v -0.4%e; Y/Y: 0.1% v 0.2%e
- (PO) Portugal Jan CPI EU Harmonized M/M: -0.6% v -0.4%; Y/Y: 0.1% v 0.3
- (UK) BOE Quarterly Inflation Report: Lowers GDP forecast and states inflation to undershoot the 2.0%
- (IR) Ireland Industrial Production M/M: -4.2% v -8.5% prior; Y/Y: -5.6% v -9.9% prior

*** SPEAKERS/FIXED INCOME/FX/C
OMMODITIES/ERRATUM ***
- In equities: European markets look ready to test a third consecutive session of gains. Trading in
Asia was broadly upside after a triple point rebound rally in the US on Tuesday. Equity strength in Europe continues to be driven by the financials. Rumor and speculation regarding an upcoming EU meeting on Thursday (Feb 11, 2010) has provided a sense of easing to the sovereign threat issue (wither this easing is justified is yet to be determined). Banks and Insurance names join a smaller positive rotation in mineral names following earning release from the sector giant BHP Billiton [BHP.AU]. Pre-market corporate reports in Europe have been mostly negative, with ArcellorMittal [MT.NV], stating that while volumes will grow into Q1, selling prices will continue to come under negative pressures. Euro steel names have been weaker. Cautious reports in the alt-energy sector from Vestas [VWS.DE] and REC [REC.NO] have pressured those sectors. European bourses pushed to session highs just into 5:00EST on continued vague speculation regarding support for Greece from Germany. Trading volumes have been mixed, but weighed to the high side with good turnover in financials, and earnings related sentiment.

In individual equities: Sanofi [SAN.FR]: Reports Q4 Net €1.79B (ex items) v €1.7Be, Rev €7.36B v €7.5Be, declares dividend at €2.40/shr v €2.2/shr y/y. || Peugeot [UG.FR]: Reports H2 Net loss €199M v €194Me, Rev €24.9B v €24.6Be; See recurring op prof in H1 2010. || ArcelorMittal [MT.NV]: Reports Q4 Net $1.07B v $619Me Rev $18.6B v $19.3Be. || Vestas [VWS.DE]: Reports FY Net €579M v €549Me, Rev €6.6B v €6.9Be. ||

- Speakers: German lawmakers were reportedly briefed by the German Finance Ministry to consider Greek aid beyond loan guarantees and consider the matter quickly. ***EU official commented that was considering all options in assistance for Greece, including credit guarantees, assistance may be led by the EU or individual nations
***Spain Fin Min Salgado stated that Spain was issuing more debt at this time to fight the crisis. She noted that the country's debt to GDP ratio was below Euro-Zone average. She conceded that
Spain's deficit was high but not the highest in the EU. Debt financing costs were currently lower for Spain than under previous gov't*** BOE Quarterly Inflation Report lowered its GDP forecast and stated inflation to undershoot the 2.0%. It saw Inflation peaking at 3.3% in Q1 2010 compared to 2.5% seen in Nov. The BOE noted that the increase was due to a sharp decline in GBP coupled VAT hikes. Inflation seen to trough at 0.9% in Q1 2011 (versus 1.1% prior). Credit conditions would ease gradually . - GDP growth path somewhat weaker than in Nov, but downside risks have receded. *** BoE's King commented that it was far too soon to conclude that no more Gilt purchases were needed. ***ECB's Mersch commented that consumer inflation risks have been dulled by a slow economy but cautioned that price stability forecasts could change quickly. He noted that providing liquidity in FX market incorporated moral hazard risk as it fueled investors risk appetite. ***ECB's Bini Smaghi commented in an Italian press interview that the Euro was withstanding its worst crisis. He added that Italy's debt continued to be very high and that it needed structural reforms. However he did note that Italy's deficit was within acceptable levels***German VDMA forecasted 2010 machinery output Y/Y flat compared to a decline of 8% in 2009 . It noted that 2009 Toolmakers saw their worst decline in orders since 1958. It also noted that firms were finding it harder to find needed business credit but not experiencing a credit crunch at this time*** EU official states that Greece will be discussed in tomorrow's meeting. The official noted that the situation in relation to Greece remained fluid

- Currencies: Market participants awaited further news and clarity on a potential
Greece bailout package. The European peripherals improved for a second session ahead of Thursday's meeting in Brussels to see if Greece assistance would be provided in having the government tackle its budget deficit. The EUR/USD moved above the 1.38 level in mid-morning after reports that the German lawmakers should consider Greek aid measures beyond loan guarantees. The BOE inflation report sent GBP lower after testing 1.5750 against the dollar.

- Fixed Income: Euro-zone peripheral bonds extend yesterdays short squeeze rally, spreads vs
Germany firm up significantly after press reports continue to point towards some form of German rescue for Greece. Greek 10s shed another 55bps to trade at +267bps
- Portuguese syndicated 10y said to be attracting good bidding with order twice the size of the intended €3B. Guidance revised from swaps+150bps to +140bps, pricing imminent
- Germany sold €4.2B in the third tap of the current 10y Bund, in a strong auction covered 1.7x
- Gilts go bid after the BoE's Quarterly inflation report downgrades UK growth and inflation forecasts, and Governor King concedes that it is "Far too soon to conclude that no more Gilt purchases are needed"

-Geo/political: Nigeria has moved to stem a growing power vacuum by using emergency powers in the constitution to appoint the Vice President, Goodluck Jonathan, as acting President. The crisis began last November, when the elected President Yar'adua fell ill and was flown to
Saudi Arabia for treatment. Prolonged absence (approx 90 days) was furthered by a lack of clear information on Yar'adua's status (or if he was even alive). Jonathan is seen as in line with his predecessor and will be tasked with quelling religious, economic and regional violence in the oil rich West African state. ***Iran is bracing for the 31st anniversary of the Islamic revolution tomorrow, Feb 11, 2010. Both sides have claimed to be preparing massive demonstrations of strength. The current regime, supported by the Basji has clearly labeled any dissent as motivation from international conspirators, setting the stage for a potential show down. ***China has sentenced Tan Zoren, a political activist who questioned the figures and response time of Chinese authorities following 2008 earthquakes in Sichuan to 5-years in prison. Tan was charged and found guilty of subversion. Official charges related to Tan's writing on the Tiananmen Square events of 1989, but have been widely linked to his earthquake comments. ***Federal offices in Washington DC continue to be closed (3rd straight day) due to unprecedented snow storms in the regions. Pundits have ironically latched on to the fact that a Senate Subcommittee Panel on climate warming and public health was postponed due to snow.

- In the papers: Asia Times Online reported that an explicit directive by the Chinese government has notified reserve managers to sell all risky US assets, including asset backed and corporates, and just hold on to explicitly guaranteed Treasuries and Agency debt. The article noted Dollar-denominated risk assets, including asset-backed securities and corporates, are no longer wanted at the State Administration of Foreign Exchange (
SAFE), nor at Chinas large commercial banks. The Chinese government has ordered its reserve managers to divest itself of riskier securities and hold only Treasuries and US agency debt with an implicit or explicit government guarantee. This already has been communicated to American securities dealers, according to market participants with direct knowledge of the events.

- Sovereign Situation: Fitch quarterly fixed income investor survey report noted that the sovereign outlook weighed upon the improving European investor sentiment. The report also showed European fixed income investors were more bearish on the prospects for sovereign debt than for any other asset class.

***Notes:
- German Lawmakers ask to consider Greek aid beyond loan guarantees
-
China Jan Trade Balance + $14.2B v +$19.5Be
-
Japan Dec machine orders M/M: +20.1% v+8.0%e
- Senate Republican whip Kyl sees no vote this week on possible economic stimulus bill.
- Fed Chair Bernanke's hearing before the House Panel is postponed due to weather. FT article note that the Fed chair will set out the central bank's exit strategy in written testimony
- Portugal plans €3.0B 10 yr bond issue; guidance at 140bp over swaps

***Looking Ahead:
- 7:00 (US) MBA Mortgage Applications w/e Feb 5th: No est v 21.0% prior
- 7:00 (IC) Iceland Jan Unemployment: No est v 8.2% prior
- 8:00 (HU) Hungary Central Bank minutes
- 8:30 (CA) Canada Dec Intl Merchandise Trade: -C$0.1Be v -C$0.3B prior
- 8:30 (US) Dec Trade Balance: -$35.8Be v -$36.4B prior
- 10:00 (UK) Jan NIESR GDP Estimate: No Est v 0.3% prior
- 10:00 (MX) Mexico Dec Final Trade Balance: No est v -$248M prior
- 10:30 (US) Weekly DOE Energy Inventories
- 12:00 (CA) Canada to sell 3-year notes
- 12:30 (MX) Mexico to sell 1, 2, 3 & 5-year bonds
- 13:00 (US) US Treasury to sell $25B in 10-year notes
- 14:00 (US) Jan Monthly Budget Statement: -$70Be v -$63.5B 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