User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday February 24, 2010 - 11:01:11 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

European Market Update: Session shrugs off risk aversion factors; German CSU legislator Michelbach: Aid to Greece is not legally possible; Hungary says to miss IMF approved deficit targets

Wednesday, February 24, 2010 5:57:23 AM

 European Market Update: Session shrugs off risk aversion factors; German CSU legislator Michelbach: Aid to Greece is not legally possible; Hungary says to miss IMF approved deficit targets

 

*** ECONOMIC DATA ***
- (GE) Germany Q4 Final GDP Q/Q: 0.0% v 0.0%e; Y/Y: -1.7% v -1.7%e; GDP WDA Y/Y -2.4% v -2.4%e
- (GE) Germany Q4 Final Private Consumption: -1.0% v -0.8%e; Government Spending: -0.6% v 0.0%e; Capital Investment: -0.7% v -1.3%e; Construction Investment: -0.5% v -2.0%e; Domestic Demand: -2.1% v -0.6%e; Imports: -1.8% v -0.5%e; Exports: 3.0% v 1.9%e
- (GE) Germany Mar GFK Consumer Confidence: 3.2 v 3.0e
(MA) Malaysia Q4 GDP y/y: 4.5% v 3.2%e; Annual GDP: -1.7% v -2.0%e
- (HU) Hungary Dec Retail Trade Y/Y: -7.4% v -7.5%e
- (CZ) Czech Feb Business Confidence: 4.1 v 1.6 prior; Consumer Confidence: -9.8 v -11.5 prior; Business & Confidence Index: 1.3 v -1.1% prior
- (AS) Austria Dec Industrial Production M/M: -0.8% v -1.3% prior; Y/Y: -4.6% v -4.7% prior
- (MA) Malaysia Jan CPI Y/Y: 1.3% v 1.5%e
- (NO) Norway Dec Unemployment rate: 3.3% v 3.3%e
- (IC) Iceland Feb CPI M/M: 1.1% v -0.3% prior; Y/Y: 7.3% v 6.6% prior
- (IT) Italy Dec Retail Sales M/M: 0.0% v 0.1%e; Y/Y: 0.7% v -0.9%e
- (HU) Hungary Central Bank Quarterly report: To miss IMF approved budget deficit target for both 2010 and 2011
- (SA) South Africa Jan CPI (all items) M/M; 0.3% v 0.4%e; Y/Y: 6.2% v 6.4%e
- (EU) Euro-Zone Dec Industrial New Orders M/M: 0.8% v -1.0%e; Y/Y: 9.5% v 7.6%e

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
- Equities: European equity markets inherited a mixed picture following Asian trade that saw significant losses with the conspicuous absence of mainlined Chinese bourses. Core European bourses opened bid, however, taking strength from a mixed, but positively biased earnings releases in the premarket. French names Accor [AC.FR] and Vallourec [VK.FR] rotated higher following final FY09 numbers, along with German listed medical names Fresenious SE [FRE.GE] and Fresenius Medical [FME.GE]. Equity markets moved sharply lower after 4:00EST as commentary from German CSU (Bavarian branch of coalition party CDU) politicians appeared to once more throw cold water on an aid package for Greece. Markets surrendered positive territory and were led down by the DAX. After stabilizing, rotations have been upwards but into 5:30EST, only the FTSE has managed to move convincingly back into positive territory. Specific downside movers include Commerzbank [CBK.GE] following press speculation of a €3B 2010 capital raise and Wolseley [WOS.UK] which is rotating off its upward sprint yesterday. Declines in metals and minerals have depressed basic resource sector players while oil rolled over along with natural gas that continues a downward trend. Equities are on a two-session loss streak, trading on mixed, but light volumes.

In individual equities: CNP Assurances [CNP.FR]: Reports FY09 Net €1B v €998Me, Rev €32.6B v €34.2Be. || Accor [AC.FR]: Reports final FY09 Net loss €282M v €85Me. || Barratt [BDEV.UK]: Reports H1 Pretax loss £48.5M v loss £80.6M y/y, Rev £872M v £858Me. || Lafarge [LG.FR]: Announces asset swap; To expand presence in Brazil through CIMPOR swap. || Volvo [VOLVB.SW]: Reports Jan truck sales 9.4K v 10.2K y/y (-8% y/y). ||

- Speakers: German CSU legislator Michelbach commented that aid to Greece was not legally possible and added that Germany must make it clear that it was not paying for Greece. He stated that the Maastrict Stability pact must have sanctions.***World Bank Chief Economist Lin: East Asian nations unlikely to face sovereign risks *** Hong Kong Fin Sec Tsang: Government will react quickly to property speculation *** China Advisory Body stated that China was prudent on the yuan currency issues; Any change in the yuan fx rate would NOT be large and any revaluation would be a gradual process. Premier Wen's work report to address the yuan issues *** BoJ's Deputy Gov Yamaguchi stated that Japan's fiscal balance in severe state and that market participants are focused on Japan fiscal consolidation. He did note that markets have absorbed Japanese bonds smoothly. *** Hungary Central Bank released its quarterly report and noted that the country would miss its forecasted budget deficit targets for both 2010 and 2011 periods ( 2010 budget deficit at 4.2% of GDP against a 3.8% IMF target and 2011 budget forecasted at 4.3% v 2.8% IMF target). The Central bank added that it would need to take additional actions to reach targets***China State Council reiterated the gov't view that recovery fundamentals in some sectors remained uncertain and would take further measures to boost industry and promote consolidation***BOE's Posen commented that anyone betting on high UK inflation over next decade would lose money. He noted that movements in money base had little impact on inflation. He also stated that the BOE would consider additional QE if recovery stumbles ***ECB Bini Smaghi commented that policymakers must work together to reduce uncertainty. Monetary and fiscal measures have historically averted the crisis but would not alone end the crisis.

- Currencies: Several risk aversion headlines failed to provide the USD enough momentum to move beyond established ranges. The EUR/USD slightly firmer from its Asian opening levels with the pair probing the mid 1.35 area ahead of the NY morning. Sovereign concerns continued to simmer in Europe when a German lawmaker stated that aid to Greece was not legally possible. The central European issues also simmered after the Hungarian central bank noted that the country would miss the IMF approved deficit to GDP targets for both 2010 and 2011.

- Fixed Income: Supply has been well received today in Europe. The UK DMO's sale of £3B in 9 year Gilts was covered a very healthy 2.25 times while Portugal successfully sold €1B in 5s. Still no word from Greece on its impending 10y issuance but spreads versus Bunds are back at +335bps after a member of Germany's ruling collation stated that "Aid to Greece is not legally possible, Germany must make it clear that it is not paying for Greece". The UK yield curve has flattened post auction, with a reiteration from the BoE's Posen (more QE is still possible) providing a boost for the long end.

- Geopolitical: Opposition parties in Cote d'ivoire have indicated a willingness to cooperate with a newly formed government in an effort to break two weeks of protests. This week has seen the death of 7 protestors at the hands of the military as pressure has been raised against President Laurent Gbagbo. Cote d'ivorie is closely monitored due to its dominate global position in the production of coca (37% of global output). Political tension has added to an ongoing drought and infrastructure concern that is seen as threatening this year's crop. ***Nigeria's ailing, absentee President Umaru Yar'Adua has unexpectedly returned from a three month hospital stay in Saudi Arabia. Circumstances surrounding arrival remain unclear with reports that Yar'Adua was transferred from the plane to an unknown residence by ambulance following landing. Reminder, on Feb 10 the Nigeria National Assembly empowered then Vice Pres Goodluck Jonathan as acting President.

***Notes:
- German CSU legislator Michelbach: Aid to Greece is not legally possible
- Fed's Bernanke monetary policy report to House panel (Humphrey Hawkins)
- SEC considering new short sale restrictions.
- WSJ: Treasury to borrow $200B and leave it on deposit at the Fed making it easier to raise rates when the time comes.

***Looking Ahead:
- (BR) Brazil Jan Central Gov't Budget: No est v 1.7B prior
- 7:00 (US) MBA Mortgage Applications w/e Feb 25th: No est v -2.1% prior
- (PD) Poland central Bank interest rate decision: Consensus analyst expectations is for the base Rate to remain unchanged at 3.50%
- (BR) Brazil Jan Total Outstanding Loans (BRL): No est v 1.4T prior; Private Bank Lending: No est v 824B prior
- 10:00 (US) US Tsy Sec Geithner testifies to House Budget Committee on 2011 Spending
- 10:00 (US) Fed's Bernanke monetary policy report to House panel (Humphrey Hawkins)
- 10:00 (MX) Mexico Q4 GDP Y/Y: 1.1%e v -3.3% prior
- 10:00 (US) Jan New Home Sales: 353Ke v 342K prior
- 10:30 (US) DoE Weekly Inventories: Crude:+2Me; Gasoline: +500Ke; Distillate: -1.7Me; Utilization: 80%e
- 12:00 (FR) France Jan Total Jobseekers: No est v 2.6M prior; Net Change Job Seekers: 10.0Ke v -18.7K prior
- 12:00 (CA) Canada to sell C$400M 30-year real return bonds
- 12:30 (MX) Mexico to sell notes and bonds
- 12:30 (UR) Ukraine to sell 43-year bonds
- 13:00 (US) US Treasury to sell $42B in 5-year notes
- 14:00 (EU) ECB's Bini Smaghi
- 14:00 (AR) Argentina Jan Shop Center Sales Y/Y: No est v 17.3% 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 16 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 16 Oct
01:30 CN- CPI
21:45 NZ- CPI
Tue 17 Oct
08:30 GB- CPI
09:00 DE- ZEW Survey
09:00 EZ- Final HICP
Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



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