User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday March 2, 2010 - 10:59:29 GMT
Trade the News Staff -

Share This Story:
| | Email

European Market Update: New Greece measures expected on Wednesday; Euro tested fresh nine-month lows as Greek unions continue to protest austerity measures

Tuesday, March 02, 2010 5:50:42 AM

 European Market Update: New Greece measures expected on Wednesday; Euro tested fresh nine-month lows as Greek unions continue to protest austerity measures


- (IN) India Trade Balance: -$10.3B v -$10.2B prior; Exports Y/Y: 11.5% v 9.3% prior; Imports Y/Y: 35.5% v 27.2% prior
- (SZ) Swiss Q4 GDP Q/Q: 0.7% v 0.4%e; Y/Y: +0.6% v -0.5%e
- (BR) Brazil Feb FIPE CPI: 0.7% v 0.7%e
- (SP) Spain Feb Unemployment: 82.1KK v 62.2Ke
- (SA) South Africa Feb Naamsa Vehicle Sales Y/Y: 16.2% v 12.0% prior
- (PD) Poland Q4 GDP Y/Y: 3.1% v 3.0%e
- (UK) Feb PMI Construction: 48.5 v 48.9e
- (EU) Euro-Zone Feb
CPI Estimate: 0.9% v 0.9%e
- (EU) Euro-Zone Jan PPI M/M: 0.7% v 0.6%e; Y/Y: -1.0% v -1.1%e
- (IT) Italy Feb Preliminary
CPI (incl Tobacco) M/M: 0.1% v 0.2%e; Y/Y: 1.2% v 1.3%e
- (IT) Italy Feb Preliminary
CPI EU Harmonized M/M: 0.0% v 0.2%e; Y/Y: 1.1% v 1.3%e

- Equities: European equity markets have put in a mixed morning session with initial strength surrendered, only to be recovered all within 60min of trading. Positive sentiment from US and Asian trading set the theme for today's open as earnings season in
Europe has begun to tail off. Commodity names have remained in focus following further supply fears from Chile (which was struck by a further 6.6 magnitude aftershock). Analyst at Morgan Stanley boosted iron ore and coaking coal contract price expectations while Moody's revised its outlook on European steel, all of which combined to boost the sector. Shares of HSBC [HSBA.UK] bounced off yesterday's losses and lower rotation in Hong Kong trading. With the kick off of the Geneva auto-show, auto's have been in focus ahead of expected US Feb sale figures. Commentary from European auto makers has been supportive with BMW [BMW.GE], VW [VOW.GE], Peugeot [UG.FR] and Renault [RNO.FR] all trading higher. Data has been supportive throughout the session with strong GDP reads from Switzerland and Poland that have at least temporarily shaken off fears seen yesterday when Sweden slipped back into recession. Trading volumes are off last week's highs as equities attempt to print three consecutive sessions of gains.

Individual equities: Fresnillo [FRES.UK]: Reports prelim FY09 Rev $849.9M v $862Me. || John Wood Group [WG.UK]: Reports FY09 Net $164.2M v $205Me, Rev $4.93B v $4.8Be. || CRH [CRH]: Reports FY09 Net €592M v €611Me, Rev €17.37B v €18Be. || Allied Irish Bank [ALBK.IR]: Reports FY09 loss €2.33B v loss €2.8Be, Rev €4.86B v €4.3Be. ||

- Speakers: Poland Central Bank Hausner stated that expected 'tough' environment in 2010 due to fading impact of stimulus measures coupled with rising job losses. The official noted that a spending cap was not enough to curb the Polish deficit ans the government might consider raising taxes *** China Foreign Affairs official Zhao Qizheng commented that the US bears responsibility for regression of relations with China *** Japan Lower House of Diet approved FY10/11 budget of ¥92.3T. The bill still needs to be presented to Upper House but approval is typically automatic. *** PIMCO's El-Erian: Everyone needs to recognize sovereign balance sheets are a concern this year *** IATA reported Jan International Air Passenger Traffic was up 6.4% y/y *** Greece Debt Agency Chief Christodoulou commented that was not under pressure to issue bonds in the near term and would sell when conditions are better *** EU Financial Services Commissioner Barnier stated that it would investigate trades in sovereign credit default swaps (CDS)

- Currencies: European peripheral concerns continue to be the critical issue for the direction of currencies. The EUR/USD posted fresh 9-month lows below 1.3450 following comment s that the Greek civil servants union ADEDY would stage a 24-hour strike in the middle of the month to protest against the new measures. This continues the highlight the social implications that the fiscal tightening would face as dealers took notice of earlier comments from EU Monetary Affairs Commissioner Rehn. The EU noted that
Greece must reveal new measures in the coming days to allay officials concerns that the current austerity plan falls short. There is speculation that Greece will unveil fresh measures on Wednesday ahead of the pivotal Greek/German meeting on March 5th. The EUR/USD recovering back above the .135 level ahead of the NY morning. ***The GBP was off its worst level as fiscal and political concerns continued to weigh on its trend. The latest opinion poll out in the UK shows conservatives lead back out to 6% lead compared to the 2% margin registered in a weekend poll. The concern over a potential Parliament saw the GBP test below 1.48 on Monday. The most recent poll had alleviated some of that concern for the time being.

- Fixed Income: The
UK yield curve has noticeably flattened during the session, with selling in the short end and bargain hunting in the long end and belly. In a vote of confidence for the economy, the DMO sold 2B in 4.25% 2039 Gilts with an above average bid-to-cover of 1.9 times. Yields in Germany are slightly higher across the curve with the benchmark 10y Bund yield holding above 3.11%. The peripherals complex is somewhat mixed with Greek 10s back below Bunds +300bps for the first time since mid Feb as expectations for a bailout grow stronger. Meanwhile Spanish 10s are 3bps wider at +73bps with supply expected later in the week.

- Geopolitical: European/South American diplomatic disputes kicked into another gear as a surprise announcement from a Spanish judge placed the country squarely in conflict with Hugo Chavez's
Venezuela. In a multipronged plot, it is alleged that the Venezuelan government provided support and collaboration with Colombian rebels (FARC) and Spanish separatists (ETA) to assassinate the Colombian President during a visit to Spain. Venezuelan-Colombian relations remain extremely hostile with Venezuela accusing the US of using Colombia as a staging ground for an invasion. *** US Deputy Sec of State James Steinberg has begun a trip to China in a move that has been broadly seen as a return to normalized relations between the US and China. The trip follows loud disputed regarding a US arms sale to Taiwan (ROC) and a meeting between the President and the Dalai Lama.

- Australia's Central Bank (RBA ) raises interest rates by another 25bps to 4.00%. States rates are below avg
- Fed's Plosser: Fed's Plosser: Fed should drop the "extended period" language as the US economic recovery has begun to solidify
- China exporters: CNY appreciation of maximum of 2.3% is 'bearable'
- Greek civil servants union to stage 24-hour strike during the middle of March in response to Government austerity plan
- Aftershocks over 6.0 continue to hit Chile

***Looking Ahead:
- 7:45 (US) ICSC Chain store sales
- 8:30 (SI) Singapore Feb Purchasing Manager Index: No est v 51.4 prior; Electric Sector Index: No est v 53.8 prior
- 8:55 (US) Redbook
- 9:00 (CA) Bank of Canada Interest Rate Decision: Expected to maintain interest rates at 0.25%
- 9:00 (IR) Irish Central Bank Gov Honohan
- 14:00 Fed's Kocherlakota
- 15:30 (MX) Mexico Jan Budget Balance YTD: No est v -274. 5 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