User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday April 19, 2010 - 09:46:49 GMT
Trade the News Staff -

Share This Story:
| | Email

European Market Update: Risk aversion sentiment builds in Session

Monday, April 19, 2010 5:40:23 AM

 European Market Update: Risk aversion sentiment builds in Session


- (PH) Philippines Mar Balance of Payments: $255M v -$125M prior
- (FI) Finland Mar PPI M/M: 0.3% v 1.1% prior; Y/Y: 2.9% v 1.2% prior
- (SP) Spain Q1 House Price Index Q/Q: -1.3% v -0.5% prior; Y/Y: -4.5% v - 6.2% prior
- (SP) Spain Feb Industrial Orders NSA Y/Y: 7.4% v 0.7% prior; Service Sector Sales Y/Y: -0.9% v -4.1% prior
- (AS) Austria Feb Producer Price Index M/M: 0.5% v -0.2% prior; Y/Y: -0.7% v -1.3% prior
- (UK) Coucil of Mortage lenders (CML) UK March mortgage lending M/M: £11.5B v £9.3B prior; up 3% y/y.
- 5:00 (EU) ECB's Weber
- (EU) Euro Zone Feb Construction Output SA M/M: -3/3% v -0.9% prior; WDA Y/Y: -15.2% v -10.6% prior

- Equities: Equity markets in Europe opened on a heavy theme following losses in Asia and NY (Friday). Macro themes that pushed this lower rotation included spreading fallout of an SEC charge against Goldman Sachs [GS] and expanding clarification of Chinese PBOC actions to cut down on property market speculation. Despite these negative themes, and rising anger amongst European airlines, delivery firms and airport operators, the majority of pre-market information was positive. Philips [
PHIA.NV] delivered strong Q1 earnings on both the net and gross side. Philips showed volume increases in all business sectors and stated that the recovery in activity seen in Q1 is expected to roll over into Q2. Earnings from global logistics and shipper Kuehn & Nagel [KNIN.SZ] were also surprisingly positive. The firm stated that following Q1 results in its bulk shipping unit, it expected to return to growth in FY10. On the open, financials (despite a positive call from Nomura), airlines and commodities gave back ground. Sentiment appeared to approve through 4:30EST, but speculation regarding a widening of SEC investigations, and the slow march of Greek/German bond spreads through new post-EU highs again sent markets lower. The negative rotation has not been spectacular, with markets trading down between -0.60-0.90%. Volume levels, however, have picked up markedly as traders have turned interest to airline and financial sector names, pushing the rotation lower. Earnings from troubled US financial giant Citigroup [C] are expected in the NY morning.

- Individual equities: Philips [PHIA.NV]: Reports Q1 Net €201M v €110Me, Rev €5.68B v €5.3Be. || Kuehn & Nagel [KNIN.SZ]: Reports Q1 Net CHF131M v CHF127Me, Rev CHF4.6B v CHF4.4Be. || Axa Asia [
AXA.AU]: (AU) Australia ACCC clears AMP bid for firm; to oppose NAB-AXA offer on competition concerns. || SeaDrill [SDRL.NO]: Completes 12.5M shrs in private placement operations (apprx 3% of shrs outstanding). || Tui Travel [TT.UK]: Provides update re volcano and air conditions: Estimated cumulative cost up to and including April 18 is approx £20M. || Arriva [ARI.UK]: Deutsche Bahn planning $2.6B offer for the company - Sunday Times. ||

- Speakers: EU's Junker commented that the
Greece aid program to be on common EU/ECB/IMF terms and would discuss possibility of further austerity measures. He reiterated that the Euro zone would be ready with aid if it is requested from Greece *** Council of Mortage lenders (CML) stated that it expected a gentle improvement in market conditions later in the year due to gradual improving economic backdrop and low interest rates . it did noted that lending for the first three months of 2010 was the smallest amount of lending in a decade *** Germany's Fin Min official commented that Germany's regulator BaFin was in contact with SEC over Co. and that the BaFin regulator to decide on legal steps regarding Goldman Sachs. The Fin Min official saw no reason to blacklist Goldman Sachs ***Goldman Sachs [GS] commented that the security probe had no broader ramifications for CDOs markets and reiterated that the SEC allegations were "completely unfounded". It did note that the SEC investigation focused on a single 2007 transaction and that SEC had been examining CDO market for the past 18 months *** German Econ Min Bruederle commented that the Iceland volcanic ash crisis was threatening Germany's economic recovery. The Volcanic plume threatened the country's logistics chain and was to call for Industrial summit later today with German companies *** Fitch Revised Thailand's local currency rating outlook to negative from stable but affirmed the country's sovereign ratings at "A-". The outlook change on Thailand's Long-term local currency rating reflected an escalation in political uncertainty, coupled with a slow economic recovery and a deteriorating policy environment. However, Thailand's strong external financial position continued to support sovereign creditworthiness in foreign-currency terms *** Germany's BDI industry association forecasted that the country's 2010 GDP growth could hit 2%. It noted that conditions on growth depended that no economic deterioration ensued coupled with stable energy and raw material prices. ***

- Currencies/Fixed Income: Numerous factor contributed to the risk aversion sentiment and aided the USD and JPY currencies on a firmer footing relative to European and commodity pairs. Recent measures announced by
China to cool off its property market and the Goldman Sachs fraud case seemed to be the excuse the markets have lynched on to curb the euphoria in the global equity rally. The travel disruption in Europe from the Icelandic volcano and ongoing concerns about Greece added to the risk aversion flows in Europe. The spread between 10-year Portuguese and German bonds nearing 150 bps while the Spread between 10-year Greek/German bonds continue to widen to all-time post Euro launch levels; nearing 470bps. The Euro zone yield spreads were widening again as the IMF meeting in Athens was delayed due to the air traffic disruptions over Europe. Concerns were that the disruptions would hit the fragile economic recovery and push up government deficits even further. EUR/USD tested 1.3435 ahead of the NY morning while GBP/USD tested 1.5200. The USD/JPY holding below the 92 handle.

- Geo-political: To the increasing chagrin of airlines, large blocks of air space, including the entire
UK remain closed to travel. Volcanic ash from Iceland continues to paralyze air traffic in Europe with rail lines operating at full capacity (though limited by on-going strikes in France). BA, Lufthansa and Air France all held experimental flights over the weekend and have begun to strongly push for a relaxation of the current travel ban. *** Fallout from last Thursday's UK televised election debate continues as the most recent report from Yougov gives the Lib Dems 33% support to Conservative 32% and Labour 26%. Labour has furthered its courting process of the LibDems while the Conservatives have stepped up attacks. The possibility of current LibDem support carrying over to electoral success still waits to be seen. *** In what could lead to further challenges to a potential EU membership bid for Turkey, Dervis Eroglu, seen as a hard line Turkish Cypriot, has carried a key leadership vote over the weekend. Eroglu has attempted to play down such fears, committing himself to further talks leading to unification of the islands two half's. Despite such a pledge, Eroglu still stands opposed to the current unification plan that would call for a federal structure in which the two states would answer to a central government, Eroglu has continuously pushed for retained sovereignty in any agreement.

- In The papers: London Telegraph's Ambrose Evans-Pritchard article noted that Portugal posed a greater threat to EMU than Greece and unlike Greece, Portugal did not cheat to get into EMU and has been more frugal on spending, but has still not been rewarded. Citing
Brussels statement suggesting Portugal indebtedness is attributable to access to easy credit reducing savings rate and igniting consumption. According to Commission estimates, Portugal's public debt will be 86% of 2010 GDP vs 124% for Greece, but also points to weak prospects of recovery for nation's exporters. Says it is different to expect a country to be more frugal when there has been no boom than to do so after a period of strong growth. Notes the country may have to do so under EU pressure, operating with a minority govt led by Socialist premier Socrates and with no safety net of a bailout by reluctant Germany and undercapitalized IMF.

- Icelandic volcano having potential economic impact on
- European Airline disruption delays IMF-Greek meeting by two-days
- Spread on Greek/German Gov't bonds widen towards 470 bps; post Euro currency record

***Looking Ahead***
- 8:00 (PD) Poland Avg Gross Wages M/M: 3.9%e v 1.8% prior; Y/Y: 2.8%e v 2.9% prior
- 8:00 (PD) Poland Mar Employment M/M: -0.1%e v -0.2% prior; Y/Y: -0.7%e v 1.1% prior
- 8:30 (CA) Canada Feb Int'l Securities Transactions: C$9.0Be v C$11.8B prior
- 9:00 (US) Fed's Bernanke and Evans on financial literacy
- 9:20 (BE) Belgium Jan Trade Balance: No est v -€1.3B prior
- 10:00 US Mar Leading Indicators:1.0%e v 0.1% prior
- 11:00 (EU) ECB's Trumpel-Gugerell
- 13:00 (EU) ECB's Papdemos
- 16:00 (US) Fed's Duke
- (AR) Argentina Apr Consumer Confidence: No est v 41.38



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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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