User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday April 30, 2010 - 10:17:29 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

European Market Update: Optimism rising on Greek aid package

Friday, April 30, 2010 5:55:00 AM

 European Market Update: Optimism rising on Greek aid package

 

*** ECONOMIC DATA ***
- (FI) Finland Feb Final Trade Balance: -€70M v -€40M prior
- (FR) France Mar Producer Prices M/M: 0.6% v 0.6%e; Y/Y: 2.0% v 1.9%e
- (HU) Hungary Mar Producer Prices M/M: -0.2% v 0.9% prior; Y/Y: -3.5% v -3.6%e
- (SP) Spain Q1 Unemployment Rate: 20.05% v 19.8%e
- (TU) Turkey Mar Trade Balance (TRY): -5.0B v -3.9Be
- (NO) Norway Apr Unemployment Rate: 3.0% v 3.0%e
- (TH) Thailand Mar Current Account Balance: $1.7B v $1.7Be; Overall Trade Balance: $3.1B v $119M prior; Total Trade Balance: $1.1B v $452M prior
- (TH) Thailand Mar Manufacturing Production Y/Y: 32.6% v 26.0%e; Total Capacity utilization: 74.2% v 65.4% prior
- (TH) Thailand Mar Business Sentiment: 55.7 v 51.3 prior
- (NO) Norway Mar Credit indicator growth Y/Y: 3.9% v 4.2%e
- (IT) Italy Mar PPI M/M: 0.5% v 0.4%e; Y/Y: 1.7% v 1.5%e
- (SP) Spain Feb Current Account (EUR): -€6.6B v -6.5B prior
- (HK) Hong Kong Mar Gov't Budget (HKD): -21.1B v -0.9B prior
- (HK) Hong Kong Mar M3 Money Supply Y/Y: 9.8 v 10.7% prior
- (EU) Euro Zone Apr CPI Estimate Y/Y: 1.5% v 1.5%e
- (EU) Euro Zone Mar Unemployment Rate: 10.0% v 10.0%e

- (IC) Iceland Mar Final Trade Balance (ISK): 11.5B v 11.4B prior
- (IT) Italy Mar CPI (incl Tobacco)M/M: 0.4% v 0.2%e; Y/Y: 1.5% v 1.4%e
- (IT) Italy Mar CPI EU Harmonized M/M: 0.9% v 0.6%e; Y/Y: 1.6% v 1.4%e
- (SZ) Swiss Apr KOF Leading Indicator: 1.99 v 1.99e
- (GR) Greece Feb Retail Sales Y/Y: 4.5% v 8.3% prior

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
- Equities: European equities opened Friday mostly higher on hopes that a rescue plan for Greece could be revealed by as soon as this weekend, as evidenced by the sharp rally being seen in Greek banking shares. As of 5:50 EST, indices have moved off of their best levels, with the FTSE 100 index moving into negative territory. In US equities, S&P 500 Futures traded lower in Asia following a report in the Wall Street Journal that US federal prosecutors were conducting an early stage criminal probe of Goldman Sachs' mortgage trading activities. However, the WSJ said prosecutors had not determined whether they would bring charges in the case. Later, S&P 500 futures rebounded and traded into positive territory on the initial positive cues from European equities. The European corporate earnings session was headlined by UK bank Barclays, whose shares declined by more than 3% following its Q1 update.

In individual stocks: Metro AG [ MEO.GE] reported Net loss €36M v loss €36Me, Adj EBIT €136M v €128Me, Rev €15.5B v €15Be y/y: Confirms 2010 outlook with FY10 sales and FY10 Adj EBITDA above prior year || Total [FP.FR] reported Q1 Adj Net €2.3B v €2.4Be, Rev €37.6B v €35Be: growth in its upstream segment to continue. || Barclays [BARC.UK] Reported Q1 Net before op expenses £6.56B v £5.4B y/y. || Strabag [STR.AS] Reported FY09 Net profit €161M v €161Me, EBIT €283M v €271Me, Rev €12.6B v €13.74B: Confirms FY10 outlook of stable output volume and margins. || Rentokil [RTO.UK] Reported Q1 Pretax £30.4M v £21.6M y/y, Rev £607.3M v £626.7M y/y; targeting moderate growth in 2010. || Colt UK [COLT.UK]: Reported Q1 EBITDA €77.4M v €80Me, Rev €396M v €400Me; expect customer decision making to accelerate over the coming months, which in turn will reflect increasingly in our results in the second half of 2010 and 2011. || WPP Group [WPP.UK]: Reported Q1 Rev £2.08B v £2Be; Too early to say whether stabilization in Q1 and growth in Mar are sustainable. || Saipem [SPM.IT] won 3 Abu Dhabi Contracts valued at $3.5B

- Speakers: Portugal Main Opposition Party (PSD) stated that it would back austerity measures in Parliament and proposed measures to the Prime Minister to lower 2010 budget deficit to 7.3% of GDP from 8.3% target ***Irish Debt Agency (NTMA) Bond sale would be cancelled if market conditions remained adverse. The agency stated that it was not concerned if debt sale was cancelled as 60% of 2010 issuance had been completed ***German's Handelsblatt reporting that Germany might put pressure on banks to buy Greek bonds after joint EU/IMF bailout package for Greece has been made final.*** German Finance Min commented that there has been no talks about Greek bond restructuring and noted that Europe must act to prevent any danger of contagion. He reiterated that the law in Germany on Greece aid can be "wrapped up" within a week. No one was blocking banks to participate in effort and one cannot compare Greece situation to prior crisis in Argentina. Lastly he stated that he did not expect aid to Greece to hurt Germany's budget
*** ECB's Nowotny commented that it was wrong to expect Germany to curb its exports. On the peripherals he believed that Greece could turn around its situation but political will was a precondition. He reiterated the view that Portugal cannot be compared to Greece ***BoJ Gov Shirakawa commented that there was no need for further easing at the time as the effect of BOJ credit easing would intensify in coming period. He noted that Japan was moving towards end of deflation aided by the narrower output gap and that the gradual price rise in commodities would filter through to CPI. He stated that Japan should make efforts to reduce public debt when economy stabilized and watch if Greek debt issue would impact economy and markets. *** China Banking Chief commented that sovereign debt concerns were continuing to rise in Western countries. He reiterated that it was becoming more difficult to manage local inflationary pressures and that domestic banks were facing more uncertainties. He did take noted of rising risks in the property sector and local government financing. *** SNB Hildebrand stated that the central bank was acting decisively to prevent an excessive CHF rise but that the deflation danger in Switzerland had fallen. Market concerns over Eurozone debt posed considerable risk to SNB's inflation outlook but according to inflationary forecasts, policy can stay expansionary for now ***

- Currencies/Fixed Income: The likely imminent EU/IMF Greek aid package prompted rising risk appetite as the month of April came to a close which softened both the USD and JPY currencies against the major European and commodity pairs. Gold moved back above $1175 while NYMEX crude futures drifted back towards $86/barrel. The EUR/USD moved above the 1.33 handle as market participants expected full details of the Greek aid package to be released over the weekend. The implementation phase of European austerity measures likely to simmer with numerous Greek unions to protests against the government's to take place on May5th.


Geopolitical: In round three of UK televised electoral debate, a poll from Guardian/ICM shows that that Conservative Candidate Cameron was the winner. In fact 33% of those polled said Cameron won, 29% said Labour's Brown won and 27% said Liberal Democrat Clegg won. Prior polls the winner of the second debate was Cameron and Clegg won the first debate. According to Website Intrade.com, there is a 82% probability that the Conservatives could win next UK General Election. *** Despite higher than expected economic numbers from Thailand, the escalating political protests in the country have already hurt the GDP by 0.5% according to the Finance Minister. It could further impact the GDP by 1% if protests continue throughout 2010.

***Notes/Observations:
- European equities move into negative territory ahead of the NY morning
- Germany expects EU/IMF agreement with Greece to be reached this weekend; FT reported that Greece agreed to €24B austerity package
- EU's Barroso: China remains confident in the Euro currency

***Looking Ahead***
- US GDP data to be the focus
- 8:00 (SA) South Africa Mar Trade Balance (ZAR): -2.5Be v -5.7B prior
- 8:30 (CA) Canada Mar Industrial Product Price M/M: -0.1%e v 0.0% prior; Raw Material Price Index M/M: 1.0%e v 0.4% prior
- 8:30 (CA) Canada Feb Gross Domestic Product M/M: 0.3%e v 0.6% prior
- 8:30 (US) Q1 Advanced GDP Annualized Q/Q: 3.3%e v 5.6% prior; Personal Consumption: 3.3%e v 1.6% prior
- 8:30 (US) Q1 Advanced GDP Price Index: 0.9%e v 0.5% prior; Core PCE Q/Q: 0.5%e v 1.8% prior

- 8:30 (US) Q1 Employment Cost Index: 0.5%e v 0.5% prior
- 9:00 (CL) Chile Mar Unemployment Rate: 8.9%e v 8.5% prior
- 9:00 (BE) Belgium Q1 Preliminary GDP Q/Q: No est v 0.3% prior; Y/Y: No ext v -0.8% prior
- (BE) Belgium Mar Budget Balance YTD: No est v -4.8B prior
- 9:15 (US) Tsy Krueger on economic growth panel
- 9:30 (BR) Brazil Mar Nominal Budget Balance (BRL) -9.1Be v -13.3B prior; Primary Budget Balance: 5.0Be v 0.9B prior; Net Debt to GDP: 42.1%e v 42.1% prior
- 9:45 (US) Apr Chicago Purchasing Manager: 60.0e v 58.8 prior
- 9:55 (US) Apr Final University of Michigan: 71.0e v 69.5 prior
- 10:00 (US) Apr NAPM Milwaukee: No est v 62.0 prior
- 12:00 (CO) Colombia Mar Unemployment Rate: 13.0%e v 13.4% prior
- 15:00 (AR) Argentina Mar Construction Activity Y/Y: No est v 5.2% prior
- 15:30 (MX) Mexico Mar Budget balance YTD (MXN): No est v 22.9B prior
- (CO) Colombia Central Bank Interest Rate Decision: expected to maintain the Overnight lending Rate at 3.50%
- 21:00 (CH) China Apr PMI Manufacturing: 55.9e v 55.1 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 20 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales


Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.


  • POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing statistic.



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