User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday May 7, 2010 - 10:00:59 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

European Market Update: UK election results confirms hung Parliament; G7 confirms teleconference call later today to tackle spreading debt crisis (Trade the News)

Friday, May 07, 2010 5:51:18 AM

 European Market Update: UK election results confirms hung Parliament; G7 confirms teleconference call later today to tackle spreading debt crisis

 

***Economic Data***
- (SZ) Swiss Apr Unemployment Rate: % v 4.1%e; Unemployment Rate Seasonally Adj: % v 4.1%e
- (FI) Finland Feb GDP Indicator: -0.7% v -0.2% prior
- (FR) France Mar Trade Balance: -€4.7B v -€3.4Be; Central Gov't balance: -€28.9B v -€21.8B prior
- (CZ) Czech Mar Trade balance (CZK): 18.3BB v 20.0Be
- (CZ) Czech Mar Industrial Output Y/Y: 10.2% v 8.1%e; Construction Output Y/Y: -18.3% v -23.6% prior
- (CZ) Czech Mar Retail Sales Y/Y: 3.9% v 0.0%e
- (SZ) Swiss Mar Retail Sales Y/Y: 4.5% v 2.8%e
- (SW) Sweden Mar Industrial Production M/M: 4.0% v -0.8% prior; Y/Y: 6.7% v 0.7%e
- (SW) Sweden Mar Industrial Orders M/M: 4.2% v -0.9% prior; Y/Y: 24.0% v 12.5% prior
- (SW) Sweden Apr Trade Balance (SEK): 29.8B v 4.4B prior
- (DE) Denmark Mar Industrial Production M/M: 0.1% v 2.5% prior; Industrial Orders M/M: %v -6.3% prior
- (AS) Austria Apr Wholesale Price Index M/M: 1.8% v 0.8% prior; Y/Y: 4.8% v 3.1% prior
- (UK) Apr New Car registrations Y/Y: 11.5% v 26.6% prior
- (UK) Q1 England and Wales Individual Insolvencies: 35.7K v 35.6K q/q
- (UK) Apr Halifax House Price M/M: -0.1% v 0.5%e; 3M/Y: 6.6% v 7.0%e
- (TT) Taiwan Apr Total trade Balance: $2.2B v $1.2Be; Total Exports Y/Y: 47.8% v 52.7%e; Total Imports Y/Y: 52.6% v 70.4%e
- (NO) Norway Mar Industrial Production M/M: -1.8% v -0.5% prior; Y/Y: -5.0% v -6.2% prior
- (NO) Norway Mar Industrial Prod Manufacturing M/M: 0.4% v 0.5%e; Y/Y: 1.6% v 1.3%e
- (UK) Apr PPI Input M/M: 0.6% v 1.0%e; Y/Y: 13.1% v 13.1%e
- (UK) Apr PPI Output M/M: 1.4% v 0.5%e; Y/Y: 5.7% v 4.8%e ; highest reading since Oct 2008
- (UK) Apr PPI Output Core M/M: 1.1% v 0.3%e; Y/Y: 4.4% v 3.5%e

- (IC) Iceland Apr Preliminary trade Balance (ISK): 6.3B v 11.5B prior
- (GR) Greece Apr Consumer price index Y/Y: 4.8% v 3.9% prior; EU Harmonized Y/Y: 4.7% v 3.9% prior

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
- Equities: Following the sharp declines seen in Asian and US equity trading, European indices opened the session to the downside, led by declines in Spain, Portugal, France and Greek as bond spreads widened. Also, the FTSE 100 opened the session lower as the
UK is nearing a hung parliament. In early trading the French banking as they have started to disclosed their exposures to the peripheral EU economies. At the open shares of SocGen were off by more than 5%. Other including losers included Germany's BASF, on reports that the company might bid for chemical firm Cognis. Also, Munich Re opened lower following its Q1 earnings on concerns about the company's outlook and RBS opened down by more than 6% after its trading statement. As the equity session progressed, equities moved off of the lows, following HSBC's Q1 trading update, comments from Moody's on Italy and rumors of a possible ECB conference call with local banks. As of 5:30 EST, equity markets remained in negative territory ahead of Friday's G7 finance ministers conference call, German vote on the Greek aid package and US payrolls.

- In Individual Stocks: Aurubia [NDA.GE]: Reports H1 Net €119M v loss €53M y/y, pretax profit €167M v loss €59My/y , Rev €4.54B v €3.03B y/y || Belgacom [BELG.BE]: Reports Q1 Net €638M v €622Me, EBITDA €931M v €935Me, Rev €1.64B v €1.6Be || Rheinmetall AG [RHM.GE]: Reports Q1 Net €19M v €16Me, EBIT €39M v €35Me, Rev €800M v €823Me || Tognum [TGM.GE]: Reports Q1 adj Net €22.3M, Rev €509.4M v €560Me; Confirms 2010 outlook of Rev €2.3-3.5B || Royal Bank of Scotland [RBS.UK]: Reports Q1 Net loss £248M v loss £800Me; Op profit £713M v £1.3B y/y; Total Rev £8.95B v £7.5Be || Munich Re [MUV2.GE]: Reports Q1 Net Profit €482M v €416Me, Op Profit €770M v €708Me, Rev €10.63B v €10Be || Italcementi [IT.IT]: Reports Q1 EBITDA €135.7M,-28.2% y/y, Rev €1.07B, -10.7% y/y || ITV [ITV.UK]: Issues trading update; Reports Q1 Rev £450M v £425M y/y || HSBC [HSBA.UK] Provides interim statement: Notes very good Q1 performance and well ahead of Q1 2009; global banking and markets saw slightly lower trading activity after Q1

- Speakers: Japan's Vice Fin Min Tamaki commented that the Greek crisis had moved beyond the EU borders; G7 conference call unlikely tto result in currency intervention
***German Fin Min Schaeuble commend as the lower house debated the Greek aid program that Germany must defend common European currency. He noted that every other alternative for Greek aid package would be more costly to German taxpayers *** Bank of
Spain (BOP) Guided Q1 GDP +0.1% y/y *** China Housing Minister commented that an overly fast property price increase could lead to social problems and such growth has curbed in some cities. *** G7 Finance minister and central bankers to signal support for Portugal and Spain in teleconference - WSJ *** Monetary Authority of Singapore (MAS) commented that it would closely monitor global developments; to take appropriate actions where needed ***Moody's Official commented that he did not see a sovereign rating cut for Portugal ***S&P European Credit Chief stated that market sentiment towards a country could lead to vicious circle when assessing sovereign ratings. The markets could send wrong signals, but increase in refinancing costs could have impact on credit quality ***Italy Cabinet approved Greek aid package

- Currencies/Fixed Income: Extreme volatility continued into the European session but unlike the levels experienced in the latter part of Thursday's NY session. The liquidating mood that characterized the
US afternoon moved towards a more sense of calm as markets looked towards central bankers to re-establish order. EUR/USD rebounded from 1.2630 European lows amid speculation that the ECB wouldl hold a conference call with 47 of the largest banks in Europe to stabilize the money markets. Other chatter circulated that the swap lines with central banks might be reinstated. Analyst believe that the ECB seeks to stress there sufficient liquidity conditions. Dealers note that the overall euro problems will not simply disappear and would any central bank intervention as a means to re-establish shorts. The GBP was volatile as the election results trickled in. The confirmation of a hung Parliament couple with Moody comments that fiscal consolidation must begin right away sent the GBP/USD down 250 pips from session highs to test fresh one-year lows below 1.4495 level before stabilizing. The USD/JPY held steady above the 92 handle for the bulk of the morning.

- Geopolitical:
UK Elections: Final voting results have swayed in favour for the Conservative party, though unable to acquire the necessary 326 seats to gain Parliamentary majority. As of 1030BST the polls reported Conservatives claiming 291 seats with 617 seats reporting results. BBC forecasts indicate that they will end the general elections with 306 seats. The shift in momentum for the Tories began with initial voting results from northern England, which has traditionally voted Labour. Similar scenarios occurred through other regions including various parts of central and southern England. Reportedly, the prospects of a Labour loss has led to a possibility of a coalition between Labour and Liberal Democrats, however, the votes generated by Liberal Democrats were not as high as previously forecasted. It still remains to be seen which party will be able to form a government. *** Euro region government officials to meet in Brussels today to discuss various debt crisis concerns, including finalising Greek aid plan and discussing preemptive measures to avoid future crisis.

-
Greece passes austerity package. The legislation passed by 172 votes to 121 in the 300-member chamber vote ***In Germany the biggest test for Merkel's government will come from the German electorate. In fact, North Rhine-Westphaila, Germany's most populous state, is to hold elections Sunday 9th May. Recent media polls point to a decline in support for Chancellor Merkel and the CDU. Alternatively, the opposition party SPU has increased in recent polling figures.*** In Australia the mining industry will start a week-long campaign to block the 40% super-profit tax. Opposition leader Abbot also intends to block the tax but PM Rudd reiterated during the session that the tax was appropriate.

***Notes/Observations:
- Incredible price action across all asset classes.
- G7 wants to have a conference call re
Greece. WSJ reports that G7 Finance minister and central bankers to signal support for Portugal and Spain in teleconference
- UK: According to poll results reportedly, UK Conservative Leader Cameron will not win a majority
- Overall sentiment remains that markets will continue to push until they have a reason not to.

***Looking Ahead***
- 7:00 (CA) Canada Apr Net Change in Employment: 25.0Ke v 19.9K prior; Unemployment rate: 8.2%e v 8.2% prior
- 8:00 (BR) Brazil Apr IBGE Inflation M/M: 0.6%e v 0.5% prior; Y/Y: 5.2%e v 5.2% prior
- 8:00 (CL) Chile Apr CPI M/M: 0.6%e v 0.1% prior; Y/Y: 1.0%e v 0.3% prior; CPI Ex-perishables: 0.4%e v 0.1% prior
- 8:30 (CL) Chile Apr Trade Balance: $1.3Be v 1.4B prior; Total Exports: No est v $5.5B prior; Total Imports: No est v $4.1B prior
- 8:30 (US) Apr Change in NonFarm Payrolls: 190Ke v 162K prior; Change in Private Payrolls: 100Ke v 123K prior; Change in Manufacturing Payrolls: 20Ke v 17K prior
- 8:30 (US) Apr Unemployment Rate: 9.7%e v 9.7% prior

- 8:30 (US) Apr Average Hourly Earnings M/M: 0.1%e v -0.1% prior; Average Weekly Hours: 34.1e v 34.0 prior
- 10:00 (MX) Mexico Apr Consumer Prices M/M: -0.2%e v 0.7% prior; Y/Y: 4.4%e v 5.0% prior; CPI Core M/M: 0.1%e v 0.4% prior
- 10:30 (US) Treasury's Krueger on US employment
- 12:30 (US) Fed's Plosser
- 13:00 (EU) EU Leaders hold Summit on Greece aid package
- 13:15 (US) Former Fed Chaiman Greenspan
- 15:00 (US) Mar Consumer Credit: -$3.9Be v -11.5B 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 15 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Thu 14 Dec
23:50 JP- Tankan Survey

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --23:50-- JP- Tankan Survey
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