User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 18, 2010 - 10:07:23 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

European Market Update: European equities pare gains after German ZEW data reflects EU debt concerns

Tuesday, May 18, 2010 6:05:17 AM

 European Market Update: European equities pare gains after German ZEW data reflects EU debt concerns

 

***Economic Data***
- (FR) France Q1 Wages Q/Q: 0.7% v 0.2% prior
- (FR) France Preliminary Q1 Non-Farm Payrolls Q/Q: -0.1% v -0.1% prior
- (HU) Hungary March Avg Gross Wages Y/Y: 9.4% v 1.6%e
- (SP) Spain March Industrial Orders NSA Y/Y: 12.0% v 7.4% prior
- (SW) Sweden April Average House Prices (SEK): 1.89B v 2.01M prior
- (AS) Austria April Consumer Price Index M/M: 0.3% v 1.1% prior; Y/Y:2.0 % v 2.0% prior
- (IT) Italy March Total Trade Balance: -€1.3B v -€2.3B prior; Trade Balance EU: -€139M v -€705M prior
- (NO) Norway April Trade Balance (NOK): 27.1B V 29.0B prior
- (UK) April CPI M/M: 0.6% v 0.4%e; Y/Y: 3.7% v 3.5%e; Core CPI Y/Y: 3.1% v 2.9%e
- (UK) April RPI M/M: 1.0% v 0.5%e; Y/Y 5.3% v 4.4%e; Y/Y Ex-mortgage 5.4% v 4.9%E
- (HK) Hong Kong April Unemployment Rate: 4.4% v 4.3%e
- (GE) Germany May ZEW Economic Sentiment: 45.8 v 47.0e; Current Situation Survey: -21.6 v -33.0e
- (EU) Euro Zone May ZEW Economic Sentiment: 37.6 v 38e
- (EU) Euro Zone April
CPI M/M: 0.5% v 0.4%e; Y/Y: 1.5% v 1.5%e: Core CPI Y/Y: 0.8% v 0.8%e
- (EU) EU March Trade Balance: €4.5B v €5.0Be; Trade Balance Seasonally Adj: €600M V €4.4Be

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***

- Equities: - European equities opened the session higher led by gains on Spain's IBEX and banking shares. Additionally, shares in the
UK on the FTSE 100 were supported by earnings reports from British Land and Vodafone. The gains in equities have coincided with the early narrowing in the EU peripheral bond spreads and reports that Greece will make the €8.5B bond payment which is due on May 19th. As of 5:40 EST, equities have moved off of their best level following the German ZEW data. The FTSE 100 is higher by 0.47%, DAX +0.87%, IBEX +1.8%, FSTE MIB +0.70%, CAC +1.1%.

- In Individual Stocks: OC Oerlikon [OERL.SZ]: Reported Q1 Net loss of CHF104M better than year-ago loss of CHF166M. Revenue came in better at CHF705M compared with year-ago amount of CHF634M. Group confirmed outlook of modest recovery in business volumes from April 01 guidance. Cpmpany expects to return to operational profitability (EBIT before restructuring costs and impairments) in the second half of the year.|| European Aeronautic Defence & Space [EAD.FR]: Negotiations with Thales [HO.FR]related to A400M have slowed. There have been talks related to a new contract for the A400M but there are no indications that an agreement will be signed in the near term. According to an article from La Tribune, Thales is facing continued problems with the flight management system used in the A400M. || British Land [BLND.UK]: Reported FY10 Net £1.14B better than year-ago loss of £3.9B, NAV increased 27% to 504p/share compared to last year figure || SSL International [SSL.UK]: Reported Q1 Net profit at £85.3M and Revenues at £802.5M, both figures higher than year-ago amounts of £55.5M and £679.4M respectively. Group maintains growth target, of growing EPS by 50% in the three years to March 2012 and its longer term growth ambitions.|| Yell Group [YELL.UK]: Reported FY EBITDA £599.5M and Revenues at £2.2B both figures below year-ago results of £713.1M and £2.4B respectively. Group expected economic pressures to continue in 2010 but would reduce costs by an additional £60M. Group continues to experience noticeable improvement in the rate of decline.|| DCC [DCC.UK]: Reported FY10 Pretax £164.9M slightly lower than analysts' estimates at £169Me, whereas Revenues came in at £6.73B above analysts' estimates of £6.4B. Group anticipated an operating profit increase of approximately 5% with adjusted earnings per share to be modestly ahead of the prior year, both on a constant currency basis. Based on an exchange rate of £0.86 = EUR1.0, this would equated to an operating profit increase of approximately 10% and an adjusted earnings per share increase of approximately 5%, both on a reported basis.

- Speakers: EU's Juncker declared that Eurozone states ready to disburse initial tranche of loans to
Greece of about €20B on May 18th. Said that Greek measures are placing economy on the right track and remained confident that Greece would be able to meet its obligations. Called the additional austerity measures in Spain and Portugal courageous and satisfactory. Reiterated that price stability was critical in the Eurozone and that euro was a credible currency.*** In an interview with El Pais Germany's Merkel stated that Greece's rescue has shown that Europe is able to act when necessary. Said that Europe must be more competitive and that austerity measures were also important for Germany and France. *** France Budget Min Baroin echoed statements from the French government that no austerity measures were needed in country compared to others *** IMF's Lipsky stated that EU action would help stabilize global economy but that the world economy still needed policy measures and was still in a recovery phase.*** Germany's ZEW Franz commented following the data release and said that decline in Sentiment may have reflected uncertainty in the consolidation of public budget. The uncertainty was also spurred by euro exchange rate developments and expressed concern in the decline in Euro. Furthermore said that this assessment may have been reinforced by increases in German exports and industrial production.*** Following inflation data BoE King wrote a letter to Chancellor Osborne where he attributed recent spike to temporary factors. Said he was ready to either extend or reduce monetary stimulus and would continue to monitor inflation closely which is likely to fall back to target within a year.*** Chancellor Osborne responded by saying that he was certain that BoE will remain vigilant on upside CPI risks and was absolutely committed to maintaining stable CPI. Reiterated prior view that deficit and recovery are most urgent issues

- Currencies/Fixed Income: The EUR/USD remains above its fair value purchasing power parity level at 1.15 but more downside is expected especially as the
US economy is on the recovery track. The highlights of this session were the ZEW release and UK CPI. May ZEW was worse than expected but EUR-USD continued to hold up ahead of 1.2400. The pair pushed to 1.2433 highs ahead of the release, but EUR/USD price action remains choppy afterwards and at the time of writing is trading at 1.2380. Furthermore there has been renewed speculation of a yuan revaluation following Chinese official statement which vowed to improve exchange rate. There were also rumors in the market of a possible German VAT hike. Across the channel the inflation data was above the BOE's 2% inflation target, though BoE's chief continues to attribute the spike to temporary effects. Cable pulled back from 1.4520 post-CPI highs and moved steadily lower to trade at pullback lows of 1.4416, which was just a few pips from its early European base of 1.4408. Gilt futures fell further on the release, with the 10-year June contract now down 35 ticks at 117.58, versus 117.80 just prior to the release. EUR-CHF continued to meet demand ahead of 1.4000 after SNB bids put a floor in place at this level on Monday. A low of 1.3998 was noted, but speculative euro sellers were unable to trigger large stop losses below at 1.3990. SNB's Hildebrand expressed concern over the decline of the Euro as it would pressure the Swiss franc up. Market sources said the SNB is bidding with several yards of euros a day around 1.4000, which is now the new "line in the sand" after it pulled its bid at 1.4300-25 earlier on in the month.

- Geopolitical: European Union sent €14.5B portion of the loan package to
Greece following yesterday's comment by EU's Juncker stating that EU states were ready to disburse the initial tranche of loans of approximately €20B. Note that Greece has €8.5B in debt maturity due on May 19th. ***EU Finance Ministers continue to seek compromises with UK over hedge fund rules. European finance ministers continue to work on versions of the regulation a day after EU Parliament committee approved new stricter rules for private equity firms and hedge funds. The proposed rules to be further negotiated among the branches of the EU.***In related US news, WSJ reported yesterday US Senate approved a measure aimed at making it more difficult to use US funds for rescuing foreign governments. The measure was approved by a 94-0 vote. Under the bill, the Obama administration would be required to certify that any future loans made by the IMF would be fully repaid.***Civil Aviation Authority (CAA) sets new fly-zone for limited time; to allow for planes to fly at higher ash densities Tuesday. ***UK Chancellor Osborne seeking to prevent meddling with government forecast figures when Coalition pushes for quick spending cut measures on emergency budget next Monday. The Guardian reported that the Chancellor seeks to transfer new powers to the newly established Office for Budget Responsibilities, effectively alleviating control by chancellors to forecast economic and fiscal data, who will continue to retain control over decision regarding tax and spend.

***Looking ahead****

- 7:45 (US) ICSC Weekly Chain Store sales
- 8:30 (CA) Canada Mar Intl Securities transaction: C$5.0Be v C$6.7B prior
- 8:30 (US) Apr Producer Price Index M/M: 0.1%e v 0.7% prior; PPI Ex Food&Energy M/M: 0.1%e v 0.1% prior
- 8:30 (US) Apr Housing Starts: 650Ke v 626K prior; Building Permits: 680Ke v 680K prior (revised)
- 8:30 (CL) Chile Q1 GDP Y/Y: 1.2%e v 2.1% prior; Current Account: $1.3Be v $1.0B prior
- 8:55 (US) Redbook Weekly Retail Sales
- 9:20 (BE) Belgium Feb Trade Balance: No est v -€1.5B prior
- 10:00 (BZ) Brazil Apr Tax Collections (BRL): No est v 59.4B prior
- 12:00 (TU) Turkey Central Bank Interest rate Decision: expected to remain unchanged fom current 6.50% level
- 8:00 Hungarian Central Banker, Finance Minister speak
- 8:30 ECB's Weber speaks on financial regulation
- 12:20 Fed's Pianalto speaks in Pittsburgh

 

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 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

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: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

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