User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday June 14, 2010 - 09:53:21 GMT
Trade the News Staff -

Share This Story:
| | Email

European Market Update: Risk appetite continues to find footing in session (Trade the News)

Monday, June 14, 2010 5:48:02 AM

European Market Update: Risk appetite continues to find footing in session;


***Economic Data***
- (FI) Finland May CPi M/M: -0.1% v 0.1%e; Y/Y: 1.0% v 1.2%e
- (FI) Finland Apr Final Retail Sales Volume: 0.2% v 6.4% prior
- (IN) India May Wholesale Prices Y/Y: 10.2% v 9.6%e
- (SP) Spain Apr House Transactions: Y/Y: 17.6% v 9.0% prior
- (SZ) Swiss May Producer & Import Prices M/M: 0.3% v -0.1%e; Y/Y: 1.3% v 0.9%e
- (IT) Italy Q1 Labor Costs Q/Q: 0.7% v 0.6% prior; Y/Y: 3.6% v 2.6%e
- (SW) Sweden May AMV Unemployment Rate: 4.5% v 4.6%e
- (HK) Hong Kong Q1 Industrial Production Y/Y: 0.4% v -4.9% prior; Producer Price: 4.0% v -0.3% prior
- (EU) Euro Zone Apr Industrial Production M/M: 0.8% v 0.5%e; Y/Y: 9.5% v 8.7%e
- (PO) Portugal May Consumer prices M/M: 0.2% v 0.2%e; Y/Y: 1.1% v 1.1%e
- (PO) Portugal May CPI EU Harmonized M/M: 0.2% v 0.4% prior; Y/Y: 1.1% v 0.7% prior

- Equities: - European equities opened the session higher, supported by gains in Asian equities and the narrowing in peripheral debt spreads. In terms of specific sectors, today's gains are being led by miners and financials. However, shares of BP are moving lower on continued concern about the outlook for the company's dividend and costs related to the Gulf fo Mexico oil spill. Euro Stoxx 50 Index +1.4% at 2,674; DAX Index +1.2% at 6,120; CAC-40 Index +1.5% at 3,608 and FTSE 100 Index +0.7% at 5,198.

- In Individual Stocks: British Petroleum [BP.UK]: Provided daily update in which cost of Gulf of Mexico response to date is $1.6B v $1.43B on June 10th. In the first 12 hours of June 13 (midnight to noon), approximately 7,720 barrels of oil were collected and 16.9M cubic feet of natural gas were flared. On June 12, a total of approximately 15K barrels of oil were collected and 32.9M cubic feet of natural gas were flared|| United Utilities [UU.UK]: To sell UK and European non-regulated interests, transaction valued at approximately £174M to Veolia Water UK || CS.FR Weekend press speculated that Axa was in talks to sell UK unit to Resolution. The talks were confirmed by both companies. Total consideration under discussion is £2.75B, which is expected to be funded by a pre-emptive rights issue by Resolution of approximately £2B, £0.5B of Deferred Consideration Notes issued to AXA and also by acquisition bank debt. || Onyx Pharmaceuticals [ONXX]: Reported that Phase III trial of Nexavar in first-line advanced non-small cell lung cancer did not meet primary endpoint of overall survival || Majestic Wines [MJW.UK]: Reported prelim FY10 profit before tax £16M well above year-ago figures of £7.4M. Revenues were at £233.2M also above year-levels of £201.8M.Like-for-like sales in UK retail stores increased 8.4%. Outlook for the UK remained uncertain.

- Speakers: Fed's Bullard commented that US inflation was well contained at this time; but noted the current European crisis should not postpone any Fed's interest rate increase. He did not see signs of contagion from European debt crisis. Bullard stressed that now was not the time to normalize Discount rate further but IF it was raised it would not be a sign of further monetary action. US might benefit on safe-haven flows and that the US housing prices likely to have hit bottom but noted that they would not rise anytime soon. The Fed could pull back on some quantitative easing as US economy recovered and might have inflationary risks in the medium term due to monetary policy. Fed's Bullard added in additional commentary that the US economic recovery was on track and might be complete in Q3. China is back on rapid growth path but is not facing bubble and is likely to continue for a 'considerable' period of time and he noted that the risk of a sudden Chinese slowdown was limited. The European situation was serious and unclear but did not expect that the debt woes will derail global recovery ***China Foreign Min Qin reiterated the view that Yuan currency issue was not the main reason for the trade imbalances between US and China. He stressed that trade imbalances were caused by effects of globalization. He noted that the Yuan currency exchange rate was dependent upon global economy and opposed politicization of the Yuan currency issue. China did reiterate principles for exchange rate reform. Yuan currency appreciation cannot solve US low savings rate or its unemployment problems ***Japan PM Kan reiterated prior goals to achieve main budget balance in 10 years time. Would also cap fiscal year's JGB issuance to ¥44.3T after FY11 ***ECB's Nowotny commented that it was important that the debt crisis did not turn towards the banking sector. He noted that the global economy had recovered this year and the Central Eastern Europe (CEE) had recovered faster than expected. He noted that the ECB was in exit strategy phase and would not renew 12-month tender operation. The Euro currency stability was not in danger and the ECB member had no issue with euro currency appreciation negatively affecting exports. ***UK Office for Budget Responsibility (OBR) presented its initial forecasts and lowered the UK GDP growth outlook and overall deficit projections. The OBR forecasted 2011 GDP at 2.6% v 3.0% to 3.5% official gov't range and place the 2012 GDP outlook at 2.8% versus the prior range between 3.25% to 3.75%. the OBR put UK trend growth rate at 2.25% over the next three years and slowing to 2.0% in 2014. The OBR forecasted £22B lower deficit in the 2010/15 period with the 2010/11 PSNB at £155B v £163B prior gov't forecast. ***Fitch affirms India's Long-term local currency rating at "BBB-"; raises outlook to "Stable" from "negative"

- Currencies/Fixed Income: A continued rise in risk appetite prompted higher stocks, a narrowing of peripheral spreads and a softer USD and JPY to begin the week. The EUR/USD moved firmly above the 1.22 level with dealers noting that 1.23 and 1.24 area of retracement would not be out of the question in the current technical environment. ECB's Nowotny that Euro currency stability was not in danger played upon the rising risk appetite scenario in the session. The GBP also benefited from 'hawkish' comments from BOE member Sentence in the weekend press when he questioned how long the UK could maintain its expansionary monetary policy. GBP/USD approaching the mid-1.47 handle, up over 125 from the Tokyo open. USD/JPY testing the 92 area but remained within its recent weekly ranges of late.

- Geo-Political: The Belgian elections during the weekend indicated preliminary results pointing towards the centre-right New Flemish Alliance Flemish (N-VA) party majority. According to the Guardian, with over 80% of votes accounted for in Sunday's election, the likely result would be an N-VA party win of 28 seats in the lower house versus the current 8. This would cause the French-speaking socialists to drop to second place. Note the current coalition is comprised of Christian Democrats, Liberals and Socialists, all of which have divisions between the Dutch and French-speaking members. The article goes on to comment that the election results will increase divisions between Flemish and French speaking regions. *** In France, Prime Minister Fillon addressed budgetary concerns by favoring to increase the nation's retirement age to 63 from the current 60, which was also supported by several members of Parliament according to the French press.

In The paper: NYT comments on how banks in Germany and France are the most exposed to the EU debt crisis and noted that banks in these two countries have lent about $1T to the most troubled countries in the EU. Banks in France had lent $493B to Spain, Greece, Portugal and Ireland by the end of 2009. (BIS data) German banks have lent $465B (BIS data). Hypo Real Estate has said that its exposure to government debt from the four countries (plus Italy) is more than $97B. Deutsche Bank holds €500M in Greek government bonds and no Spanish nor Portuguese sovereign debt

- China stresses that it would resolutely oppose politicizing Yuan currency issue
- Risk appetite sentiment maintains a foothold into the new week. Asian equities end up around 1.5% (Mainland China was closed)

***Looking Ahead***
- 6:30 (GE) German Fin Min Schaeuble
- 8:00 (PD) Poland Apr Current Account: -€650Me v -€559M prior; Trade Balance: -€410Me v -€514M prior
- 8:30 (CA) Canada Apr New Motor Vehicle Sales M/M: -5.0%e v -4.25 prior
- 9:00 (FR) France to sell €7.5B in Bills
- 11:00 (MX) Mexico May Vehicle Production: No est v 170.3K prior; Domestic Vehicle Sales: No est v 60.4K prior
- 11:00 (GE) German Chancellor Merkel meets French President Sarkozy



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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim 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