User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday June 18, 2010 - 10:34:53 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

European Market Update: Markets might question how tough the terms of the European Banking tests would be (Trade the News)

Friday, June 18, 2010 5:54:03 AM

 European Market Update: Markets might question how tough the terms of the European Banking tests would be

 

***Economic Data***
- (JP) Japan Cabinet Jun Economic Report: Raises economic assessment for the first time in three months
- (GE) Germany May Producer Prices M/M: 0.3% v 0.1%e; Y/Y: 0.9% v 0.8%e
- (FR) France Q1 Final Wages Q/Q: 0.7% v 0.7% prior
- (HU) Hungary Apr Avg Gross Wages Y/Y: 1.1% v 3.2%e
- (AS) Austria Apr Producer Price Index M/M: 0.8% v 0.5% prior; Y/Y: 2.5% v 0.4% prior
- (NV) Netherlands Apr Consumer Spending: 0.2% v 0.7% prior
- (NV) Netherlands Jun Consumer Confidence: -18 v -16 prior
- (IT) Italy Apr Industrial Orders M/M: 4.7% v 0.8%e; Y/Y: 20.6% v 13.5%e
- (IT) Italy Apr Industrial Sales M/M: 0.5% v 1.5% prior; Y/Y: 6.4% v 6.3% prior
- (UK) May Major banks Mortgage Approvals: 51K v 50Ke
- (UK) May Public Finances (PSNCR): £12.0B v £20.5Be; Net Borrowing: £16.0B v £18.0Be
- (UK) May Preliminary M4 Money Supply M/M: 0.0% v 0.2%e; Y/Y: 2.8% v 3.2%e
- (MA) Malaysia May CPI Y/Y: 1.6% v 1.6%e
- (SZ) Swiss KOF Jun Economic Forecasts: Lowers its 2011 GDP and Inflation views

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
- Equities: European equities indices opened the session flat to higher, following mixed trading in Asia. Earlier gains were supported by shares of Porsche, SocGen, Santander and BP. As of 5:36 EST, markets are off of their best levels. Ahead of today's session, equities were on pace for the 8th straight session of gains on the recent recovery in risk appetite and gains in the Euro. Euro Stoxx 50 Index +0.2% at 2,734; DAX Index +0.5% at 6,224; CAC-40 Index +1.3% at 3,684 and FTSE 100 Index +0.4% at 5,274.

- In Individual Stocks: Ipsen [IPN.FR] is trading down 20% at the time of writing as its partner Roche announced an amendment to trial protocols for the taspoglutide phase III program. Now it expects a minimum delay of 12-18 months. || Novartis [NOVN.SZ] released phase II results for ACZ885 which provided highly statistically significant risk reduction of acute flares in gout patients.|| Porsche [PAH3.GE] reported 9-month post-tax loss of €700M worse than profit reported a year ago at €4.2B. Revenues were higher at €5.2B vs last year figure of €4.7B. The company Guided FY10 loss at less than €1B compared to analysts estimates of €346M. It had previously seen a loss in the low single digit billion-euro range.

- Speakers: Japan's June Cabinet Report raised its economic assessment and noted that the economy was rebounding (the first upgrade in three months). It noted that although the economy had been picking up steadily and the foundation for a self-sustaining recovery was being laid, it remained in a difficult situation such as the high unemployment rate *** IEA's Tanaka commented that downside risk to global economy could cause IEA to lower 2010 forecasts on oil demand *** Russia President Medvedev stated that the forecast for the country's 2011 budget deficit to GDP ratio was at 4% and move lower to 3% in 2012. He warned that mild forms of protectionism could replace liberalism, while also saying there could return to discussion of tax cuts for business in coming years depending on economic conditions. Medvedev commented that Russia would continue talks with China on alternative reserve currencies. He did note that the USD was the strongest reserve currency at this time, and said discussions were centering on full yuan convertibility. *** ECB's Draghi commented that Italy would publish its bank stress tests. He reiterated that more budget policy coordination was needed and again warned against protectionism. ***Spain Debt Agency (Tesoro) announced that it would sell a new benchmark 10-year Bono via syndicate in Q3 and planned to sell five regular bond auctions during that period. ***Finland PM Vanhanen submits resignation to president (as expected) ahead of planned surgery ***India Central Bank Head Subbarao stated that the RBI was calibrating its exit from a loose monetary policy stance and noted that measures taken on liquidity should suffice. The RBI was watching inflation carefully and stated that headline inflation was faster than anticipated. The RBI might review its 2011 inflation target at its July policy meeting. ***ECB's Trichet stated that too rapid overall credit growth should always be a warning signal for Central Banks. He stressed that banks should not focus on short-term profit but on helping economy. He reiterated view that interest rates were appropriate and bond purchases were being sterilized ***Swiss KOF Economic institute issued a mixed economic report. The KOF raised 2010 GDP forecast 1.8% v 1.7% prior while lowering the 2011 GDP forecast 1.6% v 2.2% prior. The KOF trimmed 2011 inflation expectations to 0.9% from 1.0% seen back in March but raised its 2010 inflation view to 1.0% v 0.9% prior.

- Currencies/Fixed Income: GBP/USD extended its recent gains, testing its best level in five weeks around the 1.4885 level after UK May public finances came in better than expected. The pair was approaching the NY morning around the 1.4825 area. EUR/USD remained steady around 1.2400 area for the bulk of the session. Euro buy stops are rumored to be building above the 1.2430 area protected by continuing chatter of a Far East central bank offering euros ahead of that key resistance. The JPY maintain a steady tone as well with USD/JPY holding below the 91 handle. EUR/CHF near fresh all-time lows above the 1.4730 level as the CHF continued to benefit from the recent SNB remarks that deflationary pressures were subsiding. The USD was off its best level as the NY morning approached as dealers began to question how tough the terms of the European banking tests would be.

- Geo-Political: BT Group urged the Communications Workers Union (CWU) to postpone strike ballot and return to formal negotiations. Earlier during the session, the union's Deputy Secretary General stated that he expects CWU to vote in favor of the strike regarding wages. The union has prepared for labor actions for a significant period of time. ***It was reported that Greece's Civil Servants' Confederation union (ADEDY) to participate in strike 29th of June. Note on 17th of June, Greece's largest union, GSEE, was also reported to plan a strike scheduled for June 29. Both unions have a combined membership of more than 1.3M. This announcement will be the 5th labor strike for Greece this year ***Dutch Labour Leader reportedly said that it was not interested in establishing a coalition with Liberals and Christian Democrats. Back on the 20th of February, the Netherlands government coalition collapsed due to disagreements over the deployment of troops in Afghanistan. The recent Dutch elections put the right leaning VVD party out in front of Labor by one seat at 31. Though the VVD party has majority seats, it had began the process of negotiating a majority coalition in the 150-seat parliament in step towards forming a new government.

- In The papers: London Telegraph's Ambrose Evans-Pritchard said the ECB might have to buy "hundreds of billions" of bonds to deal with the EU debt crisis. To date the the ECB's bond purchases have totaled €47B. the article noted that according to Brian Coulton of Fitch Ratings, German members of the ECB appeared to be blocking the sort of intervention in southern European bond markets needed to restore investors confidence. Fitch said European banks have to refinance about €2T of long-term by the end of 2012. ***El Mundo reported that Bank of Spain Deputy Gov warned members of Spain's parliament of a possible liquidity squeeze for the country banks. Deputy Gov Javier Ariztegui said a liquidity squeeze was possible for the wholesale funding market remained closed in the coming months. Ariztegui added that ECB liquidity lines have offered banks a lifeline as lender of last resort, but this cannot go on for ever. The article stated that wholesale markets have been closed since Easter.

***Notes/Observations:
- European Stress test publication: Market might question how tough the terms of the tests would be.
- Fitch: ECB must buy 100's of billions of bonds to tame EU debt crisis.
- China Vice Fin Min: The euro is one of many uncertainties facing global economy
- India Central Bank remains concern over inflationary pressures
- Russia says it will be the co-founder of a new world economic order

***Looking Ahead***
- 7:00 (SP) IMF's Strauss-Kahn and Spain PM Zapatero
- 8:00 (IN) India to sell up to a total INR110B in 6.85% 2012 and in 8.2% 2022 Bonds
- 8:00 (PD) Poland May Producer Prices M/M: 0.6%e v 1.2% prior; Y/Y: 0.5%e v -0.5% prior
- 8:00 (PD) Poland May Sold Industrial Output M/M: -3.4%e v -9.1% prior; Y/Y: 7.9%e v 9.9% prior
- 8:30 (CA) Canada May Leading Indicators M/M: 0.7%e v 0.9% prior
- 8:30 (CA) Canada Apr Intl Securities Transactions: C$2.5Be v -C$616M prior
- 9:00 (BE) Belgium Jun Consumer Confidence: No est v -13.0 prior
- 9:00 (IT) Italy Fin Min Tremonti
- 9:45: (GE) Germany Chancellor Merkel
- 10:00 (MX) Mexico Apr Retail Sales: 3.5%e v 2.3% prior
- 10:00 (MX) Mexico Central bank Interest rate Decision: Expected to leave the Overnight Rate Unchanged at 4.50%
- 15:00 (AR) Argentina May Industrial Production M/M: No est v 1.5% prior; Y/Y: 9.2%e v 10.2% prior
- 15:00 (AR) Argentina Q1 Quarterly GDP: 6.45e v 2.6% prior; Current Account: $400Me v $1.6B prior
- 17:00 (CO) Colombia Apr Industrial Production Y/Y: 6.9%e v 6.4% prior; Retail Sales Y/Y: 10.55e v 9.3% prior
- (CO) Colombia Central Bank Interest rate Decision: Expected to maintain the Overnight Lending rate Unchanged at 3.00%

 

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 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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