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Wednesday November 17, 2010 - 17:11:13 GMT
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Daily GVI Forex Forex View- Europe Center Focus

 

The Daily Forex View

Forex Analysis


Europe Center Focus 

10:00 GMT (Global-View.com) Nov 17- The Eurozone budget and debt crisis remains front and center early Wednesday. It is not only Ireland but Greece which in in the headlines. Additionally, the markets are now tossing in Portugal Spain and Italy into their calculus, and a bit more distantly, France. The basic problem is that politicians prefer to push the financial problems into the future rather than to dealing with them now. We know that many western governments are going to have to face significant budget austerity in the decades ahead. In Europe, we have to wonder how the German economy can remain strong in the face of the prospect of near universal austerity in the EU. In the meantime, public discussions and brinksmanship on these issues are a major source of instability for the EUR.

On the U.S. side, fixed income markets have generally been weakening on QE2. QE2 was supposed to drive long term rates lower, but they have moved substantially higher. Several Fed officials have been trotted out to defend the program in recent days. The markets are not buying the story. 

As noted last week, the latest Chinese CPI data showed an unexpected 4.4% increase yr/yr. The data assure further gains in the CNY. In the end, China will be forced to allow its currency to rise to contain inflation. 

CALENDAR

UPCOMING DATA HIGHLIGHTS:  North America: US- CPI, Housing Starts Building Permits, and weekly energy inventories. 

Forex pairs vs 2-yr note spreads

 

  

Forex   #REF!     GBP vs. 10:13
EUR 1.3507 22 JPY 112.61 18 JPY 132.77 38
GBP 1.5925 46 GBP 84.82 -11 CHF 158.28 11
CHF 0.9939 -22 CHF 1.3425 -8 CHF vs.    
JPY 83.37 0       JPY 83.88 19

Some traders focus intently on the Japan vs. U.S. 2-yr note spread (only the U.S. 2-yr moves much).

COMMODITIES and Commodity Currencies


Click on Chart to Enlarge

  

Commodity         10:13
CAD 1.0210 -8 AUD 0.9776 16 Gold 1338 -3.69
CNY 6.6423 48 NZD 0.7684 5 WTI 81.79 -0.55

EQUITIES & INTEREST RATES

Bonds are a counter to risk trades because risk investments must be financed. When the cost of money moves up (higher interest rates), the return and allure of risk trades such as equities falls. 

  

Equities           10:13
NIK 9812 15 DAX 6689 26 DJIA 11024 0
HSI 23214 -479 FTSE 5683 1 S&P 1178 0
SSEC 2839 -56 SMI 6506 0 NAS 2470 0
ASX 4624 -76       TSE 12602 0

See ECONOMIC CALENDAR for a complete list of future forex market events and consensus data estimates. Go to the forex forum for up-to-date market developments and technical trading ideas.


John M. Bland is an author and co-founder and partner of Global-View.com. Prior to Global-View.com, he was a forex trader and a private-label forex analyst for a top Fed watching service in NYC. He has been a corporate forex advisor and also worked in international liability management for a major N.Y. money center bank. John holds an MBA from the University of California at Berkeley and a B.A. in International Economics from that school.


Important Notice

The information upon which Global Viewpoint, Inc. Bases its Forex analyses is obtained from sources it believes are reliable, but Global Viewpoint, Inc. Does not guarantee the accuracy, reliability, timeliness or completeness of any of the information, content, views, opinions, recommendations or services, contained on, distributed through, or linked, downloaded or accessed from any of the services contained on the Global-View site, and use of the information provided on this web site is at your sole risk. Global-View specifically represents that it does not give investment advice or advocate any purchase, sale or trade. 

Opinions expressed on the forum pages are not necessarily those of Global Viewpoint, Inc. In using the forums you should not assume that any messages provided have been reviewed by Global- Viewpoint, inc., or that such communications contain correct information, Global Viewpoint, Inc. Disclaims any warranty, whether express or implied including, without limitation, warranties of merchantability and fitness for a particular purpose, with respect to the service or any materials and products. None of the materials presented on our web site are to be regarded as investment advice. 

In no event shall Global Viewpoint, Inc. And other information providers, be liable for direct, indirect, incidental, punitive, or consequential damages of any kind whatsoever, with respect to the service, the materials and the products.

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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.

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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."



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John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

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