User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday December 28, 2012 - 11:04:46 GMT
Trade the News Staff -

Share This Story:
| | Email EU Market Update: Potential US sovereign downgrade concerns provide a headwind for risk appetite in session; USD and JPY reverse earlier weakness EU Market Update: Potential US sovereign downgrade concerns provide a headwind for risk appetite in session; USD and JPY reverse earlier weakness
Fri, 28 Dec 2012 5:40 AM EST

- Nikkei225 Index ends 2012 +23% at 10,395 with its best annual performance since 2005
- Last-Ditch Fiscal Cliff Talks Planned; House Returning Sunday as Cliff Deadline Looms
- Concerns that the US sovereign rating would be downgraded with the fiscal cliff impasse and hampering risk appetite
- France Q3 Final GDP revised lower
- Bank of Spain (BOS) Monthly Economic Bulletin Q4 economic activity contracted
- Japan Fin Min: not seeking a drastic decline in the JPY currency
- Italy sells upper end of range in 5-year and 10-year bond sale; borrowing costs rise slightly from two-year lows

***Economic Data***
- (RU) Russia Narrow Money Supply w/e Dec 24th (RUB): No est v 7.37T prior
- (FI) Finland Nov Preliminary Retail Sales Volume Y/Y: +1.7% v -0.1% prior
- (HU) Hungary Q3 Current Account: 780M v 628Me
- (TH) Thailand Nov Current Account: $392M v $240Me; Total Trade Account Balance: +$630M v -$146M prior; Overall Trade Balance: $1.2B v -$1.3B prior
- (TH) Thailand Nov Business Sentiment Index: 52.0 v 52.1 prior
- (FR) France Q3 Final Gross Domestic Product Q/Q: 0.1% v 0.2%e; Y/Y: 0.0% v 0.1%e
- (FR) France Nov Consumer Spending M/M: 0.2% v 0.0%e; Y/Y: -0.2% v -0.6%e
- (ES) Spain Nov Adjusted Real Retail Sales Y/Y: -7.8% v -10.3%e; Real Retail Sales Y/Y: -7.8% v -8.4% prior
- (TR) Turkey Nov Trade Balance: -$7.2B v -$6.0Be
- (EU) ECB: 16.0B borrowed in overnight loan facility vs. 16.3B prior; 252.0B parked in deposit facility vs. 221.6B prior
- (AT) Austria Nov Producer Price Index M/M: -0.2% v -0.1% prior; Y/Y: 0.4% v 0.7% prior
- (CH) SNB releases Nov balance sheet data: Foreign Currency Investments: CHF428.3B v CHF426.8B m/m
- (SE) Sweden Nov Trade Balance (SEK): 3.6B v 4.0Be
- (NL) Netherlands Dec Producer Confidence: -5.7 v -6.5e
- (SE) Sweden Oct Non-Manual Workers Wages Y/Y: 2.7% v 2.7% prior
- (SE) Sweden Nov Retail Sales M/M: 0.3% v 0.2%e; Y/Y: 0.9% v 1.0%e
- (IT) Italy Nov PPI M/M: -0.1% v -0.2%e; Y/Y: 2.2% v 2.1%e
- (DE) Germany Dec CPI Hesse M/M: +0.9% v -0.2% prior; Y/Y: 2.2% v 1.8% prior
- (ES) Spain Oct Current Account: +0.9B v -0.4B prior

Fixed Income:
- (IN) India sold total INR120B vs. INR120B indicated in 2020, 2025 and 2042 bonds
- (IT) Italy Debt Agency (Tesoro) sold total 5.88B vs. 6.0B indicated in 2017 and 2022 BTP bonds
- Sold 2.87B vs. 3.0B indicated in 3.5% Nov 2017 BTP Bond; Avg Yield 3.26% v 3.23% prior; Bid-to-cover: 1.29x v 1.24x prior
- Sold 3.0B vs. 3.0B indicated in 5.5% Nov 2022 BTP Bond; Avg Yield 4.48% v 4.45% prior; Bid-to-cover: 1.47x v 1.18x prior
- (EU) ECB allotted 89.7B vs. 73Be in 6-Day Main Refinancing Tender at fixed 0.75%


FTSE 100 -0.05% at 5,952, DAX -0.30% at 7,631, CAC-40 -0.80% at 3,646, IBEX-35 -1.4% at 8,163, FTSE MIB -0.40% at 16,340, SMI -0.10% at 6,858, S&P 500 Futures -0.20% at 1,409

- Following the mixed open, European equity markets are mostly lower, led by weakness in the Spanish IBEX-35 index. Markets continue to focus on the developments related to the US budget talks. Later today, US President Obama is expected to meet with various Congressional leaders at around 3:00 p.m. EST. Also, US House Republicans are due to resume their legislative session on Sunday, Dec 30th. In terms of specific sectors, banks are mostly lower, led by BBVA, BNP, Commerzbank and Santander. Resources related firms have largely tracked the gains in copper and oil prices.

-Germany movers [Porsche +6% (favorable court ruling; Prosieben -1% (fined by Germany's cartel office)]
- UK movers [Lonmin -1% (CEO to resign)]
- Italy movers [Enel -0.90% (concerns regarding 2013 dividend)]
- Spain movers [Bankia -24% (to be removed from the IBEX-35 index)]

- German Bundestag (lower house) President Lammert (CDU) stated that Greece aid was within Parliament's framework and the approval of 49.1B aid tranche was correct
- Bank of Spain monthly bulletin reiterated its view that Q4 economic activity contracted
- Japan Fin Min Aso stated that he sought an agreement with BoJ on inflation target before next meeting in Jan. He also noted that the US should seek a strong dollar but that Japan was not seeking a drastic decline in the JPY currency. Only Japan had abided by G20 accord regarding competitive currency devaluation. Other country's had no right to lecture Japan on currency policy
- Japan Econ Min Amari stated that it was in the nation's paramount interest in choosing next BOJ governor. It was important for govt and Central bank to share strong will to reach 2% inflation target and for market to understand that. Japan economy must be on upswing to consider sales tax implementation
- Japan Vice Fin Min Yamaguchi stated that Fin Min Aso would not likely attend BOJ policy meetings
- China Central Bank (PBoC) Q4 Monetary Policy Committee Meeting reiterated its prudent monetary policy outlook and would use various policy tools to guide steady growth in credit and social financing/ It did see more positive factors in economy in Q4 and the current price situation was basically stable. The global economy remained weak and filled with uncertainty. It would also push ahead with exchange rate reform while holding Yuan rate basically steady
- Philippines Central Bank noted that challenges in global economy remained and domestic economy must address the fallout. Needed to tackle increased market volatility arising from US fiscal cliff negotiations and Euro Zone debt crisis
- Thailand Central Bank stated that its 2013 GDP was seen above 4.6% prior forecast due to lower external uncertainties. The euro-zone debt crisis would not worsen but the US fiscal cliff remained an area of concern. It would closely monitor movement of capital flows as Japan might undertake further monetary policy easing
- Japan Trade Min Motegi noted that it needed to rethink nuclear reactor lifetime limit and might let reactors operate for more than 40 years. There would be no restarts of nuclear power plants until after new safety standards for nuclear plants were established this summer. Economy would never be affected by possible energy supply constraints

- The market initially tried to remain optimistic on the US. fiscal cliff front amid reports that Obama would host a meeting with Reid, McConnell, Boehner and Pelosi in a bid to reach a compromise before the debt ceiling deadline. However, some concerns that the US sovereign rating would be downgraded provided a headwind and helped the USD and JPY reverse initial weakness. Dealers also noted that general book squaring in thin end of year liquidity played a role in the price action.
- The JPY currency reversed its earlier losses against the major pairs during the session. During Asia a plethora of Japanese data offered justification for more policy easing after industrial production and manufacturing weakness, while deflationary headwinds also remained. Comments from Fin Min Aso that Japan was not seeking a drastic decline in the JPY currency was one factor in aiding its reversal.
- The EUR/USD was off by over 60 pips ahead of the NY morning and trading around the 1.3175 area.

Political/ In the Papers:
- (DE) Germany's 2014 budget would be balanced if new borrowings are below 7B vs currently planned 13B - German Press; Suggests the government could propose savings measures equal to a single-digit billion euro amount for 2014. (Note: On yesterday's session, Germany's Fin Min Schaeuble said that there was no post election austerity planned)
- (GR) Greece Central Bank: 50B in aid was enough to recapitalize the banking sector in Greece; four largest banks required 27.5B in capital
- (ES) Telegraph's Ambrose Evans-Pritchard says Spain's property market remains a downside risk for the country's economy; Questions the Spanish government's belief that the housing market has already hit a bottom.
- (US) House of Reps to resume legislative session at 18:30ET on Sunday, Dec 30 - GOP sources citing ongoing caucus conf call
- House Republicans informed that they may need to remain in session through to Thursday, January 3, the final day of the 112th Congress.
- House Speak Boehner also said to have indicated that the Feb/March timeframe, when the debt ceiling expires, is the true deadline for a fiscal deal.
- (US) Senate Majority Leader Reid (D-NV): It is looking like the US will go over the fiscal cliff and tax rates will go up starting Jan 1 unless Congress acts immediately
- (US) Congressional leaders to meet with Obama at White House on Friday

***Looking Ahead***
***All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- 06:00 (IE) Ireland Nov Property Prices M/M: No est v -0.6% prior; Y/Y: No est v -8.1% prior
- 06:30 (BR) Brazil Nov Central Govt Budget (BRL): 2.1Be v 9.9B prior
- 06:30 (IN) Weekly India Forex Reserves
- 06:30 (US) Daily Libor fixing
- 07:00 (CL) Chile Nov Unemployment Rate: 6.6%e v 6.6% prior
- 07:00 (CL) Chile Nov Total Copper Production: No est v 476.2K prior
- 07:00 (CL) Chile Nov Retail Sales Y/Y: 7.2%e v 6.6% prior
- 07:00 (CL) Chile Nov Manufacturing Index: 2.7%e v 9.1% prior
- 07:00 (ZA) South Africa Nov Trade Balance (ZAR): -17.6Be v -21.2B prior
- 07:30 (BR) Brazil Nov Primary Budget Balance (BRL): 5.5Be v 12.4B prior; Nominal Budget Balance: -6.0Be v -4.6B prior; Net Debt % GDP: 35.0%e v 35.2% prior
- 09:45 (US) Dec Chicago Purchasing Manager: 51.0e v 50.4 prior
- 10:00 (US) Nov Pending Home Sales M/M: 1.0%e v 5.2% prior; Y/Y: 12.2%e v 18.0% prior
- 10:30 (US) Weekly EIA Natural Gas Inventories
- 11:00 (US) Weekly DOE U.S. Crude Oil Inventories
- 11:00 (CO) Colombia Nov Urban Unemployment Rate: 10.0%e v 10.2% prior; National Unemployment Rate: No est v 8.9% prior
- 11:00 (US) Fed to Purchase $4.25-5.25B in Notes
- 14:00 (AR) Argentina Oct Economic Activity Index M/M: No est v 0.3% prior; Y/Y: 2.0%e v 0.1% prior
- 14:00 (AR) Argentina Nov Construction Activity M/M: No est v -0.3% prior; Y/Y: No est v -0.9% prior
- 15:00 (US) Congressional leaders to meet with President Obama at White House
- 15:30 (MX) Mexico Nov YTD Budget Balance (MXN): No est v -163.8B prior


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.

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 12 Nov 2018
AA CA/US Holiday
Tue 13 Nov 2018
AA 09:30 GB- Employment
A 09:00 DE- ZEW Survey
Wed 14 Nov 2018
AA 09:30 GB- CPI
AA 09:30 EZ- GDP
A 14:30 US- EIA Crude
Thu 15 Nov 2018
A 01:30 AU- Employment
AA 09:30 GB- Retail Sales
A 12:30 US- Weekly Jobless
Fri 16 Nov 2018
AA 10:00 EZ- Final HICP
A 14:15 US- Ind Prod/Cap Util

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