User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday January 7, 2013 - 11:14:12 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: banking shares rise after sector wins more flexible Basel rules with full enforcement moved back to 2019 from 2015

TradeTheNews.com EU Market Update: banking shares rise after sector wins more flexible Basel rules with full enforcement moved back to 2019 from 2015
Mon, 07 Jan 2013 5:51 AM EST

***Notes/Observations***
- International banking sector wins more flexible Basel rules with full enforcement moved back to 2019 from 2015
- Silvio Berlusconi reaches Italian election deal with Northern League; throws next month's general election wide open
- Italy PM Monti will seek to be PM in next Govt, unlikely to accept a Fin Min position
- IMF will not make any major revisions to next IMF world economic outlook in January
- Syria President Assad: Govt still has not found a partner for talks in finding solution to the standoff
- Fed members comments post FOMC minutes
- Fed's Plosser: Unclear what the Fed will do when inflation reaches 2.5% and unemployment at 6.5%; there is a fear people may become too focused on the thresholds
- Fed's Bullard: warns of the creeping politicization of central bank monetary policy


***Economic Data***
- (FI) Finland Nov Preliminary Trade Balance: +210M v -238M prior
- (TW) Taiwan Dec Total Trade Balance: $4.1B v $2.9Be; Total Exports Y/Y: 9.0% v 4.5%e; Total Imports Y/Y: 1.6% v 3.0%e
- (UK) Dec Halifax House Prices M/M: 1.3% v 0.0%e; Y/Y: -0.3% v -0.6%e

- (HU) Hungary Nov Producer Prices M/M: -0.7% v -0.4% prior; Y/Y: -2.9%e v +0.2% prior
- (CZ) Czech Nov Industrial Output Y/Y: -3.9% v -1.3%e; Construction Output Y/Y: -2.7% v -4.3% prior
- (CZ) Czech Nov Trade Balance (CZK): 35.5B v 24.0Be
- (CH) Swiss Dec Foreign Currency Reserves (CHF): 427.2B v 423.0Be
- (EU) ECB: 127M borrowed in overnight loan facility vs. 130M prior; 252.6B parked in deposit facility vs. 250.5B prior
- (SE) Sweden Nov Service Production M/M: 1.8% v 0.4%e; Y/Y: +0.5% v -1.0%e
- (HK) Hong Kong Dec Foreign Currency Reserves: $317.3B v $305.2B prior
- (AT) Austria Dec Wholesale Price Index M/M: -0.7 v -1.0% prior; Y/Y: 2.7 v 2.8% prior
- (UK) Dec New Car Registrations Y/Y: 5.3% v 11.3% prior
- (NO) Norway Oct AKU Unemployment Rate: 3.2% v 3.0%e
- (SG) Singapore Dec Foreign Reserves: $259.3B v $255.8B prior
- (CZ) Czech Dec International Reserves: $44.8B v $44.2B prior
- (IC) Iceland Dec Preliminary Trade Balance: 5.0B v 10.7B prior
- (IS) Israel Dec Foreign Currency Balance: $75.9B v $75.7B prior
- (EU) Euro Zone Jan Sentix Investor Confidence: -7.0 v -14.2e
- (EU) Euro Zone Nov PPI M/M: -0.2% v -0.2%e; Y/Y: 2.1% v 2.4%e

- (BR) Brazil Dec FGV Inflation IGP-DI: 0.7% v 0.7%e

Fixed Income:
- (NO) Norway sold NOK4.0B vs. NOK4.0B indicated in 12-month Bills; Yield 1.64%
- (PL) Poland sold PLN3B vs. PLN2.0-3.0B indicated range in 4-month Bills; Yield 3.56%
- (DE) Germany sold 3.515B in 6-month BuBills; Avg Yield -0.0091% v -0.0168% prior; Bid-to-cover: 2.11x v 2.5x prior
- (NL) Netherlands Debt Agency (DSTA) sold total 3.9B vs. 3.0-5.0B indicated range in 3-month and 12-month Bills
- Sold 2.83B vs. 2.0-3.0B indicated in 3-month bills; Yield: -0.014% v -0.041% prior
- Sold 1.07B vs. 1.0-2.0B indicated in 12-month Bills; Yield +0.003% v 0.050% prior

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

***Equities***
-Indices: FTSE 100 -0.30% at 6,072, DAX -0.50% at 7,740, CAC-40 -0.60% at 3,707, IBEX-35 +0.20% at 8,448, FTSE MIB flat at 16,962, SMI flat at 7,059, S&P 500 Futures -0.10% at 1,456
- European equity markets are currently mixed ahead of events this week which include Fed commentary, US earnings, peripheral government bond issuance, Chinese data and rate decisions out of the ECB and BoE. European banks are mostly higher as officials agreed to ease the Base III global liquidity rules. However, Spanish banks have lagged led by Bankia (-11%). Resources related firms are mostly lower, tracking the declines in copper and oil prices.
- European banks broadly higher as Basel regulators ease rules related to liquidity ratios. Outperformers include Commerzbank, Credit Agricole, Deutsche Bank, Intesa and Unicredit.

- Germany movers [Infineon -3% (broker downgrade), RWE -1.5% (broker downgrade), Merck KgaA -1.2% (broker downgrade), Volkswagen -1% (preferred shares downgrade), E.ON -1% (broker downgrade), Air Berlin -0.50% (new CEO); German solar and windpower firms rise amid speculation related to the government's clean energy proposals, Epigenomics +6% (completed regulatory submissions related to proColontest)Daimler +1% (speculation Chinese investors could be interested in stake)]
- UK movers [Rolls Royce -1.8% (concerns related to bribery probe in China), Shell and BP lower by ~1% (lower oil prices); Vernalis +4% (milestone payment), EasyJet +1.5% (Dec traffic, lower oil prices),Bumi Plc +2% (trading update),Barclays +3% (easing of Base III liquidity guidelines)]
- France movers [Banks broadly higher on eased Basel III liquidity rules, Peugeot +6%, Faurecia +7% (speculation that Peugeot may lower stake)]
- Italy movers [Banca Monte Paschi +10% (CEO comments, possible short covering)]
- Switzerland movers [Addex +6% (data presentation), Roche +0.50% (no longer seeking to bid for Illumina)]
- Dutch movers [Wereldhave +3% (sold US property assets), Imtech +1.5 % (confirmed 2012 forecast)]

Speakers:
- Italy's Berlusconi said to have reached new alliance with Northern League

- SNB's Zubruegg expressed concern about the Swiss housing market and noted that raising interest rates was unthinkable. He noted that it was a very special situation with 0% interest rates. Constantly reviewing mortgage market, concerned about property market.
- ECB's Nowotny likely to be re-appointed as Austria Central bank chief, but may not serve a full term
- Israel Central Bank Minutes showed that the Dec vote was 5 to 1 to cut Base Rate by 25bps to 1.75%
- Japan Business Lobby chief Yonekura: Current level of 88 in pair is acceptable
- Japan Chief Cabinet Sec Suga: Recent moves in stock and Fx markets are very welcome
- Japan Vice Finance Min Obuchi confirmed that the MoF was mulling renewing inflation-linked bond sales but added the timing was uncertain. Govt needed to sell deficit-financing bonds to pay for extra budget
- Japan to sell more than 5.0T in new bonds to fund economic stimulus which would bring the total bond issuance in FY12/13 to over 50T, +10% y/y
- India said to have imposed 20% import tax on some Chinese hotrolled flat steel

Currencies:
- FX price action during the European morning was lackluster. The focus to look ahead to the ECB and BOE rate decisions on Thursday as well as peripheral bond auctions as they begin their 2013 funding programs.
- Euro was a touch weaker in the session but still above the 3-week lows registered on Friday. Dealers noted that the accord former Italy PM Berlusconi reached with the Northern League could throw next month's general election wide open as move that may seriously undermine his centre-left rivals. Peripheral yields edged up slightly with Italy and Spain 10-year yields higher by 3bps to 4.28% and 5.50% respectively
- Japan policy makers reiterated the push towards more aggressive policy stimulus, but this looks as if it was fully priced in now, with Japan's Nikkei dropping and JPY backing up from recent losses. The USD/JPY was back towards Friday lows. The pair was around 87.80 ahead of the NY morning.

Political/ In the Papers:
- Basel Committee on Banking Supervision have eased first global liquidity rules, widening definition of the easy-to-sell assets that banks will have to hold to survive a 30-day liquidity crisis
- (EU) ECB continues to have issues with collateral management - German press; The Bank of France has allowed too much credit compared with collateral to six banks due to inadequate haircuts on the collateral; the Bank provided credit in exchange for Short-Term European Paper (STEP) which it accepted as collateral from the banks; According to an ECB spokesperson said there was no impact on the monetary policy operations and added no further comments.
- (FR) France govt does not plan to raise taxes for next few years - French press
- (FR) France Budget Minister Cahuzac: To reallocate 2B from its 2013 budget to state-aided job creation to help reduce unemployment
- Daimler [DAI.DE]: China Sovereign Wealth Fund (CIC) may take a stake of 4-10% in Daimler
- (IT) PIMCO Gross: Continue to buy European debt, Italy bonds look good at 3.5%
- (ES) Spain banks to have one year to comply with rule requiring each bank to a single partner for the sale of insurance- Cinco Dias
- (UK) Bond markets may have already priced in a UK sovereign downgrade - US financial press
- (UK) PM Cameron: Wants to continue serving as PM until at least 2020 to help oversee UK's renegotiated relationship with Europe - financial press
- (US) Goldman Chief economist Hatzius: Employment report was a little weaker than we thought but nothing disturbing - CNBC interview
- (US) Senate Minority Leader McConnell (R-KY): Republicans are "done raising taxes"
- (US) Pres Obama: Republicans playing a "dangerous game" on the debt ceiling
- (US) Former deficit commission Co-Chair Bowles: Using the debt ceiling is the wrong place to draw a line in the sand on deficits - CNBC
- (US) The US dollar may become a less attractive funding currency - FT
-(CN) (CN) China may set 2013 GDP target at 8% vs 7.5% for 2012 - Chinese press

***Looking Ahead***
***All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- (RO) Romania Central Bank Interest Rate Decision: Expected to leave Interest Rate unchanged at 5.25%
- 06:00 (IE) Ireland Nov Retail Sales Volume M/M: No est v 1.7% prior; Y/Y: No est v 3.1% prior
- 06:00 (ZA) South Africa Dec Electricity Production Y/Y: No est v -1.9% prior; Electricity Consumption Y/Y: No est v -3.9% prior
- 06:00 (TR) Turkey to sell 2017 and 2022 bonds
- 06:00 (IS) Israel to sell Bonds
- 06:00 (RO) Romania to sell T-Bills
- 06:00 (RO) Romania to sell Bonds
- 06:30 (CL) Chile Nov Economic Activity Index M/M: +0.4%e v -0.5% prior; Y/Y: 5.2%e v 6.7% prior
- 06:30 (CL) Chile Dec Trade Balance: $200.0Me v $562.0M prior; Total Exports: No est v $6.7B prior; Total Imports: No est v $6.1B prior
- 06:30 (CL) Chile Dec Copper Exports: No est v $3.9B prior
- 06:30 (US) Daily Libor Fixing
- 09:00 (FR) France Debt Agency (AFT) to sell between 6.0-7.2B in 3-month, 6-month and 12-month Bills
- 09:30 (EU) ECB calls for bids in 7-Day Main Refinancing Tender
- 09:30 (EU) ECB announces prior Govt Bond Purchases
- 10:00 (CA) Canada Dec Ivey Purchasing Managers Index (Seasonally Adj: No est v 47.5 prior; PMI Unadj: No est v 46.2 prior
- 11:00 (US) Fed to purchase $1.25-1.75B in bonds
- 11:30 (US) Treasury to sell combined $60B in 3-Month and 6-Month Bills
- 13:30 (EU) ECB chief Draghi speaks in Berlin, Germany
- 18:00 (DE) German Chancellor Merkel meets with Greece PM Samaras in Berlin, Germany

 

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 21 November 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:


Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
13:30 US- Durable Goods
15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
Thu 23 Nov
US/JP- Holiday
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias


  • POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic

  • POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy


  • POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
  • POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
  • POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
  • POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release


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