User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday January 25, 2013 - 10:57:02 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: UK Q4 GDP disappoints while German IFO exceeds expectations; focus turns to ECB LTRO repayments


Fri, 25 Jan 2013 5:32 AM EST

***Notes/Observations***
- Nikkei225 Index surges 2.9% at 10,926 (Sharpest gain since March 22, 2011) after Japan core cpi reading of 0.2 y/y puts pressure mounts on BoJ
- Japanese officials rejected charges they are manipulating the exchange rate.
-Japan Fin Min: BoJ easing aimed at beating deflation, not currency manipulation; excessive JPY strength being corrected
-Japan: Econ Min: Reiterates he will explain Japan FX stance & clarify misunderstandings of Japan policy at Davos
- IMF Lagarge: global economy was showing a timid recovery and would be slightly better in 2013 but uncertainties did remain
- ECB's Draghi: Positive contagion on markets had yet to be transmitted into the real economy
- German IFO survey registers MoM increases and beat analyst expectations
- UK Q4 GDP weaker than expected as it contracts by 0.3%
- Focus on amount of first ECB LTRO repayment announcement with 100B expected


***Economic Data***
- (RU) Russia Narrow Money Supply Narrow w/e Jan 21st: 7.52T v 7.64& prior
- (FI) Finland Q4 House Prices Q/Q: -0.3 v +1.1% prior; Y/Y: 3.0% v 1.8% prior
- (HU) Hungary Nov Retail Trade Y/Y: -4.1% v -3.2%e
- (ES) Spain Dec Producer Prices M/M: -0.1% v -0.5% prior; Y/Y: 2.7% v 2.8% prior
- (EU) ECB: 0.0M borrowed in overnight loan facility vs. 0.0M prior; 210.3b parked in deposit facility vs. 206.8B prior
- (TW) Taiwan Dec M2 Money Supply Y/Y: 3.7 v 3.3% prior; M1 Money Supply Y/Y: % v 3.7% prior
- (NL) Netherlands Jan Producer Confidence: -5.6 v -5.1e
- (DE) Germany Jan IFO Business Climate: 104.2 v 103.0e; Current Assessment: 108.0 v 107.3e; Expectations Survey: 100.5 v 98.5e
- (GR) Greece Nov Current Account: -850M v -684M prior
- (UK) Q4 Advanced GDP Q/Q: -0.3% v -0.1%e; Y/Y: 0.0% v 0.2%e
- (UK) Q4 Advanced Index of Services M/M: 0.0% v -0.1%e; 3M/3M: 0.6% v 0.5%e
- (GR) Greece Q3 Household disposable income: 33.2B v 37.2B y/y

Fixed Income:
- (ZA) South Africa sold total ZAR800M in I/L 2025, 2038 and 2050 Bonds

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

***Equities***
- Indices: FTSE 100 +0.10% at 6,273,
DAX +1% at 7,825, CAC-40 +0.60% at 3,772, IBEX-35 +0.50% at 8,711, FTSE MIB +0.40% at 17,832, SMI flat at 7,453, S&P 500 Futures +0.30% at 1,495

- European equity markets are mostly in positive territory, after opening broadly lower, as the German DAX has hit a new multi-year high, amid the release of better than expected IFO data. The FTSE 100 has lagged, as UK Q4 GDP missed market expectations. European banks are trading mostly higher ahead of the ECB's announcement related to LTRO payments. US companies due to report earnings later today include Honeywell and Procter & Gamble.

- UK movers [IAG +2% (broker commentary); LSE -1% (broker commentary), Anglo American -0.50% (Q4 production update)]
- Germany movers [Bayer +4% (broker commentary),TUI AG +1.5% (broker commentary) ;Salzgitter -2.5% (broker commentary), Wacker Chemie -1.5% (broker commentary),K+S -0.90% (broker commentary)]
- France movers [STMicroelectronics +4% (broker commentary),Credit Agricole +2% (asset sale),Technip +1.7% (broker commentary)]
- Italy movers [Banca Monte Paschi +7% (largest shareholder to support capital plan),Pirelli -2.5% (broker commentary)Saipem -1.6% (broker commentary)]
- Switzerland movers [Clariant +2.5% (broker commentary)]
- Dutch movers [SNS Reaal +9% (talks with possible investors),Akzo Nobel +0.30% (broker commentary)]

Speakers:
- IMF's Lagarde commented in Davos that the global economy was showing a timid recovery
and would be slightly better in 2013 but uncertainties did remain that included events like EMU crisis, US Debt and fiscal negotiations, BOJ policies and China. Central banks have been acting as fireman and action by them still needed. Unclear when govt would take over the baton from central banks. ECB had a little room to tweak rates if necessary
- ECB's Draghi commented in Davos that 2012 was the year of the re-launching of the Euro but more work needed to be done on the real side of the economy as the positive contagion on markets had yet to be transmitted into the real economy. Govt made extraordinary fiscal consolidation progress with fruits of such move were now being seen. Govt should be given credit for what they have done but the process of restarting European integration received momentum. OMT bond buying announcement was helpful in removing tail risk and the LTRO operations helped to tackle the banking sector funding problem. Market have experienced a renewed sense of tranquility and overcoming fragmentation was priority in 2013. He reiterated that EMU to have recovery in H2 2013 (in line with ECB press conference views)
- German IFO economists noted that domestic economy was making promising start to the year and forecasted Q1 GDP growth at 0.2% and added that a recession in country was not expected. German companies were starting to feel the effect from an easing in the EMU crisis as optimism was rising. Both capacity utilization and industrial output were rising. German Exporters had no fear of a currency war but could be a problem at some point.
- German BDB Banking Assoc Kemmer commented that Germany was seen presenting a proposal to split banks in the next 3-months
- Fitch commented on Portugal that its recent 5-year bond issue credit positive. The fall in Portuguese bond yields and successful bond issuance suggested that one of the positive rating triggers identified in our November review - a moderation of the Euro zone crisis - was having a positive effect on Portugal's fiscal financing position. Further evidence that the internal adjustment was working as planned, with continued reduction in the current and fiscal deficits, would lead to the Outlook being revised to Stable from Negative. It expected Portugal would not gain full market access before IMF-EU program ended (expected in 2013). Portugal will need additional funding support and a new program. Political risk remained significant
- UBS's Weber noted that the global economy bottomed out at the end of 2012. All fiscal and monetary policies were on extremely expansionary paths , which brought some risks. 2013 GDP for Europe would be just above flat y/y but was bullish on EU companies with exposure to China
- Finland President Niinistoe: EUR exchange rate too high
- France Labor Min Sapin: Domestic labor market remains "bad"
- Greece Asset development program chief Athanasopoulos commented that asset sales program was a key tool for growth and targeted 25B in asset sales by 2020
- DMO published results of consultation meeting with GEMMS (Gilt Edged Market Makers) with investors wanting more linkers sales in 2013-14. Gilt investors broadly content with maturity split, but govt consultations added to uncertainty

Currencies:
- The focus of the session was on the ECB LTRO repayment announcement.
Ahead of the announcement the Euro continued to exhibit strength across the major currency pairs with accounts positioning for more evidence that conditions in the euro zone were improving. German Jan IFO data did come in better-than-expected across the board. The EUR/USD and EUR/GBP pairs were at 11-month highs. The EUR/USD was firmly above the 1.34 handle. The Euro's resilience appeared based on the market's growing concern that LTRO repayments will be larger than expected (thus reducing the ECB balance sheet / tightening more than expected
- JPY extended to new trend lows after a weak CPI reading added further justification of Japan's more activist policy stance and pressure for BOJ actions. Japanese officials also rejected charges they were manipulating the exchange rate. The USD/JPY was at fresh 2 year highs as it approach the 91 handle while EUR/JPY cross tested above 122 level.
- GBP weaker after disappointing GDP data and hit a 5-month lows below 1.5750 level. There was chatter that the UK QoQ GDO might register a positive reading but it came in at -0.3% and below expectations

Political/ In the Papers:
- (EU) EU's Rehn: EU will decide on aid for Portugal and Ireland in mid April; evaluating many different types of aid; unclear whether the Euro is overvalued but currency wars must be avoided; Eurozone nations need skin in the game in bank recapitalizations; need substantial reduction in Cyprus sovereign and bank debt burdens; Cyprus bank problems pose systemically important risks for Europe.
- (EU) German Foreign Min Westerwelle says Eurozone crisis now past lowest point
- (EU) George Soros: Euro is here to stay and likely to appreciate as others seek to devalue via currency wars; Yen depreciation from BOJ policy is 'real' - Davos comments
- (IE) Ireland Debt Agency (NTMA): Successful T-bill auctions show that the govt has regained normal market access at the short end of the curve; Will probably go ahead with long term syndicated bond before resuming regular bond auction schedule; Access to the OMT bond buying program would be a positive factor.
-(ES) Spain PM Rajoy announces the extension of benefits to long-term unemployed until the unemployment rate drops below 20% -ABC
- (ES) Spain may extend short-selling ban on bank stocks - Spanish Press
-(NL) Netherlands PM Rutte: Confident his government will finish entire term.

***Looking Ahead***
***All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- 06:00 (EU)ECB announces size of weekly repayments of 3-year LTRO
- 06:00 (IC) Iceland to Sell Bonds
- 06:10 (UK) DMO to sell combined 2.5B in 1-month, 3-month and 6-month Bills
- 06:30 (US) Daily Libor fixing
- 06:30 (IN) Weekly India Forex Reserves
- 07:30 (BR) Brazil Dec Total Outstanding Loans (BRL): No est v 2.304T prior; Loans M/M: No est v 1.5% prior; Private Banks Lending (BRL): No est v 1.220T prior; Personal Loan Default Rate: No est v 7.8% prior
- 07:30 (TR) Turkey Jan Industrial Confidence: No est v 97.9 prior; Capacity Utilization: No est v 73.6% prior
- 08:30 (CA) Canada Dec Consumer Price Index M/M: -0.2%e v -0.2% prior; Y/Y: 1.2%e v 0.8% prior; Consumer Price Index: 121.6e v 121.9 prior
- 08:30 (CA) Canada Dec CPI Core M/M: -0.2%e v 0.0% prior; Y/Y: 1.4%e v 1.2% prior
- 09:00 (MX) Mexico Dec Preliminary Trade Balance: $0.9Be v -$1.3B prior
- 10:00 (US) Dec New Home Sales: 385Ke v 377K prior
- 11:00 (US) Fed to purchase $3.00-3.75B in Notes
- 12:00 (FR) France Dec Net Change Jobseekers: +25.0Ke v +29.3K prior; Total Jobseekers: 3.155Me v 3.1323M prior
- 14:00 (AR) Argentina Dec Shop Center Sales Y/Y: No est v 3.2% 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."



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