User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday February 7, 2013 - 11:16:17 GMT
Trade the News Staff -

Share This Story:
| | Email EU Market Update: Spain sells more than expected despite political concerns in bond auction although at a higher cost; UK production data beats expectations; Incoming BOE Gov Carney p EU Market Update: Spain sells more than expected despite political concerns in bond auction although at a higher cost; UK production data beats expectations; Incoming BOE Gov Carney presents a more hawkish tone
Thu, 07 Feb 2013 5:38 AM EST

- Australia Jan Employment data comes in better-than-expected

- India GDP suffers a big miss at 5.0% vs. 5.5%e
- -OECD's Gurria: BoE should buy more debt if UK growth is still weak
- Chancellor Osborne calls for looser BOE monetary policy to increase economic growth
- Irish Govt plans to liquidate Anglo Irish as part of Bank solution
- ECB's Draghi not expected to surprise markets to press conference; Dealers FX topic more appropriate at upcoming G20 meeting
- UK Dec Industrial and Manufacturing Production data comes in better than expected
- Spain sells more than expected despite political concerns in bond auction although at a higher cost
- BOE Governor-Designate Carney comments to Parliament turn more hawkish than is Davos views from a few week ago

***Economic Data***
- (ZA) South Africa Jan Gross Reserves: $51.2 v $51.0Be; Net Reserves: $48.1 v $48.0Be
- (CH) Swiss Jan SECO Consumer Confidence: -6 v -12e
- (FI) Finland Dec Preliminary Trade Balance: -735M v +180M prior
- (FR) France Dec Trade Balance: -5.4B v -4.2Be
- (TW) Taiwan Jan Total Trade Balance: $0.5B v $3.5Be

- (HU) Hungary Dec Preliminary Industrial Production M/M: -2.5% v -0.4% prior; Y/Y: -3.4% v -4.0%e
- (DK) Denmark Dec Industrial Production M/M: -3.8% v 0.0%e; Industrial Orders M/M: -14.4% v +5.9% prior
- (CH) Swiss Jan Foreign Currency Reserves (CHF): 427.0B v 428.3Be
- (ES) Spain Dec Industrial Output WDA Y/Y: -6.9% v -6.9%e; Industrial Output NSA Y/Y: -8.5% v -7.0% prior
- (EU) ECB: 2M borrowed in overnight loan facility vs. 105M prior; 162.1B parked in deposit facility vs. 178.0B prior
- (SE) Sweden Dec Average House Prices (SEK): 2.160 v 2.091M prior
- (SE) Sweden Jan Budget Balance (SEK): -96.3B v -79.3B prior
- (SG) Singapore Jan Foreign Reserves: $258.9B v $259.3B prior
- (CZ) Czech Jan International Reserves: $45.8B v $44.9B prior
- (HK) Hong Kong Jan Foreign Currency Reserves: $321.0B v $317.3B prior
- (DE) Germany Q4 Wages Y/Y: +3.2% v 3.0% prior
- (UK) Dec Industrial Production M/M: 1.1% v 0.9%e; Y/Y: -1.7% v -2.0%e
- (UK) Dec Manufacturing Production M/M: 1.6% v 0.8%e; Y/Y: -1.5% v -2.4%e
- (UK) Dec Visible Trade Balance: -8.9B v -8.9Be; Total Trade Balance: -3.2B v -3.2Be; Trade Balance Non EU: -4.2B v -4.2Be

- (ZA) South Africa Jan SACCI Business Confidence: 94.0 v 93.0 prior
- UN Foods and Agricultural Organization (FAO): Jan Food Price Index: 210.0 v 209.0 prior

Fixed Income
- (ES) Spain Debt Agency
(Tesoro) sold total 4.61B vs. 3.5-4.5B indicated range in 2015, 2018 and 2029 Bonds
- Sold 1.948B in March 2.75% 2015 Bono bond; Avg Yield 2.823% v 2.476% prior; Bid-to-cover: 2.21x v 2.07x prior; Maximum Yield 2.889% v 2.58% prior; Tail 6.6bps v 11.1bps prior
- Sold 2.07B in Jan 4.5% 2018 Bono Bond; Avg Yield 4.123% v 3.770% prior; Bid-to-cover: 2.24x v 2.32x prior; Maximum Yield 4.169% v 3.808% prior; Tail 4.6bps v 3.8bps prior
- Sold 593M in 6% Jan 2029 bonds; Avg Yield: 5.787% v 4.86% prior, bid-to-cover 2.02x v 2.22x prior; Maximum Yield 5.822%; Tail 3.5bps
- (FR) France Debt Agency (AFT) sold total 7.98B vs. 7.0-8.0B indicated range in Oats
- Sold 1.77B in 2.5% 2020 Oats; Avg Yield 1.83% v 2.91% prior; Bid-to-cover: 3.64x v 3.99x prior
- Sold 3.02B in 2.25% Oct 2022 OAT; Avg Yield 2.30% v 2.07% prior; Bid-to-cover: 3.09x v 1.72x prior
- Sold 3.19B in 2.75% Oct 2027 OAT ; Avg Yield 2.85% v 2.56% prior; Bid-to-cover: 1.79x v 3.53x prior
- (HU) Hungary Debt Agency (AKK) sold total HUF50B in 2016, 2018 and 2023 Bonds


Indices: FTSE 100 +0.10% at 6,299,
DAX +0.25% at 7,600, CAC-40 +0.40% at 3,655, IBEX-35 +0.90% at 8,130, FTSE MIB +0.70% at 16,725, SMI -0.40% at 7,407, S&P 500 Futures +0.20% at 1,509

- European equity markets are mostly higher, as traders digest the plethora of earnings results released during the session and bond auction results out of Spain. Markets are also focusing on upcoming interest rate decisions from the BoE and ECB. In terms of sectors, banks are mixed. French, Italian and Spanish banks have outperformed while German and UK financials have underperformed. Resource-related companies are mixed, in line with what has been seen with commodity prices.

- Germany movers [Lanxess +4% (takeover speculation),HeidelbergCement +4% (Q4 results),Daimler +2.8% (Q4 results, reaffirmed dividend),Air Berlin +2.5% (Jan traffic data),Hochtief +1.7% (ACS mulling sale of solutions unit);Wacker Chemie -1.4% (Q4 results)]
- UK movers [Punch Taverns +25% (reviewing capital structure),Thomas Cook +10.5% (Q1 results), SuperGroup +8% (Q3 sales) Ocado +6.5% (FY results), Bellway +4% (trading update), Vodafone +2% (Q3 sales), Smith & Nephew +0.60% (Q4 results);Burberry -4% (planned CFO change), ICAP -1.4% (Q3 update)]
- France movers [Alcatel-Lucent +6.5% (Q4 results, CEO change),Scor +4% (Jan premiums data),Dassault Systems +1% (Q4 sales); Sanofi -2.3% (Q4 results)]
- Italy movers [Saipem +5.5% (expected to issue statement on FY13 guidance), Banca Monte Paschi +4% (derivatives update), Telecom Italia +1.6% (ahead of prelim results)]
- Switzerland movers [Credit Suisse +2% (Q4 results, cost cuts)]

- BOE Governor-Designate Carney commented to lawmakers that BoE must exit unconventional policy
and improve monetary and macro prudential coordination. Needed to maintain GBP currency integrity. Absence of currency target did not mean BoE should be indifferent to FX price movements and the BoE could intervene on currencies as needed. Up to G20 to ensure that all important FX adjustments were appropriate
- Luxembourg PM Juncker commented that he saw an agreement on the EU's 2014-2020 budgets today as countries posiions have neared. He noted that EU President Van Rompuy would need to reduce the budget again but there are lower limits
- Chancellor Osborne called for looser monetary policy to increase economic growth noting that decisive moves by govt on deficit meant that BOE monetary action should continue to support the economy
- France Fin Min Moscovici: There must be reform of global monetary system; Must not put pressure on the ECB but added that the Euro at current levels could cost France GDP 0.3%
- France Trade Min Bricq: Hopes for an European foreign exchange policy; If Euro rises through 2013 if would have a clear export impact (**Note: in line with French President Hollande comment
- Norway Fin Min Johnsen: Reiterates that the European situation remains serious and has edged closer to the Nordic region
- PM Monti might be appointed to Senate Speaker after Italian elections (country's second higest political post). This would make him potentially making him to succeed President Napolitano when his term expired later in 2013
- Japan Vice Fin Min Nakao stated that deflation meant that Japan was suffering from high real interest rates and the govt central goal was to get out of deflation
- India Central Bank (RBI) Gov Subbarao had no comment on interest rates (following weaker GDP data) but did noted it would take into account advanced GDP numbers when making policy decisions. He also added that he was taking note of Govt fiscal consolidation efforts
- India Fin Min Chidabaram: Will continue to take measures to revive economic growth
- Iran Supreme Leader said to reject US offer of talks

- Dealers expected FX price action to be Range bound ahead of the key rate decisions from the BOE and ECB but European currencies drifted higher. Optimism over an EU budget agreement helped to put an initial bid in the Euro and was further aided by a decent Spanish bond auction. Spain managed to sell more than expected despite political concerns in bond auction although at a higher cost. Spain debt auction was seen as an important test of sentiment against the backdrop of financial scandal surround PM Rajoy. EUR/USD tested 1.3570 ahead of the NY morning.
- EUR/JPY received a lift after Taiwan's Trade Balance showed a healthy improvement in its exports to China. The pair stalled after Taiwan noted that its exports rose largely because factories were closed for about a week due to the Lunar New Year holiday in this same period last year.
- On the topic of currencies dealers felt that the topic would not be addressed by Draghi at today's press conference and issue would be more appropriate at upcoming G20 meeting. In the past the ECB has noted iot did not have an Euro FX target.
- UK markets became volatile as BOE Governor-Designate Carney began his comments to Parliament. The incoming Gov tone was more hawkish compared to Davos views from a few week ago. The GBP/USD surged 100pips after he noted that BoE must exit unconventional policy. UK Gilt yield moved higher by 5bps to test 2.14%. The price action did moderate a bit as he clarified his views

Political/ In the Papers:
- (EU) Finland PM Katainen: Not supportive of the France President Hollande's call for an FX rate policy; reform is necessary to increase competitiveness
- (EU) ECB's Coeure (France): Bank regulation can improve quality of monetary policy - Op-Ed German press
- (DE) Germany Deputy Fin Min Kampeter: We may use its healthcare fund surplus for up to 4.0B to help balance the 2014 budget - Rheinische Post; State bank KfW could contribute to the effort to consolidate the budget.
- (GR) Greece Fin MIn: 2013 to be a difficult year; Economic recovery can start at end of 2013 as investors and savers regain confidence; Not easy to change bank recap terms
- (GR) Greece Fin Min Stournaras: the high level of the euro is concerning - TV interview
- (IE) Ireland Fin Min Noonan: There is still no ECB deal on Anglo Irish promissory Notes - financial press; There will not be a fire sale of Anglo Irish assets; There will not be a fire sale of Anglo Irish assets.
- (IE) Ireland Lower House approves Bill to liquidate former Anglo Irish Bank - financial press
- (IT) Bank of Italy lent almost 2B to Monte dei Paschi in 2011 - financial press
-Monte Paschi [BMPS.IT]: Reports final derivatives loss 730.3M v prelim estimate 720M - update
- (UK) London Telegraph's previews today's parliamentary testimony from incoming BoE Gov Carney; Suggests Gilts could sell off and the pound could rally if Carney raises concerns about inflation; Says Carney could be more neutral than the market currently expects, and suggest that policy will be data dependent.
- (UK) OECD: Inflation risks are low in the UK, BOE should purchase more bonds and fiscal policy flexibility should be increased; Forecasts 2013 GDP at 0.9%

***Looking Ahead***
***All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- (EU) EU Leaders hold Summit in Brussels
- (RU) Russia Jan Official Reserve Assets: No est v $537.6B prior
- (IS) Israel Jan Foreign Currency Balance: No est v $75.9B prior
- 06:00 (RU) Russia Gold & Forex Reserve w/e Feb 1st: No est v $530.7B prior
- 06:00 (DE) Germany Dec Industrial Production M/M: 0.2%e v 0.2% prior; Y/Y: -0.5%e v -2.9% prior
- 06:00 (ZA) South Africa Dec Manufacturing Production M/M: -0.8%e v +2.3% prior; Y/Y: 2.6%e v 3.4% prior
- 06:00 (BR) Brazil Jan IBGE Inflation IPCA M/M: 0.8%e v 0.8% prior; Y/Y: 6.1%e v 5.8% prior
- 06:30 (CL) Chile Jan Trade Balance: -$120Me v $1.5B prior; Total Exports: No est v $7.7B prior; Total Imports: No est v $6.2B prior
- 06:30 (CL) Chile Jan Copper Exports: No est v $4.7B prior
- 06:30 (US) Daily Libor Fixings
- 07:00 (UK) Bank of England (BOE) Interest Rate Decision: expected to leave both Interest Rates and Asset Purchase Target unchanged at 0.50% and 375B respectively
- 07:45 (EU) ECB Interest Rate Decision: expected to leave Main Refi Rate unchanged at 0.75%; Expected to also leave Deposit Facility Rate unchanged at 0.00%

- 08:00 (PL) Poland Jan Total Official Reserves: No est v $108.9B prior
- 08:30 (US) Q4 Preliminary Nonfarm Productivity: -1.0%e v +2.9% prior; Unit Labor Costs: +2.5%e v -1.9% prior
- 08:30 (US) Initial Jobless Claims: 360Ke v 368K prior; Continuing Claims: 3.197Me v 3.197M prior

- 08:30 (CA) Canada Dec Building Permits M/M: +5.0%e v -17.9% prior
- 08:30 (CA) Canada Dec New Housing Price Index M/M: 0.1%e v 0.1% prior; Y/Y: 2.2%e v 2.2% prior
- 08:30 (EU) ECB chief Draghi post rate decision press conference
- 08:30 (US) Net Export Sales data
- 09:00 (MX) Mexico Jan Consumer Prices M/M: 0.3%e v 0.2% prior; Y/Y: 3.2%e v 3.6% prior; CPI Core M/M: 0.3%e v 0.1% prior
- 09:00 (RO) Romania to sell Bonds
- 09:30 (US90) Fed's Stein Speaks on Household Balance Sheets in St. Louis
- 09:30 (US) Weekly Commercial Paper stats
- 10:00 (UK) Jan NIESR GDP Estimate: No est v -0.3% prior
- 10:00 (MX) Mexico Jan Vehicle Production: No est v 180.6K prior; Vehicle Domestic Sales: No est v 110.9K prior; Vehicle Exports: No est v 154.7K prior
- 10:30 (US) IMF ECB symposium
- 10:30 (US) Weekly EIA Natural Gas Inventories
- 11:00 (US) Fed to buy $1.25-1.75B in bonds
- 14:00 (UK) BOE Jenkins
- 18:50 (JP) Japan Dec Total Current Account: No est v -222.4B prior; Adjusted Current Account: No est v +225.9B prior
- 18:50 (JP) Japan Dec Trade Balance: No est v -847.5B 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.

Register To Test Your Amazing Trader

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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

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