User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday February 15, 2013 - 11:03:11 GMT
Trade the News Staff -

Share This Story:
| | Email EU Market Update: G20 will not single out countries in FX in communiqué EU Market Update: G20 will not single out countries in FX in communiqué
Fri, 15 Feb 2013 5:43 AM EST

- G20 members likely to pledge to avoid competitive currency devaluations; will not single out Japan

- RBA's Edwards: AUD currency is very high and hurting exporters
- BOJ Monthly Economic Report raised its assessment for the second straight month as economy appeared to have stopped weakening
- Japan PM mulls 2 candidates for BoJ Gov position (Muto or Iwata) . Muto sad to be leading and seen as more moderate candidate
- German Bundesbank's Weidmann: Euro is not overvalued'; Draghi was not talking down the Euro; ECB will not cut interest rates just to weaken the Euro
- Meteorite crash in Russia urals injures hundreds

***Economic Data***
- (RU) Russia Narrow Money Supply w/e Feb 11th (RUB): 7.37T v 7.33T prior
- (ES) Spain Jan Consumer Price Index M/M: -1.3% v -1.4%e; Y/Y: 2.7% v 2.6%e
- (ES) Spain Jan CPI EU Harmonized M/M: -1.8% v -1.9%e; Y/Y: 2.8% v 2.8%e
- (ES) Spain Jan Core CPI M/M: -1.6% v -1.8%e; Y/Y: 2.2% v 2.1%e
- (TR) Turkey Nov Unemployment Rate: 9.4% v 9.3%e
- (CZ) Czech Dec Export Price Index Y/Y: -0.7% v +0.3% prior; Import Price Index Y/Y: -0.6% v +1.3% prior
- (DK) Denmark Jan Wholesale Prices M/M: -0.5% v -0.4% prior; Y/Y: 1.6% v 2.9% prior
- (FI) Finland Dec Current Account -€500M v +€200M prior
- (EU) ECB: €122.0M borrowed in overnight loan facility vs. €23.0M prior; €124.3B parked in deposit facility vs. €125.6B prior
- (SE) Sweden Q4 Industry Capacity: 84.5% v 86.5%e
- (IT) Italy Dec Total Trade Balance: €2.2B v €3.1Be; Trade Balance EU: -€1.2B v +€0.5B prior
- (NO) Norway Jan Trade Balance (NOK): 33.5B v 35.2B prior
- (IT) Italy Dec General Government Debt: €1.9880T v €2.021T prior
- (UK) Jan Retail Sales Ex Auto Fuel M/M: -0.5% v +0.5%e; Y/Y:0.2% v 1.6%e
- (UK) Jan Retail Sales w/Auto Fuel M/M: -0.6% v +0.5%e; Y/Y: -0.6% v +0.9%e

- (EU) Euro Zone Dec Trade Balance Seasonally Adj: €12.0B v €11.5Be; Trade Balance unadj: €11.7B v €13.1Be
- (IT) Italy Dec Current Account: €2.4B v €0.7B prior
- (BR) Brazil Feb FGV Inflation IGP-10 M/M: 0.3% v 0.4%e
- (GR) Greece Jan CPI EU Harmonized Y/Y: 0.0 v 0.3% prior

Fixed Income:
- (IN) India sold total INR120B vs. INR120B indicated in 2020, 2025 and 2042 bonds
- (ZA) South Africa sold total ZAR800M in I/L 2025, 2038 and 2050 Bonds


Indices: FTSE 100 -0.10% at 6,32
2, DAX -0.10% at 7,622, CAC-40 +0.10% at 3,681, IBEX-35 -0.10% at 8,240, FTSE MIB +0.10% at 16,558, SMI +0.10% at 7,492

- European equity markets are mixed, amid the declines in EUR/JPY, as markets focus on G20 commentary. In London, the FTSE retail index is lower by over 1% on weaker than expected Jan retail sales. Firms which reported earnings on the session included Commerzbank, Eni and PPR.

- UK movers [Anglo American +2% (raised dividend),Darty -8% (guided lower), LSE -6.5% (LCH unit FY results missed some ests),Johnson Matthey -1.5% (revised agreement with Anglo Platinum)]
- Germany [Deutsche Telekom -1.5% (concerns about MetroPCS transaction)]
- France movers [PPR +5 (FY results above ests)]
- Italy movers [Eni +2% (FY results above ests, raised dividend); Finmeccanica -2.5% (broker commentary)]
- Dutch movers [Aegon +4% (FY results above ests)]

- German Bundesbank's Weidmann commented ahead of the European open that the Euro was not overvalued and ECB chief Draghi was not talking down the Euro.
Weidmann added that the ECB would not cut interest rates just to weaken the Eur. The currency was only one factor in gauging inflation and that the ECB would abstain from manipulation of the Euro. He also noted that higher market rates were no cause for concern and had no reason to doubt ECB baseline scenario as data suggested gradual economic recovery in H2 2013. He hoped the ECB will not buy bonds under the OMT program but ECB might be forced to show its hand in the program. On other topics he stated that Cyprus needed a substantial bail-in while the Ireland promissory note swap might yet fall foul of ECB treaty rules; transaction come dangerously close to contravening a ban on monetary financing of govts. Lastly he reiterated that resignation rumors are unsubstantiated
- ECB's Draghi commented at G20 that Euro exchange rate was not a policy target and reiterated that it would never pre commit on interest rates. He added that chatter on exchange rates was self-defeating but would look at FX impact on growth and price stability. He reiterates view that Euro exchange rate was around the long term average (**Note 0.82 to 1.60 is the historical range. He stated that he did not believe that inflating budget deficits to create demand was sustainable **Note: Comments in line with the Feb ECB post rate decision press conference)
- ECB's Asmussen (Germany) reiterated G7 stance that currencies should be market based, without fixed targets and that talk of a currency war was exaggerated. Discussions over exchange rates should not distract from the need to implement reforms, Germany and France have special responsibility to follow stability and growth pact
- ECB's Nowotny: Euro zone economy may contract 0.2-0.3% in 2013
- Russia Dep Fin Min commented that G20 currency statement would difficult to draft but would avoid harsh language, not use phrase currency wars or mention Japan . He noted that Japan trade partners showed a muted response to its intention to see a weaker yen.
- Treasury's Brainard: Important that all G7 nations obey rules of the road in currencies; Must avoid downward spiral of beggar-thy--neighbor FX policy. G20 will not single out countries in FX in communiqu
- Japan Shirakawa reiterates that Japan's monetary policy aimed to beat deflation. Weaker JPY currency was due to receding risk aversion among investors
- Russia Central Bank Head Ignatiev reiterates that rate cuts were possible but remained dependent on inflation outlook, Russia central bank was not part of Cyprus aid talks.
- German Fin Min Schaeuble commented that he did want state intervention in exchange rates and sought market-orientated rates. He did add that there was a consensus at G20
- Brazil Fin Min Mantega: Currency war is evident at this time; G20 needs to do more than just rhetoric on banning currency manipulation. Stimulating economic growth and global trade were solutions and added it was time for Europe to ease fiscal restraints. Brazil would not allow over-appreciation of the BRL currency (real)
- Australia Treasurer Swan: G20 had always advocated market-based Fx rates. G20 had no debate on deployment of monetary policy. China has been moving to market based currency.
- EU Commissioner Rehn stated to the EU Parliament that G20 should focus more on structural reforms rather than short-term fiscal and monetary stimulus. He noted that EU economy to gather momentum later in year and that German domestic demand was mustering strength
- Portugal PM Coelho: Structural reforms take time to deliver results. If foreign demand remained low it would not be able to maintain economic projections for 2013. Might revised GDP forecast die to slower exports
- German Govt Advisor Bofinger (wiseman) commented that German growth in 2012 was mainly due to US President Obama fiscal policy as 20% of German growth came through exports to US. He added that Germany should refrain from harsh criticism of US fiscal policy
- OECD chief Gurria: Monetary policy should be kept loose, but sees diminishing returns for looser monetary policy; EU recovery likely to be delayed by 6-12 months
- Indonesia Dep Central Bank Sarwono commented that there were no big concerns over JPY currency devaluation at this time as Indonesia benefited from stronger Japanese domestic demand
- Italy PM Monti: Italy bond yields were at natural levels and he had to worsen the recession to help bring down bond yields

- The EUR/USD began the session at its highs following comments from German Bundesbank's Weidmann that the Euro was not overvalued and Draghi was not talking down the Euro at the press conference last week. Additionally ECB would not cut interest rates just to weaken the Euro. The pair tested 1.3393 after the comments but drifted lower afterwards. However, Dealers pointed out that ECB could be cutting because Europe was in recession and had an excuse for such action (**yesterday Prelim Q4 readings). The EUR/USD approached the NY morning just off its lows of 1.3308
- The JPY firmed during the Asian session as Toshiro Muto was said to be the leading candidate for the next BOJ Gov. Muto is viewed by markets as 'less dovish' compared to other potential candidates. The JPY did encounter spats of softness as commentary emerge out of the G20 meeting in Moscow. Consensus at this time is that G20 currency statement would avoid harsh language and not single out Japan for its attempt to weaken the yen.
- The softer UK retail sales data push the GBP/USD back below the 1.55 handle and near 6-month lows.
- Spot gold hits 6-month lows below $1,626/oz. Investor Dennis Gartman said to be moving out of the metal and into copper

In the Paper:
- G20 communiqudraft indicates G20 members will pledge to avoid competitive currency devaluations; Group committed to lowering imbalances. Committed to avoiding FX rate 'misalignment'; members will resist protectionism in all forms. The group noted that risks remain and global growth is still weak
- (EU) EU's Rehn: Ongoing economic weakness in Europe is related to the continuing deleveraging process; must continue fiscal consolidation
- (EU) S&P sovereign analysts Kramer: Spain, Italy and France could all be downgraded this year; UK sovereign downgrade not a foregone conclusion

***Looking Ahead***
***All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- G20 Finance Ministers and Central Bank Governors Meeting
- (PE) Peru Jan Unemployment Rate: 5.9%e v 5.6% prior
- (PE) Peru Dec Economic Activity Index Y/Y: 6.0%e v 6.8% prior
- (CO) Colombia Jan International Reserves: No est v $37.5B prior
- 06:00 (FI) Finland Govt to face no confidence vote over economic policy
- 06:00 (PT) Portugal Q4 YTD Labour Costs: No est v 1.1% prior
- 06:00 (EU) Weekly ECB announcement of early repayment of 3-year LTRO funds
- 06:10 (UK) DMO to sell 2.5B in 1-month, 3-month and 6-month Bills
- 06:30 (US) Daily Libor Fixing
- 06:30 (IN) India Weekly Forex Reserves
- 07:00 (IS) Israel Jan Consumer Prices M/M: 0.0%e v 0.2% prior; Y/Y: 1.6%e v 1.6% prior
- 07:00 (IC) Iceland Jan Unemployment Rate: No est v 5.7% prior
- 08:00 (PL) Poland Jan CPI M/M: 0.3%e v 0.1% prior; Y/Y: 2.0%e v 2.4% prior
- 08:30 (CA) Canada Dec Manufacturing Sales M/M: -0.8%e v +1.7% prior
- 08:30 (US) Feb Empire Manufacturing: -2.00e v -7.78 prior
- 09:00 (PL) Poland Jan YTD Budget Level (PLN): No est v B prior; Budget Performance: No est v % prior
- 09:00 (BE) Belgium Dec Trade Balance: No est v -€751.6M prior
- 09:00 (US) Dec Total Net TIC Flows: No est v $27.8B prior; Net Long-term TIC Flows: $42.5Be v $52.3B prior
- 09:00 (CA) Canada Jan Existing Home Sales M/M: No est v -0.5% prior
- 09:15 (US) Jan Industrial Production: 0.2%e v 0.3% prior; Capacity Utilization: 78.9%e v 78.8% prior; Manufacturing Production: 0.0%e v 0.8% prior
- 09:55 (US) Feb Preliminary University of Michigan Confidence: 74.8e v 73.8 prior Jan Final

- 09:55 (US) Fed member Pianalto speaks on economy in Florida
- 10:50 (UK) BOE member Weale
- 13:00 (EU) ECB member Constancio
- 14:00 (AR) Argentina Dec Economic Activity Index M/M: No est v 0.4% prior; Y/Y: No est v 1.8% prior
- 14:00 (AR) Argentina Jan Consumer Price Index M/M: No est v 1.0% prior; Y/Y: No est v 10.8% prior
- 14:00 (AR) Argentina Jan Wholesale Price Index M/M: No est v 0.9% prior; Y/Y: No est v 13.1% prior

- Cyprus Presidential election




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 3 Dec 2018
A All Day Final Mfg PMIs
Tue 4 Dec 2018
A 04:30 AU- Reserve Bank Decision
Wed 5 Dec 2018
A All Day Final SVC PMIs
A 04:30 AU- CPI
A 13:15 US- ADP Jobs
A 13:30 US- Productivity
A 15:00 CA- Bank Of Canada Decision
A 15:30 US- EIA Crude
B 19:00 US- Beige Book
Thu 6 Dec 2018
AA 12:45 EZ- ECB Decision
AA 13:30 US/CA- Trade
A 13:30 US- Weekly Jobless
Fri 7 Dec 2018
A 10:00 EZ- GDP
AA 13:30 US/CA- Employment
A 15:00 US- Final Univ of Michigan

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