User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday March 14, 2013 - 10:34:01 GMT
Trade the News Staff -

Share This Story:
| | Email EU Market Update: SNB maintains policy stance; Norway Central Bank cuts Rate Path Outlook; Spain special bond sale come in below analysts' target range EU Market Update: SNB maintains policy stance; Norway Central Bank cuts Rate Path Outlook; Spain special bond sale come in below analysts' target range
Thu, 14 Mar 2013 6:04 AM EST

- New Zealand central bank leaves Cash Rate unchanged (as expected) but cuts GDP outlook; says strong Kiwi currency is a significant concern
- South Korea Central Bank (BOK) leaves 7-Day Repo Rate unchanged at 2.75% (as expected but was not unanimous); Analysts see rate cut ahead as economy stagnates
- Australia Feb Employment data registers highest monthly increase in a decade; CPI hits 5-month high; Markets respond by re-pricing expectations of another RBA easing, sending Australian equities down by 1%.
- Japan lower house lawmakers endorse Kuroda as next BoJ Gov; Also approve Nakaso and Iwata as BoJ Dep Govs, as expected; Upper House vote on Friday
- China formally elects Xi as president. 3000 delegates and only 1 no vote.
- EU Summit Draft: EU to endorse plans for a structural assessment of member budgets (ie may allow some countries extra time on deficits)
- SNB leaves both Interest Rates and EUR/CHF Cross levels unchanged, as expected
- Norway Central Bank lowers outlook for its Deposit Rate Path and sees the next hike out further than previously anticipated

- Spain sells bonds in special auction at lower yields and strong bid-to-cover; but overall amount below analysts' soft target between 1-2B

***Economic Data***
- (JP) Japan Feb Final Machine Tool Orders Y/Y: -29.8% v -21.5% v prelim
- (IN) India Feb Monthly Wholesale Prices (WPI): 6.8% v 6.6%e
- (RU) Russia Feb YTD Budget Level (RUB): -259.5B v -81.3B priorto Budget Level to GDP Ratio: -2.7% v -1.8% prior
- (FI) Finland Feb CPI M/M: 0.6% v 0.5%e; Y/Y: 1.7% v 1.6% prior
- (FI) Finland Jan Final Retail Sales Volume Y/Y: +1.5 v -0.3% prelim
- (HU) Hungary Jan Final Industrial Production M/M: 2.9% v 2.9% prelim; Y/Y: -1.4% v -1.4% prelim
- (CZ) Czech Jan Retail Sales Y/Y: -0.5% v -2.2%e
- (ES) Spain Jan Adjusted Real Retail Sales Y/Y: -10.2% v -11.1%e; Real Retail Sales Y/Y: -9.0% v -10.2% prior
- (PH) Philippines Central Bank (BSP) leaves Overnight Borrowing Rate unchanged at 3.50%, as expected; Cuts Special Deposit Account Rate (SDA) by 50bps to 2.50%

- (EU) ECB: 197M borrowed in overnight loan facility vs. 16M prior; 112.9B parked in deposit facility vs. 149.6B prior
- (CH) SNB left the 3-Month Libor Target Rate range unchanged between 0.00-0.25% and maintained the floor in EUR/CHF at 1.2000, both as expected
- (NL) Netherlands Jan Trade Balance: 4.0B v 3.3B prior
- (NL) Netherlands Jan Retail Sales Y/Y: -0.5% v -4.1% prior
- (SE) Sweden Feb Unemployment Rate: 8.5% v 8.4%e; Unemployment Rate Seasonally Adj: 8.2% v 8.1%e
- (HK) Hong Kong Q4 Industrial Production Y/Y: +1.3% v -0.1% prior
- (HK) Hong Kong Q4 Producer Price Y/Y: -1.1% v -1.4% prior
- (NO) Norway Central Bank (Norges) left its Deposit Rate unchanged at 1.50%, as expected but lowered the Rate Path Outlook
- (CZ) Czech Jan Current Account: (CZK): 6.0B v 10.0Be
- (ZA) South Africa Jan Gold Production Y/Y: -8.1% v -21.2% prior; Mining Production Y/Y: +7.3% v -4.2%e
- (EU) Euro Zone Q4 Employment Q/Q: -0.3% v -0.1% prior; Y/Y: -0.8% v -0.6% prior
- (GR) Greece Q4 Unemployment Rate: 26.0% v 24.8% prior

Fixed Income:
- (ES) Spain Debt Agency (Tesoro) sold total 803M of 2029, 2040 and 2041 bonds in special auction

- Sold 134M in 6% Jan 2029 bonds; Avg Yield: 5.224% v 5.787% prior, bid-to-cover 4.1x v 2.02x prior; Maximum Yield 5.258% v 5.822% prior; Tail 3.4bps v 3.5bps prior
- Sold 304M in 4.9% 2040 Bono bond; Avg yield 5.434% v 5.893% prior, bid-to-cover 2.4x v 2.09x prior, Max Yield 5.445% v 5.928% prior; Tail 1.1bps
- Sold 365M in 4.70% July 2041 Bono bond; Avg Yield 5.432% v 5.696% prior; Bid-to-cover: 2.1x v 2.00x prior; Maximum Yield 5.454% v 5.705% prior; Tail 2.2bps v 0.9bps prior


FTSE 100 +0.20% at 6,496, DAX +0.70% at 8,028, CAC-40 +0.60% at 3,858, IBEX-35 +0.90% at 8,573, FTSE MIB +1% at 15,903, SMI +0.50% at 7,821, S&P 500 Futures +0.20% at 1,552

- European equity markets are mostly higher, tracking the gains in Asian and US markets. Today's gains have been led by the Italian FTSE MIB, as the index underperformed on Wednesday's session. Earlier during the session, the DAX index hit a fresh multi-year high near 8045. European banks are trading mixed. Outperformers include BNP and Santander, while shares of UK banks and Commerzbank have lagged. Resource related firms are mostly lower, despite the gains in oil and copper prices.

- UK movers [Home Retail +15% (SSS above ests), Ocado +12% (talks related to agreement with WM Morrison), Aggreoko +2.5% (supply agreement), William Morrison +1.5% (raised dividend)]
- Germany movers [Lufthansa +3% (guided FY13 op profit higher y/y), K+S +3% (Outlook above ests, short-covering), HeidelbergCement +2% (FY results above ests), Leg Immobilien +1% (broker commentary); SGL Carbon -3% (FY results below ests), Volkswagen -2.5% (reaffirmed FY13 guidance), Wacker Chemie -2% (guided FY13 profits lower y/y)]
- France movers [Altran +2.5% (swung to profit in FY12)]
- Italy movers [Generali +5% (guided FY13 op profit higher y/y), Eni +1.5% (asset sale)]
- Switzerland movers [Bucher +2% (FY results above sts), Holcim +1% (joint venture agreement); Oerlikon -2% (CEO resigned)]

- SNB statement following its rate decision reiterated its view to enforce EUR/CHF floor of 1.2000 with utmost determination and would be ready to take further measures if necessary
. CHF currency appreciation would have serious impact on economy and would compromise price stability. It added that it saw no risk to inflation in foreseeable future but downside risks for domestic economy remained considerable
- Norway Central Bank commented in its rate decision that the Key Rate would be kept low longer than previously anticipated with the first hike now seen in spring 2014. Inflation remained low and prospects that it would take longer for inflation to move up to the target level. Economic growth remained solid. NOK currency (krone) in line with Oct forecast
- ECB's Nowotny (Austria) commented that he expected momentum in EMU growth to improve over the course of 2013. He added that changes in monetary policy iwa not appropriate at this stage and would have been inappropriate to cut rates at the March policy meeting. Euro-Zone members' structural problems were improving
- ECB's Demetriades commented that Cyprus was a systemic risk and a bailout agreement needed to be in place by end of March. He added that inflation mid-point of 1.3% in ECB Staff Projections was not too low to require action
- ECB official commented that the Troika had noted that Greece made significant progress in reforms and the Troika would take a short break and return to Athens in early April to continue work as a few issues remained
- ECB Publishes Monthly Report mirrored the ECB press conference.
- Bank of Italy: Tells banks which have recorded a loss in 2012 or have Core Tier 1 Capital below the Central bank target not to pay a dividend
- German Institute IWH raised its 2013 GDP growth forecast to 1.3% from 0.7% prior
- Poland Central Banker Zielinska-Glebocka commented that the Central Bank should act if CPI was not as forecasted
- Greece Fin Min Stournaras commented in the press that it would not alter deadline and terms for banks to meet recapitalization requirements, it was all within the existing legal framework
- RBA's Kent commented that low interest rates were supportive to housing market and expected gradual increase in home building to help support economy over the next few years
- Japan PM Abe: Hyperinflation was not possible under current conditions
- Japan Vice Fin Min Yamaguchi stated that MOF would have to draft a stopgap budget to cover a period of 50 days

- Euro consolidation is move below the 1.30 handle in the session. The ECB monthly report reiterated that ECB policy to remain accommodative
- The JPY currency gradually weakened in the session with USD/JPY edging back to trend lows. All three candidates successfully passed the lower house vote, which will fuel expectations of more BoJ stimulus by early April. The upper house vote will take place on Friday.
- The USD/CHF pair hit a 6-month high when it tested above 0.9550. Analysts noted that SNB deflation concerns to keep CHF currency pressured after the central bank signaled concerns over global growth and deflation becoming more entrenched.
- The SEK currency weakened after the Swedish Feb Unemployment Rate climbed higher. The EUR/SEK cross popped above 8.36 in the session as a result before consolidating its loss

Political/In the Papers:
-(EU) European Commission presents plan to allow airline passengers to claim compensation only after a 5 hours delay (vs. 3 hours now)- El Mundo
-(PT) Portugal will embark upon a European road show over the next week to promote its sovereign debt
-(UK) BoE quarterly bulletin: Treasury likely to gain from Fin Min decision to claim gain from cash transfers
-(UK) BOE's Bailey: have not seen much impact from Moody's rating downgrade of the UK; Have not asked the govt to recapitalize RBS or Lloyds.
- (JP) IMF Deputy Director of Asia/Pacific Jerald Schiff: JPY has declined to long-run avg since middle 2012; Japan requires further easing to reach 2% target; BoJ must purchase longer dated JGBs, equities; Yen could at least temporarily go lower if the government's plan to reflate the economy succeeds.
- (JP) Japan PM Abe's Econ Advisor Hamada: USD/JPY at 98-100 is a good level; acceptable for BoJ to purchase 10-yr govt Bonds; JPY not weakening too quickly.

***Looking Ahead***
***All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (EU) Summit of EU heads of state and government in Brussels begins 2-day meeting.
- (CH) Basel Committee meeting on capital rules for banks
- (RO) Romania Jan Current Account: No est v -5.0B prior
- (SE) Sweden to sell SEK1.0B in 0.25% I/L 2022 Bonds
- 06:30 (HU) Hungary Debt Agency (AKK) to sell 12-Months Bills
- 07:00 (IE) Ireland Feb CPI M/M: No est v -0.5% prior; Y/Y: No est v 1.2% prior
- 07:00 (IE) Ireland Feb CPI EU Harmonized M/M: No est v -0.6% prior; Y/Y: No est v 1.5% prior
- 07:00 (IE) Ireland Jan Trade Balance: First Estimate: No est v 3.0B prior
- 07:00 (IS) Israel Q4 Current Account: No est v $800M prior
- 07:00 (RU) Russia Gold & Forex Reserve w/e Mar 8th (RUB): No est v $523.4B prior
- 07:00 (ZA) South Africa Jan Manufacturing Production M/M: +1.6%e v -2.2% prior; Y/Y: 2.7%e v 2.0% prior
- 07:30 (BR) Brazil Central Bank (COPOM) Monetary Policy Meeting Minutes
- 07:30 (US) Daily Libor Fixing
- 08:00 (BR) Brazil Jan Retail Sales M/M: +0.4%e v -0.5% prior; Y/Y: 5.5%e v 5.0% prior; Broad Retail Sales Y/Y: 8.0%e v 5.0% prior
- 08:30 (US) Q4 Current Account Balance: -$112.5Be v -$107.5B prior
- 08:30 (US) Feb Producer Price Index M/M: 0.7%e v 0.2% prior; Y/Y: 1.8%e v 1.4% prior
- 08:30 (US) Feb PPI Ex Food & Energy M/M: 0.1%e v 0.2% prior; Y/Y: 1.7%e v 1.8% prior
- 08:30 (US) Initial Jobless Claims: 350Ke v 340K prior; Continuing Claims: 3.090Me v 3.094M prior

- 08:30 (US) Weekly Net Export Sales data
- 08:30 (CA) Canada Q4 Capacity Utilization Rate: 80.7%e v 80.9% prior
- 08:30 (CA) Canada Jan New Housing Price Index M/M: 0.1%e v 0.2% prior; Y/Y: 2.3%e v 2.3% prior
- 09:00 (DE) German Fin Min Schaeuble gives keynote speech
- 09:00 (US) Fed's Raskin welcoming remarks in DC
- 09:00 (PL) Poland Jan Current Account: -1.5Be v -1.2B prior; Trade Balance: -423Me v -1.2B prior; Exports: 11.9Be 10.6B prior; Imports: 12.4Be v 11.9B prior
- 09:00 (PL) Poland Feb M3 Money Supply M/M: +0.5%e v -0.8% prior
- 09:00 (PL) Poland Feb CPI M/M: 0.2%e v 0.1% prior; Y/Y: 1.5%e v 1.7% prior
- 09:45 (US) Weekly Commercial Paper stats
- 10:00 (RO) Romania to sell Up to RON500M in 2014 Bonds
- 10:30 (BR) Brazil to sell 2013, 2015, 2016 and 2018 Bills
- 11:00 (US) Fed to purchase $2.75-3.50B in Notes
- 12:30 (FR) French PM Ayrault speaks at Empire Club
- 13:00 (US) Treasury to sell $13B in 30-Year Bonds Reopening
- 16:30 (US) Fed releases comprehensive capital analysis and review
- 18:00 (CL) Chile Central Bank Interest Rate Decision: expected to leave the Nominal Overnight Rate Target unchanged at 5.00%


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 15 Oct 2018
AA 12:30 US- Retail Sales
Tue 16 Oct 2018
AA 08:30 GB- Employment
A 09:00 DE- ZEW Survey
A 13:15 US- Industrial Production
Wed 17 Oct 2018
AA 08:30 GB- CPI
A 09:00 EZ- Final HICP
A 12:30 US- Housing Starts/Permits
A 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
AA 18:00 US- Fed Policy Minutes
Thu 18 Oct 2018
A 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 12:30 US- Weekly Jobless
Fri 19 OCt 2018
AA 12:30 CA- CPI/ Retail Sales

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