User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday May 3, 2013 - 10:18:59 GMT
Trade the News Staff -

Share This Story:
| | Email EU Market Update: ECB members clarify possibility on negative rates; EU Commission paints a gloomier picture for Europe EU Market Update: ECB members clarify possibility on negative rates; EU Commission paints a gloomier picture for Europe
Fri, 03 May 2013 5:40 AM EST

- (CN) China Apr Non-Manufacturing PMI: 54.5 vs. 55.6 prior (14th straight month of expansion)
- India RBI cuts interest rates for 4th time in current easing cycle
- Financial press report that suggested that some at ECB wanted a bigger cut
- ECB members out in force putting their spin on yesterday's rate cut and solidarity among its council
- ECB's Nowotny: Draghi's comments on possible negative interest rates had been over-interpreted,

- New EU Commission economic forecasts paint gloomier picture for Europe
- Focus moves to US April payroll report

***Economic Data***
- (IN) India Central Bank (RBI) cut Repo Rate and Reverse Repo Rates by 25bps each to 7.25% and 6.25% respectively; Left Cash Reserve Ratio (CRR) unchanged at 4.00% (all as expected)

- (IE) Ireland Apr NCB Services PMI: 55.2 v 52.3 prior; three-month high
- (CH) Swiss Q1 UBS Real Estate Bubble Index: 1.17 v 1.11 prior
- (NO) Norway Apr PMI SA: 48.9 v 49.8e
- (HU) Hungary Feb Final Trade Balance: 639.4M v 672.6M prelim
- (TR) Turkey Apr Consumer Prices M/M: 0.4% v 0.7%e; Y/Y: 6.1% v 6.5%e; CPI Core Y/Y: 5.4% v 5.8% prior
- (TR) Turkey Apr Producer Prices M/M: -0.5% v +0.8%e; Y/Y: 1.7% v 2.3% prior
- (EU) ECB: 1.79B borrowed in overnight loan facility vs. 20.0M prior; parked in deposit facility vs. 120.8B prior
- (NO) Norway Apr Unemployment Rate: 2.6% v2.6%e
- (BR) Brazil Apr FIPE CPI: 0.3% v 0.2%e
- (UK) Apr PMI Services: 52.9 v 52.4e
- (EU) Euro-Zone Mar PPI M/M: -0.2% v -0.2%e; Y/Y: 0.7% v 0.6%e

Fixed Income:


FTSE 100 +0.10% at 6,468,
DAX +0.10% at 7,971, CAC 40 -0.10% at 3,856, IBEX-35 +0.50% at 8,443, FTSE MIB -0.20% at 16,718, SMI -0.40% at 7,874, S&P 500 Futures -0.10% at 1,590

- Equity markets in Europe are trading mixed as traders assess the recent rate moves and commentary out of the ECB. Additionally, the April US payrolls report is expected to be in focus. European banks are trading mixed, following earnings reports from BNP and RBS. Resources related firms are mostly higher, tracking the gains in copper and gold prices.

- UK movers [Man Group +8% (capital reduction plan), Smurfit Kappa +3% (Q1 sales rose y/y); RBS -4% (Q1 sales declined y/y on markets unit), Direct Line Insurance -2% (Q1 gross written premiums declined)]
- Germany Movers [Sky Deutschland +6% (Q1 EBITDA above ests), Adidas +5.5% (Q1 profits above ests), ThyssenKrupp +5% (broker commentary), Telefonica Deutschland +2% (affirmed outlook), Continental AG +1% (Q1 profits above ests); Hugo Boss -6% (share placement)]
- France movers [CGGVeritas +9% (swung to profit in Q1), Vallourec +8.5% (Q1 profits above ests), BNP +0.50% (Q1 results above ests); Air France -3% (reported Q1 net loss), Remy Cointreau -2% (share placement)]

- ECB's Nowotny (Austria) commented during a CNBC interview that ECB's Draghi's comments (from yesterday's press conference) on possible negative interest rates had been over-interpreted,
there were no concrete plans to cut the deposit rate into negative territory at this point. No major Central bank had ever had a negative deposit rate and such a scenario must be analyzed and discussed in more detail. During the Asian session he commented that the central bank rate cut decision was a reaction to a very weak economy and it would stick with policy of low interest rates for a 'long time'. He added that the ECB could only create preconditions for growth
- ECB's Liikanen reiterated that the central bank was ready to act if necessary and that unintended consequences of actions must be addressed. He also reiterates that ECB had assessed negative interest rates. He added that there was no split on decision to cut Refi rate by 25bps although some members might have different opinions
- ECB's Mersch (Luxembourg): Completion of banking union is key challenge ahead
- ECB's Reinesch (Luxembourg): Recent ECB rate cut will improve outlook
- EU Commission updated its economic forecasts which painted a gloomier picture for Europe.The EU now saw Euro Zone GDP at -0.4 vs. +0.1% winter forecast and cut most member State outlook.
- EU's Rehn commented that it would present country specific recommendations by the end of May and stressed that countries must proceed with reforms and rebalancing efforts
. EU saw modest rise in employment in Europe next year and that slower consolidation reflects increased fiscal credibility and better policies. France growth forecast is overly optimistic, reasonable to extend deficit cut by 2-years. Spain to get two more years for budget consolidation. He added that Slovenia could receive more time for budget cuts if it presents broader strategy to address its economic problems
- India Central Bank (RBI) comments from its rate decision reiterated it sees limited room for monetary easing as upside risks to inflation remain significant in the short term. The central bank would use all instruments to condition inflation to 5.0% by end of current fiscal year (Mar 2014). Risks from current account deficit could warrant swift reversal of policy stance. The RBI cut its FY14 GDP growth outlook to 5.5% from 5.7% prior
- India Fin Min Chidambaram: Recent sign of global economic recovery are weak and uncertain; Eurozone crisis continues to pose a serious risk
- South Korea Unification Min: Reached an agreement with North on worker exit from Kaeseong jv

Currencies/Fixed Income:
- The EUR/USD reclaimed the 1.31 handle in early European trading after ECB member Nowotny clarified Draghi's comments from yesterday's press conference
. Nowotny stated that markets had over-interpreted the possibility of negative interest rates occurring.
- The GBP maintained a firm tone after a string of decent economic numbers which underpinned expectations that the UK economy would record modest growth in Q2. The pair hovered around the mid-1.55 area after better-than-expected Services PMI

Political/In the Papers:
- (EU) ECB Draghi: The prevailing consensus was for a 25bps cut; reiterates that the ECB is "technically prepared" for negative deposit rates; ECB is ready to act again if necessary
-(EU) Some members of the ECB governing council said to have been prepared to take stronger moves - financial press; Constancio and Noyer said to have wanted to do more, some members prepared for a 50bps move

***Looking Ahead***
***All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- 06:00 (IE Ireland Mar Industrial Production M/M: No est v 0.4% prior; Y/Y: No est v -0.2% prior
- 06:00 (IC) Iceland to sell Bonds
- 06:00 (EU) ECB announces 3-Year LTRO Repayment
- 06:10 (UK) DMO to sell combined 2.0B in1-month, 3-month and 6-month Bills
- 06:30 (US) Daily Libor Fixing
- 08:00 (US) SEC Chairman White at ICI meeting
- 08:00 (BR) Brazil Mar Industrial Production M/M: +1.3%e v -2.5% prior; Y/Y: -2.4%e v -3.2% prior
- 08:30 (US) Apr Change in Nonfarm Payrolls: +140Ke v +88K prior; Change in Private Payrolls: +160Ke v +95K prior; Change in Manufacturing Payrolls: +5Ke v -3K prior; Two-Month Payroll Net Revision: +5Ke v -3K prior
- 08:30 (US) Apr Unemployment Rate: 7.6%e v 7.6% prior; Underemployment Rate: No est v 13.8% prior; Change in Household Employment: No est v -206K prior
- 08:30 (US) Apr Avg Hourly Earning M/M: 0.2%e v 0.0% prior; Y/Y: 1.9%e v 1.8% prior; Avg Weekly Hours: 34.6e v 34.6 prior

- 09:00 (BR) Brazil Apr PMI Services: No est v 50.3 prior
- 09:00 (BE) Belgium Q1 Preliminary GDP Q/Q: No est v -0.1% prior; Y/Y: No est v -0.4% prior
- 09:30 (PT) Portugal Budget Sec Sarmento
- 10:00 (US) Mar Factory Orders: -2.9%e v +3.0% prior
- 10:00 (US) Mar Durable goods revisions
- 10:00 (US) Apr ISM Non-Manufacturing Composite: 54.0e v 54.4 prior

- 12:00 (HU) Hungary PM Orban in Portugal
- 12:30 (US( Fed's Tarullo on financial stability in Washington DC
- 12:45 (US) Fed's Lacker Speaks on the Economy in Richmond, Virginia
- 13:05 (CA) Bank of Canada's Carney gives panel remarks in Toronto
- 17:00 (CO) Colombia Apr Producer Price Index M/M: No est v 0.4% prior; Y/Y: No est v -1.9% 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