User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday May 17, 2013 - 10:12:37 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: Quiet session in Europe; EU27 Car Registrations rise for first time in over 18 months

TradeTheNews.com EU Market Update: Quiet session in Europe; EU27 Car Registrations rise for first time in over 18 months
Fri, 17 May 2013 5:43 AM EST

***Notes/Observations***
- BoJ will discuss the related risks and potential effect on its 2% inflation target at its two-day policy meeting next week
- EBA to delay EU bank stress tests until 2014, timing of stress tests to depend on EU approval of the ECB as banking supervisor in the euro zone
- France President Hollande: Cannot request ECB lower interest rates further; confident Draghi knows what he is doing
- China Vice Commerce Minister Jiang: EU is the main instrument for diversifying China FX reserves
- EU27 Car Registrations rise for first time in over 18 months

***Economic Data***
- (RU) Russia Narrow Money Supply w/e May 13th (RUB): 7.71T v 7.74T prior
- (EU) EU27 Apr New Car Registrations: +1.7% v -10.2% prior; first increase in 18 months
- (ES) Spain Mar Bank bad loan ratio 10.47% v 10.39% prior
- (EU) Euro Zone Mar Construction Output M/M: -1.7% v -0.3% prior; Y/Y: -7.9% v +1.7% prior
- (ES) Spain Mar Trade Balance: +0.6B v -1.2B prior; first ever monthly trade surplus on record

Fixed Income:
- (IN) India sold INR150B vs. INR150B indicated in 2018, 2023, 2030 and 2041 bonds

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

***Equities***
FTSE 100 +0.10% at 6,694
, DAX flat at 8,367, CAC-40 +0.20% at 3,986, IBEX-35 +0.10% at 8,548, FTSE MIB +0.20% at 17,575, SMI -0.40% at 8,220, S&P 500 Futures +0.30% at 1,652

- European bourses are trading mixed, as traders continue to debate when the Fed will reduce the scale of its quantitative easing program. Switzerland's SMI has underperformed amid weakness in shares of heavyweights including Zurich Financial and Roche. European banks are mostly higher, led by gains in the UK banking sector. Shares of BBVA have lagged, as Spain's bad loan ratio rose again in March. Resource related companies are trading mixed, in line with what has been seen with commodity prices. The European auto sector has been supported by data which showed that EU27 new car registrations rose in April for the first time since late 2011.

- UK movers [Ocado +25% (confirmed agreement with Morrisons), PV Crystalox +6% (cash return to shareholders), Direct Line +3% (broker commentary); Capital Drilling -12% (disclosed charge), Intertek -4.5% (cautious comments regarding margins), Aviva -1.5% (broker commentary)]
- Germany movers [Daimler +1% (EU car registrations data), Volkswagen +1% (EU car registrations data)]
- France movers [Peugeot +5% (EU car registrations data), Michelin +2% (reaffirmed outlook), Renault +2% (EU car registrations data), Lagardere +1% (broker commentary)]
- Italy movers [Fiat -2% (broker commentary, EU car registrations data)]
- Denmark movers [AP Moeller +0.60% (Q1 profits above ests); FLSmidth -6% (Q1 results below ests)]

Speakers:
- ECB's Coeure (France) stated that the central bank must act within its mandat
e and reiterated it was exploring options to strengthen SME lending, He noted that financial conditions in Eurozone were generally improved and that arguments that ECB was not well placed to support employment were overstated. Monetary indicators key to ensuring price stability and ECB to accompany recovery if reforms continued
- BoE's Weale commented that failure to damp CPI shock risked entrenching expectations. The MPC concluded market rate expectations consistent with economic outlook and that economy prospects looked better than they have in a while. Strong March data was a springboard for Q2 growth. He saw possible stagnation being replaced by moderate growth. Considerable amount of work underway on forward guidance with the yield curve showing no rate rise until 2016
- Japan PM Abe: Japan has gained global understanding of Abenomics and added that Govt aimed to triple infrastructure exports to 30T by 2020
- Japan MOF's Furusawa commented that it had no comment on specific currency levels and the MOF did not draw the line at 100 or 110 in the USD/JPY pair. It was observing FX rates that were determined by market forces. The official added that long-term JGB yields to stabilize; MOF, BOJ and JGB players kept in close contact. Fx currency rates were not set by monetary policy alone and that the USD status as key unit unlikely to change; Euro, Yuan assets not for diversifying reserves. The MOF reiterated that ending deflation to help global growth
- Russia Fin Min Siluanov reiterated that Govt weighing dividend increase for State companies and still discussing 35% payout. He noted that that higher payout attracted investors and increases budget revenues
- Czech Debt Agency chief Pavelek commented that it would not sell foreign bonds in H1 and would review debt issuance plans in H2. He added that using investor demand to sell longer-dated bonds in regular domestic auctions and would offer more 2036 bonds
- PBoC researcher Gu Mingde commented that China should not alter prudent monetary policies and that the country's economic growth was stable.
- Turkey Econ Min Caglayan: Interest rates might fall to 2.5% (Currently 4.50%)

Currencies/Fixed Income:
- FX price action was quite limited in a quiet European morning. The EUR/USD was still stayed well contained within recent ranges with Mid-East bids said to be providing support at 1.2840 area.
- The JPY remained near rend lows ahead of Japan PM Abe speech to provide his third tranche of his "Abenomics" prescription to help Japan economy. This portion to focus on reforms to achieve growth through stimulating private investment. There were rumors that the Govt might lower the Corp tax rate.

Political/In the Papers:
- (US) Fed's Williams: Looking for sustained improvement in job market before calling for end of buying assets; Will not commit to any one meeting to change of policy; Depends on economic developments; More confident today that labor market will recover; reiterates Fed may be able to taper bond buying as early as this summer
-(US) Fed's Raskin (FOMC voter; moderate): policy is appropriate given the outlook and risks; many people still cannot obtain mortgage credit
- (US) Fed's Fisher: Recent decline in headline inflation is benign, not expecting deflation; decline in energy and food prices is not of concern; Notes that he is not the only member at the Fed willing to wind down MBS purchases; Fed should reduce MBS purchases and end them by year end
- (US) Federal Reserve not alarmed about low inflation; Fed comforted by stable inflation expectations - financial press op/ed;
- (EU) European Commissioner for Industry Tajani: Euro currency is too strong and is hurting exports
- (EU) China Vice Commerce Minister Jiang: EU is the main instrument for diversifying China FX reserves; Chinese investments in EU will help its recovery; China will expand investments in port of Piraeus, Greece.
- (JP) Japan risks exporting deflation if yen continues to weaken - Telegraph's Ambrose Evans-Pritchard; Says the current situation (weaker yen and slowing growth in Asian countries) is reminiscent to what was seen during the East Asian financial crisis of the late 1990s.

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- 06:00 (EU) ECB announces 3-Year LTRO Repayment
- 06:10 (UK) DMO to sell 2.0B in 1-month, 3-month and 6-month Bills

- 06:15 (EU) ECB's Praet (Belgium) speaks in Brussels
- 06:30 (US) Daily Libor Fixing
- 07:00 (EU) ECB member Mersch (Luxembourg)
- 07:30 (IN) India Forex Reserves w/e May 10th: No est v $294.3B prior
- 08:00 (IC) Iceland Apr Unemployment Rate: No est v 5.3% prior
- 08:00 (PT) Bank of Portugal Monthly Economic Indicators Report
- 08:30 (CA) Canada Mar Wholesale Sales M/M: 0.4%e v 0.0% prior

- 08:30 (CA) Canada Apr Consumer Price Index M/M: 0.0%e v 0.2% prior; Y/Y: 0.6%e v 1.0% prior; Consumer Price Index: No est v 122.9 prior

- 08:30 (CA) Canada Apr CPI Core M/M: 0.2%e v 0.2% prior; Y/Y: 1.2%e v 1.4% prior
- 09:00 (MX) Mexico Mar Global Economic Indicator: -0.7%e v +0.4% prior
- 09:00 (EU) EU Commissioner Rehn on US Trade Relations in Helsinki
- 09:00 (MX) Mexico Q1 GDP Q/Q: 0.3%e v 0.8% prior; Y/Y: 1.1%e v 3.2% prior
- 09:15 (NO) Norway PM Stoltenburg with Finland PM Katainen
- 09:55 (US) May Preliminary University of Michigan Confidence: 77.9e v 76.4 prior
- 10:00 (US) Apr Leading Indicators: +0.2%e v -0.1% prior

- 11:00 (US) Fed to Purchase $4.75-5.75B in Notes
- 13:45 (US) Fed's Kocherlakota, Sweden Central Bank (Riksbank) Gov Ingves speak in Chicago
- 15:00 (AR) Argentina Mar Economic Activity Index M/M: No est v 0.3% prior; Y/Y: No est v 2.3% prior
- 17:00 (CO) Colombia Mar Retail Sales Y/Y: -0.3%e v +0.6% prior
- 17:00 (CO) Colombia Mar Industrial Production Y/Y: -4.3%e v -4.5% prior
- 21:30 (CN) China Apr Property Prices

 

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