User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday May 24, 2013 - 10:03:52 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: Core European data sooths risk aversion concerns and trims calls for more ECB rate cuts; German IGO sees significant improvement in Q2 GDP

TradeTheNews.com EU Market Update: Core European data sooths risk aversion concerns and trims calls for more ECB rate cuts; German IGO sees significant improvement in Q2 GDP
Fri, 24 May 2013 5:37 AM EST

***Notes/Observations***
- ECB's Draghi: Eurozone was a more stable union than it was a year ago and now saw signs of tangible improvement in lending and financial conditions; Europe needs a more European UK just as UK needs more "British Europe - London speech
- Greece Fin Min Stournaras stated that about 2/3 of the Greek adjustment process has been completed
- Moody's affirms Switzerland Aaa sovereign rating; outlook Stable
- Japanese officials continue to address recent volatility; BOJ gov Kuroda reiterated no particular targets for equities and forex and wanted to avoid volatility in bond market as much as possible
- Core European data sooths risk aversion concerns; German GFK confidence survey at highest level since 2007
- German IFO Economist sees Q2 GDP 'significantly better' sequentially


***Economic Data***
- (DE) Germany Q1 Final GDP Q/Q: 0.1% v 0.1%e; Y/Y: -1.4% v -1.4%e; GDP wda Y/Y: -0.2% v -0.2%e
- (DE) Germany Q1 Domestic Demand: 0.0% v 0.1%e; Government Spending: -0.1% v +0.3%e; Private Consumption: 0.8% v 0.3%e; Capital Investment: -1.5% v -1.2%e; Construction Investment:-2.1% v -1.2%e; Exports: -1.8% v -0.6%e; Imports: -2.1% v -0.9%e
- (US) Germany Jun GFK Consumer Confidence: 6.5 v 6.2e; highest since Sept 2007
- (FI) Finland Apr PPI M/M: -0.6% v +0.3% prior; Y/Y: -0.5% v 0.0% prior
- (FI) Finland Apr Preliminary Retail Sales Volume Y/Y: +0.4% v -1.7% prior
- (FR) France May Business Confidence: 92 v 89e; Production Outlook Indicator: -47 v -46e; Own-Company Production Outlook: -2 v -2 prior
- (CZ) Czech May Business Confidence: +0.4 v -0.7 prior; Consumer Confidence: -19.8 8 (best reading in two years ) v -23.prior; Composite: -3.6 v -5.3 prior
- (ES) Spain Apr Producer Prices M/M: -1.1% v -1.5% prior; Y/Y: -0.5% v 0.0% prior
- (AT) Austria Mar Industrial Production M/M: -1.9% v -1.4% prior; Y/Y: -1.7% v +1.4% prior
- (EU) ECB: 497M borrowed in overnight loan facility vs. 406M prior; 90.6B parked in deposit facility vs. 84.5B prior
- (SE) Sweden May Consumer Confidence: 3.6v 6.5e; Manufacturing Confidence:-15 v -8e prior; Economic Tendency Survey: 91.9 v 94.5e
- (AT) Austria Q1 Final GDP Q/Q: -0.1% v -0.1% prelim
- (DE) Germany May IFO Business Climate: 105.7 v 104.4e; Current Assessment: 110.0 v 107.2e; Expectations Survey: 101.6 v 101.6e
- (IT) Italy May Consumer Confidence: 85.9 v 86.9e
- PL) Poland Apr Unemployment Rate: 14.0% v 13.9%e
- (PL) Poland Apr Retail Sales M/M: -2.7% v -1.0%e; Y/Y: -0.2% v +1.1%e
- (TW) Taiwan Q1 Final GDP Y/Y: 1.7% v 1.5%e
- (TW) Taiwan Apr M2 Money Supply Y/Y: 3.7% v 3.8% prior; M1 Money Supply Y/Y: 5.7% v 6.0% prior
- (UK) Apr BBA Loans for House Purchase: 32.2K v 32.8Ke
- (IT) Italy Apr Hourly Wages M/M: 0.3% v 0.0% prior; Y/Y: 1.4% v 1.4% prior
- (IC) Iceland Apr Wage Index M/M: 0.2% v 1.3% prior; Y/Y: 5.8% v 5.5% prior

Fixed Income:
- (IN) India sold total INR150B in 2020, 2025, 2032 and 2042 bonds

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

***Equities***
FTSE 100 -0.50% at 6,665,
DAX -0.40% at 8,314, CAC-40 flat at 3,967, IBEX-35 -0.50% at 8,300, FTSE MIB flat at 17,001, SMI +0.30% at 8,191, S&P 500 Futures -0.30% at 1,644

- Equity markets in Europe are mixed, as the Nikkei 225 closed higher after another volatile trading session. In terms of fundamental data, business confidence data out of Germany and France exceeded market expectations. European banks are trading mixed. Deutsche Bank has lagged, as the company is trading ex-dividend. Resource-related companies are trading mixed, in line with what has been seen with commodity prices.

- UK movers [Computacenter +1.5% (special dividend); BT -1% (broker commentary)]
- Germany movers [Salzgitter -2% (ex-dividend), Lanxess -1.5% (ex-dividend), Deutsche Bank -1% (ex-dividend), Daimler -0.50% (broker commentary)]
- Italy movers [Generali +1.5% (broker commentary)]
- The Netherlands movers [TomTom +2% (renewed takeover speculation)]

Speakers:
- Fed's Bullard (moderate, FOMC voter) appeared on CNBC-Europe stated that he would like to see reassurances that inflation was moving more towards the Fed's target before any tapering was initiated
and that one wildcard in the US data was the low inflation, inflation is well below target. He did note that the US economy was improving, labor market improving, expected further improvement. He put less weight on the sequester than other economists
- BOE's Fisher commented that BoE must continue to support the economy and that another rate cut would probably not boost demand. Evidence showed QE was not becoming less effective and favored slow pace of QE that would depend on dats. Higher bank capital should not restrict lending and growth in productivity should help control inflation. Fiscal tightening would continue to weigh on output. Negative rates would not necessarily do much to boost growth at the moment, might even be perverse
- BOE's Haldane: Financial system still not 'out of the woods'; Banks still lending too little to real economy
- German IFO Economist Wohlrabe commented that he expected Germany's Q2 GDP to rise significantly from Q1 level. Construction activity had picked up "immensely" in May, backorders were being dealt with currently. Business climate index rise was due to strong domestic economy and good exports. Recent ECB rate cut had only a psychological effect on Germany, if at all
- EU's Barnier: EU to publish financial supervisor overhaul report by the end of 2013
- Denmark Central Bank Dep Gov Callesen commented that experience showed negative rates could work well and prepared market carefully before negative rates. Negative rates have not moved through to bank clients
- Czech Fin Min Kalousek will propose a budget amendment assuming higher spending if May data shows tax collection remains strong
- Germany's Finance Minister Schaeuble said to have concerns about the capital tax proposal which is supported by the opposition SPD party (**Note: SPD officials favored the reintroduction of a capital tax which would help poor individuals)
- India Central Bank (RBI) stated that it planned to allow exports and importers to cancel and rebook up to 50% of total hedged exposures (from 25% prior)
- China State Council reiterated its pledge to push forward rate liberalization and improve exchange rate forming system

Currencies/Fixed Income:
- The Japanese markets continued with its volatility as various Japanese govt officials defended current policies. The Niikei225 Index did manage to eek out gains for the session of under 1%. The JPY currency followed the equity price action. The USD/JPY tried to initially take out Thursday low of 100.84 but the pair drifted upwards the upper end of the 101 handle.
- Euro was at session highs after better German IFO data beat expectations which caused several analysts revise earlier calls for another ECB rate cut. The pair tested 1.2990 before retracing its gains. The pair was at 1.2960 just ahead of the NY morning.

Political/In the Papers:
- (EU) ECB's Weidmann: It cannot be a policy goal to make sure that rates are the same everywhere
- (EU) Netherlands PM Rutte: Forecasting deficit to reach 3%/GDP in 2014; not expecting to ask for more time to reach targets
- (FR) France Fin Min Moscovici: 75% top tax rate for high income earners to be part of 2014 budget- Les Echoes

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (CN) China Premier Li Keqiang in Switzerland
- 06:00 (DE) ECB member Weidmann in Paris
- 06:00 (DE) German Chancellor Merkel
- 06:00 (EU) ECB announces 3-Year LTRO Repayment
- 06:10 (UK) DMO to sell 2.5B in 1-month, 3-month and 6-month Bills
- 06:30 (US) Daily Libor Fixings
- 07:00 (BR) Brazil May FGV Consumer Confidence: No est v 113.9 prior
- 07:30 (FI) Finland PM Katainen with BOE Gov King participate in debate
- 07:30 (IN) India Forex Reserves w/e May 17th: No est v $293.7B prior
(ES) Spain Debt Agency (Tesoro) to announce bonds on Thursday, May 30th
- 08:30 (PT) ECB member Constancio (Portugal) in Brussels
- 08:30 (US) Apr Durable Goods Orders: +1.5%e v -5.8% prior (revised from -5.7%); Durables Ex Transportation: +0.5%e v -1.5% prior (revised from -1.4%); Capital Goods Orders Non-defense, Ex-Aircraft: 0.5%e v 0.9% (revised from 0.2%); Capital Goods Shipments Non-defense, Ex-Aircraft: -0.5%e v 0.5% prior (revised from 0.3%); Durables Ex-Defense: No est v -4.7% prior
- 09:00 (BE) Belgium May Business Confidence: -14.0e v -14.7 prior
- 09:00 (MX) Mexico Apr Unemployment Rate: 4.7%e v 4.5% prior
- 09:00 (CL) Chile Apr PPI M/M: No est v -2.9% prior
- 09:30 (BR) Brazil Apr Total Outstanding Loans (BRL): No est v 2.427T prior; M/M: No est v 1.8% prior; Private Banks Lending: No est v 1.246T prior; Personal Loan Default Rate: No est v 7.6% prior
- 10:00 (US) President Obama at Annapolis
- 10:00 (MX) Mexico Q1 Current Account: -$4.5M v -$6.5B prior
- 11:45 (EU) EU Commissioner Rehn at Brussels Fin. Reg
- 15:00 (AR) Argentina Apr Industrial Production M/M: No est v 1.5% prior; Y/Y: 2.1%e v 0.2% 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."



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 20 November 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:


Mon 20 Nov
14:00 EZ- Draghi Speech
15:00 US- Leading Indicators
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