User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday May 30, 2013 - 10:28:54 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: Europe exhibits calm despite Nikkei sell-off; Swiss Q1 GDP beats expectations

TradeTheNews.com EU Market Update: Europe exhibits calm despite Nikkei sell-off; Swiss Q1 GDP beats expectations
Thu, 30 May 2013 5:37 AM EST

***Notes/Observations***
- Brazil again hikes Selic Target Rate to confront inflation
- Japanese markets saw another volatile session; Nikkei closes down over 5%; 10-year JGB 0.89%

- (JP) Japan investors sold 1.1T (**second week of net sales after 4 weeks of buys) in foreign bonds
-RBNZ Gov Wheeler said that that NZD is significantly overvalued and that he wants to diminish perceptions of NZD as a one way bet
- Australia building approvals came in at a 7-month high
- (JP) Japan Fin Min Aso: Banks' capital base won't be severely affected by 1% rise in JGB yields
- Swiss Q1 GDP handily beats expectations
- Euro Zone May confidence shows slight improvement
- Italy 5-year and 10-year auction results satisfactory despite slight uptick in borrowing costs


***Economic Data***
- (CH) Swiss Q1 GDP Q/Q: 0.6% v 0.2%e; Y/Y: 1.1% v 1.0%e
- (UK) May Nationwide House Prices M/M: 0.4% v 0.5%e; Y/Y: 1.1% v 0.9%e

- (ZA) South Africa Apr M3 Money Supply Y/Y: 10.0% v 9.2%e; Private Sector Credit Y/Y: 9.1% v 8.8%e
- (ES) Spain Q1 Final GDP Q/Q: -0.5% v -0.5%e; Y/Y: -2.0% v -2.0%e
- (ES) Spain Mar Preliminary Consumer Price Index Y/Y:1.7 % v 1.6%e; CPI EU Harmonized Y/Y: 1.8% v 1.7%e
- (TR) Turkey May Consumer Confidence: 77.5 v 75.6 prior
- (DK) Denmark Apr Unemployment Rate Seasonally Adj: 4.5% v 4.4%e; Gross Unemployment Rate: 5.9% v 5.8%e
- (EU) ECB: 52M borrowed in overnight loan facility vs. 279M prior; 82.4B parked in deposit facility vs. 82.4B prior
- (SE) Sweden Mar Non-Manual Workers Wages Y/Y: 1.6% v 1.7% prior
- (IT) Italy Apr PPI M/M: -0.5% v -0.1%e; Y/Y: -1.1% v -0.7%e
- (NO) Norway Apr Retail Sales Volume M/M: -0.6% v -0.2%e; Y/Y: +8,2% v -4.2% prior
- (HK) Hong Kong Apr Retail Sales Value Y/Y: 20.7% v 14.5%e; Retail Sales Volume Y/Y: 19.4% v 14.5%e
- (BE) Belgium May CPI M/M: 0.2%v -0.0% prior; Y/Y: 1.2 v 1.0% prior
- (EU) Euro Zone May Business Climate Indicator: -0.76 v -0.85e; Consumer Confidence: -21.9 v -21.9e; Economic Confidence: 89.4 v 89.4e; Industrial Confidence: -13.0 v -13.0e; Services Confidence: -9.3 v -10.6e
- (PT) Portugal May Consumer Confidence: -55.0 v -54.2 prior; Economic Climate Indicator: -3.2 v -3.6 prior
- (ZA) South Africa Apr PPI M/M: 0.4% v 0.6%e; Y/Y: 5.4% v 5.7%e
- (IT) Italy's Confindustria (employers group): May Industrial Output -0.1% v +0.2% prio

Fixed Income:
- (IT) Italy Debt Agency (Tesoro) sold total 5.75B vs. 4.0-5.75B indicated range in 2018 and 2023 BTP Bonds

- Sold 2.75B vs. 2.0-3.0BB indicated range in 3.5% June 2018 BTP Bond; Avg Yield 3.01% v 2.84% prior; Bid-to-cover: 1.40x v 1.36x prior
- Sold 3.0B v 2.0-3.0B indicated range in 4.50% Nov 2023 BTP bonds, Avg yield 4.14% (highest since Mar) v 3.94%; bid to cover 1.38x v 1.42x prior
- (HU) Hungary Debt Agency (AKK) sold total HUF53B in 2016, 2018 and 2023 Bonds

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

***Equities***
FTSE 100 -0.30% at 2,317,
DAX -0.10% at 8,325, CAC-40 +0.20% at 3,980, IBEX-35 -0.10% at 8,432, FTSE MIB +0.40% at 17,310, SMI -0.30% at 8,002, S&P 500 Futures -0.20% at 1,643

- European equity markets are mixed, following the more than 5% sell-off seen for Japan's Nikkei225 index. Banks are mostly higher, led by shares of Lloyds and Intesa. Resource related shares have tracked the recovery in copper and precious metals prices.

- UK movers [John Wood Group +2% (broker commentary),Tate & Lyle +1% (FY profits rose y/y); Tesco -1.5% (broker commentary)]
- Germany movers [Allianz +1% (broker commentary); Linde -2.5% (broker commentary), Deutsche Post -2.5% (ex-dividend), QSC -2.5% (ex-dividend), Vossloh -2% (ex-dividend), Deutsche Telekom -1.5% (technical weakness)]
- France movers [Faurecia +3% (broker commentary); Renault -1.5% (broker commentary),Vallourec -1% (broker commentary)]
- Italy movers [Pirelli +3% (broker commentary)]

Speakers:
- BOJ Statement on JGB purchases for June after meeting with market participants yesterday.
It now saw total monthly purchases at about 7T and would buy JGBs on about 8-10 trading days in June versus 8 in May. It also noted that it would not conduct JGB buying operations on same day as MOF JGB auctions with same maturity
- BOJ Dep Gov Nakaso commented that deflation has been persistent challenge for Japan and BOJ easing to change inflation expectations. He reiterated the view that the central bank has been keeping close dialogue with market. He did not expect a big spike in long-term interest rates
- Japan Econ Min Amari commented that BOJ will deal with rise in yields appropriately and
Abenomics impact was starting to be felt in real economy. Japan would achieve economic recovery through increasing capex. Growth strategy was most important part of PM Abe's three arrows
- Japan PM advisor Hamada stated that he was not worried about rise in long term yields as long as real interest rates were still low. No surprise in Japan stock volatility its natural as 10-20% random stock moves were not surprising.
- ECB's Costa (Portugal) commented that the reduced profitability of banks was a main challenge, bad loans were worrisome
- Sweden Central Bank Dep Gov Ekholm commented that house price pressure might accelerate credit growth but debt growth was still lower than before financial crisis
- Sweden Central Bank (Riksbank) Jocknick commented that there were fundamentals behind strength in SEK currency (Krona) but Sweden was relying a lot of European developments
- Hungary Govt official Giro-Szasz stated that the country's next fiscal step hinged on economy and the Cabinet was not preparing an election budget for 2014
- Hungary Central Bank stated that Q1 lending conditions were strict and banks were not helping growth via lending
- Turkey Central Bank: Household liabilities rising on credit use but
remained low on a global basis and did not carry interest rate or exchange risk
- Netherlands Central bank stated that it was important for mortgage debt to be reduced and stronger bank capital buffers were desirable
- Norway Stats Office updated its economic forecasts which cut both 2013 and 2014 non-oil GDP view. It now saw 2013 non-oil GDP at 2.4% and 2014 non-oil GDP forecast at 3.0%
- Thailand Finance Ministry to cut its 2013 GDP forecast from current 5.3% next month based on lower Q1 GDP
- Kuwait OPEC gov Razzouqi: No reason to change output quotas
- Iraq Oil Minister: Most OPEC ministers seek to leave production unchanged
- Syria's President Bashar al-Assad stated that the country had already received the first shipment of an advanced Russian air defense system
- South Africa cabinet approves changes to the mining laws

Currencies/Fixed Income:
- Overall the USD continued to give back ground against the major pairs.
- The sharp sell-off in the Nikkei225 Index prompted unwinding of yen-carry trade during the Asian session. The USD/JPY tested the key 101.50 hourly support several times but it managed to hold the level for the time being. The pair has a growing amount of USD sell-stops building below 100.30 through 99.70 area.
- The EUR/USD edged back towards the 1.30 area aided by a slight improvement Euro Zone May confidence data. Dealers also noted that ECB was not likely to rush into negative deposit rates despite the uptick in rhetoric.

Political/In the Papers:
- (EU) ECB's Constancio: Reiterates ECB is logistically prepared for negative deposit rates, but no decision made yet; there are risks of imbalances as a result of the hunt for yield; Banks would need advanced notice about negative deposit rates to prepare themselves.
- (ES) Spain Budget Min Montoro: Spain will exceed economic forecasts and will surprise on the upside; Pledges not to ease off budget deficit limits for Spanish regions.
- (US) Fed's Rosengren: Reiterates QE can be adjusted higher or lower depending on outlook; Would like to see monthly employment growth above 200K; Would be open to modest reductions in bond buying in a few months time.
- (JP) Japan Fin Min Aso: Banks' capital base won't be severely affected by 1% rise in JGB yields
- (JP) Japan investors sold 1.1T (**second week of net sales after 4 weeks of buys) in foreign bonds last week vs sold 800B in prior week;
- (NZ) RBNZ Gov Wheeler: Wants to diminish perceptions NZD is a one way bet; Prepared to escalate FX intervention.

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (EU) European Union Competitiveness Council Meeting
- (BR) Brazil Apr Central Govt Budget (BRL): No est v 0.3B prior
- 06:00 (EU) EU President Van Rompuy with EU's Barroso
- 06:00 (IL) Israel Apr Unemployment Rate: No est v 6.5% prior
- 06:00 (PT) Portugal Apr Industrial Production M/M: No est v 5.2% prior; Y/Y: No est v 0.8% prior
- 06:00 (PT) Portugal Apr Retail Sales M/M: No est v -2.9% prior; Y/Y: No est v -6.0% prior
- 06:30 (US) Daily Libor Fixings
- 07:00 (FI) Finland PM Katainen on labor market reforms
- 07:00 (RU) Russia Gold & Forex Reserve w/e May 24th: No est v $512.4B prior
- 08:00 (ZA) South Africa Apr Budget Balance (ZAR): -25.0Be v -15.5B prior
- 08:30 (US) Q1 Preliminary GDP QoQ Annualized: 2.5%e v 2.5% advance; Personal Consumption: 3.3%e v 3.2% prior
- 08:30 (US) Q1 Preliminary GDP Price Index: 1.2%e v 1.2% advance; Core PCE Q/Q: 1.2%e v 1.2% advance
- 08:30 (US) Initial Jobless Claims: 340Ke v 340K prior; Continuing Claims: 2.970Me v 2.912M prior
- 08:30 (CA) Canada Apr Industrial Product Price M/M: -0.3%e v +0.1% prior; Raw Materials Price Index M/M: -0.9%e v -1.7% prior
- 08:30 (CA) Canada Q1 Current Account: -$15.6Be v -$17.3B prior
- 09:00 (CL) Chile Apr Manufacturing Index: +2.5%e v -3.0% prior
- 09:00 (CL) Chile Apr Retail Sales Y/Y: 10.0%e v 10.2% prior
- 09:00 (CL) Chile Apr Total Copper Production: No est v 483.8K tons
- 10:00 (US) Apr Pending Home Sales M/M: 1.5%e v 1.5% prior; Y/Y: 12.6%e v 5.8% prior
-10:30 (US) EIA Weekly Natural Gas Inventories
- 11:00 (EU) European Medicines Agency Releases Safety Decisions
- 11:00 (US) DOE Weekly Crude Oil Inventories
- 11:00 (US) Fed to purchase $1.25-1.75B in Notes
- 12:00 (FR) France Apr Net Change Jobseekers: +30.0Ke v +36.9K prior; Total Jobseekers: 3.252Me v 3.2246M prior
- 12:00 (DE) German Chancellor Merkel with France President Hollande in Paris
- 12:30 (PT) ECB's Costa (Portugal) speaks at Conference on Portugal and the EU
- 12:35 (US) OFR's Berner speaks on Financial Stability
- 13:00 (US) Treasury to sell $29B in 7-Year Notes
- 15:00 (AR) Argentina Apr Supermarket Sales Y/Y: No est v 14.5% prior
- 15:30 (MX) Mexico Apr YTD Budget Balance (ARS): No est v 40.2B prior
- 19:30 (JP) Japan Apr Jobless Rate: 4.1%e v 4.1% prior
- 19:50 (JP) Japan Apr National CPI Y/Y: -0.8%e v -0.9% prior; Ex Food-Energy Y/Y: No est v -0.8% prior
- 19:50 (JP) Japan Apr Preliminary Industrial Production M/M: 0.7%e v 0.9% prior; Y/Y: -3.2%e v -6.7% 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 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