User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday June 27, 2013 - 10:09:39 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: UK Final Q1 GDP YoY reading revised lower; Germany net unemployment falls for first time in four months

Thursday, June 27, 2013 5:43:27 AM

 TradeTheNews.com EU Market Update: UK Final Q1 GDP YoY reading revised lower; Germany net unemployment falls for first time in four months

***Notes/Observations***
- (CN) China PBOC not conducting routine liquidity operations for today's session - financial press; Overall, PBoC set to inject CNY25B into money market this week due to maturing transactions (CNY28B was injected during the prior week)
- Japan investors sold net 1.19T in Foreign Bonds last week (6th straight week of net sells; largest amount since Apr 2012
- EU finance ministers: EU states reach political deal on bank bail-in rules </
>- Spain Retail Sales registers its 31st straight monthly decline
- German Net Change in Unemployment falls for the first time in four months
- UK Q34 Final GDP YoY reading revised lower to +0.3%
- Italy 5-year and 10-year auction goes relatively smooth; borrowing costs rise but mixed bid-to-covers

***Economic Data***
- (JP) Japan Apr All Industry Activity Index M/M: 0.4% v 0.4%e
- (DE) Germany May Import Price Index M/M:-0.4% v -0.2%e; Y/Y: -2.9% v -2.6%e
- (DE) Germany May ILO Employment: 41.797 v 41.788M prior; Unemployment Rate: 5.3% v 5.4% prior
- (FI) Finland Jun Consumer Confidence: 8.1 v 5.0 prior; Business Confidence: -5 v -4 prior
- (FR) France Jun Consumer Confidence: 78 v 81e </
>- (ES) Spain May Adjusted Real Retail Sales Y/Y: -4.5% v -6.7%e (31st straight negative reading); Real Retail Sales Y/Y: -4.5% v -2.6% prior
- (ES) Spain Jun Preliminary Consumer Price Index Y/Y: 2.1% v 1.8%e; CPI EU Harmonized Y/Y: 2.2% v 2.0%e
- (DK) Denmark May Unemployment Rate: 4.4% v 4.5%e; Gross Unemployment Rate: 5.8% v 5.9%e
- (HU) Hungary May Unemployment Rate: 10.5% v 10.8%e
- (TR) Turkey Jun Consumer Confidence: 76.2 v 77.5 prior
- (EU) ECB 50.0M borrowed in overnight loan facility vs. 5.5B prior; 79.8B parked in deposit facility vs. 83.2B prior - Daily Eurosystem Liquidity Conditions
- (SE) Sweden May Trade Balance (SEK): 5.7B v 9.4B prior
- (DE) Germany Jun Net Change in Unemployment: -12K v +8Ke (first decline in four months); Unemployment Rate: 6.8% v 6.9%e
- (EU) Euro Zone May M3 Money Supply Y/Y: 2.9% v 2.9%e; M3 Money Supply three-month Avg: 2.9% v 2.8%
- (EU) Euro Area May Conference Board Leading Index: 107.3 v 106.9 prior
- (TW) Taiwan May Leading Index M/M: 0.7% v 0.4% prior; Coincident Index M/M: +0.2% v -0.2% prior
- (UK) Q1 Current Account: -14.5B v -12.0Be
- (UK) Q1 Final GDP Q/Q: 0.3% v 0.3%e; Y/Y: 0.3% v 0.6%e
- (UK) Q1 Final Total Business Investment Q/Q: -1.9% v -0.4%e; Y/Y: -16.5% v 0.7%e
- (UK) Jun Lloyds Business Barometer: 36 v 39 prior
- (BE) Belgium Jun CPI M/M: 0.2 v 0.2% prior; Y/Y: 1.6 v 1.2% prior (6-month high)
- (TW) Taiwan Central Bank leaves Benchmark Interest Rate unchanged at 1.875%, as expected
- (PT) Portugal Jun Consumer Confidence: -53.9 v -55.0 prior; Economic Climate Indicator: -2.9 v -3.2 prior
- (EU) Euro Zone Jun Business Climate Indicator: -0.68 v -0.65e; Consumer Confidence: -18.8 v -18.8e; Economic Confidence: 91.3 v 90.4e; Industrial Confidence: -11.2 v -12.3e; Services Confidence: -9.5 v -8.5e
- (IS) Iceland Jun CPI M/M: 0.5% v 0.0% prior; Y/Y: 3.3% v 3.3% prior
- (ZA) South Africa May PPI M/M: 0.3% v 0.5%e; Y/Y:4.9 % v 5.2%e

Fixed Income: </
>- (IT) Italy Debt Agency (Tesoro) sold total vs. 5.0B indicated in 2018 and 2023 BTPs
- Sold 2.5B vs. 1.5-2.5B indicated range in 3.5% June 2018 BTP Bond; Avg Yield 3.47% v 3.01% prior; Bid-to-cover: 1.3x v 1.40x prior
- Sold 2.5B v 1.5-2.5B indicated range in 4.50% Nov 2023 BTP bonds, Avg yield 4.55% v 4.14% prior' bid to cover 1.46x v 1.38x prior
- (HU) Hungary Debt Agency (AKK) sold total HUF32.5B in 2016, 2018 and 2023 Bonds

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

***Equities*** </
>FTSE 100 +0.40% at 6,187, DAX +0.10% at 7,945, CAC-40 -0.10% at 3,722, IBEX-35 -1.2% at 7,725, FTSE MIB -0.20% at 15,331, SMI +0.40% at 7,580, S&P 500 Futures +0.20% at 1,597

- Equity markets in Europe are trading mixed, following the sharp gains seen on Wednesday. Global bond yields are broadly lower, as central bankers continue to talk down rates. The Spain IBEX-35, which outperformed on Wed, has lagged on today's session. Also, European banks have underperformed following the prior session's gains. Additionally, the weakness in the financial sector comes as euro zone officials released the details related to the bank bail-in plan. Resource-related firms are mostly higher, tracking the rebound in commodity prices. US data releases for later today include May personal spending, May Core PCE inflation, weekly initial jobless claims and May pending home sales. Also, Fed speakers due to comment include Dudley and Lockhart.

- UK movers: [Nighthawk Energy +8% (oil find), DS Smith +5% (FY profits rose y/y, raised dividend), Carillion +4% (contract award), CSR +3.5% (raised outlook), Greene King +3% (FY profits above ests), Tate & Lyle +1% (broker commentary)]
- Germany movers [Morphosys +15% (agreement with Celgene), Adidas +2.7% (broker commentary), Sky Deutschland +2% (IPTV agreement with Vodafone), Allianz +1.3% (broker commentary), Fresenius Medical Care +1.5% (broker commentary); Lanxess -4.5% (broker commentary), BASF -2.5% (broker commentary)]

Speakers: </
>- German Chancellor Merkel commented in her Parliament on upcoming EU Leader Summit that the EU growth agenda included free trade deal with US . She noted that jobs would be lost unless EU got a spending plan deal. She noted that first important signal on jobs was appearing in Europe. Could have a reduction of debt and an economic expansion
- Portugal and the Troika were said to discuss changes to pension proposals ahead of the 8th rescue assessment which included increase in retirement age
- France State Auditor stated that 2013 GDP was seen flat with public deficit to GDP seen at 4.0% vs. 3.7% target; need to take structural reforms
- ECB's Weidmann (Germany): Taxpayers should be the last resort in bank rescues
- ECB's Nowotny (Austria): Huge problems remained in real economy. Central banks could help with unemployment but cannot solve it
- ECB's Knot (Netherlands) commented in Parliament on financial system that it was relatively quiet in financial markets at this time while the process of return of market trust had stagnated recently
- Hungary Central Bank gov Matolcsy reiterated view that sees more scope for cutting rates
- Hungary Central Bank Inflation Report noted that interest rates might need to rise if risk outlook worsened
- Sweden PM Reinfeldt rejected Industry proposal to introduce trading band or ceiling for SEK currency (Krona) to help the competitiveness of exporters
- Bank of Spain to limit dividend payouts by Spain banks to 30% of profits for 2013
- Russia Econ Min Ulyukayev: Russia plans RUB1.7Tin asset sales during 2013-16 period
- UK Treasury Chief Sec Alexander: Clear UK economy was moving towards recovery; Would invest 300B by the end of decade
- S&P commented on Europe and noted it saw waning recession concerns in EMU but no meaningful recovery. Raised its 2013 growth estimate for the UK and lowered projections for Germany and Italy, while cutting inflation forecast for the eurozone.
- G20 Finance Ministers likely to discuss the effect of tapering of easy monetary policy at the upcoming July meeting in Moscow. Finance Ministers would be interested in hearing China's view on the tapering matter according to Japanese officials
- Chile Fin Min Larrain said he was concerned by slowdown in China and impact on copper prices. Remained critical of way US handled QE measures. QE seen as unchartered waters; tapering process will not be an easy task
- Japan Ministry of Finance (MOF) again extended its FX monitoring process until Sept (half-year end) (**Insight: The forex position monitoring was introduced in the summer of 2011 as part of efforts to tame the yen's strength)
- China Finance Minister: Difficult to achieve Central Govt Budget Targets for 2013
- South Korean spokesperson: China backed South Korean plan for dialog with North Korea

Currencies/Fixed Income:
- FX markets saw a quiet session overall as concerns over the Fed's potential tapering has receded given recent central bank speak and softer UD Q1 final GDP reading.
- The EUR/USD managed to hold above the 1.30 handle in the session and only managed to get a slight boost from the EU finance ministers' agreement on rules for bail-ins. The ECB speaker slate continued to paint a dovish tone in terms of keeping an accommodative policy for the foreseeable future. Analysts see Draghi seen being more dovish with forward-looking communication at July 4th meeting in order to talk down short-term rates.
- The GBP currency was softer after the UK released final Q1 GDP and current account data. The lower YoY GDP revision weighed upon the GBP/USD pair to sent it below 1.5280. The JPY was back in sync with Nikkei equity moves. The USD/JPY pair moved above the 98 handle as the Nikkei225 Index surged almost 3%.

-Political/In the Papers:
- (EU) ECB's Asmussen (Germany): Monetary policy remains expansionary, to remain so for as long as necessary; it is clearly too early for the ECB exit policy - comments in Paris
- (EU) ECB's Noyer: Accommodative policy will help boost recovery later in the year; Accommodative policy will remain for as long as necessary
- (EU) ECB's Mersch: Will continue with accommodative policy, reiterates there will not be exit from policy in the foreseeable future.
- (EU) EU finance ministers: EU states reach political deal on bank bail-in rules - financial press: Bail-in deal sees resolution fund, deposit guarantee at 1.3% of covered deposits via a bank tax; New rules to begin in 2018; All unsecured bond holders must be wiped out before a troubled bank can receive funds from the ESM
- (EU) EU bank bail-in draft: EU to exclude 7-day Inter-bank loans from bail-in
- (EU) EU's Dijsselbloem: Concerned about higher interest rates
- (PT) Troika has approved disbursement of next aid tranche for Portugal
- (PT) Portugal strike to halt trains and Lisbon metro today- press
- (CN) China PBOC not conducting routine liquidity operations for today's session - financial press; Overall, PBoC set to inject CNY25B into money market this week due to maturing transactions (CNY28B was injected during the prior week)
- Some local govt failed to meet annual fiscal revenue expectations in the first five months amid economy slowdown - financial press

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (EU) EU Leaders Hold Summit in Brussels
- (IE) Ireland Fin Min Noonan in Dublin
- (CN) China Lujiazui Forum in Shanghai
- (CA) Conservative Party of Canada Convention
- OECD Economic Survey of Iceland
- (CO) Colombia May Central Govt Budget: No est v $3.1B prior
- (ES) Spain Apr Total Housing Permits M/M: No est v -23.0% prior; Y/Y: No est v -35.0% prior
- (BR) Brazil May Central Govt Budget (BRL): No est v 7.2B prior
- 06:00 (EU) EU's Rehn with Estonia PM Ansip at pre-summit meeting
- 06:00 (IE) Ireland Q1 GDP Q/Q: 0.3%e v 0.0% prior; Y/Y: 0.6%e v 0.0% prior; Current Account: No est v 2.9B prior
- 06:00 (CZ) Czech Republic to sell 12-month Bills
- 06:30 (US) Daily Libor Fixing
- 07:00 (RU) Russia Gold & Forex Reserve w/e Jun 21st: No est v $519.4B prior
- 07:00 (CZ) Czech Central Bank Interest Rate Decision: Expected to leave Repo Rate unchanged at 0.05%
- 07:00 (BR) Brazil Jun FGV Inflation IGP-M M/M: 0.7%e v 0.0% prior; Y/Y: 6.3%e v 6.2% prior
- 07:30 (EU) EU's Alumunia at Spain Competition conference
- 07:30 (BR) Brazil Central Bank Quarterly Inflation Report
- 08:00 (BR) Brazil May Manufacturing PPI M/M: No est v 0.4% prior; Y/Y: No est v 5.5% prior
- 08:30 (US) May Personal Income: 0.2%e v 0.0% prior; Personal Spending: 0.3%e v 0.2% prior </
>- 08:30 (US) May PCE Deflator M/M: +0.1%e v -0.3% prior; Y/Y: 1.1%e v 0.7% prior
- 08:30 (US) May PCE Core M/M: 0.1%e v 0.0% prior; Y/Y: 1.1%e v 1.1% prior
- 08:30 (US) Initial Jobless Claims: 345Ke v 354K prior; Continuing Claims: 2.953Me v 2.951M prior
- 08:30 (US) Weekly USDA Net Export Sales
- 08:30 (CA) Canada Apr Average Weekly Earnings Y/Y: No est v 3.1% prior
- 10:00 (US) Fed's Dudley on Labor Market in NY
- 10:00 (US) May Pending Home Sales M/M: 1.0%e v 0.3% prior; Y/Y: 8.3%e v 13.9% prior
- 10:30 (US) Weekly EIA Natural Gas Inventories
- 10:30 (BR) Brazil to sell 2014, 2015 and 2017 Bills
- 10:30 (US) Fed's Powell speaks on Monetary Policy in Washington
- 11:00 (US) Jun Kansas City Fed Manufacturing Activity: 3e v 2 prior
- 11:00 (US) Fed to purchase $4.25-5.25B in Notes
- 11:00 (EU) European Medicines Agency Releases Safety Decisions
- 12:30 (US) Fed's Lockhart Speaks on the Economy in Marietta, Georgia </
>- 13:00 (EU) ECB's Mersch (Luxembourg) speaks in Hachenburg, Germany
- 13:00 (US) Treasury to sell $29B in 7-Year Notes
-15:00 (AR) Argentina May Supermarket Sales Y/Y: No est v 11.8% prior
- 19:30 (JP) Japan May National CPI Y/Y: -0.5%e v -0.7% prior; CPI Ex-Food&Emergy Y/Y: No est v -0.6% prior </
>- 19:30 (JP) Japan May Preliminary Industrial Production M/M: 0.2%e v 0.9% prior; Y/Y: -1.1%e v -3.4% 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