User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday July 15, 2013 - 10:12:20 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: Quiet start to week after following some relief from China's Q2 GDP reading

TradeTheNews.com EU Market Update: Quiet start to week after following some relief from China's Q2 GDP reading
Mon, 15 Jul 2013 5:50 AM EST

***Notes/Observations***
- (PT) Portugal's top 3 parties said to have set July 21st deadline to agree on "national salvation pact" in order to preserve the 78B international rescue
- (CN) China Q2 Real GDP Q/Q: 1.7% vs. 1.8%e; Y/Y: 7.5% vs. 7.5%e;
- (CN) China Jun Industrial Production Y/Y: 8.9% vs. 9.1%e; YTD: 9.3% vs. 9.3%e
- (CN) China Jun Retail Sales Y/Y 13.3% vs. 12.9%e
- (CN) China National Bureau of Statistics (NBS): China H1 main economic data within rational range; economic growth was stable; Conditions were in place to achieve 2013 GDP target 7.5%
- (CN) China PBOC Gov Zhou reiterated stance on prudent monetary policy and would fine-tune policy at appropriate time
- Dealers ponder whether Germany might be next to encounter a sovereign downgrade and lose its AAA rating
- Fed Chairman Bernanke Congressional testimony looming mid-week likely to keep risk appetite intact.


***Economic Data***
- (SG) Singapore May Retail Sales M/M: +2.1% v -1.0%e; Y/Y: 3.2% v 1.5%e; Retail Sales Ex Auto Y/Y: 3.1% v 0.3% prior
- (FI) Finland Jun CPI M/M: -0.1 v 0.0% prior; Y/Y: 1.4% v 1.6% prior
- (FI) Finland May Final Retail Sales Volume Y/Y: 1.9 v 2.7% prelim
- (IN) India Jun Monthly Wholesale Prices (WPI) Y/Y: 4.9% v 4.9%e
- (CH) SNB Sight Deposits for Week Ended July 12th (CHF): 323.8B v 321.0B prior
- (CZ) Czech May Export Price Index Y/Y: 0.6% v 2.4% prior; Import Price Index Y/Y: -1.1% v +0.8% prior
- (CZ) Czech Jun PPI (Industrial) M/M: +0.1% v -0.1%e; Y/Y: 0.7% v 0.6%e
- (DK) Denmark Jun Wholesale Prices M/M: 0.0% v -0.1% prior; Y/Y: +0.6% v -0.1% prior
- (FI) Finland May Current Account: +0.3B v -1.4B prior
- (TR) Turkey Apr Unemployment Rate: 9.3% v 9.2%e
- (EU) ECB 135M borrowed in overnight loan facility vs. 182M prior; 94.6B parked in deposit facility vs. 86.4B prior - Daily Eurosystem Liquidity Conditions
- (CH) Swiss Jun Producer & Import Prices M/M: 0.1% v 0.1%e; Y/Y: 0.2% v 0.2%e
- (NL) Netherlands May Trade Balance: 4.6B v 3.5B prior
- (NL) Netherlands May Retail Sales Y/Y: -0.6% v -0.3% prior
- (NO) Norway Jun Trade Balance (SEK): 32.0B v 30.1B prior
-(PH) Philippines May Overseas Workers Remittances: $1.9B v $1.8B prior, +5.3% y/y

Fixed Income:
(NL) Netherlands Debt Agency (DSTA) sold total 3.1B vs. 3.0-5.0B indicated range in 3-month and 6-month bills

- Sold 2.04B vs. 2.0-3.0B indicated in 3-month bills; Yield:-0.01% v -0.02% prior; Bid-to-cover: 2.43x v 1.89x prior
- Sold 1.06B vs. 1.0-2.0B indicated in 6-month Bills; Yield +0.01% v +0.030% prior; Bid-to-cover: 2.6x v 2.78x prior

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

***Equities***
Indices: FTSE 100 +0.70% at 6,588,
DAX +0.50% at 8,255, CAC-40 +0.70% at 3,883, FTSE MIB +0.70% at 15,532, SMI +0.40% at 8,011, S&P 500 Futures +0.20% at 1,673

- Equity markets in Europe are braodly higher, as China's Q2 GDP met analysts expectations. Gains have been seen for most European banks, although shares of Santander and Portuguese banks have underperformed. Resource related firms are mostly higher, supported by China's GDP data. Looking ahead, US June retail sales and July Empire Manufacturing data is due for release today. Also, Citigroup is due to report its quarterly earnings during the US morning.

- UK movers [New World Resources -7% (concerns related to Paskov mine), Sthree -4% (H1 profits declined y/y)]
- Germany movers [Praktiker +55% (bid speculation), Commerzbank +2% (speculation that Germany could sell stake), Rheinmetall +1% (order from Qatar), Fresenius +1% (broker commentary), Siemens +1% (speculation that Q3 profits may exceed analyst ests); IVG -5% (funding concerns), Kloeckner -1% (cautious CFO commentary)]
- France movers [Carrefour +2% (broker commentary), Cap Gemini +2% (broker commentary); Air France -1% (broker commentary)]
- Switzerland movers [Kuehne Nagel +3% (H1 profits above ests)]

Speakers:
- ECB's Hansson (Estonia) reiterated that conditionality on forward guidance was important and hinged on expectations.
ECB mandate complicated given more definitive forward guidance. He reiterates that negative rates and LTROs remained a part of the Central bank's toolkit He reiterates that ECB had room to go lower on all Key rates; reiterates the 0.50% in not the lower boundary for Main Refi Rate. Still unclear if the current improvement in the economy was a turning point or is temporary
- Germany's Finance Minister Schaeuble expected to this week announce plans to establish an investment fund for SMEs
- Spain Fin Min de Guindos commented that the country was starting to see light at end of tunnel and could not afford to slow the pace of structural reforms. PM Rajoy's only concern is the public interest
- Spain opposition party PSOE reiterated its call for PM Rajoy's resignation after the release of further evidence of Rajoy's connection with former PP Treasurer Barcenas. Newly released text messages reveled Rajoy was keeping in touch with Barcenas as late as March 6, 2013 and offering his support even after Baracenas was accused of holding millions in Swiss bank accounts
- Turkey Central Bank Gov Basci commented that a measured step to widen interest rate corridor to be on agenda at next monetary policy meeting on July 23rd. Global uncertainties and volatilities had increased but will not allow these developments to impact price and financial stability. To double credit line to exporters to support exports and increase net reserves in the central bank
- Turkey Fin Min Simsek: Turkey economy is recovering in 2013. Have room to maneuver on budget and would meet budget targets comfortably. No tax changes on agenda at this time' not considering lowering consumption taxes and unaware of any planned increases to natural gas prices
- Hungary Central Bank Gov Matolcsy suggested that IMF close its Budapest office
- Russia might raise oil export duties 2.9% yo $379.80/ton on Aug 1st

Currencies/Fixed Income:
- The USD began the week slightly firmer despite risk sentiment finding some relief from China's Q2 GDP reading which came in at 7.5% y/y and in line with expectations). The greenback seemed to benefit from a lot of Eurozone uncertainty but well contained within the 1.28-1.32 range exhibited late last week.
. Portugal political uncertainty remained in the spotlight as all three main parties agreed to talk and set a July-21 deadline for the 'national salvation pact' to keep it's 78B bailout on track. Some dealers pondering whether Germany is at risk of a sovereign downgrade from its AAA rating
The EUR/USD was at 1.3030 as the NY morning approached
- The USD/JPY pair edged back towards parity
- Looking ahead FX dealers were noting it was hard to be too bullish the greenback with Fed Chairman Bernanke Congressional testimony looming mid-week.

Political/In the Papers:
- (FR) Fitch cut France's Sovereign Rating from AAA to AA+ (one notch); Outlook Stable. Fitch raised France's peak debt forecast to 96% from 94%; Economic output and forecasts are substantially weaker than when Fitch revised the Outlook to Negative.
- France President Hollande affirmed expectation to reverse the rise in unemployment by the end of the year - financial press
- (GR) Greece Fin Min Stournaras: Reiterates reaching a primary surplus by the end of the year is the main economic target; not worried about a fiscal gap in this year or next - ekathimerini
- (IT) S&P Takes Various Rating Actions On Italian Banks (following sovereign downgrade on July 9th)
- (ES) Spain opposition leader Rubalcaba: To sever all ties with PM Rajoy because of a "secret payment" scandal - financial press: Says: "Given the unsustainable political situation in Spain, the Socialist Party calls for the immediate resignation of Mariano Rajoy as head of the government."
- (ES) Spain Fin Min de Guindos: EU bailout of Spain's banking sector helped avoid a full state rescue; Does not expect to request more funds - El Pais
- (ES) Spain Constitutional court upholds decision to suspend autonomous region Catalan's declaration of regional sovereignty - El Pais
- (ES) Spain banks said to be requesting conversion of 15B to 30B of deferred tax assets to tax credits - financial press
- (US) Fed's Williams (dove, FOMC non-voter): Current Fed policy is appropriate; Not concerned with "too-low" inflation; Employment data is encouraging and have been for some time.
- (US) Fed's Bullard (dovish FOMC dissenter): Would be concerned if inflation stagnates at 1% level for approx 6 months; Lower inflation would require a Fed response
- (US) Fed's Plosser (hawkish, non-voter): There are large risks attached to exit from QE policy; costs are outweighing risks; declines to comment if he would support tapering as soon as the July 31 FOMC meeting.

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (PE) Peru Jun Unemployment Rate: No est v 5.7% prior
- (PE) Peru May Economic Activity Index Y/Y: No est v 7.7% prior
- 06:00 (IL) Israel to sell Bonds
- 06:00 (RO) Romania to sell Bills
- 06:00 (TR) Turkey to sell 2018 and 2023 bonds
- 06:15 (EU) OECD chief Gurria in Madrid
- 06:30 (US) Daily Libor Fixing
- 07:30 (BR) Brazil Central Bank Weekly Economists Survey
- 07:30 (TR) Turkey Central Bank expectation Survey
- 08:00 (US) Fed's Tarullo on banking regulation in Wash DC
- 08:00 (PL) Poland Jun CPI M/M: +0.1%e v -0.1% prior; Y/Y: 0.3%e v 0.5% prior
- 08:00 (ES) Spain Debt Agency (Tesoro) announces size of upcoming Bill and bond auctions
- 08:30 (US) July Empire Manufacturing: 5.00e v 7.84 prior
- 08:30 (US) Jun Advance Retail Sales: 0.8%e v 0.6% prior; Retail Sales Less Autos: 0.5%e v 0.3% prior; Retail Sales Ex Auto & Gas: 0.4%e v 0.3% prior

- 08:45 (ES) Spain PM Rajoy with Poland PM Tusk
- 08:50 (FR) France Debt Agency (AFT) to sell combined 8.0B in 3-month, 6-month, and 12-month bills
- 09:00 (PL) Poland Jun YTD Budget Level (PLN): No est v -309.4B prior; Budget Performance: No est v 87.0% prior
- 09:00 (BE) Belgium May Trade Balance: No est v 83.1M prior
- 09:00 (CA) Canada Jun Existing Home Sales M/M: No est v 3.6% prior
- 09:30 (EU) ECB calls for bids in 7-Day Main Refinancing Tender
- 09:30 (EU) ECB announces prior settlements in SMP program to offset bond purchases
- 10:00 (US) May Business Inventories: 0.0%e v 0.3% prior
- 11:00 (DE) ECB's Asmussen (Germany)

- 11:00 (US) Fed to purchase $0.75-1.00B in Bonds
- 11:30 (US) Treasury to sell combined $55B in 3-Month and 6-Month Bills
- 11:30 (IL) Israel Jun CPI M/M: 0.7%e v 0.1% prior; Y/Y: 1.9%e v 0.9% prior
- 21:30 (AU) RBA Policy July Meeting

 

 

 

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