User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday August 6, 2013 - 10:32:56 GMT
Trade the News Staff -

Share This Story:
| | Email EU Market Update: European data continues to show improvement; Italy Q2 GDP beat estimates EU Market Update: European data continues to show improvement; Italy Q2 GDP beat estimates
Tue, 06 Aug 2013 5:42 AM EST

- Fed's Fisher (hawk, FOMC alternate): In favor of tapering in the fall, investors cannot rely upon a "Fed put"; Should start reducing bond buying in September unless see disturbing data
- IMF's Schiff: Japan reliance on monetary policy not sustainable; Japan needs to fully implement the 'three arrows' of Abe's plan
- RBA cuts Cash Target Rate by 25bps to 2.50% (record low) and as expected); less dovish spin in its statement thus narrowing the scope for further easing
- Australia Jun Trade Balance slightly below expectations but registers 4th straight surplus
- UK July Halifax House Prices registers its 6th straight monthly gain
- UK Jun Industrial and Manufacturing Production data continues string of economic beats
- Italy Q2 GDP come in better than expected (-0.2% vs. -0.4%e) but still contracts for the 8th straight quarter (longest on record)

***Economic Data***
- (JP) Japan Jun Preliminary Leading Index CI: 107.0 v 107.3e; Coincident Index: 105.2 v 105.1e
- (IE) Ireland July Investec Services PMI: 57.6 v 54.9 prior; highest reading since Apr 2007 and 12th straight month of expansion
- (FI) Finland May GDP Indicator: -0.8 v -2.2% prior
- (UK) July Halifax House Prices M/M: 0.9% v 0.5%e; 3M/Y: 4.6% v 4.3%e
- (HU) Hungary Jun Preliminary Industrial Production M/M: +1.2 v -1.2% prior; Y/Y: 1.7% v 0.5%e
- (CZ) Czech Jun Industrial Output Y/Y: -5.3% v -2.5%e; Construction Output Y/Y: -11.1% v -15.5% prior
- (CZ) Czech Jun Trade Balance (CZK): 33.0B v 31.2Be
- (EU) ECB 20M borrowed in overnight loan facility vs. 19M prior; 85.4B parked in deposit facility vs. 87.3B prior - Daily Eurosystem Liquidity Conditions
- (IT) Italy Jun Industrial Production M/M: 0.3% v 0.3%e; Y/Y: -5.1% v -4.2% prior; Industrial Production WDA Y/Y: -2.1% v -3.5%e
- (UK) July New Car Registrations Y/Y: 12.7% v 13.4% prior
- (UK) Jun Industrial Production M/M: 1.1% v 0.7%e; Y/Y: 1.2% v 0.8%e
- (UK) Jun Manufacturing Production M/M: 1.9% v +1.0%e; Y/Y: 2.0% v +1.0%e
- (IT) Italy Q2 Preliminary GDP Q/Q: -0.2% v -0.4%e (eighth straight quarterly contraction); Y/Y: -2.0% v -2.2e

- (CY) Cyprus July CPI Harmonized M/M: -1.1% v +0.6% prior; Y/Y: -0.7% v +0.8% prior
- (GR) Greece July CPI Y/Y: -0.7% v -0.4% prior; CPI EU Harmonized Y/Y: -0.5% v -0.3% prior

Fixed Income:
- (NO) Norway sold NOK3.0B in 5% 2015 Bonds; Yield: 1.58% v 1.35% prior; Bid-to-cover: 1.8x
- (AT) Austria Debt Agency (AFFA) sold 770M vs. 770M indicated in 1.75% 2023 RAGB Bonds; Avg Yield 2.072% v 1.903% prior; Bid-to-cover: 2.24x v 2.24x prior
- (GR) Greece Debt Agency (PDMA) sold 812.5M vs. 625M in 26-week bills; Avg Yield: 4.20% v 4.20% prior; Bid-to-cover: 1.77 x v 1.70x prior
- (CH) Switzerland sold CHF810.2M in 3-month bills; Yield: -0.087% v -0.096% prior
- (EU) ECB allotted 99.4B in 7-day main Refi Tender vs. 107Be
- (EU) ECB allotted 3.9B in 1-month Refinancing Tender at fixed 0.50% vs. 3.0Be
- (HU) Hungary Debt Agency (AKK) sold HUF55B vs. HUF50B indicated in 3-month Bills; Avg Yield: 3.98% v 3.97% prior; Bid-to-cover: 2.00x v 1.66x prior
- (UK) DMO sold 4.5B in 1.25% 2018 Gilts; Avg Yield: 1.405% v 1.422% prior; Bid-to-cover:1.37 x v 1.33x prior ; Tail bps v 1.6bps prior


FTSE 100 flat at 6,620,
DAX +0.30% at 8,422, CAC-40 +0.24% at 4,059, IBEX-35 +0.30% at 8,590, FTSE MIB +0.30% at 16,810, SMI +0.80% at 8,038, S&P 500 Futures flat at 1,703

- Equity markets in Europe are broadly higher, led, by gains in the Spanish IBEX-35 index. European banks are currently trading mixed. Outperformers in the banking sector include Standard Chartered and Credit Agricole, while laggards include Lloyds after recent gains. During the US morning, UniCredit is due to report its H1 results. Resource-related firms are broadly lower, amid the mixed price action seen for commodity prices. UK retailers are mostly higher, supported by BRC retail sales figures for July.

- UK movers [Rotork +7% (H1 profits rose y/y), Standard Chartered +3% (H1 sales rose y/y, raised dividend), Legal & General +3% (H1 profits rose y/y), InterContinental Hotels +3% (raised dividend) ;Greggs -7% (cut outlook), Fresnillo -6.5% (cut dividend), Hill & Smith -5% (profit warning)]
- Germany movers [Xing +11% (Q2 EBITDA +15%), Praktiker +8% (reached supplier agreement), Sky Deutschland +6.5% (Q2 results above ests), Deutsche Post +3% (raised profit forecast), Bayer +1.5% (data on RIOCIGUAT); Salzgitter -10% (profit warning), Munich Re -4% (Q2 net below ests), Lanxess -3% (cautious outlook), SDF -2.5% (S&P placed rating on watch negative), Merck -2.5% (Q2 net profit below ests)]
- France movers [Credit Agricole +1.5% (Q2 results above ests)]
Italy movers [Impreglio +4.5% (swung to H1 net profit); Pirelli -3.5% (reported Q2 results and gave FY sales outlook)]
- The Netherlands [DSM +5% (Q2 results above ests)]

- ECB's Praet (Belgium) stated that forward guidance included an easing bias and reiterated the view that ECB had not reached the lower bound of interest rates

- ECB's Coeure (France): Many EMU banks have limited room to expand lending thus making alternatives more pressing
- Turkey Central Bank July Inflation Report noted that TRY currency depreciation was starting to affect core inflation. CPI rise spurred by weaker Lira and base effect but inflation was seen slowing downtrend in coming months
- India said to appoint Raghuram Rajan as next RBI governor. Rajan currently serves as Chief Econ Adviser to Finance Ministry
- BoJ said to have purchased 20.8B of ETF's
- Daiwa analyst Grace Wu: China could cut RRR nine times by total 450bps between 2013-15 period
- China National Development and Reform Commission (NDRC): Expected most Chinese regions to achieve their growth targets. China could issue Beijing regional development plan
- US State Dept warns all US citizens to leave Yemen immediately

Currencies/Fixed Income:
- The European economic data continued to be constructive and aided the Euro and GBP currency pairs.
- The EUR/USD remained contained in its recent range but still trying to find the momentum for a sustainable break above the 1.33 level.
- The UK parade of better economic data continued with July Industrial and Manufacturing data beating expectations. The GBP/USDS was inching it ways towards the 1.54 neighborhood as a result.
- The USD/USD regained a foothold above the 98 handle in late Asia aided by the rise in the Nikkei and benefited from news that the Japan civil service pension fund may up its allocation to stocks. Dealers noted that any break of 97.50 could open up downside momentum to retest the 94 area. The level was defended by Japanese importers earlier today
- AUD moved higher following the RBA rate decision. Dealers noted that the statement was less dovish compare to a recent speech given by Gov Stevens in late July. RBA left out of its rate statement this time around - namely that the outlook for inflation may provide some scope for further easing.
- China likely to control appreciation pace in CNY currency (Yuan) and possible allow some depreciation to ease pressure on exports

Political/In the Papers:
- US President Obama to propose changes to the mortgage finance system today. Includes the elimination of Fannie and Freddie, replacing them with private loans which will then be securitized, Govt re-insurance to back stop private firms in the event of a crisis
- (US) S&P's Chambers: Outlook for US is more constructive now than it was in June, when S&P raised the outlook on the US sovereign rating to stable from negative
- (US) Fed's Fisher: Should start reducing bond buying in September unless see disturbing data - comments to reporters; Not seeing any risks of deflation.
- (UK) UniCredit chief economist Erik Nielsen looks at the options for the BoE in terms of forward guidance - FT; Suggests if the BoE adopts a soft version of forward guidance this could disappoint markets
- (CN) Asian Development Bank (ADB) economist Rhee: Might again cut China 2013, 2014 GDP forecasts - financial press interview
- USD/CNY: (CN) China may allow small amount of depreciation in CNY - financial press
- (JP) Japan pension fund could reduce allocation target of yen bonds from 80%; increase domestic stocks from 5% - financial press
- (JP) IMF's Schiff: Japan reliance on monetary policy not sustainable; Japan needs to fully implement the 'three arrows' of Abe's plan; calls for Japan to lower d
- (IT) Italy PM Letta: Reiterates need to change electoral laws quickly, without change the old laws would only deliver another jolt of instability - Italy press
- (ES) Fitch comments on Spain regional fiscal targets: The introduction of individual 2013 deficit targets for Spain's autonomous communities will have a mixed impact
- (FR) IMF recommends France should slow its fiscal consolidation program in 2014; IMF forecasts France 2013 GDP at -0.2%, 2014 at +0.8% (in line with the IMF's WEO issued in July); Forecasts unemployment rate at 11.2% in 2013, 11.6% for 2014, and 11.4% in 2015

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (FI) Finland Finance Ministry holds talks to draft 2014 Budget
- (PT) Bank of Portugal releases Data on Banks
- (MX) Banamex Survey of Economists
- 06:00 (DE) Germany Jun Factory Orders M/M: +1.0%e v -1.3% prior; Y/Y: +0.3%e v -2.0% prior
- 06:30 (EU) ESM to sell 3.0B in 3-month bills; Avg Yield: % v +0.009% prior; Bid-to-cover: x v 2.80x prior (July 9th)
- 06:30 (US) Daily Libor Fixing
- 07:00 ECB allotment in 7-day Term Deposit Tender to offset Govt Bond Purchases under SMP; to drain 192.5B
- 07:00 (BR) Brazil July FGV Inflation IGP-DI M/M: 0.2%e v 0.8% prior
- 07:45 (US) Weekly ICSC Chain Store Sales
- 08:30 (CA) Canada Jun Int'l Merchandise Trade: -C$510Me v -C$0.30B prior
- 08:30 (US) Jun Trade Balance: -$43.5Be v -$45.0B prior

- 08:55 (US) Weekly Redbook Retail Sales
- 09:00 (MX) Mexico Jun Leading Indicators M/M: No est v 0.02prior
- 09:00 (EU) Weekly ECB Forex Reserves
- 09:30 (BR) Brazil July Vehicle Production: No est v 320.8K prior; Vehicle Sales: No est v 318.6K prior; Vehicle Exports: No est v 51.2K prior
- 10:00 (US) Aug IBD/TIPP Economic Optimism: 47.5e v 47.1 prior
- 10:00 (US) Jun JOLTs Job Openings: 3.9Me v 3.828M prior
- 10:00 (UK) July NIESR GDP Estimate: No est v 0.6% prior
- 10:00 (MX) Mexico Weekly International Reserves
- 10:00 (MX) Mexico July Vehicle Production: No est v 266.4K prior; Vehicle Domestic Sales: No est v 83.7K prior; Vehicle Exports: No est v 225.8K prior
- 11:00 (US) Fed to purchase $4.75-5.75B in Notes
- 11:30 (US) Treasury to sell $45B in 4-Week Bills
- 12:00 (US) DOE Aug Short-Term Crude Outlook:
- 13:00 (US) Treasury to sell $32B in 3-Year Notes
- 13:00 (US) Fed's Evans speaks to Reporters in Chicago
- 16:30 (US) Weekly




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."

Actionable trading levels delivered to YOUR charts in real-time.

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 15 Oct 2018
AA 12:30 US- Retail Sales
Tue 16 Oct 2018
AA 08:30 GB- Employment
A 09:00 DE- ZEW Survey
A 13:15 US- Industrial Production
Wed 17 Oct 2018
AA 08:30 GB- CPI
A 09:00 EZ- Final HICP
A 12:30 US- Housing Starts/Permits
A 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
AA 18:00 US- Fed Policy Minutes
Thu 18 Oct 2018
A 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 12:30 US- Weekly Jobless
Fri 19 OCt 2018
AA 12:30 CA- CPI/ Retail Sales

John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105