User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday August 14, 2013 - 10:42:44 GMT
Trade the News Staff -

Share This Story:
| | Email EU Market Update: Euro Zone moves out of recession; BOE minutes shows dissent on forward guidence EU Market Update: Euro Zone moves out of recession; BOE minutes shows dissent on forward guidence
Wed, 14 Aug 2013 5:40 AM EST

- India inflation picks up due toi effects from weaker rupee currency
- Upside surprises in France, Germany and Portugal GDP, FX unimpressed while bond yields continue to climb
- Euro Zone official moves out of recession in Q2
- BOE Minutes shows a dissent on forward guidance vote; Jobless Claims change data better than expected for it 9th straight decline
- German 10-year Bund auction results 'soggy' with yield at 18-month high and soft bid-to-cover

***Economic Data***
- (FR) France Q2 Preliminary GDP Q/Q: 0.5% v 0.2%e; Y/Y: +0.3% v -0.1%e
- (DE) Germany Q2 Preliminary GDP Q/Q: 0.7% v 0.6%e; Y/Y: 0.9% v 0.7%e; GDP WDA Y/Y: 0.5% v 0.2%e

- (IN) India July Wholesale Prices (WPI) Y/Y: 5.8% v 5.0%e; first rise above 5% in four months
- (FR) France July CPI M/M: -0.3% v -0.3%e; Y/Y: 1.1% v 1.1%e; CPI Ex-Tobacco Index: 125.35 v 125.38e
- (HU) Hungary Q2 Preliminary GDP Q/Q: 0.1% v 0.3%e; Y/Y: 0.5% v 0.6%e
- (CZ) Czech Q2 Preliminary GDP Q/Q: 0.7% v 0.5%e; Y/Y:-1.2% v -1.4%e
- (CH) Swiss July Producer & Import Prices M/M: 0.0% v 0.2%e; Y/Y: 0.5% v 0.5%e
- (NL) Netherlands Q2 Preliminary GDP Q/Q: -0.2% v -0.1%e; Y/Y: -1.8% v -2.0%e
- (SE) Sweden Jun Industrial Production M/M: 3.0% v 1.0%e; Y/Y: -4.0% v -6.4%e
- (PL) Poland Q2 Preliminary GDP Q/Q: 0.4% v 0.3%e; Y/Y: 0.8% v 0.7%e
- (UK) BOE Minutes: Voted 9 to 0 (unanimous) to leave Interest Rates unchanged at 0.50%
- (UK) BOE Minutes: Voted 9 to 0 (unanimous) to maintain Asset Purchase Target at 375B; (second straight unanimous vote under Gov Carney)
- (UK) BOE Minutes: Voted 8 to 1 on forward guidance; member Weale dissented
- (UK) July Jobless Claims Change: -29.2K v -15.0Ke (9th straight decline); Claimant Count Rate: 4.3% v 4.4%e

- (UK) Jun Average Weekly Earnings 3M/Y: 2.1% v 2.0%e; Weekly Earnings ex Bonus 3M/Y: 1.1% v 1.1%e
- (UK) Jun ILO Unemployment Rate 3M/3M: 7.8% v 7.8%; Employment Change 3M/3M: +69K v +34Ke
- (PT) Portugal Q2 Preliminary GDP Q/Q: +1.1% v +0.1%e; Y/Y: -2.0% v -2.9%e
- (CH) Swiss Aug Credit Suisse ZEW Expectations Survey: 7.2 v 4.8 prior
- (EU) Euro Zone Q2 Advance GDP Q/Q: 0.3% v 0.2%e; Y/Y: -0.7% v -0.8%e

Fixed Income:
- (IN) India sold total INR120B vs. INR120B indicated in 3-month and 6-month Bills
- (EU) ECB allotted $0.0M in 7-Day USD Liquidity Tender at fixed 0.59% vs. $0.0M prior
- (EU) ECB allotted $131M in 3-month USD Liquidity Tender at fixed 0.60% vs. $27M prior
- (SE) Sweden sold SEK10B in 3-month bills; Yield: 0.8907% v 0.9404% prior
- (DE) Germany sold 3.231B in 1.5% 2023 bunds; Avg Yield: 1.80% (highest since Feb 2012) v 1.57% prior; Bid-to-cover: 1.3x v 1.58x prior


Indices [EuroStoxx50 flat,
FTSE 100 -0.20% at 6,598, DAX +0.20% at 8,429, CAC-40 +0.20% at 4,101, IBEX-35 -0.30% at 8,728, FTSE MIB -0.40% at 17,317, SMI +0.50% at 8,075, S&P 500 Futures -0.20% at 1,687]

Market Focal Points: France, Germany, Portugal Q2 GDP better than expected; Hawkish BoE minutes; FTSE 100 ex-dividends; UK jobs data

By Sector
- Basic Resource
s [ThyssenKrupp-3% TKA.DE (capital raise concerns), ENRC ENRC.UK -3% (H1 profits declined), Rio Tinto RIO.UK -2.5% (ex-dividend), Anglo American AAL.UK -2% (ex-dividend), Ferrexpo FXPO.UK -2% (ex-dividend); New World Resources NWR.UK +15% (8-week high), Salzgitter SZG.DE +1.5% (confirmed outlook), Glencore GLEN.UK +0.30% (H1 production update); Stoxx Basic Resources index +0.50%]
- Energy [Solar World SWV.DE -8% (H1 results), Repsol REP.ES -1.5% (broker commentary), Shell RDSA.UK -0.80% (ex-dividend); Stoxx Energy index -0.30%]
- Healthcare [Glaxo GSK.UK +0.50% (broker commentary); Celesio CLS1.DE -1.5% (cut outlook), William Demant WDH.DK -1.5% (H1 results below ests), Astrazeneca AZN.UK -1.5% (ex-dividend)]
- Financials [Swiss Life SLHN.CH +3% (H1 profits above ests); Deutsche bank DBK.DE -1% (broker commentary), Standard Chartered STAN.UK -1% (ex-dividend); Stoxx Financial index +0.10%]
- Industrials [Subsea7 SUBC.NO +8% (Q2 results above ests); Balfour Beatty BBY.UK -3.5% (H1 profits declined y/y), Hochtief HOT.DE -1.5% (cautious outlook); Stoxx Industrial index +0.30%]
- Utilities [RWE RWE.DE -5% (H1 net profit below ests); Stoxx Utilities index -2%]
- Consumer Discretionary [Rentokil RTO.UK +8.5% (Q2 profits rose y/y), GFk GFK.DE +3% (Q2 profits rose y/y), Heineken HEIA.NL +0.50% (broker commentary); Diageo DGE.UK -1.5% (ex-dividend)]
- Telecom [United Internet UTDI.DE +6% (H1 profits rose y/y); Portugal Telecom PTC.PT -4% (Q2 results below ests), KPN KPN.NL -3% (shareholder concerns related to AMX's proposal); Stoxx telecom index -0.4%]

- Bank of England (BOE) Monetary Policy Committee Minutes took three votes (interest rates, Asset Purchases and forward guidance). Voted 8 to 1 on Forward guidance with Weale dissenting.
BOE did not rule out more QE; Split on cost of more QE in return to normal policy. Further QE not appropriate at current time.
- BOE member Weale: Supportive of forward guidance, not time horizon; wanted shorter first inflation knockout time horizon; Saw particularly compelling need to manage risk that guidance pushes up medium-term inflation expectations.
- (EU) EU's Rehn: There is evidence the economy is gaining momentum; recovery is within reach
- SNB's Zurbruegg commented that the worst has been avoided with the Swiss Franc cap but reiterated that the CHF currency remained high. He was not concerned about inflation. Reaffirmed 2013 GDP growth forecast between 1.0-1.5% and inflation outlook at -0.3%
- Germany's BDI Industrial Assoc cut its 2013 GDP forecast to +0.5% from +0.8% noting that it would be difficult to meet export growth of 3.5% this year
- Former PBoC advisor Fan Gang: China can grow at or above the official 7.5% level

Currencies/Fixed Income:
- BOE Minutes and UK data raise further question marks over the validity of the BoE's formal guidance. The GBP/USD probed above the 1.55 level in session after the release of key UK data. Dealers noted that UK Short Sterling futures was currently forecast UK interest rates to begin rising in Q3 2014 compared to BOE's guidance of Q1 2016.
- The better-than-expected European GDP data did little to move the Euro currency. The pair was at 1.3265 just ahead of the NY morning. Front-month German Bund futures recovered most of their earlier losses and were little changed on the day ahead of the NY morning. 10-year Bund yield is up 0.5bps at 1.81%, the Italian and Spanish yields were a few bps lower.
- EUR/CHF cross move above 1.2410 for the first time in over a month

Political/In the Papers:
- (IT) Italy Treasury said to intend to maintain its 2013 debt issuance plans even in light of satisfying approx 80% of its borrowing needs for the year - financial press
- (IT) Italy President Napolitano: The court verdict in the Berlusconi case must be applied, including jail sentence; a govt crisis would be fatal; Have not received any request for a pardon for Berlusconi.
-(ES) Former Popular Party (PP) secretary generals Francisco lvarez-Cascos and Javier Arenas admitted to the Spain Constitution Court that they lacked control over political donations and state subsidies during their terms - EL Pais
- (ES) Catalonia's largest separatist party has expressed support for Gibraltar - FT
- (US) A minority of economists believe that US fiscal disagreements could slow the pace of Fed tapering - FT
- (US) Fed's Lockhart (moderate, FOMC non-voter): Any change in QE should be a cautious first step, must still be data dependent
-Apple [AAPL]: Carl Icahn: We currently have a large position in Apple, we believe the company to be extremely undervalued - twitter

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- 06:00 (PL) Portugal Q2 YTD Labour Costs: No est v -0.3% prior
- 06:00 (IE) Ireland Jun Trade Balance: No est v 3.1B prior
- 06:30 (US) Daily Libor Fixing
- 07:00 (RU) Russia to sell RUB20B in 2018 and 2019 OFZ bonds
- 07:00 (US) MBA Mortgage Applications w/e Aug 9th: No est v +0.2% prior
- 07:00 (ZA) South Africa Jun Retail Sales Constant M/M: -0.2%e v +2.2% prior; Y/Y: 3.0%e v 6.2% prior
- 08:00 (AR) Argentine Econ Min talks at Exporters Meeting
- 08:00 (BR) Brazil Jun Retail Sales M/M: 0.6%e v 0.0% prior; Y/Y: 2.1%e v 4.5% prior; Retail Sales Broad Y/Y: -1.3%e v +4.4% prior
- 08:00 (PL) Poland July M3 Money Supply M/M: No est v 0.6% prior
- 08:00 (PL) Poland July CPI M/M: -0.2%e v 0.0% prior; Y/Y: 0.5%e v 0.2% prior
- 08:30 (US) July PPI M/M: 0.3%e v 0.8% prior; Y/Y: 2.4%e v 2.5% prior
- 08:30 (US) July PPI Ex Food and Energy M/M: 0.2%e v 0.2% prior; Y/Y: 1.3%e v 1.7% prior

- 08:30 (CL) Chile Central Bank's Traders Survey
- 09:00 (CA) July Teranet/National Bank HPI M/M: 0.5%e v 1.0% prior; Y/Y: No est v 1.8% prior; House Price Index: No est v 157.0 prior
- 10:30 (US) Weekly DOE U.S. Crude Oil Inventories
- 11:00 (DE) German Chancellor Merkel holds campaign rally in Seligenstadt
- 11:00 (US) NY Fed Household Debt and Credit Report
- 11:00 (US) Fed to purchase $1.25-1.75B in Notes
- 11:30 (BR) Brazil Central Bank weekly Currency Flow
- 12:00 (CA) Canada to sell 10 Year Notes
- 13:00 (DE) German Chancellor Merkel holds campaign rally in Ludwigshafen
-15:15 (US) Fed's Bullard on monetary policy in KY



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 12 Nov 2018
AA CA/US Holiday
Tue 13 Nov 2018
AA 09:30 GB- Employment
A 09:00 DE- ZEW Survey
Wed 14 Nov 2018
AA 09:30 GB- CPI
AA 09:30 EZ- GDP
A 14:30 US- EIA Crude
Thu 15 Nov 2018
A 01:30 AU- Employment
AA 09:30 GB- Retail Sales
A 12:30 US- Weekly Jobless
Fri 16 Nov 2018
AA 10:00 EZ- Final HICP
A 14:15 US- Ind Prod/Cap Util

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