User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday August 28, 2013 - 09:58:10 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: Oil retreats from its overnight highs as Syria remains in focus

TradeTheNews.com EU Market Update: Oil retreats from its overnight highs as Syria remains in focus
Wed, 28 Aug 2013 5:33 AM EST

***Notes/Observations***
- Focus remains on Mid-East tensions; US to release proof of Syria chemical attacks on Thursday
- WTI Oil contract hits highest level since Aug 2008 above $112/barrel; bulk of gains evaporate on speculation that SPR might be tapped
- Emerging market currencies continue to bear brunt of volatility; Indian Rupee hits fresh record lows above 68 level

***Economic Data***
- (DE) Germany July Import Price Index M/M: +0.3% v 0.3%e; Y/Y: -2.6% v -2.5%e

- (CH) Swiss July UBS Consumption Indicator: 1,41 v 1.41 prior
- (DE) Germany Sept GfK Consumer Confidence: 6.9 v 7.1e
- (SE) Sweden Aug Manufacturing Confidence: 100.1 v 95.4e; Consumer Confidence: 99.3 v 98.3 prior; Economic Tendency Survey: 98.8 v 96.8e
- (TR) Turkey Aug Consumer Confidence Index: 77.2 v 78.5 prior
- (EU) ECB 229M borrowed in overnight loan facility vs. 140M prior; 80.4B parked in deposit facility vs. 82.7B prior - Daily Eurosystem Liquidity Conditions
- (IT) Italy Jun Retail Sales M/M: -0.2% v 0.0%e; Y/Y: -3.0% v -1.2% prior
- (EU) Euro Zone July M3 Money Supply Y/Y: 2.2% v 2.0%e; M3 3-month average: 2.5% v 2.4%e

- (IS) Iceland Aug CPI M/M: +0.3% v -0.3%e; Y/Y: 4.3% v 3.9%e

Fixed income:
- (EU) EFSF to sell 3.0B in new Sept 2034 bond at +37bps over mid-swaps
- (FI) Finland opened its book to sell 5-year Euro-denominated bonds; guidance seen at -15bps to mid-swaps with order book over 6.0B
- (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 % vs. $0.0M prior; 9th straight week of no allotment)
- (IT) Italy Debt Agency (Tesoro) sold 8.5B vs. 8.5B indicated in 6-month Bills; Avg Yield: 0.886% v 0.0799% prior; Bid-to-cover: 1.47x v 1.47x prior
- (EU) ECB allotted 6.8B in 3-month Refi Tender at fixed 0.50% vs. 5.0Be

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
**Equities
Indices: [Stoxx50 flat,
FTSE 100 -0.30% at 6,418, DAX -0.60% at 8,195, CAC-40 flat at 3,970, IBEX-35 -0.20% at 8,381, FTSE MIB +0.80% at 16,706, SMI -0.80% at 7,825, S&P 500 Futures +0.10% at 1,630]

Market Focal Points: Some stability in emerging markets amid pullback in oil prices, Mixed French Earnings (Accor, Bougyues), Higher oil prices weigh on airline and support shares of energy producers, FTSE MIB outperforms amid rebound in Italian banks, Upcoming speech from BoE Gov Carney and Italian cabinet meeting on IMU property tax

By Sector
- Industrials
[Agfa Gevaert AGFB.BE -1.5% (H1 sales declined y/y), BMW BMW.DE -1% (renewed speculation about possible luxury tax in China); Bouygues EN.FR +6% (Q2 op profit rose y/y), Finmeccanica FNC.IT +2% (renewed speculation related to Ansaldo unit)]
- Healthcare [Oxford Biomedical OXB.UK +19% (milestone payment), Algeta ALGETA.NO +4.5% (H1 results above ests)]
- Utilities [GDF Suez GSZ.FR +1.5% (broker commentary)]
- Financials [Large Italian banks rebound from recent losses (UniCredit UCG.IT+1%), Commerzbank CBK.DE +1.5% (renewed takeover speculation)]
- Consumer Staples [EMMI EMMN.CH -5% (H1 profits below ests); Delhaize DELB.BE +1.5%(broker commentary)]
- Energy [Bourbon GBB.FR -2.5% (H1 profits declined y/y); Seadrill SDRL.NO +3% (Q2 results above ests, raised dividend), Statoil STL.NO +2.5% (broker commentary, higher oil prices)]
- Consumer Discretionary [Accor AC.FR -3% (cut FY forecast); 888 Holdings 888.UK +2.5% (H1 Results)]
- Basic Materials [Polymetal POLY.UK -6.5% (H1 profits declined y/y), Kenmare Resources KMR.UK (H1 profits declined y/y), Akzo Nobel AKZA.NL -1.5% (broker commentary), Salzgitter SZG.DE (to be removed from the EuroStoxx600)]
- Airlines [Airliners are broadly lower, amid the rise in oil prices to multi-year highs (Lufthansa LHA.DE -2.8%, Air France AF.FR -2.3%, IAG IAG.UK -2.3%)]
- Stoxx50 indices [Energy +2.1%, Utilities +1.8%, Financials +0.5%, Telecom +0.2%, Technology flat; Consumer Cyclical -0.7%, Consumer Non-cyclical -0.20%, Basic Materials -0.50%]

Speakers:
- UK PM Cameron: UK drafting a UN resolution condemning Syria attack

- UK govt spokesperson: UK PM Cameron and US President Obama say that a chemical arms attack took place in Syria and that the rebels did not have the means for a chemical attack. No decision had been made regarding Syria but when it did it would be a legal one and the response would be specific to the chemical attack
- Iran Supreme leader Khamenei: US intervention in Syria would be a disaster for the region
- UN Secretary General Ban Ki-Moon: UN inspection team in Syria needs time to complete its job
- EU's Rehn: Italy needs political stability to boost recovery ; He added that a proposal possibly in the fall on closing the Greek gap but premature to put figure on the financing deficit
- DIW Institute: German Q3 GDP seen at 0.4% (**Note: Q2 came in at +0.7% q/q)
- BoJ's Iwata: To continue easing until stable inflation is achieved; easing needs some time to penetrate into real economy which could take up to 1 year
- Indonesia Central Bank (BI) Gov Martowardojo: Sees slowdown continuing in H2 of year

Currencies/Fixed Income:
- The Mid-East jitters continued to be the main catalyst for FX price action and helped to keep the USD.JPY and CHF with firm undertones. Emerging markets continue to struggle from capital outflows as the Indian Rupee continued to hit fresh record lows as it approached the 69 handle. WTI hit 4-year highs in late Asian trade at $112.24/contract. Oil retraced over $2/barrel from overnight highs on concerns that the SPR could be tapped to offset the climb in oil prices.

Political/In the Papers:
- (EU) ECB's Asmussen: Seeing a very slow recovery in the EMU, Q2 economic data has confirmed assessment there is a good economic situation; PMI readings are providing optimism
-(EU) ECB's Liikanen: Europe no longer at center of crisis - financial press
- (DE) German Chancellor Merkel: "Greece shouldn't have been allowed into the euro"; "Chancellor Schroeder accepted Greece in and weakened the Stability Pact" - Telegraph citing her at a rally in Rendsburg
-(GR) Greece expected to ask troika for more time on the second round of civil servant reforms - Greek press
- (IT) Italy PD party's Epifani indicates the party will not accept the ultimatum on property tax, will meet with PM Letta later today - Italy press
- (CN) China Fin Min Lou Jiwei: China to expand consumption tax on some luxury goods and products with excessive consumption of resources or pollution - Xinhua
- (JP) Japan PM Abe will not reshuffle cabinet in the autumn - Japanese press
- (JP) Requests for Japan's FY14/15 budget said to exceed 100T for the 2nd consecutive year - Nikkei News

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (BR) Brazil Central Bank (COPOM) Interest Rate Decision: Expected to raise the Selic Rate by 50bps to 9.00%
- (FI) Finland Government 2014 Budget Negotiations
- (DE) German SPD chief and candidate Steinbrck campaign event in Bremen
- 06:00 (UK) Aug CBI Industrial Reported Sales: 20e v 17 prior
- 06:30 (US) Daily Libor Fixing
- 07:00 (US) MBA Mortgage Applications w/e ending Aug 23rd: No est v -4.6% prior
- 08:30 (CL) Chile Central Bank's Traders Survey
- 08:30 (CA) Canada Jun Average Weekly Earnings Y/Y: No est v 2.5% prior
- 08:30 (UN) UN Sec Gen Ban Ki Moon
- 08:45 (UK) BOE Gov Carney speaks in Nottingham, England (first oublic speech since becoming BOE chief in July)
- 10:00 (US) July Pending Home Sales M/M: 0.0%e v -0.4% prior; Y/Y: 7.9%e v 9.1% prior
- 10:00 (DE) Germany Fin Min Schaeuble speaks at CDU Election Event, Wilhelmshaven
- 10:30 (US) Weekly DOE Crude Oil Inventories
- 11:00 (DE) German Chancellor Merkel holds Campaign Rally in Ulm
- 11:00 (US) Fed to purchase $2.75-3.50B in Notes
- 11:30 (BR) Brazil Central Bank weekly currency flows
- 12:00 (CA) Canada to sell 5 Year Notes
- 12:30 (DE) Germany Fin Min Schaeuble speaks at CDU Election Event, Bremen
- 13:00 (US) Treasury to sell 5-Year Notes
- 18:00 (DE) German Chancellor Merkel holds Campaign Rally in Minden

 

 

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