User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday August 30, 2013 - 10:20:01 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: Plethora of economic data fails to inspire position taking into month-end and ahead of US holiday

 TradeTheNews.com EU Market Update: Plethora of economic data fails to inspire position taking into month-end and ahead of US holiday
Fri, 30 Aug 2013 5:45 AM EST

***Notes/Observations***
- House of Commons defeats PM Cameron's motion for military action on Syria; Oil prices decline in electronic trade
-IEA: Oil situation does not call for its response; Oil mkt adequately supplied; Watching supply & ready to act
- Japan economic data continue to reflect the impact of Abenomics
- Japan July Jobless Rate: 3.8% v 3.9%e; back to pre-financial crisis level
- Japan July National CPI Y/Y: 0.7%e v 0.2% prior (2nd consecutive increase)
- Japan July Preliminary Industrial Production M/M registers highest rate since June of 2011 (+3.2% v +3.6%e)
- Portugal constitutional court rejects a measure to make civil servant layoffs easier
- Italy July Unemployment Rate improves for the second straight month (12.0% vs. 12.2%e)
- UK July Mortgage Approvals registers largest rise in 5 year (60.6K vs. 58.8Ke)
- EMU Aug confidence data continues to improve

***Economic Data***
- (JP) Japan July Vehicle Production Y/Y: -1.5% v -9.5% prior
- (JP) Japan July Annualized Housing Starts: 975K v 994Ke; Housing Starts Y/Y: 12.0% v 14.3%e; Construction Orders Y/Y: 13.7% v v 21.9% prior
- (RU) Russia Narrow Money Supply w/e Aug 26th (RUB): 7.91T v 7.93T prior
- (UK) Retailer John Lewis reports weekly LFL sales for week ending Aug th (y/y): +6.6 v +7.6% prior
- (UK) Aug Nationwide House Price Index M/M: 0.6% v 0.6%e; Y/Y: 3.5% v 3.3%e
- (DE) Germany July Retail Sales M/M: -1.4% v +0.6%e; Y./Y: 2.3% v 1.8%e

- (ZA) South Africa July M3 Money Supply Y/Y: 7.4% v 8.5%e; Private Sector Credit Y/Y: 7.4% v 8.7%e
- (FI) Finland Jun Final Trade Balance: 177M v 260M prelim
- (FI) Finland July House Price Index M/M: -1.7% v -0.6% prior; Y/Y: 0.2% v 0.7% prior
- (ES) Spain July Retail Sales WDA Y/Y: -3.8% v -5.0% prior (33rd straight month of negative readings); Retail Sales Y/Y: -2.0% v -6.9% prior
- (CH) Swiss Aug KOF Leading Indicator: 1.36 v 1.32e
- (HU) Hungary July PPI M/M: 0.2% v 0.3% prior; Y/Y: 1.3% v 1.7%e
- (DK) Denmark Q2 Preliminary GDP Q/Q: 0.5% v 0.2%e; Y/Y: 0.4% v 0.4%e
- (EU) ECB 106M borrowed in overnight loan facility vs. 1.0B prior; 66.4B parked in deposit facility vs. 63.8B prior - Daily Eurosystem Liquidity Conditions
- (AT) Austria July PPI M/M: +0.1% v -0.2% prior; Y/Y: -0.8% v -1.0% prior
- (SE) Sweden Jun Wages Non-Manual Workers Y/Y: 1.6% v 1.3% prior
- (TH) Thailand July Current Account: -$709M v -$475Me; Trade Account Balance: $300M v $588M prior; Overall Trade Balance: -$ v -$3.1B prior; Exports Y/Y: -1.3% v -3.5% prior; Imports Y/Y: -0.2% v 0.9% prior
- (TH) Thailand July Business Sentiment Index: 48.3 v 49.9 prior
- (CN) Shanghai Futures Exchange (SHFE) Weekly Copper Stockpiles: 156.6K v 156.1K tons prior
- (PL) Poland Q2 Final GDP Q/Q: 0.4% v 0.4% prelim; Y/Y: 0.8% v 0.8% prelim
- (IT) Italy July Preliminary Unemployment Rate: 12.0% v 12.2%e

- (IT) Italy Q2 Unemployment Rate: 12.1% v 12.1%e
- (CZ) Czech July M2 Money Supply Y/Y: 5.1% v 4.3% prior
- (NO) Norway Aug Unemployment Rate: 2.8% v 2.7%e
- (NO) Norway Jun AKU Unemployment Rate: 3.3% v 3.4%e
- (NO) Norway July Retail Sales W/Auto Fuel M/M: -1.3% v +0.2%e
- (ES) Spain Jun Current Account Balance: 2.6B v 2.4B prior
- (UK) July Net Consumer Credit: 0.6B v 0.6Be; Net Lending: 0.7B v 1.1Be
- (UK) July Mortgage Approvals: 60.6K v 58.8Ke; higher since Mar 2008

- (UK) July M4 Money Supply M/M: % v 0.1% prior; Y/Y: % v 1.5% prior (highest since Aug 2010); M4 Ex IOFCs 3M Annualized: % v 4.5%e
- (HK) Hong Kong July Budget Balance (HKD): -16.0B v -16.7B prior
- (EU) Euro Zone Aug Business Climate Indicator: -0.21 v -0.36e v -0.53 prior; Consumer Confidence: -15.6 v -15.6e; Economic Confidence: 95.2 v 93.8e; Industrial Confidence: -7.9 v -9.6e; Services Confidence: -5.3 v -6.8e
- (EU) Euro Zone July Unemployment Rate: 12.1v 12.1%e
- (EU) Euro Zone Aug Advance CPI Estimate Y/Y: 1.3% v 1.4%e; CPI Core Y/Y: 1.1% v 1.1%e

- (GR) Greece Jun Retail Sales Y/Y Volume Y/Y: -7.8% v -2.2% prior; Retail Sales Value Y/Y: % v -3.4%e
- (BE) Belgium July Unemployment Rate: 8.9% v 8.7% prior
- (HK) Hong Kong July M3 Money Supply Y/Y: 9.0% v 9.7% prior

Fixed income:
- (IN) India sold an undetermined amount vs. INR170B indicated in 2019, 2023, 2032 and 2041 bonds

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

**Equities***
Indices [Stoxx50 -0.60%,
FTSE 100 -0.40% at 6,455, DAX -0.50% at 8,150, CAC-40 -0.40% at 3,969, IBEX-35 -0.40% at 8,392, FTSE MIB -0.40% at 16,846, SMI flat at 7,763, S&P 500 Futures +0.20% at 1,640]

Market Focal Points: Portuguese equities and bonds underperform on court ruling, Greek equities outperform on banking sector profits, French retailers report better than expected earnings (L'Oreal, Hermes), KPN takeover offer in jeopardy, Lower oil prices hurt energy producers, End of the month and pre US holiday trading conditions, Upcoming US data (July personal income, Aug Chicago PMI)

By Sector
- Telecom
[KPN KPN.NL -5.2% (concerns related to America Movil's bid); Telecom Italia TIT.IT +5% (broker commentary)]
- Consumer Discretionary [BWIN.Party BPTY.UK -12% (H1 sales below ests), D'ieteren DIE.BE -5.5% (H1 profit declined y/y); L'Oreal OR.FR +4% (record H1 op margin), Hermes RMS.FR +2.5% (H1 profits above ests), Gildemeister GIL.DE +1.5% (broker commentary)]
- Consumer Staples [Danone BN.FR -1.5% (cautious outlook commentary)
- Financials [Delta Lloyd DL.NL -3% (named new Chairman); National Bank of Greece ETE.GR +6% (Reported H1 profit), Deutsche DBK.DE Bank +1.5% (broker commentary), Leg Immobilien LEG.DE +1.5% (H1 profits rose y/y)]
- Basic Materials [Recticel REC.BE -4% (H1 profits declined y/y); Arkema AKE.FR +2.5% (broker commentary), SGL Carbon SGL.DE +2% (broker commentary)]
- Technology [Option OPTI.BE -12% (swung to H1 net loss)]
- Healthcare [Thrombogenics THR.BE -19% (H1 net profit declined)]
- Utilities [Gas Natural GAS.ES -1.5% (broker commentary)
- Stoxx50 Sectors (Energy -1.3%, Utilities -0.80%, Telecom -0.50%, Financials -0.40%, Consumer Cyclical -0.40%, Basic Materials -0.30%, Consumer Non-Cyclical -0.10%, Industrials -0.10%)

Speakers:
- ECB's Nowotny
(Austria) commented that it was too early to say what the effect of the Emerging Market selloff had on the Eurozone economy. Rate hike was excluded for the foreseeable futurebut stressed linking forward guidance to employment was not viable for the ECB
- France President Hollande stated that his country could take part in any action on Syria without the UK and he supported firm action as the chemical attack caused irreparable harm to the citizens of Syria and must not go unpunished. All options were on the table but would not take decision without the UN conditions to justify it
- Russia Central Bank (CBR) again adjusted the floating Ruble corridor upward by 5 kopecks to 32.15-39.15 (5th adjustment in Aug)
- India PM Singh stated that global factors and Fed tapering concerns had caused general weakness in INR currency (rupee). He reiterated that the govt would take steps to bring down current account deficit to below $70B and achieve FY target of 4.8% c/a deficit ratio to GDP with the medium term target seen at 2.5% of GDP

Currencies/Fixed Income:
- Month end trading and upcoming US Labor Day holiday had participation in FX at a bare minimum.
The session saw a plethora of economic releases but little momentum to break established ranges in the major pairs. Risk appetite was unable to gather any force despite the non-binding rejection of the UK parliament of military action in Syria. US might now be considering a smaller unilateral military strike in Syria
- The emerging market currencies maintained a steady tone. The USD/INR was at 66.25 as India PM Singh addressed Parliament to address its current account deficit, the root of the recent rupee record weakness.
- The G20 Leader Summit will be taking place next week. The topic of Fed tapering and its potential impact on emerging markets likely to be brought up

Political/In the Papers:
- (EU) ECB's Weidmann (Germany): monetary policy to stay loose for the foreseeable future; Exit would be more difficult if easy policy is kept too long; Banks increasing capital is of decisive importance.
- (EU) EU Commission is considering applying bank capital rules to the so-called 'Shadow Banking' institutions - press
- (PT) Portugal's constitutional court ruled that laws related to firing public sector workers who cannot be retrained are not legal - FT
- (SY) UK House of Commons rejects PM Cameron's motion on Syria military action - financial press; Voting results 285-272
- (UK) BoE Gov Carney: Reiterates could increase stimulus if required - British press ; There has to be exceptional degree of stimulus; Monitoring the housing market.
- (JP) Japan Fin Min Aso: Failure to raise sales tax could lead to a decline in share prices and JGBs

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (ES) Spain July YTD Budget Balance: No est v -40.0B prior
- (CO) Colombia Central Bank Interest Rate Decision: Expected to leave Overnight Lending Rate unchanged 3.25%
- 06:00 (IT) Italy July PPI M/M: 0.1%e v 0.4% prior; Y/Y: -0.9%e v -0.7% prior
- 06:00 (PT) Portugal July Industrial Production M/M: No est v -2.7% prior; Y/Y: No est v 2.1% prior
- 06:00 (PT) Portugal July Retail Sales M/M: No est v 1.1% prior; Y/Y: No est v -2.6% prior
- 06:00 (EU) ECB announces 3-Year LTRO Repayment
- 06:10 (UK) DMO to sell combined 2.0B in 1-month, 3-month and 6-month Bills
- 06:30 (US) Daily Libor Fixing
- 07:00 (IE) Ireland Aug Consumer Confidence: No est v 68.2 prior
- 07:30 (IN) India Forex Reserves w/e Aug 23rd: No est v $278.8B prior
- 08:00 (PL) Poland Central Bank (NBP) Aug Inflation Expectations: 0.3%e v 0.4% prior
- 08:00 (IN) India Q2 GDP Y/Y: 4.7%e v 4.8% prior

- 08:00 (ZA) South Africa July Budget Balance (ZAR): No est v 20.1B prior
- 08:00 (ZA) South Africa July Trade Balance (ZAR): -9.0Be v -7.7B prior
- 08:00 (BR) Brazil Q2 GDP Q/Q: 0.9%e v 0.6% prior; Y/Y: 2.5%e v 1.9% prior; GDP 4Qtrs Accumulated: No est v 1.2% prior
- 08:30 (US) July Personal Income: 0.2%e v 0.3% prior; Personal Spending: 0.3%e v 0.5% prior
- 08:30 (US) July PCE Deflator M/M: 0.2%e v 0.4% prior; Y/Y: 1.4%e v 1.3% prior
- 08:30 (US) July PCE Core M/M: 0.2%e v 0.2% prior; Y/Y: 1.3%e v 1.2% prior
- 08:30 (CA) Canada Q2 Quarterly GDP Annualized: 1.6%e v 2.5% prior
- 08:30 (CA) Canada Jun GDP M/M: -0.4%e v +0.2% prior; Y/Y: No est v 1.6% prior
- 09:00 (US) Fed's Bullard to speak on US. Economy in Memphis
- 09:00 (CL) Chile July Unemployment Rate: 6.3%e v 6.2% prior
- 09:00 (US) Aug ISM Milwaukee: 53.00e v 52.43 prior
- 09:30 (BR) Brazil July Nominal Budget Balance (BRL): No est v -12.2B prior; Primary Budget Balance: 5.0Be v 5.4B prior; Net Debt to GDP ratio: 34.1%e v 34.5% prior
- 09:45 (US) Aug Chicago Purchasing Manager: 53.0e v 52.3 prior
- 09:55 (US) Aug Final University of Michigan Confidence: 80.5e v 80.0 prelim

- 10:00 (MX) Mexico July Net Outstanding Loans (MXN): No est v 2.370T prior
- 10:00 (DE) Germany Fin Min Schaeuble speaks at CDU Election Event, Erlangen
- 11:00 (DE) German Chancellor Merkel holds Campaign Rally in Olpe
- 11:00 (US) Fed to purchase $2.75-3.50B in Notes
- 12:00 (CO) Colombia July National Unemployment Rate: No est v 9.2% prior; Urban Unemployment Rate: 11.0%e v 11.2% prior
- 13:00 (DE) German Chancellor Merkel holds Campaign Rally in Frankfurt
- 15:00 (AR) Argentina July Construction Activity M/M: No est v 0.5% prior; Y/Y: No est v 2.1%prior
- 15:30 (MX) Mexico July YTD Budget Balance (MXN): No est v -75.6B prior
- 21:00 (CN) China Aug Manufacturing PMI: No est v 50.3 prior

Weekend
- (DE) Germany Fin Min Schaeuble speaks at CDU Election Event, Appenweier
- 11:00 (IT) Bank of Italy's Visco speaks at Conference on Federalism in EU
- 14:15 (DE) German Chancellor Merkel and challenger Steinbrueck hold Election TV Debate on ZDF

 

 

 

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.

Register To Test Your Amazing Trader

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

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales


John M. Bland, MBA
co-founding Partner, Global-View.com


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.


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.

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