User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday September 18, 2013 - 10:21:27 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: GBP/USD hits 8-month high, as BoE minutes show slightly more upbeat outlook

TradeTheNews.com EU Market Update: GBP/USD hits 8-month high, as BoE minutes show slightly more upbeat outlook
Wed, 18 Sep 2013 5:51 AM EST

***Notes/Observations***
-Spanish bad loans for July continued to hit fresh record highs
-Gilt yields, Sterling rise as BoE minutes more upbeat on growth, no mention of whether market rate expectations were justified
-Equity, Bond trading quiet ahead of Fed decision
-Italy 10-yr yield moves below Spain's, as markets await ruling on Berlusconi's future
-China Aug new home prices rise at the fastest pace in over 3-years
-Nikkei225 outperforms (+1.4%), amid press speculation that the Finance Ministry's opposition to the corporate tax cut may be softening

***Economic Data***
- (UK) BOE VOTED 9-0 TO LEAVE INTEREST RATES UNCHANGED AT 0.50%
- (UK) BOE VOTED 9-0 TO MAINTAIN ASSET PURCHASE TARGET (APT) AT 375B

- (CN) China PBoC Q3 Survey: China bankers confidence index 61% v 64.1% prior; Bankers are seeing improved sentiment over economy in Q4
- (CH) SWISS SEPT CREDIT SUISSE ZEW EXPECTATIONS SURVEY: 16.3 V 7.2 PRIOR
- (GR) GREECE JULY CURRENT ACCOUNT BALANCE: 2.73B V 663M PRIOR

Fixed Income:
(PT) PORTUGAL DEBT AGENCY (IGCP) SELLS 1.25B V 1.00-1.25B INDICATED IN 3-MONTH AND 18-MONTH BILLS; Sells 500M in 3-month Bills; Avg Yield: 1.081% v 0.766% prior; Bid-to-cover:1.8x v 3.4x prior; Sells 750M in 18-month Bills; Avg Yield 2.293% v 1.603% prior; Bid-to-cover: 2.0x v 2.1x prior
(SE) Sweden sells SEK3.5B in 2019 bonds; Yield 2.027% v 1.2850% prior
(DE) Germany sells 4.22B in 0.25% 2015 Schatz; Avg Yield: 0.22% v 0.23% prior; bid-to-cover 1.6x v 1.8x prior

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
Indices [EuroStoxx50 +0.3%, FTSE 100 +0.1% at 6,575, DAX +0.3% at 8,621, CAC-40 +0.3% at 4,157, IBEX-35 +0.7% at 9,053, FTSE MIB +0.40% at 17,817, SMI +0.20% at 8,032, S&P 500 Futures +0.10% at 1,700]

Market Focal Points: DAX index hits fresh record highs ahead of Fed, Inditex H1 earnings drive gains in retail stocks, Barclays underperforms in the banking sector

By Sector
Industrials [Zodaic ZC.FR +4.5% (FY sales rose y/y), HeidelbergCement HEI.DE +2% (broker commentary); OCI OCI.NL -6.5% (capital raise) Alstom -1.5% (cautious outlook commentary)]
Consumer Discretionary [Redrow RDW.UK +2% (FY profits rose y/y), Inditex ITX.ES +0.50% (H1 profits above ests)]
Financials [Barclays BARC.UK -6% (rights begin trading today)]
Basic Materials/Resources [Lanxess LXS.DE -2% (announced job cuts, cautious outlook commentary)]
Technology [RM PLC RM.UK +18% (raised forecast)]
Stoxx50 moves [Basic Materials +1.1%, Industrials +0.7%, Technology +0.7%, Consumer Cyclical +0.4%, Consumer Non-Cyclical +0.4%, Financials +0.2%, Utilities flat, Telecom flat,; Energy -0.5%]

Speakers:
ECB's Coeure: Sound financial system is important for financial stability, must lower fragmentation in the system. In the coming weeks, Eurosystem will finalize new framework for assessing securities settlement systems to decide eligibility for Eurosystem credit operations.
Cyprus Fin Min Georgiandes: Will do whatever we can to attract new companies; will not implement new taxes
Spain bank rescue fund (FROB) chief Carrascosa: Spain burden sharing cut recap cost by 13B; FROB to begin sale of NCG Banco in Oct
France President Hollande admits that French taxes are "too much"
Libya Central bank gov: Sees oil output at 500-600K bpd today
Hungary Econ Min Gabor: 2013 GDP growth may meet 0.7% govt forecast
Sweden Central Bank (Riksbank) Minutes: There are increasing signs of improved economic activity, Signs of economic improvement abroad is uneven, Households remain highly indebted which means vulnerability to shocks
Bank of England (BoE) Minutes: No members judged more stimulus appropriate at present; no comment on if market rate expectations are justified. BoE staff now sees Q3 growth at 0.7% vs 0.5% seen in Aug. Sterling rise likely to dampen inflation over the medium term, but oil price increases if sustained could boost inflation in the short-term
Bank of England (BoE) Agents Survey: UK firms broadly positive about BoE forward guidance
Turkey Deputy PM Babacan: Will release a new mid-term program in Oct. Sees downside risk to 4% 2013 GDP forecast
China PBoC Q3 Survey: China bankers confidence index 61% v 64.1% prior; Bankers are seeing improved sentiment over economy in Q4
ECB's Money Market Contact Group Minutes: Draghi tells group ECB intends to move to simpler collateral framework when fragmentation is significantly reduced

***Forex***
- Swedish Krona strengthened 0.2% to 8.62 against the Euro after Riskbank meeting minutes. GBP/USD gained 10 pips and remained around session highs of 1.5948 after the BoE voted 9-0 to maintain asset purchase target and leave interest rates unchanged. All members felt no additional stimulus was needed. The sterling pushed to a fresh session high of 1.5971 on the news. The Euro and Swissie stayed mostly unchanged, though the franc saw a small gain to 0.9250 on ZEW survey for Sept. The USD/JPY remained under some pressure just about 10 pips off its low at 98.87 ahead of the Fed rate decision.

Political/In the Papers:
(DE) German Chancellor Merkel is planning to reform renewables act after the election. She will press the EU for climate reduction target for 2030.
(SY) Russia govt reports Syria govt has handed over evidence of chemical attacks that implicates Syrian rebels.
(DE) German FDP party would like to see the ESM expire as soon as a working stability union is established.
(BE) Belgium studying sale of its stake in BNP
(EU) EU Parliament environmental panel rejects CO2 market report
(GR) German Fin Min Schaeuble: There will not be a second haircut for Greece debt
(EU) European repo market grew by about 9% in H1

**Looking Ahead***
- 06:00 (PT) Portugal Aug PPI M/M: no est v 0.5% prior; Y/Y: No est v 1.3% prior
- 06:00 (EU) EU Commission to propose Draft Legislation on Benchmark Rates
- 06:30 (US) Daily Libor Fixing
- 07:00 (US) MBA Mortgage Applications w/e Sept 13th: No est v -13.5% prior
- 07:00 (BR) Brazil Sept Final IGP-M Inflation: No est v 0.1% prelim
- 07:00 (ZA) South Africa July Constant Retail Sales M/M: 0.6%e v 0.0% prior; Y/Y: 3.7%e v 1.9% prior
- 07:00 (RU) Russia to sell OFZ Bonds
- 08:00 (PL) Poland Aug Sold Industrial Output M/M: -3.8%e v +1.5% prior; Y/Y: 2.8%ev 6.3% prior
- 08:00 (PL) Poland Aug PPI M/M: 0.1%e v 0.2% prior; Y/Y: -0.7%e v -0.8% prior
- 08:30 (US) Aug Housing Starts: 923Ke v 896K prior; Building Permits: 950Ke v 954K prior (revised from 943K)
- 08:30 (DE) Germany Fin Min Schaeuble speaks at at CDU Election Event, Buchen
- 09:00 (DE) German SPD chief and candidate Steinbruck campaign event in Oldenburg
- 09:50 (UK) Dep PM Clegg speaks at U.K. Liberal Democrat Conference in Glasgow
- 10:00 (MX) Mexico weekly International Reserves
- 10:30 (US) DOE weekly oil inventories
- 10:40 (CA) Bank of Canada Gov Poloz speaks at Board of Trade
- 11:00 (DE) German Chancellor Merkel holds campaign rally in Schwerin
- 11:30 (BR) Brazil Central Bank weekly currency flow data
- 11:30 (DE) Germany Fin Min Schaeuble speaks at at CDU Election Event, Bruchsal
- 12:00 (CA) Canada to sell 2 Year Notes
- 13:00 (DE) German Chancellor Merkel holds campaign rally in Hamburg
- 13:00 (DE) German SPD chief and candidate Steinbruck campaign event in Hamburg
- 14:00 (US) FOMC Interest Rate Decision: expected to leave Interest Rates unchanged at 0.25%
- 14:00 (US) Fed releases Summary of Economic Projections
- 14:30 (US) Fed Chairman Bernanke holds post rate decision press conference in Washington

 

 

 

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