User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 24, 2013 - 10:38:23 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: EUR/USD continues to trade near 1.35, amid mixed German IFO data and Fed uncertainty

TradeTheNews.com EU Market Update: EUR/USD continues to trade near 1.35, amid mixed German IFO data and Fed uncertainty
Tue, 24 Sep 2013 5:26 AM EST

***Notes/Observations***
-Mixed German IFO data
-Emerging market weakness continues amid Fed uncertainty
-Overall, markets continue to trade cautiously

***Economic Data***
- (DE) GERMANY SEPT IFO BUSINESS CLIMATE: 107.7 V 108.0E; CURRENT ASSESSMENT: 111.4 V 112.5E
- (FI) FINLAND AUG PPI M/M: 0.3% V -0.1% PRIOR; Y/Y: -0.9% V 0.0% PRIOR
- (IT) ITALY AUG NON-EU TRADE BALANCE: 559M V -903M PRIOR
- (UK) AUG BBA LOANS FOR HOUSE PURCHASE: 38.2K V 39.0KE (highest since Dec 2009)

Fixed Income:
-(ID) Indonesia sells IDR12T in 2-Year, 5-year, 10-year, 15-year and 30-year bonds
-(NL) Netherlands Debt Agency (DSTA) sells 2.35B v 2.0-3.0B indicated in 2016 bonds; Avg Yield: 0.435% v 0.495% prior
-(ES) Spain Debt Agency (Tesoro) sells total 3.58B v 2.5-3.5B indicated range in 3-month and 9-month bills
- Sells 2.81B in 3-month Bills; Avg Yield: 0.291% v 0.155% prior; Bid-to-cover: 3.85x v 4.1x prior; Max Yield: 0.318% v 0.199%; Tail: 2.7bps v 3.7bps prior
- Sells 768M in 9-month Bills; Avg Yield: 0.980% v 1.089% prior; Bid-to-cover: 2.64x v 1.95x prior; Max Yield: 1.004% v 1.120%; Tail: 2.4bps v 3.1bps prior

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
Indices [Stoxx50 +0.40%, FTSE 100 flat at 6,560, DAX +0.10% at 8,645, CAC-40 +0.40% at 4,187, IBEX-35 -0.10% at 9,103, FTSE MIB +0.30% at 17,962, S&P 500 Futures flat at 1,692]

Market Focal Points: M&A in the European telecom sector continues, Weaker commodity prices continue to weigh on miners

By Sector
Telecom [Telecom Italia TIT.IT +1.5% (agreement with Telefonica)]
Energy [Total FP.FR +1.5% (broker commentary)]
Financials [Close Brothers CBG.UK +1.5% (FY profits rose y/y); Deutsche Wohnen DWNI.DE -2% (share placement)]
Consumer Discretionary [Euromoney ERM. +4% (issued guidance); Cupid -7% (gross margins declined y/y), Premier Foods PFD.UK -7% (named new CFO)]
Consumer Staples [Suedzucker SZU.DE -5% (H1 profits declined y/y)]
Stoxx50 sectors [Utilities +1%, Consumer Cyclical +0.8%, Technology +0.7%, Consumer Non-Cyclical +0.40%, Energy +0.20%, Telecom +0.10%; Industrials flat, Financials -0.10%, Basic Materials -0.10%]

Speakers:
-ECB's Nowotny: Reiterates that it is not yet in situation to think about exit from measures and that monetary policy reversal to come when economy is back on track as Too early exit may create emerging market liquidity risk. He also said Low bank demand for LTRO may reflect less ECB reliance and that ECB guidance is not a deviation from existing policy.
-IFO Economists: Manufacturers expect better exports, but they should not overestimate the small drop in IFO business conditions. Overall, the outlook is very positive, the new German govt can count on an economic tailwind.
-Ireland Fin Min Noonan: There is a little flexibility around 3.1B adjustment in next month's budget.
-Turkey Central Bank Gov Basci: Turkey plans to issue medium term outlook soon. The depreciation of TRY (Lira) should be treated as a normal development, and should not worry the private sector. The Lira is over depreciation level, may fall to 1.80 next year is capital inflows increase.
-Unnamed EU Leader: Greece is already getting major further official aid and thus will never have another haircut. Privatizations are a significant disappointment.
-Venezuela Oil Min Ramirez: Venezuela producing 3M bpd.
-Iraq's Deputy PM Shahristani: Iraq producing 3.3M bpd not including Kurdish areas
-South Korea Financial Services Commission (FSC) Chairman Shin: to ease rules to bolster asset management business
-Sweden Riksbank Jansson: Reiterates conditions for a rate hike will not be in place in H1 2014. He said the rate path can tolerate some upward revision of economic outlook and that rising housing prices and a pick -up in borrowing is worrying and that further measures on household debt are necessary.
-EU Parliament's Liese: Parliament unlikely to back weakened ICAO carbon deal

Political/In the Papers:
(KR) S&P affirms South Korea sovereign rating at A+; Outlook Stable
(KR) China stops some exports in North Korea to meet sanctions
(ES) Spain Aug foreign tourists: 8.3M, +7.1% y/y (record)
(DE) Bundesbank's Lautenschlaeger: Sustained low interest rates over a long period can weaken bank earnings, is a worrying prospect
(DE) CDU's Kauder: SPD should not delay coalition talks
(DE) German CSU's Seehofer rejects a possible coalition with Green Party. CSU wants a agreement with sister party CDU on highway toll before negotiations begin.
(DE) Lower Saxony PM Weil (SPD): SPD may be open to future coalition with the Left party, Left party not fit to rule at the federal level at this time.
(DE) German Bundestag Pres Lammert: First sitting of the lower house seen on Oct 22nd
(GR) Troika is pressuring Greece privatization fund (TAIPED) to speed up asset sales - press
(GR) Troika is doubtful of Greece projections for a primary surplus in 2013 and 2014. Troika sees a very small primary deficit in 2013 and is very skeptical of the planned 1.5% surplus in 2014. Greece Fin Ministry will not be able to pay off 8B in arrears this year
(EU) S&P Kraemer: There is much public and private deleveraging still ahead in Europe

***Forex***
USD/JPY and EUR/JPY gained later in the Asian session to 99.07 and 133.90 though failed to break into new levels with little follow through on the move. Movement was mostly tempered by EU and US central bank comments and the lack of clarity on US Fed policy with a new unknown chief to be named. EUR/USD gained heading into IFO but fell over 50 pips after the actual German September IFO figure came out, testing to 1.3492, it later tested and had a small break through that bottom again nearly an hour later.

**Looking Ahead***
- 06:30 (US) Daily Libor Fixing
- 07:00 (EU) ECB allotment in 7-day Deposit Tender to sterilize prior bonds purchases under SMP program
- 08:00 (HU) Hungary Central Bank (NBH) Interest Rate Decision: Expected to cut the Base Rate by 10bps to 3.70%
- 08:30 (CA) Canada July Retail Sales M/M: No est v -0.6% prior; Retail Sales Ex Auto M/M: No est v 0.8% prior
-08:45EDT/12:45GMT UK MPC Member Tucker Speaks
- 08:55 (US) Weekly Redbook Retail Sales
- 09:00 (BE) Belgium Sept Business Confidence: No est v -8.6 prior
- 09:00 (US) July S&P/ CaseShiller 20 City M/M: No est v 0.89% prior; Y/Y: No est v 12.07% prior; Home Price Index: No est v 159.54 prior
- 09:00 (US) July House Price Index M/M: No est v 0.7% prior
- 09:00 (EU) Weekly ECB Forex Reserves:
- 09:30 (US) Fed's Pianalto speaks on Payment Systems in Chicago
- 09:30 (BR) Brazil Aug Current Account Balance: No est v -$9.0B prior; Foreign Direct Investment (FDI): No est v $5.2B prior
- 10:00 (US) Sept Richmond Fed Manufacturing: No est v 14.0 prior
- 10:00 (US) Sept Consumer Confidence Index: No est v 81.5 prior
- 13:00 (US) Treasury to sell 42-Year Notes
-13:00EDT/17:00GMT UK MPC Member Bean Speaks
- 16:30 (US) Weekly API U.S. Crude Oil Inventories

 

 

 

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