User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday November 5, 2013 - 10:49:32 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: UK Services PMI hits 15-year high; EU Commission sees confidence returning to the region but risks remain

TradeTheNews.com EU Market Update: UK Services PMI hits 15-year high; EU Commission sees confidence returning to the region but risks remain
Tue, 05 Nov 2013 5:23 AM EST

***Notes/Observations***
- RBA leaves cash target rate unchanged at 2.50% (as expected) but sets a dovish tone noting AUD currency as 'uncomfortably high' with declines needed to balance growth
-China Oct HSBC PMI Services rises to 52.6 from 52.4 prior (21st straight month of growth)
- Hong Kong PMI Services hits its highest reading in 7 months (50.1 vs. 50.0 prior)
- India PMI Services improves to 47.1 but registers its 4th straight contraction
- China Premier Li Keqiang: Need 7.2% growth in order to create enough jobs but more stimulus would mean problems
- PBoC Q3 Monetary Report: Reiterates to continue prudent monetary policy; foundation for stable prices is not solid as upwards pressure on prices still exists.
- Spain Net Unemployment rises for the 2nd straight month
- Swiss Oct CPI comes in negative (-0.1% vs. +0.1%e)
- UK Oct PMI Services hits highest level since May 1997 (62.5 v 60.0e)
- EU Commission updates its growth outlook: Increasing signs that the economy had reached a turning point; downside risks continued to prevail


***Economic Data***
- (IN) India Oct HSBC/Markit Services PMI: 47.1 v 44.6 prior; 4th straight contraction

- (IE) Ireland Investec Services PMI: 60.1 v 56.8 prior; 15th straight month of expansion to a 6 1/2 year high
- (FI) Finland Aug GDP Indicator WD: -0.5% v -0.4% prior
- (SE) Sweden Oct PMI Services: 53.7 v 53.3 prior
- (CZ) Czech Sept) Retail Sales Y/Y: 3.7% v 4.0%e
- (ES) Spain Oct Net Unemployment M/M: +87.0K v +82.5Ke; second straight monthly increase
- (EU) ECB 120M borrowed in overnight loan facility vs. 24M prior; 55.5B parked in deposit facility vs. 52.1B prior - Daily Eurosystem Liquidity Conditions
- (CH) Swiss Oct CPI M/M: -0.1% v +0.1%e; Y/Y: -0.3% v -0.1%e
- (CH) Swiss Oct CPI EU Harmonized M/M: -0.1% v +0.1%e : Y/Y: 0.0% v 0.2%e
- (SE) Sweden Sept Service Production M/M: -0.4% v 0.1%e; Y/Y: 1.1% v 1.5%e
- (UK) Oct PMI Services: 62.5 v 60.0e; highest since May 1997
- (EU) Euro Zone Sept PPI M/M: 0.1% v 0.2%e; Y/Y: -0.9% v -0.8%e


Fixed Income:
- (AT) Austria Debt Agency (AFFA) sold total 1.65B vs. 1.65B indicated in 2018 and 2022 bonds

- (EU) ECB allotted 89.5B in 7-day Main Refi Tender at fixed 0.50% vs. 90Be

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
***Equities**
Indices [Stoxx 50 -0.40%
, FTSE 100 -0.70% at 6,718, DAX -0.50% at 8,991, CAC-40 -0.60% at 4,264, IBEX-35 -0.90% at 9,790, FTSE MIB -0.50% at 19,209, SMI -0.40% at 8,150, S&P 500 Futures -0.30% at 1,758]

Market Focal Points: Equity markets in Europe decline amid rise in core government bond yields and earnings releases, Big European earnings (BMW, Fresenius, HannoverRe, Sky Deutschland, Holcim, DSM, Imperial Tobacco, Marks & Spencer), BMW declines after Q3 earnings report, Banks trade broadly lower led by RBS and Credit Suisse, Utilities outperform, UK Services PMI strongest since 1997

- By Sector
- Telecom
[Sky Deutschland SKYD.DE +1.5% (Q3 results above ests)
- Industrials [BMW -3.5% (Q3 sales below ests), Siemens SIE.DE -1% (broker commentary); Symrise SY1.DE +5% (9-month sales and profits rose y/y), Aer Lingus AERL.UK +4% (reaffirmed outlook), DSM DSM.NL +2.5% (Q3 profits above ests)]
- Consumer Discretionary [Heidelberger Druck HDD.DE +9% (partnership agreement with FujiFilm), Beiersdorf BEI.DE +4.5% (raised outlook), Marks & Spencer MKS.UK +2.5% (H1 sales above ests); Associated British Foods ABF.UK -3% (broker commentary)]
- Technology [Blinkx BLNX.UK +9.5% (H1 Rev +36%)]
- Healthcare [Evotec EVT.DE +5% (collaboration agreement), Shire SHP.UK +1.5% (data presentation)]
- Utilities [Gas Natural GAS.ES +1.5% (Q3 profits above ests), German utilities rise amid speculation that Germany may support EU carbon proposal (RWE and EOAN +1%]
- Stoxx50 Sectors [Technology -1%, Consumer Cyclical -0.90%, Financials -0.6%, Telecom -0.60%, Basic Materials -0.20%, Consumer Non-Cyclical -0.2%, Industrial -0.10%, Energy flat; Utilities +1%]

Speakers:
- EU Commission issued its autumn economic forecasts
which maintained 2013 Euro Area growth at -0.4% and trimmed 2014 growth to 1.1% from 1.2%. It saw increasing signs that the economy had reached a turning point; downside risks continued to prevail. Risk to inflation outlook broadly balanced and maintained 2014 CPI forecast at 1.5%
- EU's Rehn: Rate of inflation was clearly below ECB target this year and added that risk of deflation was remote at this time. Large adjustments were still needed for both Spain and Italy
- France Fin Min Moscovic says French 2014 GDP growth forecast of +0.9% as credible
- Spain Econ Min de Guindos reiterates the view that saw EU agreement on SRM by end of year
- BOJ Gov Kuroda reiterated view that country was on path at achieve 2% inflation and he would not hesitate to take steps to achieve goal. Too early to debate exit strategy for BOJ but easy policy was having effects steadily as expected. He urged speedy implementation of growth strategy. The BOJ focus was on whether domestic demand was sustainable and if overseas economies would recover. Lastly he stressed it was vital for FX to move in stable manner
- China PBoC Q3 Monetary Policy Implementation Report reiterated its stance to continue prudent monetary policy. Foundation for stable prices was not solid and CPI y/y growth likely to increase in Q4, as upwards pressure on prices still existed. Reiterated to use various policy tools to guide reasonable growth in credit and social financing. Economy might see long term deleveraging prices. Property and local govt debt were outstanding problems.

Currencies/Fixed Income:
- Verbal intervention continued among European officials and corporate ahead of Thursday ECB's rate decision. Dealers noted that the recent 2-year highs of 1.3830 had entered political discussions and now looked for the central bank to lay the foundations for action in December and provide a statement leaving as many dovish policy options as possible open.
- The EUR/USD stayed below the 1.35 handle as dealers took note of comments from Italian Fin Min Saccomanni on Monday that strong Euro currency posed risk to the region's recovery. Dealers noted 'good size' buying of 1.3350 Euro 1-week puts going through in session ahead of Thursday's ECB meeting
- The GBP/USD surged above 1.6060 after the Oct PMI Services beat expectations and registered its highest reading since May 1997. EUR/GBP dipped to 5-week lows at 0.8465
- Dovish down under. The RBA left rates unchanged, but otherwise delivered a very dovish statement. AUD/USD remained below the 0.95 level

Political/In the Papers:
- (IT) Italy Fin Min Saccomanni: strong Euro currency poses risk to recovery; Not seeing any risk of deflation in the euro zone
- (IT) Italy Debt Agency (Tesoro) Chief Cannata: Market conditions are positive for BTPs, driving plenty of interest in the instrument, politics is what is driving the narrower BTP/Bund spread
- (UK) NIESR raises UK 2013 GDP forecast to 1.4% from 1.2% prior; said there is a 20% chance unemployment will reach 7% as soon as in the first quarter of next year vs the BoE's expectation of 2016
- (US) Fed's Rosengren (dove, FOMC voter): Monetary policy should be data dependent; US economy still challenged, unemployment remains high, and inflation still low
- (US) Fed's Bullard: Could still decide to taper in December; Sees potential for the ECB to require measures to fight their weak inflation
- (US) Fed's Powell (FOMC voter, dovish): Timing of taper is uncertain and depends on evolution of economy
- (US) Fed's Williams (dove, FOMC non-voter): Cannot keeping buying $85B in USTs and MBS forever; Economic data has weakened since the Fed came close to tapering QE buys in September.
-(US) Fed Q3 senior loan office survey: Survey results also indicated that banks, on average, did not substantially change standards or terms on lending to households.
- (US) Treasury Quarterly financing estimates: To borrow $266B in October to December quarter vs $285B estimate; Treasury borrowed $197B in July to September quarter vs $209B projection (vs $200B estimate).
- (US) US Treasury official Lael Brainard to step down Fri Nov 8th - financial press; The White House considers nominating Brainard for Fed Board

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- (GR) Greece Debt Agency (PDMA) to sell 1.0B indicated in 26-week bills
- (RO) Romania Central Bank Interest Rate Decision: Expected to cut Interest Rate by 25bps to 4.00%
- (MX) Mexico Banamex Survey of Economists
- (UK) South Korean President Park makes State Visit to UK
- (GR) Troika group going to Athens, Greece for a review of bailout program
- 05:30 (SE) Sweden Central Bank (Riksbank) Dep Gov Jochnick
- 05:30 (CH) Switzerland to sell 3-month Bills
- 05:30 (UK) DMO to sell 1.25B in 0.25% I/L 2052 Gilts
- 05:30 (HU) Hungary Debt Agency (AKK) to sell 3-Months Bills
- 05:30 (BE) Belgium Debt Agency to sell combined 1.4B in 3-Month and 6-Month Bills

- 06:00 (DE) German Chancellor Merkel's CDU/CSU holds Coalition Talks With SPD
- 06:30 (CL) Chile Sept Economic Activity M/M: -0.6%e v +0.7% prior; Y/Y: 4.0%e v 4.1% prior
- 06:30 - (CL) Chile Central Bank Minutes
- 06:30 (EU) ESM to sell 2.0B in 3-month Bills; Avg Yield: % v 0.040% prior; Bid-to-cover: x v 3.4x prior
- 06:45 (US) Daily Libor Fixing
- 07:00 (EU) ECB allotment in 7-day Term Deposit tender; Expected to drain 184.0B
- 07:00 (BR) Brazil Oct PMI Services: No est v 50.7 prior
- 07:30 (PT) Portugal Econ Min Pires de Lima
- 07:45 (US) Weekly ICSC Chain Store Sales
- 08:30 (SG) Singapore Oct Purchasing Managers Index: 51.0e v 50.5 prior; Electronics Sector Index: 50.9ev 50.3 prior
- 08:30 (EU) EU President Van Rompuy speaks to Parliament about EU Summit Outcome
- 08:30 (EU) ECB President Draghi speaks in Frankfurt
- 08:55 (US) Weekly Redbook Retail Sales
- 09:00 (EU) Weekly ECB Forex Reserves:
- 09:00 (MX) Mexico Sept Leading Indicators M/M: No est v 0 prior
- 09:00 (EU) ECB's Asmussen (Germany) speaks in Stockholm
- 09:00 (SE) Sweden Fin Min Borg with Danske Bank CEO at Stockholm Conference
- 10:00 (ES) Spain PM Rajoy
- 10:00 (US) Oct ISM Non-Manufacturing Composite: 54.0e v 54.4 prior
- 10:00 (US) Nov IBD/TIPP Economic Optimism: 41.8e v 38.4 prior
- 10:30 (CA) Canada to sell 3-month, 6-month and 12-month Bills
- 10:30 (UK) DMO announcement of size for 4.25% 2036 Gilt for Nov 14th
- 11:00 (US) Fed to purchase $1.25-1.75B in bonds
- 11:30 (US) Treasury to sell $40B in 4-Week Bills
- 12:00 (EU) EU's Barroso in Frankfurt
- 13:00 (ES) Spain Dep PM Saenz speaks at Prize Ceremony in Madrid
- 13:15 (US) Fed's Lacker speaks on Labor Market in North Carolina
- 16:30 (US) Weekly API Crude Oil Inventories
- 17:00 (US) Fed's Williams to speak to Reporters in San Francisco
- 18:50 (JP) Bank of Japan October 3-4 meeting minutes

 

 

 

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