User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday November 12, 2013 - 11:16:59 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: UK inflation comes in lower than expectations; Northern ECB members reiterates central bank forward guidance policy

TradeTheNews.com EU Market Update: UK inflation comes in lower than expectations; Northern ECB members reiterates central bank forward guidance policy
Tue, 12 Nov 2013 5:21 AM EST

***Notes/Observations***
- Japan Oct Consumer confidence 41.2 vs. 45.5e
- Improved growth outlook has boosted risk sentiment despite possible Fed tapering
- China Communist Party concluded its 3-day Plenum meeting and approved economic reform plans (awaiting details)
- Spread between US and Japanese 30-year bond at widest level since 2011; JPY currency weakens against G10 currencies; Nikkei rise by 2.2% in session
- Indonesia surprises with its 5th rate hike to curb its current account deficit
- Numerous northern ECB members (Nowotny, Asmussen) reiterate forward guidance
- UK inflation data (CPI, RPI and PPI) come in below expectations ahead of Wed BOE quarterly inflation report
- Italy sold 12-month bills at EMU record low yield; Greece 13- week auction yield 2 year low


***Economic Data***
- (JP) Japan Oct Consumer Confidence Index: 41.2 v 45.5e

- (JP) Japan Oct Preliminary Machine Tool Orders Y/Y: % v -6.3% prior
- (DE) Germany Oct Final CPI M/M: -0.2% v -0.2%e; Y/Y: 1.2% v 1.2%e
- (DE) Germany Oct Final CPI EU Harmonized M/M: -0.2% v -0.2%e; Y/Y: 1.2% v 1.3%e
- (DE) Germany Oct Wholesale Price Index M/M: -1.0% v 0.7% prior; Y/Y: -2.7%v -2.2% prior
- (FR) Bank of France Oct Business Sentiment: 99 v 97e
- (ID) Indonesia Central Bank (BI) raised Reference Rate by 25bps to 7.50%; Not expected
- (HU) Hungary Oct CPI M/M: -0.3% v +0.1%e; Y/Y: 0.9% v 1.4%e
- (EU) ECB 2M borrowed in overnight loan facility vs. 2.0M prior; 60.2B parked in deposit facility vs. 62.4B prior - Daily Eurosystem Liquidity Conditions
- (SE) Sweden Oct CPI M/M: -0.2%% v +0.1%e; Y/Y: -0.1%% v 0.2%e; CPI Level: 314.40 v 315.01e
- (SE) Sweden Oct CPI Underlying (CPIF) M/M: -0.2%% v 0.1%e; Y/Y: 0.6% v 0.9%e
- (CZ) Czech Sept Current Account (CZK): -2.9B v -1.0Be
- (IT) Italy Oct Final CPI M/M: -0.2% v -0.3%e; Y/Y: 0.8% v 0.7%e; Ex Tobacco: 107.1 v 107.2 prior
- (IT) Italy Oct Final CPI EU Harmonized M/M: 0.1% v 0.0%e; Y/Y: 0.8% v 0.7%e
- (UK) Oct PPI Input M/M: -0.6% v -0.7%e; Y/Y: -0.3% v +0.1%e
- (UK) Oct PPI Output M/M: -0.3% v 0.0%e; Y/Y: 0.8% v 1.0%e
- (UK) Oct PPI Output Core M/M: 0.1% v 0.1%e; Y/Y: 0.9% v 0.7%e

- (UK) Sept ONS House Price Y/Y: 3.8% v 3.7% prior
- (UK) Oct CPI M/M: 0.1% v 0.3%e; Y/Y: 2.2% v 2.5%e; CPI Core Y/Y: 1.7% v 2.0%e
- (UK) Oct RPI M/M: 0.0% v 0.4%e; Y/Y: 2.6% v 2.9%e;; RPI-X (Ex Mort Int.Payments) Y/Y: 2.7% v 3.0%e; Retail Price Index: 251.9 v 252.8e


Fixed Income:
- (NL) Netherlands Debt Agency
(DSTA) sold 1.955B vs. 1.5-2.5B indicated range in 1.75% July 2023 DSL bond; Avg Yield: 2.104% v 2.412% prior
- (IT) Italy Debt Agency (Tesoro) sold 6.5B vs. 6.5B indicated in 12-month Bills; Avg Yield: 0.688% v 0.999% prior; Bid-to-cover:1.80 x v 1.72x prior
- (GR) Greece Debt Agency (PDMA) sold 1.3B vs. 1.0B indicated in 13-week Bills; Avg Yield: 3.90% v 3.95% prior; Bid-to-cover: 2.03x v 1.89x prior
- (EU) ECB allotted 87.7B in 7-Day Main Refi tender at fixed 0.25% vs. 90.0Be
- (EU) ECB allotted 3.2B in 1-month LTRO at fixed 0.25% vs. 4.0Be 21 bids recd

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
***Equities**
Indices [Stoxx50 -0.30%,
FTSE 100 -0.30% at 6,707, DAX -0.20% at 9,087, CAC-40 -0.30% at 4,276, IBEX-35 -0.80% at 9,708, FTSE MIB -0.30% at 19,060, SMI -0.20% at 8,264, S&P 500 Futures -0.20% at 1,764]

- Market Focal Points: European equity declines led by Spain's IBEX-35, Big European earnings (Swiss Life, Deutsche Post, CRH, Henkel, Lanxess, Vodafone), Infineon earnings weigh on tech sector Lower commodity prices weigh on resource related firms, RBS lags in the banking sector, Mixed trading in Asia amid taper concerns

By Sector
- Industrials
[Leoni LEO.DE -3% (Q3 profits below ests), Bilfinger SE GBF.DE (Q3 sales below ests); Deutsche Post DPW.DE +2% (reaffirmed forecast), Lanxess LXS.DE +1% (Q3 profits above ests), Henkel HEN3.DE +1% (raised margin target)
- Financials [Unicredit UCG.IT +1% (Q3 results above ests); Swiss Life SLHN.CH (9-month premiums rose y/y); RBS RBS.UK -2% (broker commentary)]
- Basic Materials/Resources [Norsk Hydro NHY.NO -5% (share placement); CRH CRH.UK +3% (Q3 profits rose y/y)]
- Technology [Infineon IFX.DE -3% (Q4 sales below ests); Osram OSR.DE +5% (increased cost cutting plan)]
- Telecom [Vodafone VOD.UK flat (Q2 service Rev below ests, reaffirmed outlook); Talktalk TALK.UK +6% (raised outlook)]
- Healthcare [Evotec EVT.DE -7.5% (swung to 9-month loss), Glaxo GSK.UK -1% (data presentation); Andor Technology AND.UK +23% (takeover offer), Galapagos GLBG.BE +3.5% (collaboration agreement), Biotest BIO.DE +3% (raised outlook)]
- Stoxx50 Sectors [Technology -1.1%, Energy -1%, Telecom -0.8%, Utilities -0.4%,Financials -0.4%, Consumer Cyclical -0.4%, Industrials -0.1%, Consumer Non-Cyclical -0.10%, Basic Materials -0.1%]

Speakers:
- ECB's Nowotny
(Austria) reiterated forward guidance in that many central banks had reached the lower bound but not the ECB. Perspective of deflationary prices must be kept in mind, deflation was not imminent. There was no north-south division in the ECB council; differences existed on timing not substance. Stagflation, not deflation, was the real risk at this time
- ECB's Asmussen (Germany) also reiterated forward guidance: ECB has not yet reached the limit on what it could do on interest rates depending on inflation developments. Would be careful about moving to negative deposit rate, but would not rule it out. Might be possible to drop minimum ECB reserve requirement for bank (would increase liquidity)
- German Coalition working group agreed on nationwide referendums should be held on EU policy decisions of special importance
- EU's Almunia commented that there was no time to waste on putting banking union together and the competition regulator was looking into market credit default swaps
- Russia Central Bank said to see increased risk inflation would remain above year-end target of +5-6%
- Fed's Fisher (hawk, 2014 voter) commented from Australia that monetary accommodation was riskier by the day as there was a tipping point where monetary accommodation came to be viewed not as the pleasant stimulus that levitates bonds
- Poland Central Bank (NBP) Inflation Report raised its inflation and GDP forecasts for 2013-15 periods
- Spain banking sector CEOs to meet ECB's Draghi on Monday, Nov 18th in Frankfurt in preparation of stress tests
- China Communist Party concluded it Plemum meeting and approved economic reform plans
- International Energy Agency (IEA) World Energy Outlook raises its 2035 world oil demand to 101M bdp from 99.7M bpd due to growth in Asia. China seen as world's largest oil consumer by 2030. US becoming world's largest oil producer by 2016, earlier than expected

Currencies/Fixed Income:
- Lots of central bank speak in the EU/US session today and traders looked to be reinforced with forward guidance by ECB and potential timing of tapering by Fed following last week's run of better US data that ended with a much better than expected NFP reading.
- EUR/USD remained below the 1.34 handle as several northern ECB members speak the standard line on forward guidance.
- USD/JPY saw the yen currency weakens to 2-month lows at 99.70 ahead of the European session as dealers focused on the spread between US and Japanese 30-year bond at widest level since 2011
- GBP/USD fell to 2-month lows below 1.5870 after UK inflation data (CPI, RPI and PPI) came in below expectations ahead of Wed's BOE quarterly inflation report
- EUR/NOK saw the Krone currency at lowest level against the Euro since Jan 2010 as dealers attributed part of the NOK weakness to reports that Brazil's Vale priced to sell its stake of 407.1M shares at NOK25/shr in Norsk Hydro

Political/In the Papers:
- (EU) Agreement said to have been reached on EU 2014 budget
- ECB's Draghi might be concerned about possibility of deflation, but he would not state so publically
- (US) Fed's Fisher (hawk, 2014 voter): Recent jobs numbers not that bad
- (CN) China International Capital Corp (CICC): China may lower 2014 GDP target to 7.0%, down from 7.5% for 2013

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- (UK) Economist European Retail Banking Summit
- (NO) Norway Central Bank ( Norges) Bank Dep. Gov Qvigstad speaks in Oslo
- (IL) Israel PM speaks at BLINK Fuel Conference
- (FR) France President Hollande host German Chancellor Merkel on youth unemployment
- (MX) Mexico Oct ANTAD Same-Store Sales Y/Y: No est v -3.2% prior
- (PE) Peru Sept Trade Balance: No est v $92M prior
- (PT) Bank of Portugal releases Data on Banks
- 05:30 (HU) Hungary Debt Agency (AKK) to sell 3-Months Bills
- 05:30 (BE) Belgium Debt Agency to sell combined 2.2B in 3-Month and 6-Month Bills

- 06:00 (IL) Israel Oct Trade Balance: No est v -$1.8B prior
- 06:00 (PT) Portugal Oct CPI M/M: 0.3%e v 0.6% prior; Y/Y: 0.1%e v 0.1% prior
- 06:00 (PT) Portugal Oct CPI EU Harmonized M/M: 0.1%e v 0.5% prior; Y/Y: 0.2%e v 0.3% prior
- 06:00 (EU) OECD Sept Leading Indicators: No est v 100.6 prior
- 06:30 OPEC Monthly Report
- 06:30 (CL) Chile Central Bank's Economist Survey
- 06:45 (US) Daily Libor Fixing
- 07:00 (EU) ECB allotment in 7-day Term Deposit tender; expected to drain 184.0B
- 07:00 (IN) India Oct CPI Y/Y: 9.9%e v 9.9% prior
- 07:00 (IN) India Sept Industrial Production Y/Y: 3.5%e v 0.6% prior

- 07:30 (US) Oct NFIB Small Business Optimism: 93.5e v 93.9 prior
- 08:00 (PL) Poland Sept Current Account Balance: -823Me v -719M prior; Trade Balance: 477Me v 264M prior; Exports: 13.8Be v 12.5B prior; Imports: 13.3Be v 12.3B prior
- 08:30 (US) Sept Chicago Fed National Activity Index: 0.18e v 0.14 prior
- 08:50 (FR) France Debt Agency to sell combined 6.8B in 3-month, 6-month and 12-month Bills
- 08:55 (US) Weekly Redbook Retail Sales
- 09:00 (EU) Weekly ECB Forex Reserves: No est v 207.2B prior
- 10:00 (MX) Mexico weekly International Reserves
- 10:30 (UK) DMO announcement of size in upcoming Nov 9th sale of 2.23% 2023 Gilts
- 11:00 (US) Fed to purchase $1.25-1.75B in bonds
- 11:00 (BR) Brazil to sell I/L 2018, 2022, 2030, 2040 and 2050 Bonds
- 11:00 (DE) ECB's Asmussen (Germany) in London
- 11:30 (US) Treasury to sell combined $60B in 3-Month and 6-Month Bills
- 12:30 (SE) Sweden Central Bank (Riksbank) Gov Ingves
- 13:00 (US) Fed's Kocherlakota speaks on Monetary Policy in St. Paul, MN
- 13:00 (US) Treasury to sell $30B in 3-Year Notes
- 13:30 (CA) Canada Fin Min Flaherty
- 13:50 (US) Fed's Lockhart Speaks on Economy in Montgomery, Alabama
- 15:00 (NZ) New Zealand Central Bank (RBNZ) Financial Stability Report
- 15:00 (NZ) New Zealand Central Bank (RBNZ) Financial Stability Report
- 16:45 (NZ) New Zealand Oct Food Prices M/M: No est v 0.0% prior

 

 

 

 

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