User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday November 20, 2013 - 11:29:43 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: BOE's MPC continued its unanimous vote of steady policy under Carney's tenure

TradeTheNews.com EU Market Update: BOE's MPC continued its unanimous vote of steady policy under Carney's tenure
Wed, 20 Nov 2013 5:17 AM EST

***Notes/Observations***
- Japan Oct Trade Balance registers its record 16th consecutive deficit (and 3rd largest) as energy import costs mount
- (CN) China MoF auctions 10-yr bonds, Avg yield 4.7121% (highest yield in 9 years)
- China conference board leading index at a 3-month low
- Outgoing Fed chief Bernanke struck a familiar dovish tone, reiterating that interest rates may remain near zero for considerable time after bond buys end
- No surprises in BOE minutes; MPC continued its unanimous vote of steady policy under Gov Carney's tenure

***Economic Data***
- (DE) Germany Oct PPI M/M: -0.2% v 0.0%e; Y/Y: -0.7% v -0.6%e

- (JP) Japan Oct Convenience Store Sales Y/Y: -0.8% v v -1.6% prior
- (TW) Taiwan Oct Export Orders Y/Y: 3.2% v 0.8%e
- (ZA) South Africa Oct CPI M/M: 0.2% v 0.3%e; Y/Y:5.5% v 5.7%e
- (ZA) South Africa Oct CPI Core M/M: 0.2% v 0.2%e; Y/Y: 5.3% v 5.3%e
- (EU) ECB 0M borrowed in overnight loan facility vs. 2M prior; 46.0B parked in deposit facility vs. 48.7B prior - Daily Eurosystem Liquidity Conditions
- (TW) Taiwan Q3 Current Account Balance: $14.9B v $13.8B prior
- (NL) Netherlands Nov Consumer Confidence Index: -18 v -25e
- (SE) Sweden Q3 Total Number of Employees Y/Y: 1.3 v 1.2% prior
- (ES) Spain Sept Trade Balance: No est v -1.8B prior
- (UK) Bank of England (BOE) Monetary Policy Committee Minutes : Voted unanimous again to leave interest rates at 0.50% and Asset Purchase Target (APT) at 375B
- (CH) Swiss Nov Credit Suisse ZEW Expectations Survey: 31.6 v 24.9 prior

Fixed Income:
- (RU) Russia sold RUB13B in 2028 OFZ Bonds; Yield: 7.93% vs. guidance of 7.88-7.93%
- (IN) India sold total INR120B vs. INR120B indicated in 3-month and 6-month Bills
- (SE) Sweden sold SEK15B vs. SEK15B indicated in 3-month Bills; Yield: 0.8818%
- (EU) ECB allotted $0.0M in 8-Day USD Liquidly Tender at fixed 0.58% vs. $0.0M (9th straight week without an allotment)

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
***Equities**
Indices [Stoxx50 flat
, FTSE 100 -0.2% at 6,682, DAX -0.10% at 9,188, CAC-40 -0.1% at 4,267, IBEX-35 -0.4% at 9,595, FTSE MIB -0.2% at 18,721, SMI -0.40% 8,266, S&P 500 Futures flat at 1,785]

- Market Focal Points: Equities open lower following mixed trading in Asia, FTSE 100 lags on ex-dividends, Fed's Bernanke Comments, FOMC minutes due later today

By Sector
- Telecom
[Alcatel-Lucent ALU.FR -3% (capital raise), Vodafone VOD.UK -1% (ex dividend), Sky Deutschland -1% (broker commentary); Telecom Plus TEP.UK +12.5% (raised dividend, H1 Rev +17% y/y)]
- Industrials [Zodiac ZC.FR +2% (FY profits +16% y/y)]
- Basic Materials/Resources [ThyssenKrupp TKA.DE -2% (reports earnings on Thursday); Nyrstar NYR.BE +5.5% (issued update on Talvivaara Mining)]
- Healthcare [Tigenix TIG.BE -20% (share placement)]
- Technology [Soitec SOI.FR -2% (H1 net loss widened)]
- Consumer Discretionary [TF1 TFI.FR +6% (talks with Discovery Communications, France qualified for World Cup); Metro MEO.DE +3% (broker commentary)]
- Stoxx 50 movers [Telecom -0.5, Utilities -0.4%, Industrials -0.1%; Consumer Non-Cyclical +0.3%, Technology +0.2%, Consumer Cyclical +0.1%, Basic Materials +0.1%, Financials flat]

Speakers:
- Bank of England (BOE) Monetary Policy Committee Minutes
noted that all MPC agreed no guidance knockouts had been breached and reiterates that saw no case for no rate hike when 7% jobless threshold was hit. It reiterated market rate rise likely to slow pace of growth. Expected growth to pick up in the near term, due to housing and household spending but moderate over the next 2-3 years
- ECB's Weidmann (Germany) stated that it was not sensible to further loosen monetary policy. He added that ECB was not technically at the end of its options. He noted that Competitiveness is key remedy to European situation not interest rates
- Spain Deputy Econ Min Latorre: To change banks' DTA treatment by year-end
- Greece Finance Ministry preparing legislation to give Development Fund more ways to raise revenue
- ECB Ireland bailout official Rodriguez-Palenzuela: EU bank deleveraging remained a major task. Deleveraging was proceeding at a pace in aid program countries but happening slowly in others
- Russia Central Bank chief Nabiullina stated that 1.5-2% GDP growth is the new normal for the country
- Hungary Central gov Matolcsy reiterated view of further room for interest rate cuts (in line with recent post rate decision press conferences)
- Czech Central Banker Tomsik: Flash Q3 GDP estimate (of -0.5% q/q) showed economy might be headed back to recession. He reiterated the central bank's aims to keep Koruna around 27 level vs Euro as deflation would have started in Jan without fx interventions.
- Japan GPIF pension fund advisory panel report: GPIF should review domestic bond-focused portfolio and diversify investments. The panel should consider investing in REIT, Private Equity, commodities, and infrastructure; consider investing in inflation-linked JGBs
- Moody's raised Malaysia sovereign outlook to positive from stable; reaffirms A3 rating
- Iran Supreme Leader Ayatollah Ali Khamenei stated that Iran was not a global threat and not hostile to the US. He supported nuclear negotiators but Iran would not step back in any way from its nuclear rights

Currencies/Fixed Income:
- The USD was steady during the European morning following Bernanke's dovish comments overnight. The EUR/USD took out stops above 1.3550 in Asia (1.3580 was the high) before settling back down into familiar territory. The pair was at 1.3522 ahead of the NY morning.
- BoE MPC minutes were a non-event after the BOE quarterly inflation report talked about forward guidance last week. Market has still revised expectations for a BoE rate hike and BOE Gov Carney stated overnight there was a 40% chance that his threshold could be met by the end of next year. The GBP/USD tested 1.6150 in the session and appeared supported on dips
- The USD/JPY moved back above the parity level after Japan pension fund GFIF advisory panel report came out and recommended that the world's largest pension fund should review domestic bond-focused portfolio and diversify its investments

Political/In the Papers:
-(GR) Troika said to have rejected Greece's 2014 rev targets as optimistic; Greece needs to make cuts to health, defense and the public sector - financial press
- (BE) Fitch affirms Belgium sovereign rating at AA; outlook Stable
- (EU) ECB's Constancio: QE is still an option but has not been discussed in great technical detail; there are concerns about the possible impact of negative deposit rates
- (EU) FT comments on how euro zone banks have accelerated the repaying of LTRO loans ahead of stress tests
-(US) Fed Chairman Bernanke: Rates may remain near zero for considerable time after bond buys end, and possible well after unemployment declines to less than 6.5% - National Economists Club speech; The US economy still far from where we would like it to be, maybe sometime before return to normal.
- (US) Fed's Evans (dove, FOMC voter): Not in a hurry to see the flow of QE purchases tapered, while there have been improvements in the labor market, more sustainability is needed

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- (EU) EBA Management Board Meeting in London
- (CH) Swiss government meeting
- (CN) EU-China Summit Nov. 21-22 in Beijing
- (IR) negotiators meet Iran officials in Geneva through Nov 22nd
- (RU) Russia President Putin with Israel PM Netanyahu
- (IT) Italy Chamber of Deputies (Lower House) no-confidence vote on Justice Min Cancellieri
- 05:30 (UK) BOE's Dale in London
- 05:30 (PT) Portugal Debt Agency (IGCP) to sell 1.0B 3-month and 12-month bills
- 05:30 (HU) Hungary to sell Bonds in Switch Auction
- 06:00 PM Tusk: Will announce Polish govt changes on Wed, Nov 20th
- 06:00 (DE) German Chancellor Merkel with Norway PM Solberg
- 06:00 (PL) Poland to sell Bonds
- 06:45 (US) Daily Libor Fixing
- 07:00 (RU) Russia to sell 2020 OFZ Bonds;Yield guidance between 7.27-7.32%
- 07:00 (US) MBA Mortgage Applications w/e Nov 15th: No est v -1.8% prior
- 07:00 (UK) Prime Minister's Question Time in House of Commons
- 08:30 (US) Oct Advance Retail Sales M/M: 0.1%e v -0.1% prior; Retail Sales Ex Auto M/M: 0.1%e v 0.4% prior; Retail Sales Ex Auto and Gas: 0.2%e v 0.4% prior; Retail Sales Control Group: 0.3%e v 0.5% prior
- 08:30 (US) Oct CPI M/M: 0.0%e v 0.2% prior; Y/Y: 1.0%e v 1.2% prior

- 08:30 (US) Oct CPI Ex Food and Energy M/M: 0.1%e v 0.1% prior; Y/Y: 1.7%e v 1.7% prior
- 08:30 (US) Oct CPI NSA: 223.600e v 234.149 prior; CPI Core Index: 234.929e v 234.589 prior
- 08:30 (CA) Canada Sept Wholesale Trade Sales M/M: 0.3%e v 0.5% prior
- 09:00 (BE) Belgium Nov Consumer Confidence Index: No est v -6 prior
- 09:00 (MX) Mexico Sept Retail Sales Y/Y: -2.5%e v -2.2% prior
- 10:00 (EU) Netherlands Fin Min Dijsselbloem holds Annual Europe House Lecture in The Hague
- 10:00 (IT) Italy PM Letta meets French President Hollande in Rome
- 10:00 (US) Fed's Dudley to speak on Economy at Briefing in New York
- 10:00 (US) Oct Existing Home Sales: 5.14Me v 5.29M prior
- 10:00 (US) Sept Business Inventories: 0.3%e v 0.3% prior
- 10:00 (MX) Mexico Weekly International Reserves
- 10:30 (US) Weekly DOE Crude Oil Inventories
- 11:00 (IS) Iceland Central Bank Minutes
- 11:00 (US) Fed to purchase $1.25-1.75B in Notes
- 11:30 (NO) Norway PM Solberg speaks at CDU Foundation
- 12:00 (CA) Canada to sell 2-Year Bonds
- 12:10 (US) Fed's Bullard speaks on Economy and Monetary Policy in Chicago
- 13:30 (UK) BOE's Weale in London
- 14:00 (US) Fed Minutes from Oct 29-30 FOMC Meeting
- 14:00 (AR) Argentina Q3 Unemployment Rate: 7.2%e v 7.2% prior
- 16:00 (KR) South Korea Oct Discount Store Sales Y/Y: No est v -5.3% prior; Department Store Sales Y/Y: No est v 2.8% prior
- 16:00 (NZ) New Zealand Oct ANZ Job Advertisements: No est v 1.1% prior
- 16:00 (CO) Colombia Sept Retail Sales Y/Y: No est v 6.9% prior
- 16:00 (CO) Colombia Sept Industrial Production Y/Y: No est v -3.9% prior
- 16:15 (CA) Bank of Canada's Poloz, Macklem speak at Senate Committee
- 20:45 (CN) China Nov HSBC/Markit Flash Manufacturing PMI: 50.8e v 50.9 prior
- (JP) Bank of Japan (BOJ) Monetary Policy Statement ; Expected to leave both Interest Rate Target and Monetary Base Target unchanged at 0.1% and 270T respectively

 

 

 

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