User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday December 13, 2013 - 11:33:00 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: yen consolidates from 5-year lows against major pairs

TradeTheNews.com EU Market Update: yen consolidates from 5-year lows against major pairs
Fri, 13 Dec 2013 5:16 AM EST

***Notes/Observations***
-S&P affirmed Italy at BBB; outlook still negative
- Ireland to exit its bailout program this weekend; 1st EMU member to do so
- Various G7 officials (Australia and Canada) reiterate standard rhetoric on FX level that markets determine levels
- Spain Debt to GDP ratio hits record high in Q3 at 93/4%
- Italy general govt debt level hits record 2.085T
- Las Vegas sands said to drop $35B Madrid, Spain 'EuroVegas' casino plan
- US November PPI expected to confirm pipeline inflation pressures remain minimal

***Economic Data***
- (RU) Russia Narrow Money Supply w/e Dec 9th (RUB): 7.98T v 7.88T prior
- (SG) Singapore Oct Retail Sales M/M: -3.,2% v +0.9%e; Y/Y: -9.4% v -5.7%e; Retail Sales Ex Auto Y/Y: -0.9 v -0.3% prior
- (UK) Retailer John Lewis reports weekly LFL sales for week ending Dec 6th (y/y): +1.8% v +18.4% prior
- (DE) Germany Nov Wholesale Price Index M/M: -0.2% v -1.0% prior; Y/Y: -2.2% v -2.7% prior
- (FI) Finland Nov CPI M/M: -0.1% v +0.1% prior; Y/Y: 1.4% v 1.2% prior
- (FI) Finland Oct Final Retail Sales Volume Y/Y: 0.4% v 0.6% prior
- (FR) France Q3 Final Wages Q/Q: 0.2% v 0.2%e
- (CN) Shanghai Futures Exchange (SHFE) Weekly Copper Stockpiles: 143.2K v 141.5K prior
- (HU) Hungary Oct Final Industrial Production M/M: -0.5% v -0.5% prelim; Y/Y: 6.0% v 6.0% prelim
- (ES) Spain Nov CPI M/M: 0.2% v 0.2%e; Y/Y: 0.2% v 0.2%e
- (ES) Spain Nov CPI Harmonized M/M: 0.0% v 0.0%e; Y/Y: 0.3% v 0.3%e
- (ES) Spain Nov CPI Core M/M: 0.4% v 0.8% prior; Y/Y: 0.4% v 0.2% prior
- (FI) Finland Oct Current Account: +220M v -90M prior
- (EU) ECB 206M borrowed in overnight loan facility vs. 409M prior; 37.0B parked in deposit facility vs. 36.9B prior - Daily Eurosystem Liquidity Conditions
- (CH) Swiss Nov Producer & Import Prices M/M: -0.1% v +0.1%e; Y/Y: -0.4% v -0.3%e
- (NL) Netherlands Oct Trade Balance: 4.2B v 3.4B prior
- (SE) Sweden Nov Average House Prices (SEK): 2.197M v 2.096M prior
- (CZ) Czech Oct Current Account Balance (CZK): 7.8B v 0.6Be
- (ES) Bank of Spain (BOS) 3Q Public Sector Debt Data: Debt to GDP at 93.4% (record level) v 92.2% q/q
- (ES) Spain Banks Oct ECB Net Borrowings: 223.8B v 234.8B prior (15 straight monthly decline)
- (RU) Russia Central Bank (CBR) leaves One-Week Auction Rate unchanged at 5.50%, as expected
- (UK) Oct Construction Output M/M: 2.2% v 1.6%e; Y/Y: 5.3% v 1.3%e
- (IT) Bank of Italy Oct Public Finance Supplement: General Government Debt: 2.085T (record high) v 2.0686T prior
- (EU) Euro Zone Q3 Employment Q/Q: 0.0% v 0.% prior; Y/Y: -0.8% v -1.1% prior

Fixed Income:
- None seen

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
***Equities**
Indices [Stoxx50 +0.2%,
FTSE 100 flat at 6,446, DAX +0.2% at 9,037, CAC-40 +0.2% at 4,075, IBEX-35 +0.5% at 9,316, FTSE MIB +0.5% at 17,884, SMI flat at 7,850, S&P 500 Futures +0.4% at 1,775]

- Market Focal Points: Equity markets trade mixed ahead of next week's Fed meeting (Dec 17-18), FTSE 100 underperforms on resource related firms, RSA Insurance declines by over 15% on profit warning, Cautious broker commentary weighs on Utilities, Dilution concerns continue to weigh on Peugeot's shares, Upcoming ECB speakers (Coeure, Praet, Constancio)

By Sector
- Consumer Discretionary
[Peugeot UG.FR -9% (GM sold stake)]
- Energy [Gamesa GAM.ES +2.5% (to be added to IBEX-35 index)]
- Financials [Mediobanca MB.IT +2% (speculated investor interest); Royal Sun Insurance RSA.UK -15% (profit warning, CEO resignation)]
- Utilities [Endesa -1.5% (broker commentary)]
- Healthcare [AstraZeneca AZN.UK +2.5% (FDA Committee recommended DAPAGLIFLOZIN); Evotec EVT.DE -4% (cut sales forecast)]
- Stoxx50 sectors [Financials +0.5%, Consumer Cyclical +0.3%, Basic Materials +0.2%, Industrials +0.1%, technology flat; Utilities -0.4%, Consumer Non-Cyclical -0.3%, Energy -0.1%, Telecom -0.1%]

Speakers:
- S&P affirmed Italy sovereign rating at BBB; outlook negative

- ECB's Hansson (Estonia) reiterated view that ECB stands ready to act (in line with post rate decision press conference) as it understood the need to remain vigilant to guard against new risks to financial stability. Banking union must be followed by resolution mechanism
- BOE Gov Carney commented from Paris Treasury panel that it needed to complete 'too big to fail' reforms and must be strong enough to deal with bank failures. Impact of financial crisis had not ended and saw risks in emerging markets banking systems.
- BoE Head of Financial Stability Haldane: Now not the time to clamp down on housing market (*Reminder: On Nov 28th Bank of England (BOE) Financial Stability Report noted that it would end FLS (funding-for-lending) support for new mortgage loans on Jan 1st 2014)
- Cyprus Central Bank: No intention to sell gold reserves
- Czech Social Democrat leader Sobotka: Will not set any entry date for EMU at this time
- Canada rating agency DBRS's McCormick: Spain growth is a concern, but rating safe at the moment
- Brazil Fin Min Mantega: Country will not pare its fiscal effort in 2014
- BOJ Gov Kuroda: Set to continue with 2% inflation target; will stick with easy policy to keep inflation at 2% even after target is achieved
- Japan Chief Cabinet Sec Suga: No comment on FX; Critical for Japan to escape deflation
- China gives initial 2014 first batch rare earth export quota 15,090 tons v 15,500 tons y/y
- Iran halted its technical nuclear talks with global powers in Vienna and its delegation returned to Tehran for consultation
- EU official stated that more work was needed on implementation of Iran/P5+1 after 4 days of lengthy talks

Currencies/Fixed Income:
- Relatively calm price action in Europe but Fed taper talk remained on the sentiment
- The EUR/USD was at session lows at 1.3750 ahead of the NY morning. Dealers noted that Las Vegas sands decision to pull out of its $35B investment in Spain could be a headwind.
- The JPY currency hit 5-year lows against the USD and Euro during the Asian session aided by speculation builds for more BOJ easing. BOJ Gov Kuroda stated that it was set to continue with 2% inflation target and would stick with easy policy to keep inflation at 2% even after target was achieved. The yield on the benchmark 10-year JGB hit its highest level in two and a half months on selling triggered by the Nikkei stock index's rebound.

Political/In the Papers:
-(DE) ECB's Asmussen (Germany): Hope to have agreement on the Single Resolution Mechanism (SRM) within the next two weeks; ECB prepared to act if necessary
- (DE) German Banking associations have complained to the EU about French and Italian financial transaction tax
-(FR) ECB's Noyer: Banks in France are prepared for the upcoming asset quality review (AQR); Stress testing sovereign debt will be complicated
-(IE) Ireland Fin Min Noonan: Irish debt to peak this year - financial press
-(UK) Fitch: It will take time for the UK to regain AAA sovereign rating and needs to see if the medium-term projections of debt/GDP will decline in a sustainable manner - London Telegraph
- (AU) Australia PM Abbott: Market should determine the value of AUD currency (standard G7 view); RBA may sometime intervene in currency markets
- (CN) China gives initial 2014 first batch rare earth export quota 15,090 tons v 15,500 tons y/y
- (CN) PBoC should keep liquidity at moderate loose level but should terminate its proactive fiscal policy and move back towards 'prudent
- (KR) North Korea Supreme leader orders that his former right-hand advisor is executed just days after being removed from political duties; South Korea monitoring for any military instability following the purge
- European Banking Authority (EBA): Warns consumers have no protection when dealing in Bitcoins

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- 05:30 (BR) Brazil Oct Economic Activity M/M: 0.5%e v 0.0% prior; Y/Y: 2.2%e v 3.3% prior
- 06:00 (IE) Ireland Oct Trade Balance: No est v 3.2B prior
- 06:00 (FI) Finland govt confidence vote
- 06:00 (BE) Belgium to sell OLO Bonds
- 06:00 (IC) Iceland to sell Bonds
- 06:00 (EU) ECB announces weekly 3-year LTRO Funds repayment
- 06:10 (UK) DMO to sell combined 2.0B in1-month, 3-month and 6-month Bills

- 06:15 (BE) ECB's Praet (Belgium)
- 06:30 (IN) India Forex Reserves w/e Dec 6th: No est v $291.3B prior
- 06:45 (EU) ECB Constancio (Portugal) with member Hansson (Estonia), Latvia's Rimsevics Speak in Tallin
- 06:45 (US) Daily Libor Fixing
- 07:00 (IS) Iceland Nov Unemployment Rate: No est v 3.9% prior
- 07:30 (UK) BOE's Dale
- 07:30 (TR) Turkey TCMB Survey of Expectations
- 08:00 (IT) Italy Fin Min Saccomanni in Parliament
- 08:00 (PL) Poland Oct Current Account Balance: -448Me v -1.0B prior; Trade Balance: 597Me v 673M prior; Exports: 14.9Be v 13.9B prior; Imports: 14.3Be v 13.2B prior
- 08:00 (PL) Poland M3 Money Supply M/M: 0.5%e v 0.9% prior; Y/Y: 6.4%e v 5.9% prior
- 08:00 (PL) Poland Nov CPI M/M: 0.1%e v 0.2% prior; Y/Y: 0.9%e v 0.8% prior
- 08:00 (ES) Spain Debt Agency (Tesoro) to announce specific bonds in upcoming auction
- 08:30 (US) Nov PPI M/M: 0.0%e v -0.2% prior; Y/Y: 0.8%e v 0.3% prior
- 08:30 (US) Nov PPI Ex Food and Energy M/M: 0.1%e v 0.2% prior; Y/Y: 1.4%e v 1.4% prior

- 10:30 (EU) ECB Coeure (France) speaks in Monaco
- 10:30 (UK) DMO to announce Gilt issuance calendar for Jan-Mar period
- 11:00 (US) Fed to purchase $1.25-1.75B in Notes
- 11:00 (US) Senate committee votes on nomination of Raskin as Dep Treasury Secretary
- 14:00 (AR) Argentina Nov CPI M/M: 1.0%e v 0.9% prior; Y/Y: 10.6%e v 10.5% prior
- 14:00 (AR) Argentina Nov Wholesale Price Index M/M: No est v 1.1% prior; Y/Y: No est v 13.9% prior
- (CO) Colombia Central Bank Minutes
- (US) S&P Index Quarterly Review

 

 

 

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 20 November 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:


Mon 20 Nov
14:00 EZ- Draghi Speech
15:00 US- Leading Indicators
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