User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday December 19, 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: Participants focus on impact from Fed tapering; spot gold tests $1200/oz

TradeTheNews.com EU Market Update: Participants focus on impact from Fed tapering; spot gold tests $1200/oz
Thu, 19 Dec 2013 5:15 AM EST

***Notes/Observations***
- Fed announced its tapering process with $10B reduction in QE starting in January ($5B from Treasuries and $5B from MBS); Total QE now stands at $75B; Forward guidance reassured equity markets with pledge exceptionally low rates until jobless rate falls well past 6.5%and inflation below 2%; Fed Likely to reduce further pace of asset purchases in 'measured steps' if data shows improvement
- Fed's Bernanke press conference that even after the reduction in size of the asset purchase program, Fed will still be adding to its holdings at a "rapid pace."
- -China PBoC did not conduct open market operations (OMO) in its usual time period (5th consecutive session of halted operations); Shanghai Composite closed down 1% for its 8th straight loss. Later in EU session the China PBoC did come in add short-term funding to money market and stated it would continue to provide liquidity as needed
- USD/JPY hit fresh 5-year highs above 104 in Asia; Nikkei225 Index ends session +1.7%
- UK Nov Retail Sales mixed in terms of meeting expectations but registers positive readings
- Spain 5-year and 10-year auction results solid. Borrowing costs again fall with better bid-to-cover ratios


***Economic Data***
- (JP) Japan Oct Final Leading Index CI: 109.8 v 109.9 prelim; Coincident Index: 110.4 v 109.6 prelim
- (JP) Japan Nov Nationwide Dep Store sales Y/Y: 2.4% v -0.6% prior; Tokyo Dept Store Sales Y/Y: No est v 1.2% prior
- (CH) Swiss Nov Trade Balance (CHF): 2.1B v 2.8Be; Real Exports M/M: +4.2% v -3.0% prior; Real Imports M/M: +6.8% v -2.2% prior
- (ES) Spain Oct Industrial Orders NSA Y/Y: -4.0% v -3.4% prior; Industrial Orders WDA -6.4% v -0.5% prior
- (EU) ECB 125M borrowed in overnight loan facility vs. 193M prior; 44.0B parked in deposit facility vs. 43.3B prior - Daily Eurosystem Liquidity Conditions
- (NL) Netherlands Dec Consumer Confidence Index: -16 v -16e
- (NL) Netherlands Nov Unemployment Rate: 8.5% v 8.5%e
- (EU) Euro Zone Oct Current Account Seasonally Adj: 21.8B v 14.9B prior; Current Account NSA (unadj): 26.2B v 15.2B prior
- (IT) Italy Nov Hourly Wages M/M: 0.0% v 0.2% prior; Y/Y: 1.3% v 1.4% prior
- 0 (IS) Iceland Nov Wage Index M/M: 0.2% v 0.2% prior; Y/Y: 6.1% v 6.0% prior
- (UK) Nov Retail Sales Ex Auto M/M: 0.4% v 0.3%e; Y/Y: 2.3% v 2.4%e
- (UK) Nov Retail Sales including Auto M/M: 0.3% v 0.3%e; Y/Y: 2.0% v 2.2%e

- (GR) Greece Q3 Unemployment Rate: 27.0% v 27.1% prior

Fixed Income:
- (ES) Spain Debt Agency (Tesoro) sold total 2.55B vs. 1.5-2.5B indicated range in 2018 and 2023 Bonds

- Sold 1.49B in 3.75% Oct 2018 Bono; Avg yield 2.697% v 2.722% prior (Lowest since July 2005); Bid-to-cover: 2.72x v 2.2x prior; Maximum Yield 2.722% v 2.740% prior
- Sold 1.06B in 4.40% Oct 2023 bono; Avg Yield: 4.098% v 4.164% prior; Bid-to-cover: 3.61x (highest since 2004) v 2.57x prior; Max Yield: 4.121% v 4.176% prior

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
***Equities**
Indices [Stoxx50 +1.7%,
FTSE 100 +0.9% at 6,555, DAX +1.4% at 9,314, CAC-40 +1.5% at 4,171, IBEX-35 +1.9% at 9,625, FTSE MIB +1.4% at 18,384, SMI +1.5% at 7,999, S&P 500 Futures -0.1% at 1,803]

- Market Focal Points: European equity markets opened sharply higher as Fed begins taper of QE and pledged to keep rates low, Banking sector trades higher following gains seen in US banks, SAAB gains over 25% on contract award, FTSE 100 lags on declines in precious metals miners and HSBC, Shanghai equities decline for 8th straight session as money market rates rise sharply

By Sector
- Consumer Discretionary
[Mediaset MS.IT +6.5% (consolidation plan), Amadeus AMA.ES +1% (acquisition); SAS SAS.SE -4% (Q4 sales declined y/y)]
- Technology [Keller Group KLR.UK +2% (reaffirmed outlook), SAP SAP.DE +1.5% (Earnings from Oracle); Serco Group SRP.UK -2% (cut FY cash flow outlook)]
- Telecom [Deutsche Telekom DTE.DE +2.5% (renewed takeover speculation related to T-Mobile USA)]
- Industrials [SAAB SAABB.SE +25% (contract award), Meyer Burger MBTN.CH +3% (updated FY guidance), Tessenderlo TESB.BE +3% (CEO change), Vinci DG.FR +2% (contract award); Dassault Aviation AM.FR -3.5% (lost contract)]
- Healthcare [Astrazeneca AZN.UK +1% (acquisition)]
- Energy [Nordex NDX1.DE +3% (awarded order)
- Basic Materials/Resources [Fresnillo FRES.UK -1.5% (declines in precious metals prices)]
- Stoxx50 sectors [Telecom +1.8%,Industrials +1.7%, Technology +1.3%, Financials +1.2%, Energy +1.2%, Consumer Non-Cyclical +1.1%, Consumer Cyclical +0.8%, Basic Materials +0.7%, Utilities +0.5%]

Speakers:
- (CN) China PBoC stated that it added short-term funding to money market and would continue to provide liquidity as needed
(**Note: The move by the PBoC came as the central bank refrained from conducting regular open market operations for the past few sessions. Also, interbank trading in China was extended as money market rates hit highs not seen since the June cash crunch)
- Swiss Dec SECO Economic Forecasts lowered its 2013 and 2014 CPI views. SECO saw improving growth through 2015
- Italy employers lobby Confindustria stated that the country's two-year recession was over but effects continued. It trimmed its Q4 GDP growth outlook to 0.2% from 0.3% prior view due to pessimism and falling house prices. It also cut its 2013 GDP forecast from -1.6% to -1.8%. It saw 2014 GDP +0.7% (downside scenario +0.4% with 2015 GDP flat)
- German Bundesbank's Thiele: 32% of all bank transfers in Nov followed SEPA standards
- Basel Committee revision to securitization framework and proposed minimum risk weight of 15% for securitized products vs 20% prior
- Russia President Putin Annual Press Conference stated that he did not oppose the Ukraine-EU trade association but it would have prompted Russia to defend its market. The $15B bailout loan to Ukraine reflected special ties with the country and was not motivated by protests or EU deal. He added that Russia was seeking long term solution to keep gas prices low and that Iskander missiles were not deployed in Kaliningrad region. However, West's effort to build missile defense poses threat to Russia
- Brazil govt issued decree releasing BRL1.9B to States and municipalities to help boost exports
- Japan PM Abe: To pick locations for special economic zones in March
- China Vice Fin Min Zhu: The start of US tapering is welcome, a sign that the US economy is stabilizing; Fed must be mindful of policies' impact on others.

Currencies/Fixed Income:
- The USD has exhibited modest gains over the past 24 hours aided by the FOMC decision. The FED's moderate (friendly) start to the tapering process was supplemented by a more bullish assessment of the economic outlook, especially on the unemployment outlook. However, Dealers pointed out that the overall statement was dovish with the distribution of the FOMC members' expectations for the timing of a first policy firming being shifted out further. The later aiding the US equity market.
- The EUR/USD failed to make a fresh 2013 high on Thursday and fell short the 1.3830 level. The pair hovered around the 1.3680 area in today's session.
- USD/JPY hit fresh 5-year highs above 104.30 and put in play a possible test of 105.00 before year-end
- Spot gold tested $1,200/oz before rebounding a bit. (**Note: The Jun 24th intra-day low was approx 1,179.85/oz). Gold denominated in Euro and Sterling terms tested lows not seen since mid-2010

Political/In the Papers:
- (EU) EU finance ministers said to have approved single resolution mechanism (SRM), system for winding down troubled banks
- (UK) Fitch affirms UK sovereign rating at AA+; outlook Stable
- (UK) BoE's Mccafferty reiterated his view that saw no sudden interest rate hike in 2014
- (US) Fed's Bernanke: Expecting economic growth to pick up in coming quarters, helped by monetary policy and decreasing fiscal drag - post statement news conference; FOMC is determined that inflation will not get too low or too high; Would not expect any changes to the guidance thresholds in the near future.
- (US) FOMC Updated its Economic Forecasts: lowered 2013-2016 unemployment forecasts, widens 2014 GDP forecast
- (US) Senate approved two-year budget agreement (as expected)
- (JP) Japan investors bought net 110.5B in foreign bonds last week vs bought net 413.2B in prior week (10th straight week of net purchases)
-(JP) Japan may set FY14/15 GDP target at 1.4% - financial press
- (CN) Daily Shibor fixings: 1-week: 6.4720% v 5.9020% prior (4rd consecutive rise, highest since June 26th)

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- (CN) US-China to again hold Joint Commission on Commerce and Trade (JCCT) talks in Beijing
- (CH) Swiss government meeting
- (IL) Israel Nov Leading 'S' Indicator M/M: No est v 0.2% prior
- (PT) Portugal Oct Current Account Balance: No est v -20.1M prior
- 05:30 (HU) Hungary Debt Agency (AKK) to sell 12-Month Bills
- 06:00 (IE) Ireland Nov PPI M/M: No est v -0.4% prior; Y/Y: No est v -0.1% prior
- 06:00 (IE) Ireland Q3 GDP Q/Q: 0.6%e v 0.4% prior; Y/Y: +0.6%e v -1.2% prior
- 06:00 (RU) Russia Gold and Forex Reserve w/e Dec 13th: No estv $511.2B prior
- 06:00 (BR) Brazil Dec IBGE Inflation IPCA-15 M/M: 0.7%e v 0.6% prior; Y/y: 5.7%e v 5.8% prior
- 06:00 (BR) Brazil Nov Unemployment Rate: 4.9%e v 5.2% prior

- 06:00 (IL) Israel Oct Manufacturing Production:
- 06:45 (US) Daily Libor Fixing
- 07:30 (BR) Brazil Nov Total Outstanding Loans (BRL): No est v 2.610T prior; M/M: No est v 0.5% prior; Private Banks Lending: No est v 1.288T prior; Personal Loan Default Rate: No est v 6.8% prior
- 08:00 (PL) Poland Central Bank (NBP) Minutes
- 08:00 (BR) Brazil to sell 2014, 2015 and 2017 Bills
- 08:00 (RO) Romania to sell 2016 Bonds
- 08:30 (US) Initial Jobless Claims: 332Ke v 368K prior; Continuing Claims: 2.77Me v 2.791M prior
- 08:30 (US) Weekly USDA Net Export Sales
- 08:30 (US) Fed's Fisher on Texas economy
- 09:00 (MX) Mexico Oct Retail Sales Y/Y: -1.6%e v -4.0% prior
- 09:00 (EU) EU Leaders begin 2-day Summit in Brussels
- 09:00 (CH) SNB Quarterly Bulletin
- 10:00 (US) Dec Philadelphia Fed Business Outlook: 10.0e v 6.5 prior
- 10:00 (US) Nov Existing Home Sales: 5.02Me v 5.12M prior

- 10:00 (US) Nov Leading Index: 0.7%e v 0.2% prior
- 10:00 (MX) Mexico Central Bank Economist Survey
- 10:00 (US) API Monthly Statistical Report
- 10:30 (US) Weekly EIA Natural Gas Inventories
- 11:00 (CO) Colombia Q3 GDP Q/Q: 0.5%e v 2.2% prior; Y/Y: 4.3%e v 4.2% prior
- 11:00 (BR) Brazil to sell Fixed-rate 2019 and 2023 bonds
- 11:00 (US) Fed to purchase $1.25-1.75B in Notes
- 13:00 (US) Treasury to sell $16B in 5-Year TIPS Reopening
- 13:00 (US) Treasury to sell $29B in 7-Year Notes

- 14:00 (US) Fed to purchase $4.75-5.75B in Notes
- 16:00 (CO) Colombia Oct Retail Sales Y/Y: 4.6%e v 2.3% prior
- 16:00 (CO) Colombia Oct Industrial Production Y/Y: -0.3%e v -1.8% prior
- 19:05 (UK) Dec GfK Consumer Confidence: -11e v -12 prior
- (JP) Bank of Japan (BOJ) Monetary Policy Statement; expected to leave Monetary Base Target unchanged at 270T

 

 

 

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