User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday March 19, 2014 - 10:13:19 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: Focus on FOMC and whether guidance has been altered by the extreme US winter weather

 
Wed, 19 Mar 2014 5:37 AM EST

***Notes/Observations***
- Japan announced another trade deficit which was wider than expected but still smaller than the past 3 months on adjusted basis (-800B vs. -600Be)
- The UK budget is also in focus and expected to be neutral in tone ahead of the May 2015 elections in Britain.
- FOMC decision: Fed is widely expected to continue to reduce the size of its monthly bond purchase program by $10Bn each meeting, market to focus whether the extreme US winter weather altered their guidance on the economic recovery

***Economic Data***
- (JP) Japan Jan All Industry Activity Index M/M: +1.2%e v -0.1% prior
- (JP) Japan Jan Final Leading Index CI: 113.1 v 112.2 prelim; Coincident Index: 115.2 v 114.8 prelim
- (JP) Japan Feb Nationwide Dept Sales Y/Y: 3.0% v 2.9% prior; Tokyo Dept Store Sales Y/Y: 3.9% v 5.4% prior
- (ZA) South Africa Feb CPI M/M: 1.1% v 1.1%e; Y/Y: 5.9% v 5.9%e
- (ZA) South Africa Feb CPI Core M/M: 1.2% v 1.2%e; Y/Y: 5.3% v 5.3%e
- (IL) Israel Mar CPI Forecast: 1.6% v 1.6% prior
- (IL) Israel Feb M1 Money Supply Y/Y: 16.6 v 15.8% prior
- (EU) ECB 80M borrowed in overnight loan facility vs. 20.0M prior; 27.5B parked in deposit facility vs. 36.8B prior - Daily Eurosystem Liquidity Conditions
- (FR) France Jan Current Account: -3.9B v -1.2B prior
- (IS) Iceland Central Bank (Sedlabanki) leaves 7-Day Lending Rate at 6.00% (11th straight pause in current tightening cycle)
- (UK) BOE voted 9-0 (unanimous) to leave Interest Rates unchanged at 0.50%
- (UK) BOE voted 9-0 (unanimous) to maintain Asset Purchase Target (APT) at 375B

- (UK) Feb Jobless Claims Change: -34.6K v -25.0Ke (16th straight month of improvement); Claimant Count Rate: 3.5% v 3.5%e (five-year low)
- (UK) Jan Average Weekly Earnings 3M/Y: 1.4% v 1.3%e; Weekly Earnings ex Bonus 3M/Y: 1.3% v 1.2%e
- (UK) Jan ILO Unemployment Rate: 7.2% v 7.2%e; Employment Change 3M/3M: 105K v +110Ke


Fixed Income:
- (IN) India sold total INR140B vs. INR140B indicated in 3-month and 12-month Bills

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
***Equities**
Indices [Stoxx50 -0.1%
, FTSE 100 -0.2% at 6,590, DAX +0.1% at 9,251, CAC-40 -0.2% at 4,306, IBEX-35 flat at 10,047, FTSE MIB -0.3% at 20,975, SMI +0.1% at 8,246, S&P 500 Futures +0.1% at 1,864]

- Market Focal Points: European equity markets open mixed as traders eye Fed decision and events related to Crimea, FTSE 100 weighed down amid ex dividends and declines in HSBC, Russian equities decline, Large Spanish retailer Inditex rises after earnings report, Upcoming earnings from FedEX, German companies continue to announce stock splits, Analysts continue to make positive comments on Banca Monte Paschi

By Sector
- Industrials
[HeidelbergCement HEI.DE -2.5% (dividend below ests)]
- Technology [Smiths Group SMIN.UK -4% (H1 sales below ests); Imagination Technologies IMG.UK +4% (broker commentary)]
- Consumer Discretionary [Metro MEO.DE -1% (confirms delay of Russian unit IPO); Inditex ITX.ES +2.5% (FY results in line), Peugeot UG.FR +1% (confirmed new Chairman)]
- Basic Resources/Materials [Anglo American AAL.UK -2% (ex dividend); Aurubis NDA.DE +4% (broker commentary), Wacker Chemie WCH.DE +4% (broker commentary)]
- Financials [HSBC HSBA.UK -0.9% (broker commentary); Eurazeo RF.FR +2% (reported a FY profit)]
- Healthcare [Bioalliance Pharma +12% (regulatory update)]
- Energy [Ophir Energy OPHR.UK -18% (unsuccessful drilling update)]
- Stoxx50 sectors [Telecom -0.5%, Basic Materials -0.5%, Utilities -0.4%, Financials -0.4%, Industrials -0.3%, Consumer Non-Cyclical -0.3%, Energy -0.2%, Technology -0.1%; Consumer Cyclical flat]

Speakers:
- BOE Minutes reiterated likely unemployment rate to hit 7% in coming months.
Market reaction to phase 2 forward guidance 'limited' Range of views on MPC over inflation outlook. Stronger GBP currency made more likely CPI below 2.5% in 18-24 months
- Sweden Finance Min Borg stated that he saw a slow recovery for global economy and not
a strong recovery in domestic economy. Growth to slow in coming years than what it had been historically in any recovery phase
- Ukraine acting defense Min stated that Ukrainian forces would not withdraw from Crimea. Ukraine military in Crimea is legal and to stay until a political decision (**Reminder: Reports circulated that Crimea defense forces (Russians) stormed the Ukrainian naval base on the Crimean peninsula)
- Japan BoJ gov Kuroda commented that the global economy was on the path to recovery but pace remained moderate. BOJ easing was steadily having the intended impact; moving smoothly towards the 2% inflation target. He reiterated view that sales tax increase would NOT interrupt its virtuous economic cycle
- Former BoJ member Muto commented that he saw BoJ easing between Apr and Sep (first half of next fiscal year). He noted that failure to raise the sales tax a second time in 2015 could hurt the JGB market. He saw a high chance of fiscal stimulus in 2014/15
- An unnamed China govt official commented that PBOC was alright with medium-term Yuan currency weakness and that a level of 6.30could be the possible limit. He added that a weak CNY currency or Fx outflows could prompt a RRR cut

Currencies/Fixed Income:
- FX markets were in a holding pattern ahead of the FOMC rate decision (first under the tenue of Chair Janel Yellen). Markets will focus whether the Fed amends its guidance due to the extreme US winter weather
- The EUR/USD remains hovering above the 1.39 handle. Any fresh doviness out of the Fed could send the pair above the 1.40 level with buy-stops building above 1.4050.
- The UK budget is also in focus and expected to be neutral in tone ahead of the May 2015 elections in Britain. The GBP was former aided by better UK employment and wage data in the session. GBP/USD at 1.6620 just ahead of the NY morning.

Political/In the Papers:
- (UK) BOE's Carney: Reiterates any changes in interest rates will be gradual and limited - comments in London
- (US) US Treasury Official: Unaware of any Russia govt moves to liquidate holdings of USTs
- (CA) Canada Fin Min Flaherty resigns from the cabinet; Informed PM Harper yesterday he plans to return to the private sector. Natural Resources Min Joe Oliver said to be the replacement
- (AU) According to one financial press survey, 12 out of 32 analysts expect RBA to start raising cash rates before the end of 2014; Only 6 expect another rate cut
-(CN) China's 7-day repo rate opened at 3.4%, up about 50bps
-USD/CNY: Onshore Yuan trading (CNY) through 6.2000 level, v prior close of 6.1920; Today's trading limit around 6.2570 level
-(JP) BOJ's Kiuchi: Doubling size of JGB purchases is technically feasible, but hurdle to any additional easing is high

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (SE) Sweden Central Bank Gov Ingves with Fin Min Borg at Affarsvarlden Bank & Finans Outlook
- (DE) German Chancellor Merkel with Portugal PM Coelho in Berlin
- 06:00 (EU) Euro Zone Jan Construction Output M/M: No est v 0.9% prior; Y/Y: No est v -0.2% prior
- 06:00 (EU) Euro Q4 Labour Costs Y/Y: No est v 1.0% prior
- 06:00 (CH) Swiss Mar Credit Suisse ZEW Survey Expectations: No est v 28.7 prior
- 06:00 (DE) German BDB Bank Lobby presents economic forecasts for 2014
- 06:00 (EU) Daily Euribor Fixing
- 06:00 (SE) Sweden to sell Bills
- 06:00 (EU) ECB allotment in 7-day USD Liquidity Tender at fixed % vs. $0.0M prior
- 06:30 (DE) Germany to sell 4.0B in 1.75% 2024 Bunds
- 06:30 (PT) Portugal Debt Agency (IGCP) to sell combined 2.25B in 6-month and 12-month Bills

- 07:00 (US) MBA Mortgage Applications w/e Mar 14th: No est v -2.1% prior
- 07:00 (PT) Portugal Feb PPI M/M: No est v -0.1% prior; Y/Y: No est v -1.4% prior
- 07:00 (IE) Ireland Jan Trade Balance: No est v 3.4B prior
- 07:00 (ZA) South Africa Jan Retail Sales M/M: -0.5%e v +1.4% prior; Y/Y: 2.8%e v 3.5% prior
- 07:00 (BR) Brazil Mar (2nd reading) IGP-M Inflation: 1.4%e v 0.2% first reading
- 07:00 (IT) Italy PM Renzi in Parliament on finances
- 07:15 (UR) EU Commissioner Rehn on Ukraine aid
- 07:45 (US) Daily Libor Fixing
- 08:00 (UK) Weekly PM Cameron question time in House of Commons
- 08:00 (RU) Russia canceled OFZ Bond auction
- 08:30 (US) Q4 Current Account Balance: -$88.0Be v -$94.8B prior
- 08:30 (CA) Canada Jan Wholesale Trade Sales M/M: +0.8%e v -1.4% prior
- 08:30 (UK) Chancellor Osborne announces Budget to Parliament
- 08:30 (UK) Office of Budget Responsibility (OBR) updates economic forecasts

- 09:00 (PL) Poland Feb Sold Industrial Output M/M: -1.0%e v +2.9% prior; Y/Y: 6.1%e v 4.1% prior
- 09:00 (PL) Poland Feb PPI M/M: 0.1%e v 0.1% prior; Y/Y: -1.1%e v -0.9% prior
- 10:30 (US) Weekly DOE Crude Oil Inventories
- 10:45 (UK) BOE to buy 1.35B in APT operation with residual maturity between 7-15 years
- 11:00 (FI) Finland Fin Min Urpilainen Speaks in Turku
- 11:00 (SE) Sweden Fin Min Borg with Riksbank Jochnick
- 11:00 (MX) Mexico Weekly International Reserves
- 11:00 (US) Fed to purchase $1.00-1.25B in Notes
- 11:30 (US) Treasury to sell 4-Week Bills
11:30 (BR) Brazil Weekly Currency Flows
- 12:00 (CA) Canada to sell 2-Year Bonds
- 13:45 (CH) SNB's Jordan on panel discussion in Bern -
- 14:00 (US) FOMC Interest Rate Decision: Expected to leave Interest Rate unchanged at 0.25% and continue pace of tapering
- Expected to cut QE3 Pace by $10B to $55B (Fed Pace of Treasury Purchases: $30Be v $35B prior; Fed Pace of MBS Purchases: $25B v $30 prior
- 14:30 (US) Fed Chair Yellen holds post rate decision press conference
- 15:10 (SE) Sweden Central Bank (Riksbank) Jochnick
- 17:45 (NZ) New Zealand Q4 GDP Q/Q: 0.9%e v 1.4% prior; Y/Y: 3.1%e v 3.5% 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