User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday June 3, 2014 - 09:58:43 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: Euro Zone flash CPI matches a 4-year low bit not as bad as feared; EMU unemployment continues its improving trend


Tue, 03 Jun 2014 5:22 AM EST

***Notes/Observations***
- China PMI at multi-month highs May Non-Manufacturing PMI at a 4-month high (55.5 vs. 54.8 prior); May HSBC PMI Manufacturing at a 5-month high (49.4 vs 49.7e)
- RBA leaves Cash Target Rate steady at 2.50% (as expected)
- India RBI leaves key rates steady (as expected) but cuts Banks' Statutory Liquidity Ratio (SLR) from 23.0% of deposits to 22.5%
- Preliminary Eurozone inflation matches a 4-year low at 0.5% but not a bad as feared
- Apr EMU unemployment numbers continued its improvement trend; best level since Oct 2012


***Economic Data***
- (AU) Australia Central Bank (RBA) left Cash Rate Target unchanged at 2.50%, as expected

- (IE) Ireland May Manufacturing PMI: 55.0 v 56.1 prior; 12th straight month of expansion
- (IN) India Central Bank (RBI) left all Key Rates unchanged (as expected) Repurchase Rate unchanged at 8.00 but cut Banks' Statutory Liquidity Ratio (SLR) by 50bps to 22.5%
- (UK) May Nationwide House Prices M/M: 0.7% v 0.6%e; Y/Y: 11.1% v 10.9%e
- (ES) Spain May Net Unemployment M/M: -111.9K v -112.5Me
- (TR) Turkey May CPI M/M: 0.4% v 0.7%e; Y/Y: 9.7% v 9.9%e; CPI Core Index Y/Y: 9.8% v 9.8%e
- (TR) Turkey May PPI M/M: -0.5% v +0.1% prior; Y/Y: 11.3% v 13.0% prior
- (EU) ECB 2.0M borrowed in overnight loan facility vs. 64.0M prior; 30.7B parked in deposit facility vs. 39.9B prior - Daily Eurosystem Liquidity Conditions
- (SE) Sweden Q1 Current Account Balance (SEK): 61.4B v 55.1B prior
- (IT) Italy Apr Preliminary Unemployment Rate: 12.6% v 12.8%e
- (IT) Italy Q1 Quarterly Unemployment Rate: 12.7% v 12.7%e
- (NO) Norway May Unemployment Rate: 2.7% v 2.6%e
- (BR) Brazil May Monthly FIPE CPI: 0.3% v 0.3%e
- (HK) Hong Kong Apr Retail Sales Value Y/Y: -9.8% v -4.4%e; Retail Sales Volume Y/Y: -9.5% v -4.1%e
- (UK) May Construction PMI: 60.0 v 61.0e; lowest since Oct 2013
- (EU) Euro Zone Apr Unemployment Rate: 11.7% v 11.8%e; lowest since Oct 2012
- (EU) Euro Zone May Advance CPI Estimate Y/Y: 0.5% v 0.6%e (matches 4-year low); CPI Core Y/Y: 0.8% v0.9%e

- (BE) Belgium Apr Unemployment Rate: 8.5% v 8.5% prior

Fixed Income:
- (DK) Denmark sold total DKK6.6B in 2023 and 2025 Bonds
- (ZA) South Africa sold total ZAR2.35B in 2023, 2030 and 2048 bonds
- (EU) ECB allotted 149.4B in 7-Day Main Refinancing Tender at fixed 0.25% vs. 145.0Be


*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
***Equities***
Indices [Stoxx50 flat,
FTSE 100 -0.4% at 6,840, DAX -0.2% at 9,930, CAC-40 -0.1% at 4,511. IBEX-35 flat at 10,822, FTSE MIB -0.3% at 21,733, SMI -0.1% at 8,678, S&P 500 Futures -0.1% at 1,919]

- Market Focal Points/Key Themes: Equity markets open mixed amid cautious trading ahead of Thursday's ECB meeting, Banks continue to trade mixed, UK homebuilders trade lower amid speculation that the government will seek to slow property market

By Sector
- Consumer Discretionary
[Punch Taverns PUB.UK +4% (asset sales), Wolseley WOS.UK +2.5% (Q3 LFL sales +5.1%), DIA DIA.ES +1.5% (interest related to French unit); Heineken HEIA.NL -1% (broker commentary)]
- Consumer Staples [Danone BN.FR -0.5% (broker commentary)]
- Basic Materials/Resources [London Mining LOND.UK -8% (Ebola concerns in Sierra Leone), Kloeckner KCO.DE -2% (broker commentary)]
- Healthcare [Epigenomics ECX.DE -38% (FDA commentary)]
- Energy [Bowleven BLVN.UK +11% (production milestone in Cameroon)]
- Stoxx50 Sectors [Utilities +1%, Energy +0.1%, Telecom flat, Consumer Cyclical flat, technology flat; Industrials flat; Consumer Non-Cyclical -0.4%, Financials -0.3%, Basic Materials -0.3%]

Speakers:
- Spain PM Rajoy
stated that the Cabinet to approve pro-growth plan this week and it would not impact the budget. He also noted that tax reform to be passed in June. Spain banking system is solvent; lending continued to recover. Economy was creating jobs at a moderate pace
- Spain Fin Min de Guindos reiterated the view that recovery continues to strengthen in Q2 (seen similar to Q1). To cut 2014 Net Issuance target to 55.0B
- Italy Business Lobby Confindustria stated that it saw May Industrial Output +0.2% m/m
- Sweden Central Bank (Riksbank) First Deputy Gov Jochnick commented that high domestic Households debt levels made the country sensitive to crisis and unemployment. Household debt was at a high level and must act in time on the issue. Govt needed to create better private debt development as currently it was not sustainable in the long-term. Needed to encourage mortgage amortization
- India Central Bank (RBI) stated in its rate decision that further policy tightening will not be warranted if economy remained on a disinflationary course. Might ease policy should inflation slow faster than forecast
- Australia Central Bank (RBA) stated in its rate decision that monetary policy remained accommodative and most prudent course was likely to be a period of stability in interest rates. The AUD currency remained high by historical standards
- Japan LDP Tax Panel: Cut in corporate tax rate should be revenue neutral
- Gazprom [GAZP.RU] stated that Ukraine had not paid for 9.84B CM of gas supplies. Exec saw European market share staying at 30% to 2020 and at 32% by 2030
- German govt official: G7 Summit could agree to develop an energy strategy
- White House aide: US President Obama ask Congress to support the 'European Reassurance Initiative' by giving up to $1B for increased US military rotations in Europe

Currencies/Fixed Income:
- The EUR/USD could not hit fresh 3-year lows as May CPI flash estimate was not a bad as feared.
The pair regained a foothold above the 1.36 level despite the headline CPI reading matching a 4-year low at 0.5%. Dealers had fear that inflation might decelerate even faster given the recent German and peripheral readings.
- The AUD currency was a touch firmer in early European trading after the RBA's decision to leave the official cash unchanged at 2.5%. Markets had factored in a small chance of a rate cut. The currency also benefited from signs that China's economy was stabilizing.

Political/In the Weekend Papers:
-(EU) EU Commission ended disciplinary budget action against Austria, Belgium, Denmark, Netherlands, Slovakia and Czech Republic; Italy needed more cuts to comply with EU budget rules in 2014; France needed to correct its deficit by 2015.
-(UK) UK homebuilders said to meet with officials Cable and Osborne - press; To discuss issues including the bottleneck in the supply of new housing stock.
-(JP) Japan BOJ Gov Kuroda: Expects Japan inflation to reach 2% around FY15; Too early to talk about QQE exit plan - addressing parliament

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (EU) NATO Defense Ministers begin 2-day meeting in Brussels
- (PL) Poland Central Bank Interest Rate Decision: expected to leave Base Rate unchanged at 2.50%
- 05:30 (BE) Belgium Debt Agency to sell up to 2.0B in 3-Month and 6-Month Bills
- 05:30 (HU) Hungary Debt Agency (AKK) to sell 3-Month Bills
- 05:30 (UK) DMO to sell 4.0B in 1.75% 2019 Gilts

- 06:00 (TR) Turkey to sell 2016 and 2021 bonds
- 06:30 (EU) ESM to sell 1.5B in 3-month Bills
- 06:45 (US) Daily Libor Fixing
- 07:00 (EU) ECB allotment in 7-day Term Deposit Tender to offset govt bond purchases under SMP; expected to drain
- 07:00 (RU) Russia announces specific bonds to sell in upcoming auction (Wed)
- 07:45 (US) Weekly ICSC Chain Store Sales
- 07:45 (PT) Portugal Fin Min Albuquerque
- 08:15 Baltic Dry Bulk Index
- 08:55 (US) Weekly Redbook Retail Sales
- 09:00 (BE) Belgium Q1 Final GDP Q/Q: No est v 0.4% prelim; Y/Y: No est v 1.2% prelim
- 09:00 (EU) Weekly ECB Forex Reserves:
- 09:00 (IT) Italy Fin Min Padoan
- 09:30 (SG) Singapore May Purchasing Managers Index: 51.3e v 51.1 prior; Electronics Sector Index: 50.8e v 50.4 prior
- 09:45 (US) May ISM New York: No est v 50.6 prior
- 10:00 (US) Apr Factory Orders: 0.5%e v 0.9% prior (revised from 1.1%)
- 10:00 (US) Durable goods revisions
- 10:00 (US) Jun IBD/TIPP Economic Optimism: 46.8e v 45.8 prior
- 10:00 (DK) Denmark May Foreign Reserves (DKK): No est v 438.3 prior
- 10:00 (BR) Brazil Apr CNI Capacity Utilization: No est v 80.9% prior
- 10:00 (MX) Mexico Central Bank Economist Survey
- 10:00 (MX) Mexico Weekly International Reserves
- 10:00 (PL) Poland Central Bank Gov Belka post rate decision press conference
- 10:30 (CA) Canada to sell 3-month, 6-month and 12-month Bills
- 10:30 (UK) DMO to announce size of upcoming 2.75% in 2024 and 0.125% I/L 2019 Gilt
- 11:00 (BR) Brazil to sell I/L 2019, 2023, 2030, 2040 and 2050 bonds
- 11:30 (US) Treasury to sell 4-Week Bills
- 11:30 (US) Treasury to sell 14-Day Cash Management Bills
- 11:30 (NO) Norway Central Bank Gov Olsen in Oslo
- 12:00 (IT) Italy May New Car Registration Y/Y: No est v 1.9% prior
- 12:00 (IS) Iceland Q1 Current Account Balance: No est v 11B prior
- 13:50 (US) Fed's George in CO
- 16:30 (US) API Weekly Oil Inventories
- 21:30 (AU) Australia Q1 GDP Q/Q: 0.9%e v 0.8% prior; Y/Y: 3.1%e v 2.8% prior
- 21:35 (JP) Japan May Services PMI: No est v 46.4 prior
- (US) May Domestic Vehicle Sales: 12.60Me v 12.65M prior; Total Vehicle Sales: 16.00Me v 15.98Mprior

- (US) Alabama holds Primary Elections
- (US) California holds Primary Elections
- (US) Iowa holds Primary Elections
- (US) Mississippi holds Primary Elections
- (US) Montana holds Primary Elections
- (US) New Jersey holds Primary Elections
- (US) New Mexico holds Primary Elections
- (US) South Dakota holds Primary Elections

 

 

 

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