User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday June 18, 2014 - 10:24:31 GMT
Trade the News Staff -

Share This Story:
| | Email EU Market Update: No surprises in BOE minutes; Iraq's Baiji refinery falls into ISIS militants hands

Wed, 18 Jun 2014 5:11 AM EST

- Japan May Trade Balance: -909.0B vs. -1.19Te with both exports and imports declining
- Bank of Japan (BOJ) May 20-21 meeting minutes had all members agree on the expected impact of the recent sales tax hike (Economy was recovering moderately)
- China May New Home Price rise slows with MoM increases seen in only 15 cities vs. 44 prior
-Senior Sunni and Shi'ite political leaders release joint statement calling for national unity
- Iraq's Baiji refinery falls into ISIS militants hands
- BOE minutes again unanimous in both interest rates and Asset Purchase Target (APT) votes; echoes Carney's Mansion House speech from last week

***Economic Data***
- (JP) Japan May Nationwide Dept Sales Y/Y: -4.2% v -12.0% prior; Tokyo Dept Store Sales Y/Y: -4.3% v -10.8% prior
- (SE) Sweden Jun Consumer Confidence: 101.3 v 101.3e; Manufacturing Confidence: 99.8 v 98.9e; Economic Tendency Survey: 101.0 v 101.6e
- (EU) ECB 62M borrowed in overnight loan facility vs. 3.0M prior; 15.8B parked in deposit facility vs. 14.8B prior - Daily Eurosystem Liquidity Conditions
- (TH) Thailand Central Bank (BoT) left its Benchmark Interest Rate unchanged at 2.00%, as expected
- (ZA) South Africa Q1 Current Account Balance (ZAR): -161B v -214Be; Current Account to GDP ratio: -4.5% v -6.0%e
- (ZA) South Africa CPI M/M: 0.2% v 0.1%e; Y/Y: 6.6% v 6.5%e
- (ZA) South Africa CPI Core M/M: 0.1% v 0.2%e; Y/Y: 5.5% v 5.6%e
- (ES) Spain Apr Bad Loan Ratio: 13.4% v 13.4% prior
- (UK) Bank of England (BOE) Minutes: Votes for both interest rates and Asset Purchase Target (APT) were unanimous (9 to 0)
- (EU) Euro Zone Apr Construction Output M/M: +0.8% v -0.3% prior; Y/Y: 8.0% v 6.4% prior
- (CH) Swiss Jun Credit Suisse ZEW Expectations Survey: 4.8 v 7.4 prior

Fixed Income:
- (CY) Cyprus opened its books to sell Euro-denominated 5-year bond; yield guidance seen at 4.90%
- (ES) Spain Debt Agency (Tesoro) sold total 3.08B vs. 2.0-3.0B indicated range in 2017 and 2019 bonds
- Sold 1.53B in 2.1% Apr 2017 Bono; Avg Yield: 0.876% v 0.968% prior; Bid-to-cover: 2.05x v 2.0x prior; Maximum Yield: 0.893% v 0.987% prior; Tail: 1.7bps v 1.9bps prior
- Sold 1.55B in 4.60% July 2019 Bono; Avg Yield 1.402% v 4.669% prior; Bid-to-cover: 2.32x v 2.47x prior; Max Yield 1.412% v 4.729% prior; Tail 1.0bps v 6.0bps prior
- (EU) ECB allotted $0.0M in 7-day USD Liquidity Tender at fixed 0.60% vs. $0.0M prior
- (SE) Sweden sold total SEK3.5B in 2020 and 2039 bonds

Indices [Stoxx50 +0.3%
, FTSE 100 +0.4% at 6,791, DAX +0.3% at 9,951, CAC-40 +0.2% at 4,548, IBEX-35 +0.6% at 11,119, FTSE MIB +0.4% at 22,078, SMI +0.3% at 8,690, S&P 500 Futures flat at 1,934]

- Market Focal Points/Key Themes: Equity markets open higher following positive leads from Tokyo, Gains amid rise in oil prices and ahead of Fed decision, UK homebuilder Berkeley Group declines despite rise in FY profits, Cellectis rises sharply on deal with Pfizer , Premier Foods warns on sales outlook, H&M reports inline Q2 profits,

By Sector
- Industrials
[Rheinmetall RHM.DE +3% (speculation related to order); Zodiac ZC.FR -2% (Q3 sales in line)]
- Healthcare [Cellectis ALCLS.FR +50% (agreement with Pfizer)]
- Consumer Discretionary [Premier Foods PFD.UK -5% (cut sales forecast), Mediaset MS.IT +2% (asset sale)]
Stoxx50 sectors [Utilities +0.7%, Technology +0.6%, Energy +0.5%, Financials +0.4%, Consumer Non-Cyclical +0.3%,Telecom +0.2%, Consumer Cyclical +0.2%, Industrials +0.1%, Basic Materials flat]

- BOE minutes noted that the low probability markets put on 2014 rate hike was'surprising'.
For some MPC hike decision was more balanced than early 2014 and reiterated the view that it could be argued earlier start meant more gradual hikes. Gradual hike case strengthened by uncertain impact and MPC agreed more spare capacity should be used up pre-hike and premature tightening could see sizeable lost output.
- South Africa Deputy President Ramaphosa stated that the govt was very concerned about low growth and noted that energy shortages was a headwind to growth
- Sweden's NIER think tank updated its economic forecasts which cut the GDP growth outlook, inflation forecast and rate views for 2014 and 2015 period
- Finland Finance Ministry updated its forecasts for Economy which cut its 2014 GDP growth from 0.5% to 0.2% but raised 2016 growth to 1.6%
- South Africa Central Bank (SARB) stated that Inflation pressure increased in recent months with CPI trajectory uncomfortably close to upper target
- Thailand Central Bank rate statement noted that interest rates remained supportive of growth but it would to act if necessary as it saw risks from slow recovery in both tourism and exports. It saw inflation picking up in H2 but was not a concern yet and that the THB currency (Baht) was still suitable for business and for economic recovery. It again cut its 2014 GDP forecast from 2.7% to 1.5% (**Note 5th in its forecast cut since last Oct)
- Ukraine planning unilateral ceasefire in coming days
- Iraq's Baiji refinery attacked by Sunni militants with mortars and machine guns with reports that the refinery tank now on fire. Later reports noted that ISI militants were in control of the facility
- Saudi Arabia Foreign Min stated that the situation in Iraq was showing signs of a civil war. Syria situation seemed to have helped deepen internal disturbances in Iraq but the Kingdom rejected outside interference in the region's conflicts

Currencies/Fixed Income:
- The BOE minutes were the highlight in an otherwise quiet FX market.
The minutes were again unanimous (9-0) in keeping both interest rates and Asset Purchase Target (APT) steady. The GBP/USD briefly tested above 1.70 as the BOE noted that the low probability markets placed on 2014 rate hike was somewhat 'surprising' but its gave back the initial gains as the comments were in-line with Gov carney's Mansion House address from last week.

Political/In the Papers:
- (DE) Interior Min de Maiziere: Does not rule out possibility of 4th term for German Chancellor Merkel - German press interview; Too early to determine whether she will seek another term.
- (IT) IMF issues commentary on Italy; finds the economy is struggling to emerge from the recession; headwinds remain for investment in Italy; calls on banks to increase the speed of the write offs of bad loans
- (CN) PBoC may create new tool Pledged Supplementary Lending (PSL) to manage medium-term rates - financial press
-USD/CNY: (CN) PBoC Chief Economist Ma Jun: CNY close to equilibrium level with current account surplus close to normal - Chinese press
- (JP) BOJ held 20.1% of JGBs in Mar, largest holder of JGBs for the period - financial press; Japan's public pension funds (including GPIF) sold a net of 1.8T in JGBs in Q1.

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (IR) Iran, World Powers continue Nuclear Talks in Vienna
- (RU) Russia to sell RUB10B in 2019 OFZ bonds
- 05:30 (DE) Germany to sell 5.0B in new 1.5% 2024 Bunds
- 05:30 (HU) Hungary to hold Bonds switch-auctions
- 05:30 (PT) Portugal Debt Agency (IGCP) to sell 3-month and 12-month Bills (May 21st 2014)
- 06:00 (PT) Portugal May PPI M/M: No est v 0.1% prior; Y/Y: No est v -0.6% prior
- 06:45 (US) Daily Libor Fixing
- 07:00 (US) MBA Mortgage Applications w/e Jun 13th: No est v +10.3% prior
- 07:00 (BR) Brazil Jun IGP-M Inflation (2nd Preview): -0.6%e v -0.0% prior
- 07:00 (ZA) South Africa Apr Retail Sales M/M: 0.0%e v -1.4% prior; Y/Y: 1.7%e v 1.0% prior
- 07:00 (UK) Weekly PM Cameron question time in House of Commons
- 07:15 (UK) BOE's Weale in Belfast
- 08:00 (PL) Poland May Sold Industrial Output M/M: +0.4%e v -2.3% prior; Y/Y: 5.9%e v 5.4% prior
- 08:00 (PL) Poland May PPI M/M: 0.1%e v -0.1% prior; Y/Y: -0.7%e v -0.7% prior
- 08:00 (BR) Brazil Jun IBGE Inflation IPCA-15 M/M: 0.4%e v 0.6% prior; Y/Y: 6.4%e v 6.3% prior
- 08:15 Baltic Dry Bulk Index
- 08:30 (US) Q1 Current Account Balance: -$97.0Be v -$81.1B prior
- 08:30 (CA) Canada Apr Wholesale Trade Sales M/M: +0.5%e v -0.4% prior
- 08:30 (US) BEA Current Account Revisions
- 09:45 (UK) BOE nominee Forbes appointment hearing
- 10:30 (US) Weekly DOE Crude Oil Inventories
- 11:00 (BR) Brazil to sell 2015, 2016 and 2018 Bills
- 11:30 (BR) Brazil weekly Currency Flows
- 12:00 (CA) Canada to sell 2-Year Bonds
- 13:30 (UK) BOE's Haldane in Scarborough
- 13:45 (US) Former Fed Chairman Bernanke speaks in Zurich
- 14:00 (US) FOMC Interest Rate Decision: Expected to leave Interest Rates unchanged at 0.25% and reduce QE3 by $10B to $35B
- 14:30 (US) Fed Chair Yellen post rate decision press conference

- 17:00 (KR) South Korea May PPI Y/Y: % v -0.3% prior
- 21:30 (JP) BOJ Board Member Morimoto speaks in Akita




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."

Actionable trading levels delivered to YOUR charts in real-time.

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 15 Oct 2018
AA 12:30 US- Retail Sales
Tue 16 Oct 2018
AA 08:30 GB- Employment
A 09:00 DE- ZEW Survey
A 13:15 US- Industrial Production
Wed 17 Oct 2018
AA 08:30 GB- CPI
A 09:00 EZ- Final HICP
A 12:30 US- Housing Starts/Permits
A 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
AA 18:00 US- Fed Policy Minutes
Thu 18 Oct 2018
A 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 12:30 US- Weekly Jobless
Fri 19 OCt 2018
AA 12:30 CA- CPI/ Retail Sales

John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105