User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday October 22, 2014 - 11:07:17 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: BOE minutes shows vote remained the same but contents a tad more 'dovish'; speculation that 11 banks failed ECB stress test


Wed, 22 Oct 2014 5:19 AM EST

***Notes/Observations***
- Japan Sept Trade Balance showed a wider deficit by improving components (-958B vs. -780.0Be
- Australia Q3 CPI keeps dis-inflation theme on front burner; data roughly in line (Y/Y: 2.3% v 2.3%e) but well below the 3.0% annual rate registered in Q2; likely to keep RBA on hold for the foreseeable future
- Bank of England Minutes yield no surprises with interest rate vote again at 7-2 to keep policy steady; contents appeared more dovish and weigh on GBP currency

***Key Economic Data in session***
- (ZA) South Africa Sept CPI M/M: 0.0% v 0.2%e; Y/Y: 5.9% v 6.1%e (1st time in 6 months the annual reading was back within SARB target range)
- (UK) Bank of England (BOE) voted 7-2 to leave Interest Rates unchanged at 0.50% (3rd straight month)
- (UK) BOE voted 9-0 to maintain Asset Purchase Target (APT) at 375B

Fixed Income:
- No major issuance in session

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
**Equities***
Indices [Stoxx50 -0.3%, FTSE 100 -0.2% at 6,359, DAX flat at 8,887, CAC-40 -0.1% at 4,077, IBEX-35 -0.3% at 10,119, FTSE MIB -0.3% at 19,008, SMI +0.1% at 8,412, S&P 500 Futures -0.3% at 1,932]

- Market Focal Points/Key Themes: Equity markets open slightly higher following recent gains in US equities, Markets later pare gains amid rise in core government bonds, ECB's Coene plays down speculation related to corporate bond purchases, Mixed corporate reports (Bic below ests, ABB net profit beats, Peugeot sales above ests, British American Tobacco sales below ests, Heineken sales below ests), US morning earnings (Boeing, EMC, Dow Chemical, Glaxo, Biogen), Prelim Oct PMI on Thursday from France and Germany

By Sector
- Industrials
[ABB ABBN.CH +2% (Q3 Net profit above ests), Peugeot UG.FR flat (Q3 sales above ests)]
- Consumer Discretionary [Bic BB.FR -7% (Q3 sales below ests), British American Tobacco BATS.UK -4% (9-month sales below ests), Home Retail HOME.UK -3% (strategic update), Heineken HEIA.NL -2% (Q3 sales below ests)]
- Healthcare [Bavarian Nordic BAVA.DK +20% (Ebola agreement with J&J), GW Pharmaceuticals GWP.UK +4% (FDA orphan drug designation)]
- Basic Materials/Resources [Petropavlovsk POG.UK +2% (Q3 gold output +2% q/q); Yara International YAR.NO -1.5% (Q3 profits below ests)]
- Technology [Melexis MELE.BE +8% (upbeat outlook), Playtech PTEC.UK +4% (upbeat outlook)]
- Stoxx50 sectors [Energy -1%,Technology -0.6%, Financials -0.6%, Consumer Non-Cyclical -0.5%, Utilities -0.4%, Telecom -0.4%, Industrials -0.3%, Basic Materials -0.3%; Consumer Cyclical +0.2%]

***Speakers***
- Bank of England Minutes came in at 7-2 for the third straight month
; Members Weale and McCafferty again voted for 25bps rate hike. The Majority reiterated their view that an early rate hike might make economy more vulnerable to shocks.
- ECB's Coene (Belgium): Too early to say on more ECB measures; have no concrete plans for corporate bond buying
- EU Commission President-elect Juncker planning to submit investment plan before Christmas and noted that EU budget rules would not be changed but to have a degree of flexibility
- Reports circulated that at least 11 banks from six different countries to fail Euro Zone stress tests (**Note: results due on Sunday Oct 26th)
- ECB decline to comment on number of banks that have been said to fail the stress tests but stated any inference was hightly speculative
- Russia Energy Min Novak: Longer term oil price should return to a range between $90-110 per barrel. To maintain Russia annual oil production at 525M tons

Currencies/Fixed Income:
- Dealers continued to debate the ECB and the potential for further action. Speculation has intensified with ECB extending its covered bond purchasing program into the corporate bond market. The EUR/USD was slightly softer in the session and at 1-week lows at 1.2680 area. On Tuesday respected fund manager (Appaloosa's David Tepper) reportedly recommended shorting the euro currency
- Bank of England Minutes was identical to the prior two months. Some speculation that they could be dovish was brushed off as MCP would not have seen the latest inflation data (Sept CPI) at the time of the meeting. Nonetheless, the GBP currency maintained a soft tone as the contents of the majority within the minutes were considered 'dovish'. The GBP/USD pair was at 1.6030 just ahead of the NY morning

Political/In the Papers:
-(EU) European Commission said to tell 5 euro zone member states that their budget plans will be in breach of rules, including France and Italy
- (PT) Fitch: Portugal's 2015 budget targets are under pressure from weaker economic growth, see risk of fiscal slippage from cyclical adjustments
- S&P report: Germany stimulus package would have limited effect on the rest of the Euro Zone
- (UR) EU's Oettinger: Progress was made in gas pricing talks between Russia and Ukraine, final meeting to take place on Wednesday, Oct 29th

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- 05:30 (DE) Germany to sell 2.0B in 2.5% 2046 Bunds
- 06:00 (EU) EU Parliament votes on new Commissioners
- 06:00 (IL) Israel Sept Trade Balance: No est v -$1.8B prior
- 06:00 (IE) Ireland Sept Property Prices M/M: No est v 2.3% prior; Y/Y: No est v 14.9% prior
- 06:45 (US) Daily Libor Fixing
- 07:00 (RU) Russia cancelled planned OFZ Bond auction
- 07:00 (US) MBA Mortgage Applications w/e Oct 17th: No est v +5.6% prior
- 07:00 (UK) Prime Minister's Question Time in House of Commons
- 07:30 (CL) Chile Central Bank's Traders Survey
- 08:15 (US) Baltic Dry Bulk Index
- 08:30 (US) Sept CPI M/M: 0.0%e v -0.2% prior; Y/Y: 1.6%e v 1.7% prior
- 08:30 (US) Sept CPI Ex Food and Energy M/M: 0.2%e v 0.0% prior; Y/Y: 1.8%e v 1.7% prior

- 08:30 (US) Sept CPI NSA: 238.120e v 237.852 prior; CPI Core Index: No est v 238.345 prior
- 08:30 (CA) Canada Aug Retail Sales M/M: 0.0%e v -0.1% prior; Retail Sales Ex Auto M/M: +0.2%e v -0.6% prior
- 09:00 (MX) Mexico Aug Retail Sales Y/Y: 2.7%e v 2.0% prior
- 10:00 (CA) Bank of Canada (BOC) Interest Rate Decision: Expected to leave Interest Rates unchanged at 1.00%
- 10:00 (PT) ECB's Costa (Portugal) speaks on Portuguese Economy at Conference
- 10:00 (PT) Bank of Portugal Dep Gov Neves
- 10:30 (BR) Brazil Weekly Currency Flows
- 10:30 (US) Weekly DOE Crude Oil Inventories
- 11:30 (CA) Bank of Canada (BOC) Monetary Policy Report
- 12:15 (ES) ECB's Linde (Spain) in Madrid
- 15:00 (UK) BOE's Weale at event in Cambridge
- 15:00 (AR) Argentina Sept Trade Balance: No est v $899M prior
- 17:00 (AU) RBA's Stevens speech At Payments Conference
- 21:35 (JP) Japan Manufacturing PMI: 52.0e v 51.7 prior
- 21:45 (CN) China HSBC Manufacturing PMI: 50.2e v 50.2 prior

- (AR) Argentina Oct Consumer Confidence Index: No est v 41.5 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