User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday October 31, 2014 - 10:23:21 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: Monetary policy divergence intensifies as BOJ eases further


Fri, 31 Oct 2014 5:25 AM EST

***Notes/Observations***
- Risk appetite gets a little help from central banks
- Japan BOJ unexpectedly eased its policy further; sends Niikei225 Index to 7 year high and yen to 7-year lows
- World largest pension fund Japan GPIF formally announces changes to its allocation model panel approved target allocation changes; to increase domestic stocks to 25% from 12%; raise foreign stocks to 25%; cut domestic bonds to 35% and foreign bonds 15%

***Key Economic Data in session***
- (JP) Japan Sept Annualized Housing Starts: 880K v 848Ke; Y/Y:14.3% v -17.2%e; Construction Orders Y/Y: -40.3 v 8.6% prior
- (RU) Russia Oct Manufacturing PMI: 50.3 v 50.0e (4th straight month of expansion)
- (DE) Germany Sept Retail Sales M/M: -3.2% v -0.9%e; Y/Y: 2.3% v 1.2%e
- (FR) France Sept Consumer Spending M/M: -0.8% v -0.3%e; Y/Y: 0.2% v 0.9%e
- (FR) France Sept PPI M/M: +0.5% v -0.1%e; Y/Y: -1.4% v -1.7%e
- (TR) Turkey Sept Trade Balance: -$6.9B v -$7.1Be
- (IT) Italy Sept Preliminary Unemployment Rate: 12.6% v 12.4%e
- (NO) Norway Oct Unemployment Rate: 2.7% v 2.6%e
- (NO) Norway Sept Credit Indicator Growth Y/Y: 5.3% v 5.3%e

Fixed Income:
- None seen

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
**Equities**
Indices [Stoxx50 +1.6%,
FTSE 100 +1.1% at 6,537, DAX +1.5% at 9,260, CAC-40 +1.9% at 4,219, FTSE MIB +1.5% at 19,494, SMI +1.1% at 8,814, S&P 500 Futures +1.1% at 2,010]

- Market Focal Points/Key Themes: Equity markets open sharply higher on easing measures by the Bank of Japan (BoJ), S&P 500 Futures test prior record high, BNP rises on better than expected results, Anheuser-Busch InBev weighed down by weaker than expected results, RBS confirmed that Q3 results were above expectations, UK banks in focus ahead of BoE comments on banking supervision, Upcoming Eurozone Oct advance CPI, US morning earnings (Hilton, AON, Legg Mason, Oshkosh, AbbVie, Exxon, Chevron, Clorox)

By Sector
- Financials
[BNP BNP.FR +1.5% (Q3 results above ests), RBS.UK +1.5% (Q3 results above ests)]
- Consumer Discretionary [International Consolidated Airlines IAG.UK +2.5% (raised outlook), WPP WPP.UK flat (Q3 sales above ests, cautious outlook); SuperGroup SGP.UK -10% (cautious outlook), Anheuser-Busch InBev ABI.BE -2.5% (Q3 results below ests)]
- Industrials [Nokian Tyres NRE1V.FI -4% (Q3 results below ests)]
- Basic Materials/Resources [Lonza LONN.CH -5% (cut sales forecast)]
- Stoxx50 sectors [Energy +1.6%, Utilities +1.6%, Industrials +1.5%, Telecom +1.4%, Basic Materials +1.4%, Consumer Cyclical +1.3%, Technology +1.3%, Financials +1.3%, Consumer Non-Cyclical +1%]

***Speakers***
- BOJ eased its monetary policy further and expanded its monetary base from 60-70T range to 80T in a close 5-4 vote.
The central bank also announced a tripling in its purchases of exchanged-traded funds (ETFs) and real estate investment trusts (REITs). It also and extended the average duration of JGB purchases to 7-10years from 6-8years
- BOJ Gov Kuroda post rate decision press conference stated that today's expanded easing to would help it ensure to reach its 2%inflation target and saw room for more policy action if needed. Easing aimed at ending the deflationary mindset and it saw a risk of delay in changing this mindset. He saw no need to change the 2% in two year time. He conceded that the impact of the April sales tax increase had been somewhat prolonged. Reiterated BOJ action was not targeting the JPY currency (yen) exchange rate and that a weak yen had been a positive to Japan overall. Impact from weak yen on higher import costs being offset by decline in oil and commodity prices to a degree
- Japan BOJ Semi-annual outlook on economic activity cut its FY14/15 Real GDP from 1.0% to 0.5% (**below 0.6% speculated earlier) and lowered its core CPI views for the next two fiscal years
- World largest pension fund Japan GPIF formally announced changes to its allocation model it would increase domestic stocks to 25% from 12%; raise foreign stocks to 25%; cut domestic bonds to 35% and foreign bonds 15%. It did not comment on timing of changes as it had yet to be decided
- Japan Econ Min Amari: PM Abe would order fiscal stimulus if found to be necessary
- ECB's Nowotny (Austria) Never say never when asked about QE
- Turkey Central Bank Gov Basci Quarterly Inflation Report: To ontinue tight monetary policy stance. Earlier jump in core inflation mostly reversed in Q3but food inflation the reason for higher CPI. He foresaw a decline in CPI in 2015 aided by declines in oil, food prices and end of TRY currency weakness

Currencies/Fixed Income:
- Policy divergence among the G3 central banks has kept the USD on a firm tone. The surprise additional easing from the BOJ sent the USD/JPY above the 111.50 for a 7-year high. The BoJ shocked markets with expansion in annual asset purchases from 50B to 80B coupled with tripling in its purchases of exchanged-traded funds (ETFs) and real estate investment trusts (REITs).
The USD strength exerted itself into the other major pairs. EUR/USD hovered around the 1.2550 area ahead of key EU employment and inflation data due out later in the session. The recent data out of Europe during the week indicated that deflation threat still lingered. Even ECB hawk Nowotny commented that never say never when asked about QE
- Spot gold finally mustered the momentum to break below the $1,180 level to hit a 4-year low

Political/In the Papers:
- (GR) IMF: Discussions with Greece continue on potential aid; Greece may need precautionary support
- (UR) Ukraine, Russia and EU reached a gas supply agreement
- (CN) PBoC Dep Gov Yi Gang (also head of FX regulator SAFE): Bad debt at China major banks is mounting

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 4 hours for GMT equivalent)
- (NO) Norway Sovereign Debt Rating published by S&P, Fitch
- (NL) Netherlands Sovereign Debt Rating might be published by Moody's
- 05:30 (ZA) South Africa to sell I/L 2022, 2025 and 2038 Bonds
- 06:00 (EU) Euro Zone Sept Unemployment Rate: 11.5%e v 11.5% prior
- 06:00 (EU) Euro Zone Oct Advance (Flash) CPI Estimate Y/Y: 0.4%e v 0.3% prior; CPI Core Y/Y: 0.8%e v 0.8% prior

- 06:00 (IT) Italy Oct Preliminary CPI NIC incl. tobacco M/M: -0.1%e v -0.4% prior; Y/Y: -0.1%e v -0.2% prior
- 06:00 (IT) Italy Oct Preliminary CPI EU Harmonized M/M: -0.1%e v +1.9% prior; Y/Y: -0.1%e v -0.1% prior
- 06:00 (BE) Belgium Sept Unemployment Rate: No est v 8.5% prior
- 06:00 (GR) Greece Aug Retail Sales Volume Y/Y: No est v % prior; Retail Sales Value Y/Y: No est v 1.5% prior
- 06:00 (MY) Malaysia Sept M3 Money Supply Y/Y: No est v 4.8% prior
- 06:00 (FR) France Debt Agency (AFT) announces upcoming Bill/bond auctions
- 06:00 (EU) Daily Euribor Fixing
- 06:30 (IN) India Sept Fiscal Deficit (INR) Crore: No est v 7.3B prior
- 06:30 (RU) Russia Central Bank (CBR) Interest Rate Decision: Expected to raise One-week Auction Rate by 50bps to 8.50%
- 07:00 (IT) Italy Sept PPI M/M: No est v 0.0% prior; Y/Y: No est v -2.0% prior
- 07:00 (BR) Brazil Sept PPI Manufacturing M/M: No est v 0.5% prior; Y/Y: No est v 2.5% prior
- 07:00 (EU) ECB Announcement related to LTRO repayments: 4.5Be
- 07:05 (UK) DMO to sell combined 3.5B in 1-month, 3-month and 6-month Bills

- 07:30 (IN) India Forex Reserves w/e Oct 24th:
- 07:45 (US) Daily Libor Fixing
- 08:00 (ZA) South Africa Sept Trade Balance (ZAR): -11.5Be v -16.3B prior
- 08:30 (US) Sept Personal Income: 0.3%e v 0.3% prior; Personal Spending: 0.1%e v 0.5% prior
- 08:30 (US) Sept PCE Deflator M/M: 0.1%e v 0.0% prior; Y/Y: 1.5%e v 1.5% prior
- 08:30 (US) Sept PCE Core M/M: 0.1%e v 0.1% prior; Y/Y: 1.5%e v 1.5% prior
- 08:30 (US) Q3 Employment Cost Index: 0.5%e v 0.7% prior
- 08:30 (CA) Canada Aug GDP M/M: 0.0%e v 0.0% prior; Y/Y: 2.3%e v 2.5% prior

- 08:30 (BR) Brazil Sept Nominal Budget Balance (BRL): -30.1Be v -31.5B prior; Primary Budget Balance: -12.5Be v -14.5B prior; Net Debt to GDP Ratio: 35.4%e v 35.9% prior
- 09:00 (UK) BOE announces outcome of Basel Committee on banking supervision
- 09:00 (PL) Poland Central Bank (NBP) Oct Inflation Expectations: 0.1%e v 0.2% prior
- 09:00 (US) Oct ISM Milwaukee: 60.00e v 63.18 prior
- 09:00 (ES) Spain Debt Agency (Tesoro) announces upcoming bond auction
- 09:15 (US) Baltic Dry Bulk Index
- 09:45 (US) Oct Chicago Purchasing Manager: 60.0e v 60.5 prior
- 09:55 (US) Oct Final University of Michigan Confidence: 86.4e v 86.4 prelim
- 11:00 (MX) Mexico Central Bank (Banxico) Interest Rate Decision: Expected to leave Overnight Rate unchanged 3.00%

- 11:00 (MX) Mexico Sept Net Outstanding Loans (MXN): No est v 2.604T prior
- 12:00 (CO) Colombia Sept National Unemployment Rate: No est v 8.9% prior; Urban Unemployment Rate: 9.3%e v 9.5% prior
- 12:00 (IT) Italy Stats Agency (Istat) Updates Economic Forecasts
- 12:00 (IT) (IT) Bank of Italy Gov Visco speaks in Milan
- 12:30 (EU) Eurogroup chief Dijsselbloem with France PM Valls
- 15:00 (AR) Argentina Sept Industrial Production M/M: No est v -1.3% prior; Y/Y: -2.0%e v -2.9% prior
- 20:00 (KR) South Korea Oct Trade Balance: $4.9Be v $3.4B prior; Exports Y/Y: 1.5%e v 6.9% prior (revised from 6.8%); Imports Y/Y: -1.4%e v +8.0% prior
- 21:00 (CN) China Oct Manufacturing PMI: 51.1e v 51.1 prior
- (AR) Argentina Sept Construction Activity M/M: No est v 1.3% prior; Y/Y: No est v -2.6% prior
- (MX) Mexico Sept YTD Budget Balance (MXN): No est v -353.4B 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