User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday November 24, 2014 - 12:35:35 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: IFO Business Climate Survey registers its 1st MoM improvement in 7 months

Mon, 24 Nov 2014 5:20 AM EST

***Notes/Observations***
- Asia equities rally after Friday China PBoC rate cut (**Note: Japan closed for holiday); speculation that China has shifted its focus to broad-based stimulus and are open to more rate cuts
- Low-liquidity conditions seen in Asia, Europe
- Draghi (on Friday) rekindled hopes of additional ECB measures in Dec by re-affirming the message that the ECB must do what it can to boost inflation
- German data showing some signs of stabilization as IFO Business Climate Survey registers its 1st MoM improvement in 7 months

**Economic Data***
- (SG) Singapore Oct CPI lower; M/M: -0.4% v +0.2%e; Y/Y: 0.1% v 0.6%e; CPI Core Y/Y: 1.7% v 1.8% ; (**Note: CPI YoY reading eased for the fifth straight month to a near 5-year low)
- (CZ) Czech Nov Confidence data beats; Business Confidence: 12.3 v 11.5 prior; Consumer Confidence Index: +1.2 (turns positive for 1st time since 2008) v -2.0 prior
- (TW) Taiwan Oct Industrial Production beats; Y/Y: 9.0% v 7.6%e; Commercial Sales Y/Y: 1.5% v 2.6%e
- (NL) Netherlands Nov Producer Confidence Index beats: 2.4 v 2.0e (highest since Jun 2011)
- (DE) Germany Nov IFO Survey beats; Business Climate Survey: 104.7 v 103.0e; Current Assessment Survey: 110.0 v 108.0e; Expectations Survey: 99.7 v 98.5e

Fixed Income:
- None seen

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
**Equities**
Indices [Stoxx50 +0.9%,
FTSE 100 0% at 6,747, DAX +0.6% at 9,792, CAC-40 +0.9% at 4,386, IBEX-35 +1.3% at 10,652, FTSE MIB +0.3% at 20,010, SMI 0% at 9,081, S&P 500 Futures 0.2% at 2,066]

- Market Focal Points/Key Themes: Equity markets are trading higher after a better than expected German IFO survey. The business climate registered its first improvement in 7 months. M&A also boosted shares with Aviva making a big bid for Friend's Life.

By Sector
- Industrials
[FCC FCC.ES -4.1% (talks with Soros end without deal)
- Energy [Petrofac PFC.UK -24% (lowers guidance on weak oil), Rec Solar RECSOL.NO +13.0% (receives NOK108.5/shr offer), Salamander Energy SMDR.UK +1.9% (agrees to purchase by Ophir), Bashneft BANE.RU -0.6% (earnings rise)]
- Healthcare [Lundbeck LUN.DK -0.9% (CEO resigns)]
- Financials [Friends Life FLG.UK +5.6% (suspends buyback on 5.6B Aviva deal), Aviva AV.UK -4.4%, Intesa Sanpaolo ISP.IT +2.1% (interested buying RBS unit Coutts)]
- Materials [Phosagaro PHOR.RU -1.8% (earnings affected by RUB)]

***Speakers***
- ECB's Nowotny (Austria): ECB needs steady hand on additional policy measures
; Q1 would be too early; General ECB view is that inflation is not high enough. EU investment package should provide short-term stimulus and improve potential growth in long term
- ECB's Constancio (Portugal) reiterated view that Europe was not at risk of full-blown deflation and would assess in Q1 whether current measures were contributing to expected pace of balance sheet expansion. If not, it could consider other options including sovereign QE but no decision yet
- IFO Economist commented that it was too early to talk about a turnaround, but if confirmed it would have a positive effect on H1 2015 GDP growth. Lower EUR currency exchange rate and falling oil prices were positively reflected in Business Climate survey
- EU Commission said to delay its decision on whether to accept France 2015 budget deficit in excess of 3% until March. France could secure a delay until 2017 depending on budget trajectory and extent of reforms. Various reports that the EU would approve Italy's 2015 budget
- Russia Central Bank 1st Dep Gov Simanovsky: Not forgetting about the economy in targeting inflation as it is not aiming to curb inflation at any price
- Sweden Central Bank (Riksbank) Dep Gov Skingsley: Recent data has been in line with forecasts and reiterated view that additional steps include delaying 1st potential rate hike. Saw SEK currency as reasonably valued
- Greece and Troika official set to meet in Paris on Tuesday, Nov 25th to discuss the stalled review
- Additional China PBoC interest rate cuts could be forthcoming as the recent rate cut showed govt frustration with banks directing credit
- S&P comments on China: Country was unlikely to launch aggressive stimulus
- Russia may agree to reduce output by 15M tons (110M bbl) in 2015 to support prices if OPEC cuts by 70M tons
- Iran nuclear P5+1 talks to end today and resume in mid-Dec, possibly in Oman
- Saudi Aramco CEO: Oil price drop decline won't deter company from strategy and believes Gulf oil producers can withstand low oil prices

***Currencies***
- Low-liquidity conditions and dearth of data kept FX markets subdued.
- The EUR/USD hovered near the 1.24 level in quiet trading on Monday after German IFO Business Climate Survey registered its 1st MoM improvement in 7 months. Peripheral and other European yields continued to hit record lows.
- Spanish 10-year gov't yield below 2.00% level in early European trading for record lows. Italy, Austria and France all saw their respective 10-year yield hits record lows in the session
- ECB chief Draghi rekindled hopes of additional ECB measures in December by re-affirming the message that the ECB must do what it can to boost inflation. Goldman analyst stated that he saw 1 in 3 chance of QE in H1 2015 from ECB

**Political/In the Papers:
- (IR) Russia and China could reach a compromise position on Iran - Russian press
- (CH) SNB's Jordan repeated his opposition to gold initiative, arguing once again that it would impede the central bank's ability to defend the 1.2000 franc cap

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- 05:30 (BR) Brazil Central Bank Weekly Economists Survey
- 06:00 (IT) Italy PM Renzi with Austria Chancellor Faymann
- 06:00 (ES) Bank of Spain de Molina
- 06:00 (IL) Israel Oct Unemployment Rate: No est v 6.5% prior
- 06:00 (RO) Romania to sell 2020 Bonds
- 06:45 (US) Daily Libor Fixing
- 07:00 (CL) Chile Oct PPI M/M: No est v -0.7% prior
- 07:30 (BR) Brazil Oct Current Account Balance: -$7.5Be v -$7.9B prior; Foreign Direct Investment (FDI): $4.2Be v $4.2B prior
- 07:30 (TR) Turkey Nov Real Sector Confidence (Seasonally Adj): No est v 110.1 prior; Real Sector Confidence (unadj): No est v 106.9 prior
- 07:30 (TR) Turkey Nov Capacity Utilization: No est v 74.9% prior
- 07:35 (FI) Finland Econ Min
- 08:00 (DE) ECB's Weidmann (Germany) in Madrid
- 08:15 (US) Baltic Dry Bulk Index
- 08:30 (US) Oct Chicago Fed National Activity Index: No est v 0.47 prior
- 08:50 (FR) France to sell 6.3-7.5B in 3-month, 6-month and 12-month bills
- 09:00 (IL) Israel Central Bank Interest Rate Decision: Expected to leave Base Rate unchanged at 0.25%
- 09:00 (BE) Belgium Nov Business Confidence: -6.9e v -6.8 prior
- 09:00 (MX) Mexico Oct Unemployment Rate (unadj): 4.9%e v 5.1% prior; Unemployment Rate (Seasonally Adj): 4.7%e v 4.9% prior (revised from 4.8%)
- 09:30 (EU) ECB announces weekly purchases under its covered bond program 3 (CBPP3)
- 09:35 (EU) ECB calls for bids in 7-day main Refi at fox
- 09:45 (US) Nov Preliminary Markit Services PMI: 57.3e v 57.1 prior; Composite PMI: No est v 57.2 prior
- 10:30 (US) Nov Dallas Fed Manufacturing Activity: 9.0e v 10.5 prior
- 11:30 (BR) Brazil Oct Tax Collections (BRL): 104.6Be v 90.7B prior
- 11:30 (US) Treasury to sell combined $52B in 3-Month and 6-month Bills
- 13:00 (US) Treasury to sell $28B in 2-Year Notes
- 18:50 (JP) Bank of Japan (BOJ) Oct. 31 meeting minutes

- 20:00 (JP) BOJ Gov Kuroda speaks in Nagoya
- 23:00 (JP) BOJ's Nakaso in Tokyo

 



 

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