User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday December 3, 2014 - 12:36:14 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Market Update: European PMI Services data mixed; USD continues to hit trend highs against numerous pairs


Wed, 03 Dec 2014 5:12 AM EST

***Notes/Observations***
- Australia Q3 GDP hits lowest rate of growth since Q1 2013 (Q/Q: 0.3% v 0.7%e; Y/Y: 2.7% v 3.1%e)
- China Nov Service PMI rises slightly MoM; Non-manufacturing PMI: 53.9 v 53.8 prior; HSBC Services PMI: 53.0 v 52.9 prior
- UK BRC Food prices comes in at -0.2%, 1st fall since records started in 2006 as a supermarket price war intensified.
- European PMI Services data mixed (Missed: France, Euro Zone; Beats: UK, Italy; with Germany in line)
- The USD continued to achieve fresh trend highs against numerous pairs (JPY, AUD and EUR)

***Economic Data***
- (IN) India Nov Services PMI: 52.6 v 50.0 prior; Composite PMI: 53.6 v 51.0 prior
- (IE) Ireland Nov Services PMI: 61.6 v 61.5 prior; Composite PMI: 59.9 v 60.2 prior
- (RU) Russia Nov Services PMI: 44.5 v 47.8e; Composite PMI: 47.6 v 49.1 prior
- (CH) Swiss Q3 GDP data beats; Q/Q: 0.6% v 0.3%e; Y/Y: 1.9% v 1.4%e
- (SE) Sweden Nov PMI Services: 56.9 v 57.6 prior
- (TR) Turkey Nov CPI data mixed; M/M: 0.2% v 0.3%e; Y/Y: 9.2% v 9.0%e; CPI Core Index Y/Y: 9.0% v 9.1%e
- (ES) Spain Nov Services PMI: 52.7 v 55.2e (13th month of expansion but lowest since Nov 2013); Composite PMI: 53.8 v 55.5 prior
- (IT) Italy Nov PMI data beats; Services PMI: 51.8 v 50.2e (2nd month of expansion and highest since July); Composite PMI: 51.2 v 49.6e
- (FR) France Nov Final PMI data misses; Services PMI: 47.9 v 48.8e (Confirms third straight month of contraction and lowest since Feb); Composite PMI: 47.9 v 48.4e
- (DE) Germany Nov Final PMI data mixed; Services PMI: 52.1 v 52.1e (Confirms 18th straight month of growth, lowest since July 2013)
- (EU) Euro Zone Nov Final PMI data misses; Services PMI: 51.1 v 51.3e (Confirms 16th straight month of expansion, lowest since Dec 2013);
- (UK) Nov Services PMI beats: 58.6 v 56.5e (Confirms 22nd straight month of growth)
- (EU) Euro Zone Oct Retail Sales M/M: 0.4% v 0.5%e; Y/Y: 1.4% v 1.6%e

Fixed Income:
- None seen

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
**Equities**
Indices [Stoxx50 +0.3%,
FTSE 100 flat at 6,739, DAX +0.2% at 9,964, IBEX-35 +0.6% at 10,817, FTSE MIB +0.6% at 19,916, SMI +0.7% at 9,201, S&P 500 Futures flat at 2,065]

- Market Focal Points/Key Themes: Equity markets open mostly higher following recent gains in the US and Shanghai, Thursday's ECB meeting remains in focus, Markets later pare gains amid weaker services PMI data (France, Spain) and weakness in resource related shares

By Sector
- Consumer Discretionary
[Ladbrokes LAD.UK +2% (reaffirmed outlook); Metro MEO.DE -3% (broker commentary), Adidas -2% (broker commentary), Beiersdorf BEI.DE -1% (broker commentary) ]
- Healthcare [Evotec EVT.DE +11% (collaboration talks with Sanofi), Bayer BAYN.DE +1% (broker commentary); Fresenius SE FRE.DE -1.5% (broker commentary)]
- Technology [Sage Group SGE.UK +2% (reaffirmed outlook ]
- Industrials [BMW BMW.DE -1% (concerns related to China)]
- Financials [Nexity NXI.FR -3% (share placement) ]
- Stoxx50 sectors [Utilities +0.5%, Technology +0.3%, Financials +0.2%, Industrials +0.2%, Basic Materials +0.2%; Energy -0.4%Consumer Cyclical -0.4%, Consumer Non-Cyclical -0.2%,Telecom -0.3%]

***Speakers***
- France Finance Ministry confirmed an additional 3.6B in cuts for its 2015 budget
and forecasted its deficit to GDP at 4.1%. It stated that the budget Deficit to GDP to be well below the 3.0% target in 2017. It expected EU Commission to say that France was in line with budget rules
- EU Commission: Troika and Greece still discussing budget issues
- Sweden Central Bank (Riksbank) member Jansson: Low CPI doesn't reflect economy that has developed poorly. Inflation should rise under current measures and that current political turmoil is not affecting monetary policy
- Russia Central bank sold $700M in FX to combat weak RUB currency for settlement Dec 2nd
- Russia Finance Ministry reiterated it won't implement capital controls

***Currencies***
- The USD continued to achieve fresh trend highs against numerous pairs (JPY, AUD and EUR)
- Euro weakened to test fresh 2-year lows below 1.2325 following disappointing Spanish PMI Services data. Various analyst continued to revise their prediction of ECB outlook with calls now sees QE in March 2015
- The USD/JPY hit a fresh seven-year high for the third consecutive day as it approached the 119.50 area
- Australia Q3 GDP data missed expectations and this prompted the AUD/USD to fresh 4 year lows around $0.8390

**Political/In the Papers:
-(GR) Greece PM Samaras: Holding early elections runs the risk of derailing the recovery efforts, expecting Greece yields to decline when a new Greece president is elected; Greece may surpass budget goals without more cuts.
- (UK) UK Fin Min Osborne: To extend funding for lending scheme (FLS) by 1 year to Jan 2016 (Program was due to end next month)
- (US) Treasury annual Financial Stability Report: Russia crisis poses a risk for US and Europe

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- (SE) Sweden Parliament 2015 Budget vote expected in session
- (PL) Poland Central Bank (NBP) Interest Rate Decision: Expected to leave Base Rate unchanged at 2.00%
- (BR) Brazil Central Bank (BCB) Interest Rate Decision: Expected to raise Selic Target Rate by 50bps to 11.75%

- 05:30 (DE) Germany to sell 3.0B in 0.25% Oct 2019 BOBL
- 05:30 (PT) Portugal Debt Agency (IGCP)to sell combined 0.5-0.75B in 3-month and 12-month Bills

- 06:00 (IE) Ireland Nov Live Register Monthly Change: No est v -3.5K pror ; Unemployment Rate: No est v 11.0% prior; Live Register Level: No est v 371.4K prior
- 06:30 (CL) Chile Central Bank Meeting Minutes
- 06:45 (US) Daily Libor Fixing
- 07:00 (RU) Russia cancels planned OFZ Bond auction
- 07:00 (US) MBA Mortgage Applications w/e Nov 28th: No est v -4.3% prior
- 07:00 (BR) Brazil Nov PMI Services: No est v 48.2 prior; Composite PMI: No est v 48.4 prior
- 07:00 (UK) Prime Minister's Question Time in House of Commons
- 07:30 (UK) Chancellor Osborne Makes Autumn Statement to Parliament
- 08:15 (US) Nov ADP Employment Change: +222Ke v +230K prior
- 08:15 (US) Baltic Dry Bulk Index
- 08:30 (US) Q3 Final Nonfarm Productivity: 2.4%e v 2.0% prelim; Unit Labor Costs: 0.0%e v 0.3% prelim
- 09:30 (BR) Brazil Weekly Currency Flows
- 09:45 (US) Nov Final Markit Services PMI: 56.5e v 56.3 prelim; Composite PMI: No est v 56.1 prior
- 10:00 (CA) Bank of Canada (BOC) Interest Rate Decision: Expected to leave Interest Rates unchanged at 1.00%
- 10:00 (US) Nov ISM Non-Manufacturing Composite: 57.5e v 57.1 prior
- 10:00 (PL) Poland Central Bank Gov Belka to hold post rate decision press conference
- 10:30 (US) Weekly DOE Crude Oil Inventories
- 12:30 (US) Fed's Plosser speaks on the Economic Outlook in Charlotte, NC
- 14:00 (US) Federal Reserve Releases Beige Book
- 14:00 (US) Fed's Brainard on financial stability in Washington
- 16:00 (CO) Colombia Oct Exports FOB: No est v $5.1B prior
- 17:30 (CA) Bank of Canada (BOC) Gov Poloz speaks at the Canada Summit
- 18:00 (KR) South Korea Q3 Final GDP Q/Q: 0.9%e v 0.9% prelim; Y/Y: 3.2%ev 3.2% prelim
- 19:30 (AU) Australia Oct Retail Sales M/M: No est v 1.2% prior
- 19:30 (AU) Australia Oct Trade Balance (AUD): No est v -2.3B prior
- 19:30 (US) Fed's Fisher addresses Dallas Business Club

 

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