User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday December 29, 2014 - 12:03:17 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com EU Mid-Market Update: Greece fails to select a President with snap elections to be called in early 2015


Mon, 29 Dec 2014 5:39 AM EST

***Notes/Observations***
- Greece Parliament failed to select PM Samaras candidate for President (Stavros Dimas) in the 3rd and final round; snap elections to be held in early 2015

- Italy Dec Consumer Confidence misses expectations (99.7 vs. 100.4e)
- Italy year-end auctions results disappoint with low bid-to-covers
- Russia GDP moves into contraction territory for 1st time in over 5 years

**Economic data***
- (RU) Russia Manufacturing PMI: 48.9 v 49.5e; 1st contraction in 6 months and lowest since May

- (CH) Swiss Nov UBS Consumption Indicator: 1.29 v 1.32 prior
- (FI) Finland Dec Business Confidence: -11 v -9 prior; Consumer Confidence Index: 4.4 v 3.0e
- (RU) Russia Nov GDP Y/Y: -0.5% v 0.0% prior (first annual decline since Oct 2009)
- (CZ) Czech Dec Business Confidence: 13.8 v 12.3 prior; Consumer Confidence Index: 2.8 v 1.3 prior; Composite Confidence: 11.6 v 10.1 prior
- (HK) Hong Kong Nov Trade Balance (HKD): -52.2B v -52.0Be; Exports Y/Y: 0.4% v 2.3%e; Imports Y/Y: 2.4% v 4.1%e
- (IT) Italy Dec Consumer Confidence missed; 99.7 v 100.4e (lowest since Feb)
- (BR) Brazil Dec FGV Inflation IGPM M/M: 0.6% v 0.7%e; Y/Y: 3.7% v 3.7%e
- (GR) Greece Parliament failed to select President in 3rd and final of the process; country to hold snap elections by early Feb

Fixed Income:
- (IT) Italy Debt Agency (Tesoro) sold 7.0B vs. 7.0B indicated in 6-month Bills; Avg Yield: 0.297% v 0.272% prior; Bid-to-cover: 1.39x v 1.72x prior
- (IT) Italy Debt Agency (Tesoro) sold 2.5B vs. 2.0-2.5B indicated range in Zero Coupon 2016 Bonds; Avg Yield: 0.499% v 0.692% prior; Bid-to-cover: 1.46x v 1.71x prior
- (HU) Hungary Debt Agency (AKK) sold HUF60B vs. HUF60B indicated 3-Month Bills; Avg Yield: 1.53% v 1.33% prior; Bid-to-cover: 1.60x v 3.50x prior

*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
**Equities**
Indices [Stoxx50 -0.6%, FTSE 100 +0.2% at 6,625, DAX -0.5% at 9,863, CAC-40 flat at 4,292, IBEX-35 -1.2% at 10,347, FTSE MIB -1.6% at 19,036, SMI +0.2% at 9,038, S&P 500 Futures -0.1% at 2,081]

- Market Focal Points/Key Themes: Equity markets open mixed following Christmas break with the final round of the Greek presidential elections in focus; Greek equities have sharp declines ahead of vote; FTSE MIB lower amid general declines for the periphery and weak Italian confidence data; UK-listed mining shares rise; German chemicals firm Lanxess continues to be cautious on outlook

By Sector
- Healthcare
[Novo Nordisk NOVOB.DK +2.5% (FDA approval)]
- Stoxx50 sectors [Energy -1%, Telecom -0.7%, Utilities -0.5%, Consumer Cyclical -0.5%, Industrials -0.4%, Financials -0.2%, Basic Materials -0.2%; Technology +0.1%, Consumer Non-Cyclical +0.1%]

**Speakers**
- Russia Foreign Min Lavrov stated that he saw real opportunity to solve Ukraine crisis in 2015
- Russia President Putin signed into law the increase of banking sector deposit insurance level from RUB700K to RUB1.4M
- Russia First Deputy PM Shuvalov: Russia to choose banks to get RUB1T by mid-Jan
- Next IMF mission to Ukraine to begin Jan 8th and expected to complete work before end of Jan
- China State Information Center (SIC) saw China 2015 GDP at 7.0% from 7.3% expected in 2014
- Japan LDP tax proposal: Japan should cut corporate tax to 31.33% over 2 years (in line with press speculation)

**Currencies***
- The USD remained in tight ranges but the focus remained on the 3rd and final round of the Greece Parliament selection process on PM Samaras candidate for President - Stavros Dimas. The country would move to snap elections in early 2015 if no candidate received the necessary 180 votes to be selected. The saying going into the Greek vote was "Merry Crisis and Happy new fear"
- The RUB currency weakened in the session after the Economic Ministry confirmed that monthly GDP data saw its first annual decline since Oct 2009 (Nov GDP Y/Y: -0.5% vs. 0.0% prior). RUB currency (Ruble) weakened by approx 7% in session to test 58.00 level (**Note: last week's low was 52.00). Today is the last tax payment day for 2014 for Russian companies and reports that companies had already sold enough FX to cover taxes
- SNB stated that the CHF currency (franc) did not trade below the 1.2000 floor on Dec 25th, contrary to some reports, reaffirmed floor in cross was guaranteed at all times.

**Political/In the Papers:
- (DE) Head of German Govt advisors (aka. 'wisemen') Christoph Schmidt: No reason for ECB to start buying sovereign bonds to support euro zone growth
- (CN) China Ministry of Commerce published and then removed expectations of 2014 trade growth of 3.5%, which implies China would miss 7.5% 2014 GDP target

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- 06:00 (IT) Italy PM Renzi year-end press conference
- 06:30 (CL) Chile Central Bank Meeting Minutes
- 06:30 (BR) Brazil Nov Central Govt Budget Balance (BRL): -1.3Be v +4.1B prior
- 06:45 (US) Daily Libor Fixing
- 07:00 (GR) Greece PM Samaras press conference following rejection of Presidential condidate
- 07:30 (BR) Brazil Nov Nominal Budget Balance (BRL): -32.8Be v -17.8B prior; Primary Budget Balance (BRL): -1.6Be v +3.7B prior; Net Debt to GDP Ratio: 36.1%e v 36.1% prior
- 08:15 (US) Baltic Dry Bulk Index
- 08:50 (FR) France Debt Agency cancels weekly 3-month, 6-month and 12-month Bills
- 09:00 (IL) Israel Central Bank (BOI) Interest Rate Decision: expected to leave Base Rate unchanged at 0.25%
- 09:35 (EU) ECB calls for bids in 7-Day Main Refinancing Tender
- 09:45 (EU) ECB announces Covered-Bond Purchases
- 10:30 (US) Dec Dallas Fed Manufacturing Activity: 9.0e v 10.5 prior
- 11:30 (US) Treasury to sell 3-Month and 6-Month Bills
- 12:30 (MX) Mexico to sell 1-month, 3-month and 6-month Bills

- 12:30 (MX) Mexico to sell MXN9.5B in 5-year bonds
- 14:00 (AR) Argentina Q3 Current Account Balance: No est v $0.6B prior
- 14:00 (AR) Argentina Oct Economic Activity Index (Monthly GDP) M/M: No est v 0.2% prior; Y/Y: -0.5%e v -0.2% prior
- 14:00 (AR) Argentina Q3 GDP Y/Y: -0.5%e v 0.0% prior
- 14:00 (AR) Argentina Nov Industrial Production M/M: No est v 0.2% prior; Y/Y: -1.3%e v -1.8% prior
- 14:00 (AR) Argentina Nov Construction Activity M/M: No est v 0.9% prior; Y/Y: No est v 4.9% prior
- 18:00 (KR) South Korea Nov Current Account Balance: No est v $9.0B prior; Balance of Payments (BoP): No est v $8.7B prior-
- 18:00 (KR) South Korea Nov Industrial Production M/M: +0.9%e v -1.6% prior; Y/Y: -2.3%e v -3.2% prior
- 22:30 (HK) Hong Kong to sell 3-month and 12-month Bills


 

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