User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday January 22, 2010 - 11:13:48 GMT
Trade the News Staff -

Share This Story:
| | Email

European Market Update: UK Retail sales disappoint; Markets cautious ahead of potential China and India exit strategy implementation

Friday, January 22, 2010 5:55:15 AM

 European Market Update: UK Retail sales disappoint; Markets cautious ahead of potential China and India exit strategy implementation


- (GR) Greece Nov Current Account: -€2.8B v -€2.5B prior
- (FR) France Jan Business Confidence: 92 v 90e; Production Outlook: -4 v -10e; Own-Company Production: -9 v -6e
- (TT) Taiwan Dec Unemployment Rate SA: 5.8% v 6.0%e
- (AS) Austria Nov Industrial Production M/M: -1.3% v 1.1% prior; Y/Y: -4.7% v -8.0% prior
- (IC) Iceland Dec Wage Index M/M: 0.3% v 1.5% prior; Y/Y: 3.6% v 4.0% prior
- (UK) Dec Retail Sales M/M: 0.3% v 1.1%e; Y/Y: 2.1% v 3.0%e
- (EU) Euro-Zone Nov Industrial New Orders M/M: 1.6% v 0.5%e; Y/Y: -1.5% v -7.1%e

- (BR) Jan IBGE CPI ipca-15 M/M: 0.5% v 0.5%e

- Equities: European equity markets opened on a heavy theme following losses in Asia and the America's that extended over a two day period. The financial sector has been in the highlight after yesterday's initiatives launched by US Pres Obama regarding prop trading, private equity and overall size of banks. Trading in the larger financials with exposure to sales/trading, exchange and over the counter securities have taken the brunt of the decline. In early themes, continued concerns emanating from
China regarding potential tightening have continued to punish miners and heavy industrial names. Outside of financials, names that rotated lower included Lufthansa [LHA.GE] following analyst actions and commentary that the firm had yet to put together a full 2010 outlook. Sector rotation from Goldman led to a downgrade of Daimler [DAI.GE] with those shares moved lower. Equity winners included Ericsson [ERICB.SW] whose mobile handset JV with Sony [SNE] provided signs of recovery with units shipped and ASP both increasing q/q. Aftermarket US earnings including American Express [AXP] and Google [GOOG] have carried sector themes into Europe. Expected earnings from industrial and lending name GE [GE] in the NY morning are being eyed anxiously.

-In individual equities: Sony Ericsson [SNE/ERIC] Sony Ericsson Reports Q4 Net loss -€167M v -€187M y/y, Sales €1.75B v €2.91B y/y. || Tullow [TLW.UK]: Government of Uganda said it favored Eni's rival proposal - London Times. || Air France [AF.FR]: Seeking to reduce regional carrier costs by 20% over 2-year period -Les Echos. ||

- Speakers: ECB's Constancio commented that the Euro area faced a period of slow growth and that structural competitiveness was its main issue. He believed that
Portugal would match Euro-area growth average in future. Portugal had done enough for 2010 and that it might not need spending cuts **ECB's Gonzalex-Paramo commented that the recent economic recent recovery might make reforms seem less urgent ***Former Japan Fin Min Yosano commented that Japanese debt was approaching toward uncontrollable levels and added that long-term interest rates are to rise as a result*** BOJ's Shirakawa commented that it was important for Japan to move away from deflation. He noted that the central bank would maintain an accommodative policy stance and noted the importance that economy returned to growth with price stability. Need to narrow output gap and create demand. Lastly he noted the BOJ would review its long-term economic forecasts later this month (issued back in October) *** Greece Debt Agency PDMA commented that it planed to issue minimum of €3B in syndicated bonds in near future with 5 - 10yr maturity *** China State Information Centre (SIC) commented that any China interest rate increase depended on the amount of hot money inflows and on effectiveness of current policy tools ***China Banking Regulator CBRC noted that its Shanghai unit informed small banks not to give loans that were rejected by larger banks to control risks from property loans***Russian Fin Min Kudrin commented that Russia might move to sell oil denominated in ruble currency over the course of time

- Currencies: The USD was softer against the major and commodity related pairs as some of the initial risk aversion over President's Obama call for restrictions on the size and trading activities of financial institutions. It seems that loopholes in the proposal were already being considered. The EUR/USD tested 1.4160 during the European morning, up around 60 pips from its opening level in
Asia. The JPY moved off its best level as it benefited from risk aversion flows during the early part of the Asian session. Former Japan Fin Min Yosano noted that the Japanese debt situation was approaching uncontrollable levels and that long-term interest rates were to rise as a result.

- Fixed Income: Government bonds remain bid with risk aversion en vogue, as Bund and Gilt markets get their first chance to react to the Volcker rule - having been officially unveiled yesterday after the European close. It's a steepening story in
Europe with short dated issues outperforming on both the continent and in the UK. Greece provided further details on upcoming issuance, confirming plans to issue a minimum of €3B in bonds with 5 - 10yr maturity via syndicate next week. 10y spreads are working their way back to the 300bps area as we go to press.

- Geo-Political: Chinese authorities have responded to US Sec of State Hillary Clinton's comments regarding censorship by stating the issue could pose threats to overall Sino-US relations. Yesterday
Clinton asked for a full investigation into a series of internet attacks against US firm Google that escalated into a freedom of speech issue with the internet giant threatening a pullout from china. Indian authorities have issued a wide-scoping terror alert to domestic airline and airports on intelligence that terror groups are planning imminent hijacking attempts. Airports have been stepped up to high alert on the threat that comes following US Sec Def Gates' visit earlier in the week. Russian authorities have continued hard-line responses to speculation that the US is in the process of deploying Patriot Missile THAAD systems in Poland. Foreign Min Lavrov denied claims that Russia would be expanding the size of its Baltic surface fleet as a response, but questioned the logic of the US operations viewing the exercise as a move by Poland to build its Russian defenses. Lavrov stated that both the US and Russia were not in a place to cooperate on joining ABM technology as of yet. Reminder: Pres Obama halted an ABM program in the Czech Rep and Poland in Sept 2008.

Russia Fin Min Kudrin Russia might move to sell oil denominated in ruble currency over the course of time. Russian Dep Fin Min commented that it was considering changing from oil export tax to production tax regime *** Gazprom [GAZP.RU] might sign a final gas supply pact with China in mid-2011. Chinese press noted that under the plan Russia would begin supply fuel to China in 2015.

Sovereign Ratings: Fitch revised
Russia outlook to Stable from negative and affirmed the country's sovereign "BBB" ratings. Outlook was aided by rebound in energy prices and lower inflation outlook. A lower budget deficit and lower banking sector risk were also factors cited

- Asian stocks broadly lower; European and US futures are steady as banks seems to have a plan around the Obama restrictions
- Dealers feel that Geitner's days are numbered after Obama selects the Volcker route
- UK retail sales below expectations but dated Euro-zone Industrial orders exceed analyst views.
-China Foreign Ministry: "Resolutely opposes" US accusations regarding the internet online freedom. Sec Clinton speech was 'Harmful' To Sino-US relationship

***Looking Ahead:
- (PD) Poland Dec Budget Level (PLN): No est v -498.2M prior; Budget Level YTD: No est v -24.4B prior
- 7:00 ECB's Gonzalez-Paramo to speak
- 8:30 (CA) Canada Nov Retail Sales M/M: -0.2%e v 0.8% prior; Less Autos M/M: 0.5%e v 0.2% prior
- 9:00 (BE) Belgium Jan Business Confidence SA -7.2%e v -7.9% prior
- 10:00 (MX) Mexico Dec Preliminary Trade Balance: -$644.5me v -$195.2M prior
- 10:00 (MX) Mexico Dec Unemployment Rate: 5.1%e v 5.3% prior
- 10:00 (IC) Iceland to sell notes
- 14:00 (AR) Argentina Dec Trade Balance: $1.2Be v $1.3B prior
- 14:00 (AR) Argentina Dec Industrial Production M/M: No est v 1.1% prior; Y/Y: No est v 4.0% prior
- (CO) Colombia Nov Trade Balance: $181.4Me v $133.9M prior



Legal disclaimer and risk disclosure

All information provided by Trade The News (a product of Trade The News, Inc. "referred to as TTN hereafter") is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Although information is taken from sources deemed reliable, no guarantees or assurances can be made to the accuracy of any information provided. 1. Information can be inaccurate and/or incomplete 2. Information can be mistakenly re-released or be delayed, 3. Information may be incorrect, misread, misinterpreted or misunderstood 4. Human error is a business risk you are willing to assume 5. Technology can crash or be interrupted without notice 6. Trading decisions are the responsibility of traders, not those providing additional information. Trade The News is not liable (financial and/or non-financial) for any losses that may arise from any information provided by TTN. Trading securities involves a high degree of risk, and financial losses can and do occur on a regular basis and are part of the risk of trading and investing.




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."

Actionable trading levels delivered LIVE to YOUR charts

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 27 May 2019
AAGB/US- Holiday
Tue 28 May 2019
A 14:00 US- Consumer Confidence
C 13:00 US- Case-Shiller
Wed 29 May 2019
A 08:55 DE- Employment
AA 18:00 US- BOC Decision
A 18:30 US- EIA Crude
Thu 30 Mar 2019
AAEZ/CH- Holiday
A 12:30 US- Weekly Jobless
Fri 31 Mar 2019
AA 10:00 EZ- Flash HICP
A 12:30 US- Personal Income, Spending, Deflator
AA 14:00 US- Final Univ of Michigan

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube


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
Managed Forex Accounts
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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2019 Global-View. All Rights Reserved.
Hosting and Development by Blue 105