ļMarkets are still sceptical about the Greek
ļUK inflation accelerates
markedly, but BoE governor Mervyn King seeks to reassure
ļStrong GDP growth in China increases likelihood
of monetary policy tightening
ļUS president Obama wants
to impose massive restrictions on banksā activities
ļFOMC could turn slightly more hawkish
The dollar remained firm for the most part this week.
EUR-USD fell to a 6-month low of 1.4029 on Thursday, before recovering again somewhat on Friday to
around 1.41. The movement is mainly a result of inherent weakness in the
eurozone. A disappointing ZEW index, guarded comments on the economy from ECB
members, and the constant discussions among market participants about Greeceās debt crisis and its potential consequences for the
currency union and the EU are all spreading doom and gloom.
UK consumer price data also had a significant impact on the
forex market. UK inflation accelerated from 1.9 to 2.9% in December,
reflecting the renewed rise in energy prices on the one hand and the base
effect of the VAT cut in December 2008 on the other. Some retailers are likely
to have already raised prices ahead of the return to normal VAT rates in
January, which probably also played a part. Prices have increased much more
sharply than predicted in the BoEās November Inflation Report, however. Given
the VAT hike in January, the inflation rate is set to rise well over 3%.
The inflation figures are prompting speculation as to
whether the Bank of England could start
tightening monetary policy sooner than expected. The pound
also strengthened on the back of the assumption that it would benefit from the Greek crisis.
EUR-GBP dropped around 3 pence temporarily to 0.8650; cable rose to a peak of
1.6460. By forecasting that the inflation rate would return to the 2% target
again in the medium term, the BoE governor Mervyn King at least put paid to speculation
on interest rate hikes for the time being, as there would then be no immediate
need for the BoE to take monetary policy action.
There is not much news about Greece. At the beginning of the week, EU finance ministers discussed
the problem. Their comments on the Greek savings plans were somewhat
restrained. The Greek government is trying hard to build up confidence.
Meanwhile, spreads between Greek government bonds and Bunds have widened to new
record highs. The developments in the markets appear to be somewhat
exaggerated, but there is little hope of the situation calming down in the near
This week, the dollar received indirect support from China. Firstly, the government in Beijing reported strong GDP growth of 10.7% in Q4 . Secondly,
several official spokesmen omitted the customary reference to maintaining a āmoderately
loose monetary policyā. Observers interpreted this as a sign that the Peopleās
Bank of China is planning further measures to tighten monetary policy.
US economic data did not have much impact this week. The
figures published continued to confirm the guardedly upbeat assessment. Then, towards
the end of the week, President Obama dropped a bombshell: in a short, tough speech, he outlined
his plans to reform the banking system. Firstly, he proposes to restrict banksā
business activities: they would no longer be allowed to own, invest in or
sponsor hedge funds, private equity funds or proprietary trading operations for
their own profit unrelated to serving their customers. His second aim is to
limit the size of banks, by restricting market shares for deposits, for
example. If these proposals are implemented, they will place massive
restrictions on banksā activities.
Next week, the focus will be on the FOMC meeting. Given the
positive trend in Q4, we are expecting the central bank to raise its economic assessment
again slightly. It could also modify
the statement that the economic situation warrants keeping
central bank rates at exceptionally low levels for an extended period.
Stephan Rieke +49 69 718-4114
Grabbe / Klaus NĆ¤fken
report has been prepared by BHF-BANK Aktiengesellschaft on behalf of itself and
its affiliated companies (together "BHF-BANK Group") solely for the information
of its clients. The information
and opinions in this document are based on sources believed to be reliable and
acting in good faith, but no representation or warranty, express or implied, is
made by any member of the BHF-BANK Group as to their accuracy, completeness or
correctness. Opinions and recommendations are given in good faith but without
legal responsibility and are subject to change without notice. The information
does not constitute advice or personal recommendation, for which the duty of
suitability would be owed, but may facilitate your own investment decision.
Moreover, you should seek your own advice as to the suitability of an
investment matter mentioned herein. Investors are reminded that the price of
securities and the income from them can go down as well as up and that the past
performance of an investment or a market is not necessarily indicative for
future results. This document is for information
purposes only. Descriptions of any company or companies or their securities
mentioned herein are not intended to be complete, and this document is not, and
should not be construed as, an offer to sell or solicitation of any offer to
buy the securities mentioned in it. BHF-BANK Group and its officers and
employees may have a long or short position or engage in transactions in any of
the securities mentioned in this document, or in any related securities. This
publication must not be distributed in the United
rights reserved. Please mention source when quoting from it.
Forex Trading News
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
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
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.
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.
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.
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 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.
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 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.
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.
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.