User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday January 6, 2014 - 11:12:28 GMT
Trade the News Staff -

Share This Story:
| | Email EU Market Update: Peripheral Europe PMI Services continue improving trend while core Europe highlights the bumpy recovery EU Market Update: Peripheral Europe PMI Services continue improving trend while core Europe highlights the bumpy recovery
Mon, 06 Jan 2014 5:15 AM EST

- Asia leading global equity market correction
- China PMI Services holds onto growth but lowest reading since Aug. 2011 as stimulus impact fades
- Peripheral Europe PMI Services continue improving trend; Ireland and Spain at approx. 7-year highs). Core Europe again highlights the bumpy and uneven economic recovery

***Economic Data***
- (JP) Japan Dec Vehicle Sales Y/Y: 18.7% v 13.3% prior; 4th consecutive rise
- (IN) India Dec PMI Services: 46.7 v 47.2 prior; 6th straight contraction
- (IE) Ireland Dec Investec Services PMI: 61.8 v 57.1 prior; highest since Feb 2007; 17th straight month of expansion
- (BR) Brazil Dec Sao Paulo FIPE CPI Monthly: 0.7% v 0.6%e
- (ZA) South Africa Dec HSBC/Markit PMI: 50.5
- (NO) Norway Dec Manufacturing PMI: 51.6 V 53.8e
- (CZ) Czech Nov Trade Balance (CZK): 38.7b V 35.0Be
- (DK) Denmark Nov Unemployment Rate Seasonally Adj: 4.4% v 4.4% prior; Gross Unemployment Rate: 5.7% v 5.7% prior
- (DE) Germany Dec CPI Saxony M/M: 0.4% v 0.3% prior; Y/Y: 1.4 v 1.4% prior
- (EU) ECB 270M borrowed in overnight loan facility vs. 325M prior; 88.2B parked in deposit facility vs. 79.5B prior - Daily Eurosystem Liquidity Conditions
- (ES) Spain Dec. Services PMI: 54.2 v 51.6e; second straight month of growth and highest since July 2007
- (TW) Taiwan Dec Foreign Reserves: $416.8B v $415.6B prior
- (IT) Italy Dec PMI Services: 47.9 v 48.5e; 2nd straight month of contraction
- (FR) France Dec Final PMI Services: 47.8 v 47.4e; confirms 2nd straight monthly contraction
- (DE) Germany Dec Final PMI Services: 53.5 v 54.0e; confirms 8th straight month of growth
- (EU) Euro Zone Dec Final PMI Services: 51.0 v 51.0e (confirms 4th straight month of growth); PMI Composite: 52.1 v 52.1e

- (DE) Germany Dec CPI Brandenburg M/M: 0.4% v 0.2% prior; Y/Y: 1.3% v 1.3% prior
- (DE) Germany Dec CPI Hesse M/M: 0.4% v 0.2% prior; Y/Y: 1.2% v 1.1% prior
- (UK) Dec PMI Services: 58.8 v 60.3e; lowest since Jun
- (EU) Euro Zone Jan Sentix Investor Confidence: 11.9 v 9.5e; fifth straight positive reading

- (DE) Germany Dec CPI North Rhine Westphalia M/M: 0.5% v 0.3% prior; Y/Y: 1.8% v 1.6% prior
- (NO) Norway Dec House Prices M/M: -0.9%; Y/Y: -0.6%

Fixed Income:
- None seen

Indices [Stoxx50 +0.2%
, FTSE 100 -0.1% at 6,723, DAX +0.1% at 9,445, CAC-40 flat at 4,247, IBEX-35 +0.9% at 9,882, FTSE MIB +0.7% at 19,234, SMI -0.2% at 8,255, S&P 500 Futures flat at 1,826]

- Market Focal Points: Equity markets open lower following negative leads from Tokyo and Shanghai, Miners track declines in copper, Christmas trading concerns weigh on UK retailer Marks & Spencer, Shipping services firm Clarkson raises outlook, Mixed European PMI services data

By Sector
- Financials
[Royal Sun RSA.UK +6% (broker commentary)]
- Consumer Discretionary [Marks & Spencer MKS.UK -1.5% (concerns related to Christmas sales), Puma PUM.DE -1.5% (broker commentary), Lufthansa LHA.DE -1% (broker commentary)]
- Technology [Dialog Semi DLG.DE -5% (broker commentary)]
- Healthcare [NiCox COX.FR +3% (CFO change)]
- Industrials [Clarkson CKN.UK +7% (raised outlook); ABB ABBN.CH -1% (broker commentary)]
- Stoxx50 sectors [Energy +0.5%, Financials +0.5%, Utilities +0.1%, Industrials flat; Technology -0.7% Consumer Cyclical -0.5%, Basic Materials -0.4%, Consumer Non-Cyclical -0.2%, Telecom -0.1%]

- UK Chancellor Osborne stated in a BBC Radio interview that UK would need to find a further 25B in cuts after 2015 elections
. He noted that the domestic economy was improving but needed to stick to spending plan as the country still borrowed too much.
- Czech Central Bank gov Singer stated that it might discuss use of Fx reserves if CZK currency weakened and relaxed monetary conditions too much; More data needed to start debate
- Israel Central bank Minutes: Vote was unanimous (5-0) to hold rates steady back in Dec
- China Foreign Ministry spokesman Hua: Japan PM Abe has closed the door of dialogue with China; he (Abe) would not be welcome in China
- China Securities Regulatory Commission (CSRC): To strictly control property loan risks and would set up 3-5 private banks under pilot scheme

Currencies/Fixed Income:
- Asian equity markets correction helped to push the JPY currency higher and put the currency on a corrective setback from recent 5-year lows

- The EUR/USD recovered from moderate losses aided by peripheral PMI Services data. Both Ireland and Spain were around 7-year highs. Core Europe again highlighted the bumpy and uneven economic recovery with its data releases. Dealers also noted that recent comments from the ECB were leaning on the hawkish side in terms of not needing more rate cuts at this time. German State CPI also came in on the positive side for the third straight month, dispensing deflation concerns
- The GBP/USD continued to retrace from 1.6600 area seen at the beginning of the year. Dealers noted that move below the 1.6300 level could generate another bearish signal and more downside in the pair

Political/In the Papers:
-(EU) Brussels set to ease financial reforms on bank splits - FT cites European Commission draft
- (EU) US Treasury Sec Lew to tell European counterparts to work on boosting growth and avoiding deflation. will renew pressure on Germany to boost domestic demand
- (IT) Italy Dep Econ Min Fassina resigns after unsuccessful demands that the govt be reshuffled - financial press
- (UK) Senior BOE official said the world's major Central Banks should consider making bilateral FX swap
agreements larger and permanent given the interconnectedness of the global financial system
- (DE) ECB's Weidmann stated that easy policy justified with caution
-(US) Fed's Plosser (hawk, FOMC voter): Fed may consider a more aggressive taper of as much as $25B per month vs the $10B announced initially - financial press; Fed must be ready to raise rates quickly if it becomes necessary
Fed's Rosengren (dovish dissenter; FOMC non-voter): Fed can be patient about removing monetary policy support
- (CN) China Securities Regulatory Commission (CSRC) to meet with blue chip companies regarding stock prices stabilization - Chinese press
- (CN) Chinese Cabinet issued new rules to strengthen regulation of the shadow-bank lending that has helped fuel an explosion in debt levels since 2008
- (CN) Beijing said to be considering a Tobin Tax as part of an effort to cut down on "hot money" inflows into its FX market
- (CN) Investor Soros: Biggest worry in 2014 would be a slowdown in China

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- (PT) European Parliament Delegation visits Portugal
- (DE) Germany Dec CPI Baden Wuerttemberg M/M: No est v 0.3% prior; Y/Y: No est v 1.3% prior
- (DE) Germany Dec CPI Bavaria M/M: % v 0.1% prior; Y/Y: % v 1.0% prior
- 05:30 (BR) Brazil Central Bank Weekly Economists Survey
- 06:00 (PT) Portugal Dec Consumer Confidence Index: No est v -41.8 prior; Economic Climate Indicator: No est v -1.2 prior
- (NL) Netherlands Debt Agency (DSTA) to sell up to 4.0B in 3-Month and 12-Month Bills
- 06:30 (CL) Chile Nov Economic Activity M/M: +0.6%e v -0.1% prior; Y/Y: 3.1%e v 2.8% prior
- 06:45 (US) Daily Libor Fixing
- 07:00 (BR) Brazil Dec PMI Services: No est v 52.3 prior
- 08:00 (DE) Germany Dec Preliminary CPI M/M: 0.4%e v 0.2% prior; Y/Y: 1.4%e v 1.3% prior
- 08:00 (DE) Germany Dec Preliminary CPI EU Harmonized M/M: 0.7%e v 0.2% prior; Y/Y: 1.4%e v 1.6% prior
- 08:30 (US) Dec Final PMI Services: No est v 56.2 prelim
- 08:30 (CA) Canada Nov Industrial Product Price M/M: -0.2%e v -0.3% prior; Raw Materials Price Index M/M: -1.8%e v -2.3% prior
- 08:30 (SG) Singapore Dec Purchasing Managers Index: 51.0e v 50.8 prior; Electronic Sector Index: 51.0e v 51.2 prior
- 08:50 (FR) France Debt Agency (AFT) to sell combined 8.5B in 3-month, 6-month and 12-month Bills
- 09:30 (EU) ECB calls for bids in 7-Day Main Refinancing Tender at fixed 0.25%
- 09:30 (EU) ECB announces prior settlements in SMP program to offset bond purchases
- 10:00 (US) Dec ISM Non-Manufacturing Composite: 54.6e v 53.9 prior
- 10:00 (US) Nov Factory Orders: +1.7%e v -0.9% prior

- 10:00 (US) Nov Durable Goods revisions
- 11:00 (US) Fed to purchase $1.0-1.5B in Notes
- 11:30 (US) Treasury to sell combined $54B in 3-Month and 6-Month Bills
- 17:00 (US) full Senate confirmation vote for Fed Chair nominee Yellen
- 19:30 (AU) Australia Nov Trade Balance: -A$300Me v -A$529M prior
- 20:00 (PH) Philippines Dec CPI M/M: No est v 0.4% prior; Y/Y: 4.0%e v 3.3% prior; CPI Core Y/Y: No est v 2.8% prior




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
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

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
The Amazing Trader
Forex Opportunities
Forex Affiliates
Forex CopyTrading
GVI Forex