User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday January 21, 2015 - 11:11:11 GMT
Trade the News Staff -

Share This Story:
| | Email EU Mid-Market Update: BOE dissenting hawks change view and move back into majority on MPC

Wed, 21 Jan 2015 5:20 AM EST

- Bank of Japan (BOJ) maintains Monetary Base at 80T (as expected); cuts inflation forecast and extended the deadline on loan programs aimed at boosting bank lending
- Hopes of ECB action tomorrow dampened by Nowotny comments
- BOE hawks clip their wings believing now any rate hike would risk persistent low inflation

**Economic data***
- (JP) Japan Dec Supermarket Sales Y/Y: -1.8% v -0.7% prior (10th straight decline)
- (ZA) South Africa Dec CPI data (better); M/M: -0.2% v -0.1%e; Y/Y: 5.3% v 5.5%e
- (UK) Dec Jobless Claims Change (beats): -29.7K v -25.0Ke (25 straight month of improvement); Claimant Count Rate: 2.6% v 2.6%e (lowest level since Jun 2008)
- (UK) Nov Average Weekly Earnings 3M/Y: 1.7% v 1.7%e; Weekly Earnings ex Bonus 3M/Y: 1.8% v 1.9%e
- (UK) Nov ILO Unemployment Rate 3Mths (beats): 5.8% v 5.9%e (lowest level since Jun 2008); Employment Change 3M/3M: +37K v +74Ke
- (UK) BOE Minutes: Voted 9-0 (unanimous) to leaves Interest Rates unchanged at 0.50%
- (UK) BOE Minutes: Voted 9-0 (unanimous) to maintain Asset Purchase Target at 375B
- (CH) Swiss Jan Credit Suisse ZEW Expectations Survey: -10.8 v -4.9 prior

Fixed Income:
- No major events seen

Indices [Stoxx50 -0.3%
, DAX -0.3% at 10,222, CAC-40 -0.5% at 4,425, IBEX-35 -0.5% at 10,229, FTSE MIB -0.1% at 19,636, SMI -1.8% at 8,035, Athens Stock Exchange -1.5%, S&P 500 Futures flat at 2,015]

- Market Focal Points/Key Themes: Equity markets open higher with Thursday's ECB meeting in focus, Nowotny seemingly downplays expectations; Markets later decline led by SMI, as Swiss firms give little clarity regarding outlooks; ASML shares supported by outlook and buyback; Italian cooperative banks continue rally as PM Renzi approved banking reforms; SABMiller Q3 organic lager volumes below ests; Oil companies supported by rise in prices; Hochschild Mining to hedge 2015 silver sales

By Sector
- Technology
[ASML ASML.NL +4% (outlook, buyback); United Internet UTDI.DE -3% (broker commentary)]
- Industrials [Alstom ALO.FR +3% (Q3 sales rose, reaffirmed outlook); SGS SGSN.CH -2.5% (FY adj op income below ests), - HeidelbergCement HEI.DE -2% (broker commentary)]
- Materials [Lonza LONN.CH +2% (FY results in line)]
- Consumer Discretionary [Pearson PSON.UK +2% (reaffirmed FY14 outlook, issued initial FY15 outlook)]
- Energy [Drax DRX.UK -3% (broker commentary)]
- Stoxx50 sectors [Utilities -0.9%, Basic Materials -0.6% Financials -0.5% Telecom -0.3%, Consumer Cyclical -0.3%, Energy -0.2%, Industrials -0.2%; Technology +2%, Consumer Non-Cyclical +0.4%]

- BOE Minutes saw members Weale and McCafferty move to back into the majority on keeping rates unchanged;
They believe there was risk rate rise would prolong period of low inflation (Note: The two officials had pushed for a rate hike since Aug). Further stimulus if bank rate followed market curves. All members were alert to the risk that low inflation might become entrenched. Saw even chance of annual fall in prices during H1 2015. Medium term inflation risks may have shifted upwards
- ECB's Nowotny: ECB meeting will be an interesting one, but nothing to get overexcited about. He reiterated that did not expect deflation in Euro Zone. Harder to fight deflation than inflation, so must watch inflation developments 'closely'
- UBS's Weber (former ECB member): No matter what Draghi does, do not expect to see inflation rates close to target in Europe for years
- Spain PM Rajoy cites tomorrow's Q4 jobless data as sign of recovery
- German BDI industrial Federation forecasted 2015 GDP at 1.5%
- Russia Deputy PM Dvorkovich: Have enough FX reserves and anti-crisis measures in place and reiterated view that Capital Controls not seen as effective
- Russia Central Bank denied press report it planned to cut interest rates in Q1
- Poland Fin Min Szczurek: Too early to assess impact on CHF-denominated loans following SNB abandonment of EUR/CHF floor
- Poland Central Bank's Hausner (hawkish): Better to cut Polish interest rates sooner rather than later. Need not wait for updated staff projections
- Czech Central Bank Gov Singer: Core inflation now 'safely' in positive numbers. Central Banks have the tools to manage inflation at lower zero bound
- Nigeria Traders Body (FMDA) said to call meeting on NGN Currency (Naira) and how to keep market open
- BOJ Gov Kuroda post rate decision press conference reiterated that it's positive economic (virtuous) cycle remained intact; no change in underlying trend in Japan CPI. BOJ to assess risks and adjust policy as needed. Reiterated CPI likely to reach the 2% target in mid FY15/16. Some Board members were cautious in achieving the time frame for inflation target. Falling oil prices should support global growth but limit CPI gains in short-term. NOT considering cutting interest rates paid to excess reserves parked at BoJ
- Iraq Oil Min Adel Abdel Mehdi: No justification for decline in long-term oil prices, believes prices have reached floor

- Hopes of ECB action tomorrow was somewhat dampened by Nowotny comments after he stated that there was no need to get overexcited about the meeting
. The session saw some re-positioning of FX and fixed-income bets to be on the safe side. EUR/USD steady at 1.1565 ahead of the NY morning.
- The GBP currency was volatile in its price action. The GBP/USD hot session lows of 1.5077 after BOE hawks (dissenters) moved back into the majority believing now any rate hike would risk persistent low inflation. The GBP was unable to hit fresh 17-month lows despite the dovish MPC. Cable found some balance after its Dec Jobless claims improved for the 26th straight month. GBP/USD was hovering around the 1.51 level just ahead of the NY morning.
- The USD/JPY was softer in late Asia after BoJ statement did not provide any significant surprises on Japan's QQE program, Kuroda noted during his press conference that it was not considering cutting interest rates paid to excess reserves parked at BoJ. USD/JPY at 117.73, off by approx. 1% from its Asian open

**Political/In the Papers:
- (IT) Italy PM Renzi confirms discussions on the banking sector; discussed urgent measures; approves measures on Popolari banks
- (US) US President Obama State of Union comments: Economy is growing and creating jobs at the fastest pace since 1999; Outlines economic platform called "Middle Class Economics

**Looking Ahead***
All times listed for economic events are denominated in Eastern Standard Time (Add 5 hours for GMT equivalent)
- (CH) World Economic Forum Annual Meeting in Davos (thru Sat)
- (CH) Swiss Government holds weekly Meeting
- (CH) China Premier Li keynote speech at Davos
- (US) EU Foreign Min Mogheriniin Washinton DC
- (BR) Brazil Central Bank (BCB) Interest Rate Decision (no set time); Expected to raise Selic Rate Target by 50bps to 12.25%
- 05:30 (DE) Germany to sell 5.0B in new 0.0% 2020 BOBL
- 05:30 (PT) Portugal Debt Agency (IGCP) to sell combined 0.75-1.0B in 6-month and 12-month Bills

- 06:45 (US) Daily Libor Fixing
- 07:00 (US) MBA Mortgage Applications w/e Jan 16th: No est v 49.1% prior
- 07:00 (UK) BOE's Shafik in Brussels on financial markets
- 07:45 (US) Chain Store Sales
- 08:00 (PL) Poland Dec Sold Industrial Output M/M: -5.3%e v -7.5% prior; Y/Y: 5.2%e v 0.3% prior; Construction Output Y/Y: 4.5%e v -1.6% prior
- 08:00 (PL) Poland Dec PPI M/M: -0.5%e v -0.5% prior; Y/Y: -2.1%e v -1.6% prior
- 08:15 Baltic Dry Bulk Index
- 08:30 (US) Dec Housing Starts: 1.040Me v 1.028M prior; Building Permits: 1.060Me v 1.052M prior (revised from 1.035M)
- 08:30 (CA) Canada Nov Wholesale Trade Sales M/M: 0.0%e v 0.1% prior
- 08:55 (US) Weekly Redbook Sales
- 09:30 (EU) EU's Juncker with Norway PM Solberg
- 10:00 (CA) Bank of Canada (BOC) Interest Rate Decision: Expected to leave Interest Rates unchanged at 1.00%
- 10:15 (CA) Bank of Canada (BOC) Gov Poloz post rate decision press conference
- 11:30 (US) Treasury to sell 4-Week Bills
- 11:45 (NO) Norway PM Solberg with NATO Sec Gen Stoltenberg press conference
- 16:00 (NZ) New Zealand Dec ANZ Job Advertisements M/M: No est v -0.1% prior
- 16:30 (NZ) New Zealand Dec Business Manufacturing PMI: No est v 55.2 prior
- 18:30 (AU) Australia to sell Bills
- 19:30 (TW) Taiwan Dec Unemployment Rate: 3.9%e v 3.9% prior
- 22:35 (JP) Japan to sell 3-Month Bill
- 22:45 (JP) Japan to sell 20-Year JGB Bonds


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 to YOUR charts in real-time.

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

Mon 22 Apr 2019
AA Various- Easter Monday Holiday
A 14:00 US- Existing Homes Sales
Tue 23 Apr 2019
A 1:30 AU- CPI
Wed 24 Apr 2019
A 11:00 DE- IFO Survey
AA 18:00 US- BOC Decision
A 16:00 EZ- EIA Crude
Wed 24 Apr 2019
A 11:00 DE- IFO Survey
AA 18:00 US- BOC Decision
A 16:00 EZ- EIA Crude
Thu 25 Apr 2019
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 26 Apr 2019
A 12:30 US- GDP
A 15:00 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
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 ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105