Â· In equity news overnight, Costco (COST) announced overnight a 10.3% increase
to its quarterly dividend, bringing the dividend up to $0.16. The dividend is
payable May 30, 2008, to shareholders of record at the close of business on May
Siemans (SI) reported a first-quarter net of â‚¬384M overnight, and revenues of
â‚¬18. 1B, while software company SAP (SAP) reported a first-quarter net of â‚¬242M
and revenue of â‚¬2.46B. Siemans shares were higher at the open, while SAP shares
were sharply lower. Elsewhere, Sanofi-Aventis (SNY) reported a second-quarter
net of â‚¬1.86B, and revenue of â‚¬6.9B. Sanofi shares were slightly lower at the
open. Eon [EOA.GE] announced that it will boost its dividend by 22% to â‚¬4.10.
Â· In the newspapers overnight, the Financial Times wrote overnight that
AstraZeneca (AZN) said that it is in talks with the UK government regarding the taxation of
foreign profits. An AstraZeneca spokesman said that the company is in "constructive
dialogue" with the government to ensure that business issues are fully
discussed and understood. According to the Times Unilever (UL) will transfer 14
of its European food brands into a separate company. The brands are
specifically from the UK, France and Germany. The Wall Street Journal wrote overnight
that the Rockefeller Family wants Exxon (XOM) to change its corporate
governance. The family, which is an influential shareholder of Exxon, said that
it plans to support proposals which urge Exxon to create an independent
chairman position and examine if it (Exxon) should take a more active role in
developing sustainable energy technologies. The Times wrote overnight that Time
Warner's (TWX) CEO is expected to announce Wednesday plans to spin-off the
company's cable tv unit. Sweden's Dagens Industri reported that the
country's industrial minister prevented Vattenfall [VATT. SW] from making a bid
for British Energy [BGY.UK].
Â· All was quiet on the energy front overnight. Following a blackout overnight, Venezuela's state oil company said that its main
oil refineries were not harmed by the blackout. The Kuwaiti Oil Minister said
overnight that oil prices soar due to speculation and refinery bottlenecks
adding that oil prices are not driven by supply and demand. As expected, Exxon
(XOM) workers in Nigeria began returning to work as
union/management talks re-commenced.
Â· In currencies a slew of Euro-Zone data provided fresh evidence that EU is
encountering some headwinds on the growth front, as well as a pause in its
inflationary hump. Dealers noted that they encountered some good USD buying
from various types of market players in the session. The USD was firm, but was
still unable to break some key technical levels to achieve additional upside
momentum. The EUR/USD was trading at the lower end of its 1.5510 to 1.5630
trading range. The USD/CHF continued to probe its channel resistance line at
the 1.0430 approach. The JPY maintained a softer tone following the BOJ rate
announcement and the BOJ's lower of its 2008 GDP estimate of 1.5%.
Â· In central bank speak, the ECB's Trichet said in a newspaper interview
overnight that the ECB is concerned that sharp FX moves could hit financial and
economic stability. Trichet added that markets are certainly listening to the
ECB's message on FX. When asked whether or not the ECB will follow the Fed
Trichet reiterated that the US and European economies are different.
Â· On the data front overnight the German ILO unemployment rate declined to its
lowest level on record in March at 7.3%. The German Labor Ministry also
released its jobless figures overnight, which showed a jobless change of -7K,
above the -30K expected; the unemployment rate unexpectedly rose to 7.9%. In
the Euro-Zone, the Apr CPI estimate came in at 3.3%, just below the 3.4%
estimate. Despite remaining above the key 3.0% mark, the data seemed to chop
away at the foundations of the ECB's hawkish stance as it was accompanied by
weaker than expected preliminary CPI data in Italy.
Â· Looking ahead, the economic scheduled in the US is packed this morning, making up for
the data void experienced over the past couple of days. Data will begin with
the volatile ADP employment change for April, which is expected to yield
results of -60K, and is due at . At advanced Q1 GDP annualized q/q, GDP price
index, personal consumption, and core PCE are due, and are expected to come in
at 0.5%, 3.0%, 0.7%, and 2.2% respectively. Shortly thereafter, at , the Chicago PMI for April will be
released, and is expected at 47.5. The most anticipated release today, the FOMC
rate decision, is due at . The overwhelming consensus is for a
25bps cut today, however there are a few analysts forecasting a 50bps cut, and
other forecasting that the FOMC will leave rates unchanged. Earnings will also
be heavy today. In the pre-market earnings results are expected from Colgate
Palmolive (CL), First Solar (FSLR), General Motors (GM), Hess Corp. (HES),
International Paper (IP), Kellogg (K), Kraft Food (KFT), Procter & Gamble
(PG), Reynolds American (RAI), and Time Warner (TWX). In addition to the above,
the Fed is scheduled to make its TSLF announcement at this afternoon.
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Mon 19 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
John M. Bland, MBA co-founding Partner, Global-View.com
Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
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
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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.
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