Â· In equity news overnight Clorox (CLX) boosted its quarterly dividend by 15%
overnight to $0.46/share and announced a $750M share repurchase authorization.
BNP Paribas [BNP.FR] reported a Q1 Net of Â¬1.98B overnight, above consensus
estimates of Â¬1.62B, and a loan loss provision of Â¬546M, down from the Â¬898M in
Q4. European Aeronautic Defense [EAD.FR] reported a Q1 Net of Â¬285M, well above
the Â¬210M consensus overnight, and revenue of Â¬9.9B, above the Â¬9.2B estimate.
The company said that it has not yet determined the financial impact of the
A380 delays. ArcelorMittal (MT) reported its Q1 Net at $2.37B overnight, just
below the $2.54B consensus. Revenue was in line with expectations at $29.9B.
Sainsbury [SBRY.UK] reported FY07 revenue of Â£19.3B, above the Â£17.8B
consensus. Net income was in line with expectations at Â£333M. Bradford and
Bingley [BB.UK] confirmed a Â£300M rights issue overnight, noting that it is
trading in-line with its mid- April update.
Â· In the newspapers overnight the Financial Times wrote that JP Morgan (JPM) is
expected to take a charge of about $9B to clean up Bear Stearns' balance sheet.
The charge will also be for redundancies and litigation costs arising from its
buyout of Bear. The Financial Times reported overnight that Lonmin
[LMI.UK]plans to sell its pension liabilities to Paternoster. The Wall Street
Journal reported overnight that some directors at AIG (AIG) may re-evaluate support
of CEO Sullivan if the company posts another big loss The Wall Street Journal
wrote overnight that Lloyds [LLOY.UK] does not expect "massive"
subprime- related claims for the rest of the year, citing an interview with the
company's chairman. The Times wrote overnight that Credit Agricole [ACA.FR]
plans to scale down its investment banking unit.
Â· Things were relatively quiet on the energy front overnight, however,
According to wire reports overnight Nigerian gunmen hijacked an oil services
vessel. Follow- up reports indicated that the vessel was carrying oil for
Chevron (CVX). According to the Nikkei Press, officials from the US and Japan to meet on Thursday to discuss ways
promote Japanese oil exports to the US.
Â· In new supply overnight Italy sold, Â¬2.0B in 5.00% August 2039 bonds
with an average yield of 5.14% and a bid-to-cover of 1.39x, and Â¬4.0B in 4.25%
April 2013 bonds with an average yield of 4.29% and a bid-to-cover of 1.43x. In
related news the Financial Times wrote overnight that a consortium of
investment banks are close to an agreement to sell much of the Â£9B of debt
related to the Alliance Boots buyout. The Financial Times noted overnight that
the Fed is reconsidering the way it deals with asset price bubbles, noting that
the move could see the central bank using regulation or even interest rates to
fight unjustified increases.
Â· In currencies, the USD gained across the board versus the majors. The GBP/USD
tested its key support level of 1.9390 throughout the European session. Dealers
continued to stress that GBP remains vulnerable to a deteriorating medium-term
economic growth outlook, as well as current account and public sector deficits.
Chatter circulating of an exotic option exposure at 1.9400 level and added that
large 1.9400 option strikes roll off at today's NY cut. The EUR/USD tested the
1.54-handle. Dealers continued to cite the US-Germany 2-year note spread favors
a stronger USD for the time being. Dealers noted that the 2-year spread is
around -133bps v -150bps a day ago. The JPY was softer across the board as
chatter circulated that a hedge funds was ''seen'' exiting its Asian exposures
across asset classes (currencies, bonds and stocks). JGB's were broadly lower
on inflation concerns.
Â· In central bank speak overnight non- voting Fed member Evans said overnight
that continued weakness in real GDP seen over near term. Evans said that
economic conditions are expected to improve in H2 of 2008, adding that core
inflation projected to improve over medium term. Former Fed Chairman Greenspan
said overnight that the US is showing surprising resilience, adding
that high oil prices will continue and US house prices still long way to fall.
In the quarterly inflation report released overnight the BOE said that they see
an overshoot in CPI if rates reach 4.50%. The BOE added that CPI may peak at
3.8% by Q4, and will overshoot the 2% target for two years. The BOE said that
growth risks are on the downside and inflation risks are on the upside, adding
that CPI is expected to exceed 3.0% for several quarters.
Â· Preliminary Spanish GDP for the first-quarter was lower than expected
overnight and declined to its lowest q/q level since Q3 of 2000. The y/y
reading was the lowest since Q4 of 2002. French CPI data for the month of April
was in line with expectations with both the headline and harmonized y/y
readings posting declines, but remaining around the 3.0% mark. In the UK jobs data was roughly in line with
expectations while the average earnings including bonus for the month of March
beat out expectations. Euro-Zone industrial production for March was mixed, but
roughly in line with estimates.
Â· Looking ahead, focus in the US this morning is likely to rest upon the
April CPI due out ahead of the equity market open. Headline CPI is expected at
0.3% m/m and 4.0% y/y; while the ex-food & energy reading are expected at
0.2% m/m and 2.4% y/y. In Fed speak the Fed's Kroszner and Rosengren are both
due to speak on Basel II at a conference in Boston. The Fed's Lockhart is due to speak at a
financial markets conference this afternoon, while the Fed's Yellen is
scheduled to speak about what happens behind the scenes at FOMC meetings.
There are a few notables expected to report earnings in the pre-market today
including Deere & Company (DE), Freddie Mac (FRE),
and Macy's (M).
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
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 to YOUR charts in real-time.
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
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.