In equity news overnight American Ecology (ECOL) announced a 20% increase to
its quarterly dividend, bringing the dividend up to $0.18/share. Bunge (BG)
announced an 11.8% increase to its quarterly dividend, bringing the dividend up
to $0.19/share. AtheroGenics' (AGIX) ARISE trial results published in the
Lancet show that the study missed its primary endpoint in diabetes. Expro
[EXR.UK] has received a ¬£1.7B or ¬£15.25/share cash bid from Halliburton. Recall
that on 5/18 the Telegraph wrote that Halliburton (HAL) may was mulling a ¬£1.8B
for the company. British Energy [BGY.UK] announced overnight that talks with Suez [SZE.FR] have ended.
¬∑In the newspapers the Wall Street Journal's Heard on the Street section looked
at Lehman's (LEH) reliance on one-time gains overnight, noting that some
investors are questioning Lehman's earnings report from the prior quarter as
some are asking whether its profit was due to some one-time items. According to
Cinco Dias, Cintra Concesiones de Infraestructuras [CIN.SP] holder Grupo
Ferrovial [FER.SP] boosted its stake in the company from 65% to 68%. According
to a piece in FT Alphaville Friends Provident [FP.UK] In talks with bidders for
the sale of its 52% stake in F&C.
¬∑In energy news overnight ENI's (E) Indonesian unit announced that it has been
awarded exploration rights for a block in part of Indonesia's Kasuri oil area, while Cnooc (CEO) was
awarded exploration rights for the South East Palung Aru block. The Wall Street
Journal noted overnight that part of the recent rise in oil prices is due to
short covering by energy producers and others betting against a decline in
prices. The article said that some oil producers who entered into futures
contracts to sell oil are finding they locked in prices at as little as half of
what oil currently trades in the spot market. The article adds that some
speculators misjudged the top of the oil market. The Wall Street Journal wrote
overnight that some US lawmakers are looking to end bans on
domestic drilling. Oil drilling is not currently allowed on most of the waters
off of Florida's coast, the East coast and the West
Coast. In the Independent Jeremy Warner wrote that oil prices will eventually
decline, but not without considerable collateral damage. As the world economy
slows, Warner wrote, the best guess remains that oil and other commodity prices
will follow the usual cyclical pattern of eventually falling back to more
affordable levels. As energy and fuel bills rise, consumption is likely to
suffer across the board, threatening a return to the "stagflation" of
the 1970s. Even so, the West isn't as dependent on oil as it was back then and,
as I say, per capita consumption of energy in the developed world is already so
high that it can easily be reduced without causing undue hardship. The pain
caused in the developing world is, on the other hand, likely to be much more
extreme. Here there is little room for reduced energy consumption. As higher
energy and food prices eat into already squeezed family budgets, there is the
threat of serious economic and social dislocation. As with all bubbles, it is
impossible to know when prices will correct. The oil price could as easily go
to $200 a barrel before once more returning to earth. Yet return it certainly
will if it succeeds in pushing the global economy into recession.
¬∑In fixed income related news, according to the Financial Times, Pimco's Gross
has almost tripled his holdings of mortgage debt to more than 60% of his fund.
Gross said he has decided to invest more in mortgage debt due to the US government's implicit guarantee of
Freddie Mac and Fannie Mae. The Financial Times noted overnight that UK banks
are moving away from lending to commercial property developers leading to
increased margin calls. The Telegraph wrote overnight that Economists continue
to doubt the strength of UK retail sales data, noting that some
economists believe that official data is providing a rosier picture than
reality. Some economists believe that official retail sales figures are failing
to capture the impact the credit crisis is having on the consumer. The Royal
Bank of Scotland updated its ECB rate forecast overnight
and now predicts that the ECB will hold rates in 2008, and cut rates in 2009.
¬∑On the speaker front, according to wires citing a newspaper article, the ECB's
Weber reiterated overnight that he sees no Leeway for an ECB rate cut. The
French budget minister said overnight that France is not immune from a US slowdown, adding that Euro FX movements
have calmed down. The EU's Almunia said overnight that he sees Euro-Zone
inflation levels around 3.0% in 2008. The ECB's Bonello said overnight that it
is important that wage demands do not lead to an inflation spiral, adding that
the ECB sees inflation rising in 2008, and closer to 2.0% in 2009.
¬∑On the data front the French consumer spending data for the month of April was
notably lower than expected with the y/y reading falling to its lowest level
since November of 1997 on the back of declines in both the cars, and the
textiles/leather components. Preliminary first-quarter GDP in the UK was in line with consensus expectations
at 0.4% q/q and 2.5% y/y. First quarter exports were 0.0%, below estimates of
1.0%, while imports were -0.6%, below estimates of 0.5%.
¬∑Looking ahead, things are pretty quiet ahead of the extended weekend. On the
data front April existing home sales data is due out at . There is no new supply scheduled in the
US today, nor are there any central bank
speakers scheduled. Furthermore, no notable earnings reports are due this
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.
Tue 31 July 2018 AA JP- Bank of Japan A 06:00 DE- Retail Sales A 09:00 EZ- flash HICP/GDP AA 12:30 US- Core PCE Deflator A 14:00 US- CB Consumer Confidence Wed 1 Aug 2018 A Final Mfg PMIs AA 12:15 US- ADP Private Payrolls A 15:00 US- EIA Crude AA 18:00 US- Federal Reserve Decision Thu 2 Aug 2018 AA 11:00 GB- Bank of England Decision A 13:30 US- Weekly Jobless Fri 3 Aug 2018 A Final Services PMIs AA 12:30 US- Employment A 12:30 US/CA- Trade
John M. Bland, MBA co-founding Partner, Global-View.com
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.
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.