- US equity markets have received a sizable boost from lower energy prices
after preliminary reports from the Gulf indicate only minimal damage from
hurricane Gustav. October crude traded with a 105 handle briefly in the
overnight session before climbing back above $109. Front-month natural gas
ticked below $7.25 before recovering somewhat. Commodity markets were also
weighed down by fresh one- year lows in the Euro and two-year lows in Cable.
The effects of lower oil prices in stocks are evident by the strength in most
consumer related names as well as the outperformance in the Dow Jones
Transportation average. Bids in the airlines, truckers, railroads, and
bellwether freight names pushed the Transportation average up as much as 3%.
Shares of Google are higher after reports of an upcoming launch of a new web
browser to compete with Microsoft. On the downside lower commodity prices are
weighing on the oil patch as well as mining stocks. The OIH is trading back
below $180 while XOM, CVX, and AA are the only Dow components in the red.
Arcelor Mittal's South African unit announced several price cuts over the
weekend while a WSJ article highlighted multiple factors leading to margin
compression in the production of nickel and zinc. US Treasury prices began
lower with the 10-year note future off nearly half a point at the open, but
markets have recouped all their losses as equities have given retreated to
session lows. The 10-year now trades up close to a quarter of a point with its
yield falling back below 3.8%.
- In currencies, the USD continued to benefit from the lower oil prices.
Dealers are keeping a wary eye on a number of potential storms are brewing in
the Atlantic region. The greenback ended the morning off its best levels as
dealers noted some covering of intra-day shorts in pair following the ISM
employment component. Dealers are noting that the main focus will be now
directed toward the ECB meeting on Thursday and the US employment report on Friday.
- The GBP was the weakest currency pair as concerns deepen about the UK economy and impacted the value of the
pound. The GBP/USD cross tested below the 1. 78 handle during the New York morning. UK Treasury raised its stamp
duty threshold on house purchases to Â£175K from Â£125K. UK Exchequer Darling
noted that the housing package is a significant aid for the market and remained
positive that the UK will overcome the economic slowdown
despite the unprecedented economic challenges. Darling noted that sterling has
been declining over a year and that FX rates do continuously fluctuate.
- The AUD probed below the 0.83 level in the aftermath of the RBA's first
interest rate cut in seven years. Dealers are concerned that RBA ease might not
be as aggressive as hoped for.
- Sept Bunds -59 ticks at 113.93; Sept Gilts -57 ticks at 109.17. Lower oil
prices continue to boost European equities. Euro Stoxx 50 +1.5% at 3,416; FTSE
100 Index +0.2% at 5,615; CAC 40 Index +1.5% at 4,540 and DAX Index +1.6% at
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Mon 26 Feb 2018 A 15:00 US- New Homes Sales Tue 27 Feb 2018 A 08:55 DE- Jobless B 13:30 US- Durable Goods A 15:00 US- CB Consumer Confidence A 15:00 US- Pending Homes Sales AA 15:00 US- Powell House Testimony Wed 28 Feb 2018 A 10:00 EZ- flash HICP AA 13:30 US- GDP A 15:30 US- EIA Crude Thu 1 Mar 2018 A All Day final Mfg PMIs A 13:30 US- Weekly Jobless AA 13:30 US- Core PCE Deflator AA 15:00 US- Powell Senate Testimony A 15:30 US- EIA Crude Fri 2 Mar 2018 AA 15:00 US- final Univ of Mich
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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.
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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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