-Equities: Kaufman & Broad [KOF.FR] Reported FY revenues of â‚¬1.17B versus
â‚¬1.25B estimates. It secure an additional â‚¬75M credit facility and noted that
it had suspended dividends until 2012 || Lafarge [LG.FR] Considering strategic
options for its Turkey operation || Yule Catto [YULC.UK: Signed a new three
year loan facility of Â£30M with its principal banks. Loan replaced existing
revolving bank loan facility maturing in Nov of next year. The company also
suspended payment of dividends || X 5 Retail [FIVE.UK] Acquired franchisee in
Rostov, Russia for RUB400M || Lottomatica [LTO.IT] Gtech unit was awarded $105M
New Jersey State lottery contract || Linde [LIN.GE] Awarded engineering JV in
India with its share of the venture valued at â‚¬350M || Vestas Wind System
[VWS.DC] Awarded 100MW order in China || GDF Suez [GSZ.FR] Reported a gas find
in Anethyst Field located in North Sea || Sea Drill [SDRL.NO] Took delivery of
deepwater drillship West Capella
- Speakers: German Fin Min Steinbrueck commented that the size of government
stimulus package was still undecided in a press interview. Comments in reply to
whether package would cost â‚¬25 to â‚¬40B || French Econ Ministry commented that
the current market conditions do not allow for the 'satisfactory' sale of
public assets || Czech Central Bank Chief Tuma noted in a newspaper interview
that Czech Central bank has room to cut rates to zero from current level of
2.25% || Reportedly Polish Gov't advisors see 2009 GDP at 3,1% or less versus 3.7%
official forecast ||China raised tax rebates for motorcycles to 14% from 11%
prior, increases tax rebates on for 553 products effective Jan 1st || Chinese
Stats Office saw 2008 GDP growth above 9% level || Taiwan MOF stated that the
Tax reform panel approved corporate tax cut from 25% current rate || French
Public Debt increased by â‚¬15.6B in Q3 to 66.1% of GDP according to INSEE ||
- In Currencies: The USD was softer against the major currency pairs but the
the session was all about safe haven theme. CHF gains on the back of safe haven
flows due to the conflict in the Middle East. The GBP
remained weak for the most part. UK
households the prior Q2 data had shown that repayments exceeded new borrowing
for the first time in a decade and the trend continued in Q3. EUR/GBP continues
to probe fresh all-time highs with the 0.97 giving way in today's session with
expectations that the run on parity would continue at least in the very
near-term. . || Russia devalued the currency for the 12th time in seven weeks
after the government forecasted its first budget deficit in a decade last week
- Energy: IEA Chief Economist commented that he expected oil price to climb to
$100/barrel by 2010-2015 period || Reportedly Nigeria arrested suspected
militant leader Jackrich || Israeli Def Min Barak stated in a speech to
Parliament that Israel moves with 'determination' towards objectives and would
fight 'to death' with Hamas. He added that Israel
is not at war with the with people of Gaza
but noted Israel
has set its objective in Gaza
strip, which is now a closed military zone ||
- Commodities: Spot gold breaks above 880 level at the open in Asia.
|| Feb Crude oil futures surged above the $42.00 per barrel (over 10% at one
point) in reaction to comments from Israeli defense Minister Barak which noted
that Israel would fight to the 'death' against Hamas. Oil remained above the
$40 per barrel as the NY morning approached, but off its best levels in the
electronic session. Dealers also citing that OPEC members have begun complying
with agreed output cuts, also helping the contract rebound four-year lows set
- Credit Crisis: Banks in the UK
may face as much as Â£70B in writedowns related to losses on commercial property
loans according to a report from the Telegraph. The article noted that the
losses could lead to more banks being nationalized in the UK || UAE Residents
Feel Credit Crunch Impact according to a Bayt/YouGov Survey as consumer
confidence dropped for the third time this year ||
- The Safe haven flows was the overall theme during the European morning. Gold
and CHF were purchased from the getgo in Asia. Oil was
firmer but spiked above $42/barrel after Israeli defense minister stated that
the country would fight to the 'death' with Hamas, thus Israel
threatened escalation of fighting in Gaza.
terminates $17.4B joint venture with Dow Chemical noting that downturn in the
economy coupled with a fall in oil prices has made the K-Dow joint venture
-UK Dec House Prices were down a record own 8.7% y/y according to Hometrack.
Another data series showing that UK
households are making repayments rather borrowing against its housing equity
- Thin market conditions prevail as the calendar year winds down.
- 11:30 (IS) Israeli Base Rate Decision: Expectations of a 50bps interets rate
cut to 2.00%
- (GE) German Dec CPI-Baden Wuettemberg: M/M: No expectations versus -0.5%
prior; Y/Y: No Expectations versus 1.6% prior
- (GE) German Dec CPI-North Rhine West: M/M: No expectations versus -0.6%
prior; Y/Y: No Expectations versus 1.1% prior
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Mon 19 Feb 2018
00:00 CN, US- Holiday Tue 20 Feb 2018
00:00 CN- Holiday A 10:00 US- ZEW Survey Wed 21 Feb 2018
00:00 CN- Holiday A All Day flash PMIs A 15:00 US- Existing Homes Sales A 15:30 US- EIA Crude AA 19:00 US- Fed Meeting Minutes Thu 22 Feb 2018 A 09:00 DE- IFO Survey A 09:30 GB- GDP AA 13:30 CA- Retail Sales A 13:30 US- Weekly Jobless Fri 23 Feb 2018 A 10:00 EZ- Final HICP AA 13:30 CA- CPI
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.
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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.
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