- Equities: ASM [ASM.NV] Announced major restructuring in its European unit and
would result in a reduction of 200 jobs (1.6% of the total workforce) . Plan
involves the transfer from Almere, the Netherlands,
of the remaining manufacturing and operational procurement activities for the
Vertical Furnace product line to the Company's Front-end manufacturing
operations in Singapore
over the next 12 months. || Natixis [KN.FR] French press article noted that the
company could report a Q4 loss of between â‚¬500M to â‚¬1B. A company spokesperson
noted there were no plans for a recapitalization but was interested in funds
from new state facility
|| Renault [RNO.FR] Reported FY08 sales of 2.38M units, which was down 4.2% y/y
|| Misys [MSY.UK] Expected to report revenue growth in high teens over H1 of
2008> the firm also stated that its CFO Jim Malone resigned with immediate
effect ||Galapagos [GLPG.BE] Announces alliance with Merck in diabetes withan
upfront payment of â‚¬1.5M || ThromboGenics [THR.BE] Begin a Phase III Program
With Microplasmin for the Non-surgical Treatment of Back of the Eye Disease ||
Eurofins [ERF.FR] Awarded â‚¬10M from DLG contract || Jessops [JSP.UK: Reports
5-week SSS +3.1%; 14-week SSS -5.6%, Reaffirms guidance in line with prior expectations
|| Marshalls [MSLH.UK] Reportd FY08 Revenues of ÂŁ378M compared to ÂŁ403M y/y. It
noioted that its FY Trading results remain in line with current expectations
but was reducing the scale of investment in its consumer initiatives || JD
Sports [JD.UK] Reported 5-week like-for-like sales +2.8% ending Jan 3. It saw
group marginally exceeding FY pre-tax estimates || Rio Tinto [RIO.UK] Chatter
circulating that private equity firms and a Chinese company were expected to
bid for company's Borates and Talc mineral units for $1.2B sale || BBA Group
[BBA.UK] Provides trading statement and noted that its FY forecast was in line
with expectations ||
- Speakers: ECB's Trichet reiterated central bank's policy is to keep inflation
under 2% ceiling || Reportedly Hamas rejected a UN's ceasefire resolution for
the Gaza situation || South Korea Central Bank noted that it would provide $3B
in loans to domestic banks next week using US Fed credit line || China's PBOC
had reportedly eased restrictions on interbank trading and expanded its
interbank bond market. The PBoC removed minimum CNY500M base on interbank bond
offerings || BMW [BMW.GE] Reports December sales at 112.4K units, which was
down 26.4% y/y. its FY08 sales came in at 1.4M units; down 4.3% y/y || Rand
[RAND.NV] Announced a reorganiztion it its French operation in which it would
cut 489 positions and close 85 branches
- In Currencies: The USD was holding a soft tone ahead of its Nonfarm payroll
data later today. The EUR/USD moved above the 1.37 after the Nov retail Sales
data for theEurozone was above expectations and complemented the earlier report
in which German retail sales data came in above consensus in the M/M
comparisons. Elsewhere in Europe, the economic releases
in the session were a mixed bag. The U.K. PPI also came in stronger than
expected in December helping the GBP/USD move back above the 1.52 handle in the
session. However, U.K.
industrial and manufacturing production were markedly weak as was the French
- The JPY was firmer against the major pairs as risk aversion sentiment
continued in the carry-related pairs. USD/JPY probing the mid 90 level ahead of
the NY morning.
-In Fixed Income: (UK)
DMO's Stheeman commented that the recent drop in GBP had not negatively affected
Gilt sales and added that the fall in Sterling
may have increased foreign purchases of Gilts. Quantitative easing was not
declared government policy and that the funding crisis scenario was not in line
with reality. He added that the - Gilt market was "fairly priced".
The DMO remained committed to issuing Long-dated Gilts and that both GEMMs and
end investors suggested strong demand for long end of yield curve. Issuing at
long end of curve remained attractive despite recent steepening. No Syndication
deals planned at this time, but could be considered. Lastly he dismissed the
case for foreign currency issuance ||Bank of America
analysts sees 2009 US Treasury refinancing needs of $2.14T. BOA forecasted that
2010 refinancing needs would be $1.02T; noting that the US Treasury would need
a significant boost in 2009 offering sales ||
- In Energy: Ukraine's Naftogas stated it was not opposed if Russians were
included in EU's gas monitoring detail inside its borders || WSJ discussing the
oil Contango with oil prices has caused daily charter rates for tankers
shipping crude to rise sharply. The article noted that according to the Baltic
Exchange, daily charter rates for shipping crude from the Middle
East to the US
rose by 45% on Thursday ||Endeavor [END] Reportedly made a commercial find at
Cochran 1 well. The Cochran 1 drilled to depth of 16.9K feet; exploratory well
encountered 3 zones of potential natural gas pay ||
*** NOTES ***
- The day is all about US payrolls. On a â€śhistoricalâ€ť note; dealers pointing
out that there has not been two consecutive months with over 500K job losses in
the US since 1940 (U.S. population was about half of what it is now). The
execrated range of â€śdamageâ€ť in this data series is seen between a loss of 350K
to 750K and some murmurs of a possible loss of 1M being discussed on trading
desks. The ADP data earlier in the week was a wakeup call and some discussions
that perhaps its released could have immunized markets from a â€śhorrendousâ€ť
non-farm payroll number today. The US
number will provoke the focus towards the ECB decision next Thursday with a 50
bp rate cut expected as most see ECB policy as being well behind the curve. The
slew of data out of Europe was mixed, but retail sales
for Germany and
the euro-Zone beat expectations.
- 7:00 (CA) Canada Dec Net Change in Employment: -20.0K expected versus -70.6K
prior; Unemployment Rate: 6.5% expected versus 6.3% prior
- 8:15 (CA) Canada Dec Housing Starts: 170.0K expected versus 172.0K prior
- 8:30 (CA) Canada Nov Building Permits M/M: -5.0% versus -15.7% prior
- 8:30 (US) Dec Unemployment Rate: 7.0% expected versus 6.7% prior
- 8:30 (US) Dec Change in Nonfarm payrolls: -525K expected versus -533K prior;
Change in Manufacturing Payrolls: -100K expected versus -85K prior
- 8:30 (US) Dec Average Hourly earnings M/M: 0.2% versus 0.4% prior; Average
Weekly Hours: 33.5 expected versus 33.5 prior
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production
POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision
John M. Bland, MBA co-founding Partner, Global-View.com
Max McKegg's Daily Forex Trading Forecasts
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.