- US equity indices have given up much of yesterday's post-stimulus gains as
corporate earnings and economic data continue to be weak. New home sales in
December fell 14.7% m/m with monthly supply reaching all time highs, while
December durable goods orders were down more than expected and the November
reading was revised downward significantly. March crude looked to be making a
run at $40 early in the NYMEX session but has since recovered somewhat. The
contract remains lower by 2% though at $41.30 after the IEA lowered their
demand outlook. Treasury yields remain on an uptrend consolidating the large
move seen at the long end of the curve following yesterday's FOMC statement.
The curve remains steeper with the benchmark spread back above 180 basis points
and the long bond yield approaching 3.45%.
- Allstate missed earnings and revenue expectations in a big way yesterday
evening, earning itself a ratings downgrade at S&P. The insurance giant alsp
suspended its share repurchase program and said it would cut 2.6% of its
workforce. Shares of ALL are down more than 20% in early trading.
- Ford managed to beat fourth-quarter revenue targets and squeeze out a loss
that was smaller than expected, ex certain charges for restructuring and loss
provisions. In its release, the shaky automaker reiterated that it doesn't need
any Federal funding, confirming that it has drawn down its credit lines to the
tune of $10B. On the conference call, Ford lowered its first-quarter North
American production estimate to 400K; it had affirmed a 430K as recently as
December. Several major auto industry parts suppliers also reported this
morning, including Lear and Autoliv. LEA's earning were a complete disaster,
although the big loss was largely driven by a big goodwill impairment; revenues
were in line. ALV missed earnings and revenue estimates by large margins and
cut its dividend in half. Automobile retailer AutoNation missing revenue
targets by around 10%, noting that sales collapsed in the quarter. AN's CEO
warned that orders for new vehicles are down 60% in February. Shares of Ford
are only down 2% or so, AN is up more that 10%, while ALV-2% and LEA-10%.
- In technology, Qualcomm is down more than 6% after missing earnings estimates
yesterday evening, although the firm beat the consensus revenue view. DELL-4%
announced more cost cutting plans and said it sees a Q4 $135M pretax charge.
Electronics manufacturer Flextronics fell 10% before the bell after missing
earnings estimates and guiding well below par for Q4, but has retraced much of
these losses in early trading. Western Digital is rocketing, with shares up 10%
after the hard drive manufacturer blew out the street on the bottom line
- Manufacturing names Illinois Tool Works and Textron both beat consensus
earnings estimates and reported revenue totals in line with the Street. ITW
offered a very broad 2009 EPS forecast that was nevertheless below the
consensus view. Textron also missed earnings and revenue targets for its 2009
forecast; shares of TXT plunged 25% from the open, while ITW-5%.
- Dry bulk shippers are under pressure this morning after DryShips discussed
its exposure to the spot shipping market in a filing yesterday. DRYS noted that
12 of its vessels are trading in the spot market, warning that the huge
declines in the Baltic Index and potential further declines could hurt the
company's top line. In addition, it noted it is in breach of covenants with
certain lenders. DRYS is trading down 23%, while fellow dry bulk names EGLE,
DSX and GNK are down 5-8%.
- US Airways, Continental Airlines and JetBlue reported better-than-expected
results this morning. US Airways' loss was smaller than expected, while its
flight metrics held up well compared to year ago levels. JetBlue eked out a
profit, versus expectations for a small loss, and said it grew CASM 17% y/y.
Continental's loss was a bit smaller than expected, ex charges. JBLU and LCC ar
bog up aroud 5%, while CAL has
fallen into negative territory. Elsewhere in leisure, cruise line RCL-20% is
getting hammered after missing earnings targets and offering a very weak
forecast for next quarter.
- In currencies, the greenback was mixed in New York
trading. EUR/CHF was quite active after the SNB's Roth prompted decent CHF
buying after he noted that there was no need to curb CHF strength at this time.
He did note that recent CHF appreciation has been painful for Swiss exporters.
The USD was firmer against the EUR on continued concerns that the new upper limit
imposed by the Russian Central bank last week would be tested far sooner than
expected. USD/RUB exhibited its largest two-day price move in a decade, while
Russian FX reserves declined by $10B w/w according to the latest data. The
weaker US data
had global implications in terms of safe-haven flows. Both the USD and JPY
benefited from risk-aversion flows while gold moved back towards the $900/oz
level to recoup earlier lows below $880/oz.
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.
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.
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.