- Equity indices opened under a cloud this morning after consumer spending made
its sixth straight monthly decline and total 2008 consumer spending was seen
rising a mere 3.6%, the smallest annual gain since 1961. After the bell the
slightly better-than-expected January ISM data helped equities rally, pushing
the Nasdaq into positive territory and helping the DJIA and S&P500 off
their worst levels. Partisan warfare over the stimulus package is heating up
ahead of Senate debate of the Obama administration's bill. Commodities futures
are down slightly, with front-month crude down $0.50 at $41.15 after holding
the $40 mark ahead of the open for floor trade. Gold has seen some profit
taking after it was unable to push above the important technical level of $930.
Treasury prices are the beneficiary of soft equity trade. The 10-year has
traded up about half point for much of the session with its yield dipping below
- US government
officials continue talking about a bad bank plan despite media chatter on
Friday that any bad bank plan was dead. An administration official told CNN
over the weekend that work on a plan was continuing, while an Office of the
Comptroller of the Currency official noted the main obstacle was determining
how to value toxic assets. The WSJ looked at who would benefit from the bad
bank plan, noting that some banks could be forced to recognize large losses
from selling assets at prices below valuations on their balance sheets. On the
other hand, other banks who were more conservative in their asset valuations
could recognize windfall gains from the plan if the government prices exceed
their own valuations, noting that Morgan Stanley and Goldman Sachs could
benefit from the plan. Major banks opened in the red but have been making a run
for positive territory in mid morning trading.
- In earnings news, healthcare names are having a good morning thanks to
Humana. HUM is up 5% after opening down 3% or so; the health insurance firm beat
revenue estimates and reaffirmed its 2009 forecast, although missed on the
bottom line by a bit. Foodservice giant and restaurant bellwether Sysco had a
solid quarter. On its conference call, executives said that the slowdown isn't
hurting restaurants as much as predicted as of yet, although closures are
happening. Mattel dropped 15% after missing estimates, reiterating the oft
heard formula this earnings season of spending cuts and balance sheet defense.
Rockwell cut its 2009 guidance and missed consensus targets, sending the stock
down 20% before the bell before retracing somewhat early on.
- In currencies there was a slow reversal of price movement seen in the Asian
and European sessions as USD and JPY gains eroded. The GBP/USD cross took back
the 1.42 level after testing 1.4050 while the EUR/USD probed toward the
mid-1.28 neighborhood after testing 1.2707. EUR/JPY closed out the New
York morning at 115.40 after probing 113.10 in early Europe.
As risk aversion settled down, European equities moved off their worst levels.
EU Commissioner Almunia said the UK
might join the EMU, noting that there was a good chance the Nordic countries
could join as well. In addition, he said there was zero chance that any country
would leave Euro Zone. A European trade union official accused the ECB of
keeping the euro too strong, putting EU monetary policy behind the curve. The
official noted that public anger was rising.
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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.
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
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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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