- US equity
indices are making solid gains this morning after the ADP employment and ISM
non-manufacturing data came in less bad than expected and the Baltic index
jumped 15%. Investors were further heartened by the downward revision to last
month's ADP data, although the Challenger index of planned job cuts painted a
darker picture, jumping 45% m/m to its highest level since 2002. Note that the
big rise in the Baltic was its 12th consecutive gain and its largest daily rise
in nearly 24 years, sending shipping stocks up by double digits, with EGLE
- The US Treasury's quarterly refunding announcement came in at an all-time
high of $67B this morning. A Treasury official tried to market fears regarding
the implications of the US
hitting its debt ceiling again in the first half of 2009, noting that the US
debt to GDP ratio would still be relatively low compared to other G7 countries
if this happened. Keep in mind that back on Sept 23, the Treasury Secretary
Paulson had been planning to ask Congress to raise the US
debt ceiling to $11.3T, leading dealers to note that the 2009 deficit could
rise above $1T. Elsewhere in fixed income, an S&P report noted that 936
issuers of global bonds were poised for potential downgrades, compared to 687
issuers a year ago. S&P said this metric was at its highest level in 41
months and that potential downgrades have more than doubled compared to the
number of companies poised for upgrades. On a separate note, S&P also cut
their rating for the state of California's
lease revenue bond SPUR to A-. Treasury yields ticked higher heading into the
funding announcement, but initially the news appears to be price in as prices
are now paring losses. The 10-year note future is still down more than half a
point and the cash yield is testing 2.9%, holding at the highest level in more
than 2 months.
- Leading US bank stocks are making gains in early trading thanks to all the
optimism this morning, with Citigroup notably rising 5%. Bank of America is not
participating, however, with shares of BAC down 4% as reports continue to
circulate that the merger process with Merrill Lynch is not progressing
smoothly. Last night media reported that the US
plans to impose salary limits on companies who take TARP funds, with salaries
limited at $500K and any compensation above this amount limited to restricted
stock that vests only after taxpayers are paid back. In addition, companies
that already received Treasury funds must agree to stricter oversight going
forward. Metlife is off its best levels after trading up more than 6% just
after the bell. The insurance giant beat the street, noting that business
remains strong. Fellow insurance name Aflac missed estimates but has managed to
stay in the black in trading today.
- Dow components Disney and Kraft Foods fell off a cliff before the open,
dropping 6% and 8.5%, respectively, with little sign of recovery in mid morning
trading. Both companies missed consensus estimates, and KFT also guided 2009
earnings below par, noting on its conference call that dollar strength was
presenting a major obstacle. Shares of Eastman Kodak dropped into the red in
early trading before recovering mid morning after the company released dim
revenue guidance for 2009, noting that it sees big declines in digital
revenues. Engineering group ITT beat top and bottom line estimates and
reaffirmed 2009 earnings earlier. It reserved the bad news for the conference
call, when the company said it would miss targets in the first quarter. Time
Warner missed analyst estimates, taking shares of TWX down 4% early on,
although the name has retraced back toward positive territory mid day. Time
Warner Cable beat on earnings (ex items) and indicated it was considering a
reverse stock split, sending TWC from -4% to +6% before 10amET, before trading
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."
Actionable trading levels delivered to YOUR charts in real-time.
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.