- The surprisingly positive US advanced retail sales data has failed to aid
equity trade in the early going, as investors fix on the worsening unemployment
numbers and uncertainty over bailout and stimulus plans. Although the 1.0%
increase in retail sales was the biggest rise since November 2007, many are
dismissing the uptick as a dead cat bounce fueled by panic discounting. And
last week's jobless claims data was revised to 631K, making it the highest
reading since October 1982. To top it all off, the large than expected decline
in December Business inventory data suggests more downside for the Q4 GDP
revision set for Feb 27. Treasury markets are marginally higher on the soft
equity action. The Long bond yield is sitting just below 3.5% ahead of this
afternoon's $14B 30-year auction results.
- Equity traders continue to keep a close eye on commodity markets, especially
gold. The April contract tested $950 briefly about a half hour from stocks putting
in their morning lows. In the oil markets traders remain focused on widening
spreads across the curve and between products. March crude has slipped another
3% to dip below $35 while gasoline is up another 2%. The April contract has
traded at more than a $7 premium to the crude contract, and the Dec is roughly
$20 above March.
- A continuing lack of clarity on the administration's plans for cleaning up
toxic assets seems to be forcing down shares of the leading US
banks after they bounced back somewhat yesterday. Citi, Bank of America and JP
Morgan are down 6% while Wells Fargo is down more than 8%. Health insurance
leader Aetna beat earnings and revenue estimates slightly, but investors are
disappointed by the firm's 57% y/y profit decline, sending shares of AET down
more than 4% before recovering mid morning. Fellow insurer Hartford informed
investors it is ineligible for more commercial paper borrowing following
ratings downgrades from Moody's and S&P earlier this month, forcing it to
file a big $3B ASR. Shares of HIG are down nearly 10% in the early going.
- Dow component Coca-Cola came in a bit ahead of earnings estimates while
missing revenue targets; shares of KO+4% are strong in early trading. Hotel
giant Marriott missed top and bottom line missed top- and bottom-line
estimates; it also guided below par for the coming quarter and the full year.
MAR fell 6% before the open but has come off its worst levels mid morning.
Shares of auto components firm BorgWarner started out underwater but are headed
straight up +5% in early trading after the firm beat consensus EPS forecasts
and said it expects positive earnings in 2009. JA Solar is down 10% or so after
cutting its 2009 forecast, dragging solar sector ETF TAN down around 2%.
- Currency trading has been rocked by chatter and rumors of option barriers,
alleged stops and key players placing big orders. USD/JPY hit the 89.90 level,
below which the chatter called for USD sell stops, although this talk was
offset somewhat by bids from Kampo, the Japanese Postal System. The level was
tested before the USD rose back to 90.45. GBP/USD centered on rumors of large
GBP sell-stops building below the 1.4120 level. The session low was 1.4137,
with the pair bouncing a big figure to trade around 1.4230 in the New
York session. EUR/USD was all about the 1.27 level.
Dealer chatter insisted that 1.2700 was the lower part of a 1.27/ 1.37 Do No
Touch (DNT) option barrier with a â‚¬10M payout. The option is rumored to expire
at the New York cut on Friday.
Note that the euro has been on the defensive following the Euro Zone Industrial
data, which registered its largest annual decline on record.
- Eastern European currencies continued to limp along. EUR/CZK tested its
highest level in 18 months, while the ruble managed to keep under the 41
ceiling against its basket. Dealer chatter circulated that the Russian Central
Bank sent commercial banks a letter warning against misusing government bailout
cash to bet against the ruble. Meanwhile the Russia's
Central Bank's reserves declined by almost $5B in the week.
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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
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Forex News Real-time forex market news reports and features providing
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Actionable trading levels delivered to YOUR charts in real-time.
Mon 12 Mar 2018 A 17:00 US- 3-Yr Auction Tue 13 Mar 2018 A 10:00 DE- ZEW Survey AA 12:30 US- CPI A 17:00 US- 10-Yr Auction Wed 14 Feb 2018 AA 12:30 US- Retail Sales A 12:30 US- PPI A 14:30 US- EIA Crude A 17:00 US- 30-Yr Auction Thu 15 Mar 2018 A 12:30 US- Weekly Jobless A 12:30 US- Philly Fed, Empire PMI A 12:15 US- Industrial Production Fri 16 Mar 2018 A 10:00 EZ- final HICP A 12:30 US- Housing Starts/Permits A 14:00 US- prelim Univ of Mich
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.
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