- March crude has popped as much as 6% to trade back towards $36 after OPEC
said in their monthly report the saw oil demand falling by 580K bpd v the 180K
bpd forecast prior, making for their the sixth straight revision lower. Traders
are focusing on the March contract taking back some dramatic increases in
spreads recently seen across the curve. Front-month gasolline is lower by more
than 2% paring some of the substantial widening that has been seen in crack
- Leading US financial stocks are struggling to participate in upside, with
Morgan Stanley, JP Morgan, Bank of America and Wells Fargo all down 2-4% in
early action. Goldman and Citi are exceptions, with shares of both banks in the
black mid morning. Investors should note that across the pond UK
banking giant Lloyds warned that its HBOS unit would reports a substantial loss
of ¬£10B for 2008 and that its impairments for HBOS would be larger than
initially estimated. Lloyds still expects to be profitable in 2008, however.
Overnight the Wall Street Journal commented on the Treasury's plan to conduct
stress tests of banks, noting that the new effort could force banks recognize
credit losses faster, which would lead to dillutive capital raises and the need
for further increases in reserves.
- In other equity news, Pepsico reported in line with analyst estimates and
offered a positive forecast for 2009, although big y/y declines were reported
in its US and European units. The CEO warned that the first half of 2009 would
be a big challenge. Shares of Abercrombie & Fitch are up 10% after the
apparel retailer managed to beat the Street, although it refrained from
offering any guidance for 2009 due to the crisis. China Security is off 9%
after filing a big mixed securities shelf, while YRCW+10% after working out a
financing deal with lenders.
- In currencies the Lloyds trading update pulled the upside momentum out from
under European equity markets and Sterling
saw earlier gains erode against major pairs. GBP/USD was over 200+ pips off its
session highs of 1.4605 before the New York
open, moving below 1.44 as US equities commenced trading. JPY was broadly
weaker as dealers noted some evidence of position squaring ahead of the G7
summit. USD/JPY is probing the 92 handle, while the EUR/JPY tested the mid-118
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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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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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