- Equities: BNP Paribas [BNP.FR] Reported Q4 Net loss of â‚¬1.37B v loss â‚¬838M
expected. The firm cuts its dividend to â‚¬1/shr from â‚¬3.35/shr in 2007. Its 2008
Tier 1 ratio came in at 7.8% compared to 7.6% y/y. It forecasted its Tier 1
ratio to rise to 8.4% after receipt of capital injection from French state. (v
7.6% y/y) || Nestle [NESN.SZ] Reported FY08 Net profit of CHF18B below the
CHF20.2B consensus. It revenues were CHF109.9B slightly below the CHF110.6B
estimates. It saw 2009 Organic Growth at least approaching 5% and improvement
In EBIT margin at constant currencies. It planned to invest around CHF4B in
repurchasing shares|| || Continental [CON.GE] Reported Q4 EBIT â‚¬267.7M versus
â‚¬261.0M consensus. Revenues were â‚¬5.09Be below the â‚¬5.4B forecasts. The firm
noted it would not pay dividend. It Expected markets to decline in a range of
10%-25% in 2009 and has initiated further cost cutting and expects substantial
restructuring. Talks continue with Schaffler and noted it was expected to meet
loan obligations || Reed Elsevier [REL.UK] Reported Preliminary 2008 revenues
of Â£5.33B compared to consensus Â£5.17B. It noted that its term debt maturities
well spaced and that adjusted earnings growth at constant currencies expected
to be positive. It did note a challenging economic environment with its
Business-To-Business markets more impacted || || Tecnip [TEC.FR] Reported Q4
Net profit of â‚¬134M better than the â‚¬99.4M estimates. Revenues were â‚¬1.91B
above consensus of â‚¬1.79B. The firm noted that it had seen significant delays
in non-conventional oil projects coupled with significant delays in US refining
and petrochemical projects || BAE Systems [BA.UK] Reported FY08 Net profit of
Â£1.75B above estimates of Â£1.32B. Its revenues were Â£18.5B also above
expectations of Â£17.9B. It noted that weakness in Sterling FX rates continue
benefit the company. Current order book stood at Â£46.5B compared to year-ago
levels of Â£38.6B and saw further growth in 2009 with strong order book
persisting into 2009 || Swiss Re [RUKN.SZ] Reported FY08 net loss CHF864M
better than the net loss CHF1.02B expected. It cuts its dividend to
CHF0.10/share. Its FY08 premiums earned CHF25.5B compared to CHF31.6B y/y. it
noted that demand for reinsurance products has risen in market || Deutsche post
bank [DPB.GE] Reported FY08 Net loss â‚¬821M slightly better than the loss â‚¬845M
expected. Net Interest Rev â‚¬2.50B above the â‚¬2.33B forecast. It reported Q4
Trading loss â‚¬406M compared to a profit â‚¬24M y/y, Net interest income â‚¬738M v
â‚¬602M y/y || Schneider Electric [SU.FR] Reported FY08 Net profit â‚¬1.68B
slightly below â‚¬1.71B estimates with EBITA at â‚¬2.75B below the â‚¬3.16B
forecasts. Its revenues came in at â‚¬18.31B compared to consensus of â‚¬18.28B. It
proposed raising dividend 5% to â‚¬3.45/share. Guidance for the near term was
difficult as visibility remained low. The company reaffirmed FY09 EBITA margin
view of at least 12% || Man AG [MAN.GE] Reported FY08 Net profit of â‚¬1.25B in
line with â‚¬1.28B estimates. Its operating profit of â‚¬1.73B in line with
forecasts of â‚¬1.72B. Annual revenue was â‚¬14.90B versus â‚¬14.85B estimates. It
saw big decline in 2009 commercial vehicle revenues and return noting that the
2009 Outlook was subject to major uncertainties || Impala Platinum [IMP.SA]
Reported H1 net ZAR5.3B v ZAR4.7B y/y, Sales ZAR16.24B vs. ZAR16.32B y/y - H1
gross platinum production 878K oz (-14.8% y/y), gross refined PGM production
-13% q/q- Does not expect any major recovery in automotive demand, expects the
market to register a small surplus for 2009
- Speakers: BoJ's Shirakawa commented that economic conditions to remain severe
this quarter. Ther was no dissent at today's BOJ decision to leave interest
rates unchanged at 0.10% and that ZERO rates were not discussed. He commented
that lowering overnight rates does not always translate to lower long-term
rates. The BOJ expects CPI to fall in spring as demand weakens. The BOJ's
Corporate bond purchase program could improve market functionality and would
continue to take extraordinary steps as needed. The recent -12.7% Q4 GDP
reading could be revised upwards.|| Japan's government cut its economic
assessment for the fifth straight month. It noted that the Japanese economy was
"Worsening Rapidly" and in a "Severe Situation". The Gov't
also downgraded its views on consumption, exports and the global economy ||
German Chambers of Commerce (DIHK) revised lower its German 2009 GDP to -3.0%
from its November forecast of -0.5% growth. It saw 2009 German exports
contracting by 9.5% y/y, and imports down 5.0% y/y. it did note that the
EUR/USD exchange rate was developing more positively for Euro-Zone exporters ||
Thai Central Bank stated that it could lower its 2009 GDP outlook from current
0% to2% level. It expected the Bah currency to weaken further in 2009 due to
USD strength || German Chemical Association VCI to cut 2009 production outlook
to -3.5% from -1.0% prior forecast . It saw Q4 Production declined by more than
10% q/q, which was the fastest decline in over 30 years. Current capacity
utilization at 75% compared to 82-86% in past years. Lastly it forecasted
industry wide job cuts in 2009 || IMF's Strauss-Kahn reiterated that the
outlook for global economy was 'gloomier' than recent forecasts ||
- In Currencies: The USD was maintaining a softer tone in the session as
dealers note the market was extremely bearish the Euro due to Eastern European
factors. The move by Poland
yesterday to convert EU funds was essentially intervention but not from its
reserves. The EUR/USD was moving towards the 1.27 area on position squaring.
Dealer chatter that a large macro funds closed short Hungarian Forint trades
and Goldman Sachs offseting its CE4 basket trade. Overall, the pressures in
Eastern Europe in particular, and the associated vulnerabilities of Western
European banks, viewed to limit EUR/USD's upside at the 1.2730 area|| The
catalyst for the firmer GBP sentiment in the early part of the European session
attributed to a â€œveiled attack from ECB's Bini-Smaghi in which EU countries
should not allow their currencies to slide in order to gain an economic
advantage|| JPY mixed as dealers note the recent currency weakness
corresponding to the Japan net foreign bond investment up Â¥1435Bin week ended
Feb 14. Japan's government cut its economic assessment for the fifth straight
month || CHF was softer as some concerns over the Swiss bank secrecy reputation
was again tarnished. WSJ reported that UBS would name about 250 account holders
as a result of $780M settlement with IRS ||
- Fixed income: A combination of risk appetite and supply has seen fixed income
exhibit a softer tone in Europe this morning, with short end underperformance
leading to flatter yield curves in both the Eurozone and UK.|| Spain sold â‚¬3.3B
in 7 and 20y Bono's with reasonable results in light of the recent pressure on
Euro-zone perhiperal debt. France
sold â‚¬7.4B in 2,4 and 5y BTAN's and the UK
sold Â£3.25B in 3y Gilts with strong results, the latter pushing Gilt futures
towards their best levels of the morning.
- In Energy: Reportedly most OPEC members are against productions cuts at
coming March meeting but could decide on further 1.6M bpd cut in Q2 of 2009 ||
South Korea's Knowledge Minister: Expects Korea's refiners to export $18.6B
over FY09 v $36.8B y/y || Petroleum Geo-Services [PGS.NO] Reported Q4 Op loss
$27M v loss $15M consensus. Revenues were $462M versus $505M estimate. it
reaffirmed FY09 EBITDA seen at $800-925M compared to $801.9Me ||
*** NOTES ***
- BOJ left its target interest rate at 0.10%, as expected and planned to start
purchasing up to Â¥1T in corporate bonds outright as early as March
- Demand for USD and gold has abated in the session as some pressures recently
exhibited in the Eastern European block has eased a bit. There is speculation
that the EU will devise a plan to assist Eastern European countries to stave
off the fallout from the global economic crisis. The better Norwegian GDP data
and increase in Russian reserves also provided a rational for position unwinding.
- China Central Bank talked down possibility of further rate cuts.
- Looking Ahead:
- 8:00 (PD) Polish Jan Producer Prices M?M:
1.0% expected v -0.5% prior; Y?Y: 2.3% expected v 2.6% prior
- 8:30 (CA) Canadian Leading Indicators M/M: -0.7% expected v -0.6% prior
- 8:30 (US) Producer Price Index M/M: 0.3% expected v -1.9% prior; Y/Y: -2.4%
expected v -0.9% prior. PPI Ex- Food & Energy M/M: 0.1% expected v 0.2%
prior; Y?Y: 3.8% expected v 4.3% prior
- 8:30 (US) Initial Jobless Claims w/e Feb 14th: 620k expected v 623k prior;
Continuing Claims: 4.83M v 4.81M prior
- 10:00 (US) Jan Leading Indicators: 0.0% expected v 0.3% prior
- 10 :00 (SU) Feb Philadelphia Fed: -25.0 expected v -24.3 prior
- (RU) Russian Gold & Forex Reserves w/e Feb 13: No expectations v $383.5B
- (GR) Greek Dec Current Account: No expectations v -â‚¬3.46B prior
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."
Actionable trading levels delivered to YOUR charts in real-time.
Tue 19 June 2018 A 12:30 US- House Permits/Starts Wed 20 June 2018 A 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude Thu 21 June 2018 AA 11:00 GB- Bank of England Decision A 12:30 US- Weekly Jobless Fri 22 June 2018 AFlash PMIs
John M. Bland, MBA co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
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.