- Equities: Royal Bank of Scotland [RBS.UK] Reported FY Net loss of Â£24.1B
compared to consensus estimates of a loss of Â£25.9B. Its revenues were Â£21.1B
slightly below expectations of Â£22.7B. It confirmed its intended participation
in HM Treasury's APS scheme. Its FY08 impairment loss was Â£8.1B. Tier 1 capital
ratio 9.9%; Core tier 1 Capital Ratio 7.0% (guided FY08 Group tier 1 ratio at
6.9-7.4% on 1/19). It would seek to wind down/sell Â£240B in assets over 3-5 years
|| Lloyds [LLOY.UK] Confirmed ongoing talks with UK Treasury over Asset
Protection scheme Dexia [DEXB.BE] Reported Q4 Net Lossof-â‚¬2.6B worse than the
loss ofâ‚¬2.3B forecasted. Its Core Tier 1 Ratio 9.6%. Company stated that its
Net result were impacted by insurance operations and from, Madoff exposure. It
had an additional impairment for U.S. mortgage-backed securities. || UBS [UBSN.SZ] Has
appointed Oswald Gruebel as its new Group CEO, effective immediately || Nicox
[COX/FR] Reported FY08 Net loss â‚¬73.9M worse than the estimates of a loss of
â‚¬70.3M. Revenues were â‚¬3.4M below the â‚¬6.0M estimates. It did note that it
could finance activities until the end of 2010 || Allianz [ALV.GE] Reported FY
Net Loss -â‚¬2.4B compared to a Profit â‚¬1.69B expected. The sale of Dresdner Bank
impacted the net by â‚¬6.2B. It s Op Profit came in at â‚¬7.4B inline with
consensus of â‚¬7.4B. it noted that difficult market to conditions continue in
2009, operating in 'midst of toughest downturn in decades' and cannot provide
reliable profit forecasts for 2009. It noted that it expected an additional
â‚¬400M charge on Dresdner sale || Centrica [CNA.UK] Reported FY08 revenues of
Â£21.34B above the expectations of Â£18.6B.; dividend at 8.73P/share, final
dividend 12.2P/share. It did note that the business climate in 2009 to be very
challenging. Its British gas units to be combined into single retail operations
|| Tognum [TGM.GE] Reported FY08 Net of â‚¬264M in line â‚¬256.4M estimates. Its
EBIT came in at â‚¬407M better than the â‚¬392.7M consensus. The revenues were
â‚¬3.13B slightly below expectations of â‚¬3.15B. It expected 2009 to present firm
with new set of challenges but remained confident of success in the mid term ||
British American Tobacco [BATS.UK] Reported FY08 Op profit Â£3.57B just missing
the Â£3.65B consensus. Revenues were Â£12.12B above the expectations of Â£11.94B.
CEO noted that company remain alerted to the possibilities of down trading. ||
National Express [NEX.UK] Reported FY08 Profit Â£119.7M worse than Â£141.4M
expected. Its continuing revenues of Â£2.77B in line with Â£2.77B expected. It
was cutting dividend a nd noted its normalized op margin was 9.2% compared to
8.1% y/y || Telefonica [TEF.SP] Reported Q4 Net profit â‚¬2.0B above the â‚¬1.8B
expected. Its revenues were â‚¬14.80B slight better than the â‚¬14.67B consensus.
|| Deutsche Post [DPW.GE] Reported FY08 Net Debt â‚¬2.41B; Saw a â‚¬1B additional
cost savings through 2010. It experienced â‚¬2.1B in restructuring costs
regarding changes in DHL US operations. Negotiations with UPS continue, firm
looks at possibility of action with other firms||
- Speakers: BoJ's Noda stated that it did not rule out additional steps to ease
credit market strains. He noted that currency movements needed to stabilize and
that recent swings have been excessive. The BOJ has nothing in mind on its next
policy step as of yet and unsure if can replace overnight call rate with any
other target. The BOJ plans to monitor effectiveness of previous policy steps
and consider effective ways to impact term-fund rate || S&P Report that
Japan could see 'worst recession' since World War II
- S&P expects Japan to suffer real GDP shrinkage of 4.0% in 2009 || Swedish
Riksbank Ingves commented that the central bank balance sheet has tripled since
the start of the crisis. The recent months had required use of "abnormal
policy tools" but reiterated the view that central bank will do whatever
is necessary to assure financial market stability. Sees jobless rate over 9% by
end of 2010 but economic outlook appears better in early part of 2010 but
timing is uncertain. A further interest rate cut is possible and saw interest
rates around 1% over the next year || HM's Treasury Releases Statement on Asset
Protection Scheme in which under the Scheme, in return for a fee, the Treasury
will provide to each participating institution protection against credit losses
incurred on one or more portfolios of defined assets to the extent that credit
losses exceed a "first loss" amount to be borne by the institution.
The Scheme aims to target those assets where there is the greatest amount of
uncertainty about their future performance. || ) Japan Fin Min Yosano:
Instability in USD's value is 'undesirable' || UK Chancellor Darling commented on the previously
announced banking schemeand says it aims to rebuild confidence in system. He
noted that it would provide certainty that banks will continue lending and
added that UK banks must clean up their balance sheets. The
ultimate target was to return RBS or any bank with govt holding back to private
sector || Spain's PM Zapatero comment that government was looking
at additional measures to help the unemployed and increase hiring || Russia's Gov't aide Dvorkovich reiterated 2009 GDP view
of a contraction of2.2%. He saw expects no abrupt change in Ruble currency rate
|| Chinese Regulator: To require banks to further raise provisions against bad
loans and focus on lending to real estate sector || BoE's King commented to the
UK Treasury that the first step wass determine what is on Bank balance sheets,
process will take time, estimating amount of capital needed was impossible.
Notes an "extreme" loss of confidence in Banks and was important for
gov't to support Bank balance sheets
- In Currencies: The USD consolidated in a quiet session that also
characterized the Asian session. The Euro currency was mildly firmer against
the major pairs despite the German GDP which revealed a sharp drop in exports
and cautious comets from former Bundesbank President Pohl (See the Credit
Crisis section). EUR/USD in a 100 pips range since Asia and current at 1.2758 at the middle portion as the NY morning
approaches. The JPY is maintaining a softer tome as it probes the 98 level
against the USD.
- Fixed income: Reportedly China's CBRC has said it will continue US Treasury
purchases if it remains in China's interest
- In Energy: Gazprom [GAZP.RU: Reportedly company warned it will again cut off
gas to Ukraine on March 8 if the country does not pay back $400M of new debts
|| Reportedly, China plans to cut energy use per GDP unit by 18% by 2010
- Credit Crisis: Dealer noting comments from former Bundesbank President Pohl.
He warned that the euro is under serious threat to survive the current crisis.
He believed countries like Ireland and Greece are in danger of defaulting on their obligations
and admitted the euro was under intense pressure and heavily indebted countries
could be forced out of the single currency. Pohl did note it could be very
expensive for any country considering the possibility of leaving the Euro-Zone
commenting that the exchange rate could go down, 50 or 60% and then interest
rates would go sky high because the markets would lose all confidence.
*** NOTES ***
- The concerns continue to mount over the global economy and the impact on the
financial sector as the stress test commences today for US banks. Talk
circulating that Citigroup [C] will announce an agreement to have the
Government increase its stake in the entity to 40%. AIG reportedly in talks
about breaking company into 3 separate gov't controlled parts The UK banks
started to present today.
- European and US equities moving off session highs as the NY morning approaches
- Britain launched a scheme which could end up insuring more
than Â£500B worth of toxic bank assets and risky loans
- The JPY continues its soft tone that it has carried all week. The BoJ's Noda
noted that the Japanese economy was worse than the central bank's prior
forecast made only last month.
- Euro-Zone Feb confidence data below expectations with the economic component
hitting an all-time low
- Looking Ahead: Main earnings General Motors[GM] ands Sears Holdings [SHLD]
- (GE) German Jan Wholesale Price Index M/M: -2.0% expected v -3.0% prior; Y/Y:
-6.3% expected v -3.3% prior
- (GE) Feb CPI - Baden Wuttemburg M/M: No expectations v -0.7% prior; Y/Y: NO
expectations v 1.1% prior
- 6:00 (GE) Feb CPI- Bavaria M/M: No expectations v -0.3% prior; Y/Y: No
expectations v 1.3% prior
- 8:00 (EU) ECB's Trichet speaks in Dublin
- 8:30 (US) Jan Durable Goods Orders: -2.5% expected v -3.0% prior; Durables Ex
Transportations: -2.2% expected v -3.9% prior
- 8:30 (GE) Initial Jobless Claims w/e Feb 21: 625k expected v 627k prior;
Continuing Claims w/e Feb 14th: 5.025M expected v 4.987M prior
- (GE) German Feb Prelim CPI M/M: 0.3% expected v -0.5% prior; Y/Y: 0.8%
expected v 0.9% prior, EU Harmonized M/M: 0.3% expected v-0.6% prior; Y/Y: 0.7%
v 0.9% prior
- 10:00 (GE) Jan New Home Sales: 324k expected v 331k prior; M/M: -2.1%
expected v -14.7% prior
- 13:00 (US) Treasury to sell $22B 7y Notes
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
Mon 18 Dec
10:00 EZ- final HICP Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
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.