- US equity indices are sustaining solid gains this morning, taken higher by
rallying financial stocks. With a better picture of the Treasury's stress
testing in hand and the intitial details of Obama's budget leaking out, both
seem to be providing confidence in the banks and helping investors ignore the
dismal economic data. The Commerce Department reported the sixth straight
monthly decline in durables goods orders, continuing jobless claims broke above
the 5M level for all-time high reading and January new home sales sagged to
fresh record lows, with the median sale price slumping 10% m/m. Details of the
Obama administration's 2010 budget leaked out earlier this morning, indicating
that the White House sees a budget deficit of up to $1.75T, or 12.3% of GDP.
- Gold markets are losing ground with the return of risk appetite by investors
around the globe. April gold traded off as much as $30 approaching $930 once
again. Treasury prices are lower as well as the market tries to digest the
magnitude the Obama Administration's budget proposal and looks past the
disturbing durable goods and housing figures. The 10-year yield has climbed
back to 3% while the benchmark spread has widened back to 190 basis points. The
energy complex is rallying for the second straight session led by RBOB + 7.5%.
WTI crude is testing $45 for the first time in nearly a month.
- Financial stocks are making solid gains this morning after the Treasury
finally laid out concrete details regarding bank stress testing yesterday
afternoon. Yesterday after the close, Treasury Secretary Geithner told NPR that
more government backstops would be helpful for banks even as they look to raise
private capital, as required under the Treasury's emerging financial stability
plans. Geithner also echoed the host of administration and Congressional
officials who have asserted that nationalization of banks is unnecessary. In a
research note published overnight, Citigroup indicated that it believes the
stress testing plan will be positive for US banks, although it cautioned that
the final targets for bank capital levels remain unclear. In separate news,
Citi is getting closer to a deal with the Feds, with a final announcement
expected as soon as today.
- Managed care names CVH, AET, UNH, CI and HUM are getting hit as details about
the Obama administration's budget leak out. Current budget proposals indicate
significant changes in the government's role in health care, including cuts to
private Medicare Advantage plans.
- General Motors reported a giant $9.6B quarterly loss this morning, amounting
to -$9.65 per share, well above analysts' expectations for -$7.40. Revenue was
$30.8B, nearly $5B less than expected. For the full year, GM said it lost
$30.9B, which admittedly is less than last year's $43.3B loss. The wounded
automaker anticipates receiving a "going concern" opinion from its
auditors in its 2008 10-K. At the very end of its earnings press release, GM
briefly noted that it requires funding from the US Treasury to continue
- In other earnings news, Fluor is up nearly 10% after blowing out EPS and
revenue estimates. Cablevision fell to -5% after the open before bouncing up +5%
along with markets. CVC missed on earnings in a big way, while revenue was in
line with expectations. Sears holding is sustaining an 8% gain in early trading
after earnings, while Limited Brands is well off early losses but still down 3%
or so. Supermarket chain Safeway missed earnings and revenue slightly, while
reaffirmed its 2009 forecast. Investors are not reassured, however, and are
dumping the stock, which is down more than 10%. Utility Integrys Energy has
fallen off a big cliff after missing the consensus view by a mile thanks to big
losses on derivatives, with shares down more than 20%.
- In currencies, the greenback was mixed in the New York session but off its worst levels against the
European pairs. EUR/USD once again tried to break the 1.28 level before
succumbing to selling pressures. Sterling was firmer, with dealers attributing gains on
month-end activity but added that weak economic fundamentals coupled with the
protracted resolution of the banking sector's problems continue to weigh on prices.
The yen maintained its soft tone on both technical and fundamental factors.
USD/JPY was approaching the mid 98 handle as the New York morning progressed.
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.
Mon 10 Sep 2018 AA 08:30 GB- GDP, Trade, Output Tue 11 Sep 2018 AA 08:30 GB- Employment Decision A 09:00 DE- ZEW Survey Wed 12 Sep 2018 A 12:30 US- PPI A 14:30 US- EIA Crude A 18:00 US- Beige Book Thu 13 Sep 2018 A 1:30 AU- Employment AA 11:00 GB- Bank of England Decision AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless AA 12:30 US- CPI Fri 14 Sep 2018 A 08:30 GB- GDP AA 12:30 US- Retail Sales A 13:15 US- Industrial Production AA 14:00 US- prelim University of Michigan
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.