- March trading roared in like an angry bear this morning, with the DJIA
opening below 7,000 for the first time since October 1997. Investors are
focused on ailing banks as usual, after HSBC offered a grim Q4 report and AIG
disclosed the biggest quarterly loss in US
history and confirmed it once again returned to Uncle Sam
with hat in hand. Note that over the weekend, Warren Buffet told investors that
Berkshire Hathaway had its worst year ever in 2008 and warned that the economy
would be in shambles throughout 2009. There were hints of sunshine on the data
front, with the February ISM Manufacturing reading a bit better than expected
and the January Personal Spending data showing the first rise in spending in
the last seven months. But there are problems with the latter, as the 5% rise
in January personal savings (largest increase since 1995) and the record annual
rate (highest since records began back in 1959) is looking bad for consumption.
Front-month crude is getting slammed, with the contract off almost $4 just
above $40, and despite the stock market weakness gold prices are losing ground
- Government bond prices are bid up as money finds its way to Treasuries and
the like. The 10-year is up better than a half a point pushing the yield back
below 3%. The yield on the ultra safe 3-month T-bill has slipped back to 0.25%,
hovering right at its lowest levels in roughly a month.
- Fallen insurance giant AIG said it lost $61.7B in the fourth quarter and
confirmed earlier reports that the government would once again restructure its
rescue package, handing the company another $30B in taxpayer funds to be used
on an "as needed" basis and converting an existing $40B stake in preferred
shares to common shares. This is the fourth revision of the government's
bailout of the insurance company. AIG's CEO Liddy was at pains to insist that
AIG does not need fresh cash right now and that its liquidity situation has
stabilized. An unnamed US
official said that the aid severs to continue stabilizing AIG and reducing the
size of the company, which still poses a systemic risk. According to the
official, taxpayers' exposure to AIG now amounts to $163B.
- Last night the New York Post reported that the Treasury is ready to accept
warrants instead of common stock from banks in exchange for financial aid,
presumably to keep banks from being ‚Äúnationalized.‚ÄĚ The Post adds that the move
to accept warrants will play out next week as Treasury gets results from the
first round of stress tests. Note that well-known analyst Robert Prechter
predicted today that the US may see more bank failures than the FDIC has funds
to cover, responding to news that the FDIC would raise fees and levy as special
assessment to beef up its warchest. Bank of America and Wells Fargo are down
13% or so in early trading, while Goldman, Morgan Stanley and JP Morgan are
down around 5%.
- Satellite TV companies Dish and Echostar are having a tough morning, with
shares of both down 9% in early trading. Dish Network reported more or less in
line with consensus estimates, but there were some disturbing developments in
the company's earnings press release, including a 100K q/q loss in net
subscribers and an ugly warning about its $5B worth of outstanding debt, namely
that more debt may be needed that would have a dilutive effect on equity
capital and future earnings. Echostar's huge quarterly loss includes big
impairments and losses on investments and other assets.
- In currencies, the greenback managed to consolidate gains against the major
European pairs during the New York
session. Traders concerns about Eastern Europe have only
grown after the EU summit meeting this weekend failed to agree on any concerted
support for the region. Dealers continue to wonder whether the pre Asian market
lows in EUR/USD represent the sort of solid support that could last through the
rest of the week and past US payroll data on Friday. Dealer chatter is noting
decent option support putting a floor in place and renewed talk of big 1.2500
barriers. Euro momentum apparently lacks the impetus to make a significant test
of the downside. Sterling is
broadly weaker against it major pairs as it probed back toward the 1.40 level
against the USD and 0.90 versus the euro. CAD hit fresh 2009 lows as it tested
the 1.2880 level against the USD. Canada's
Dec GDP contracted more than expected and commodity prices slumped during the
NY morning on deepening global recession concerns.
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.