- After selling off quite aggressively before the bell, US equity indices made
a run into positive territory in early trading this morning. Equities seemed to
have stabilize and risk aversion diminished after Merck announced a $41B merger
with Schering-Plough, and hopes are high that a deal can be reached in the
down-to-the wire negotiations continuing between Dow and Rohm and Haas.
Front-month crude has pushed through its 50-day EMA for the first time since
last July to trade as high as $48. Natural gas continues to head the other way
making a fresh 6-year low below $3.85. Various OPEC officials discussed more
output cuts early today (note OPEC meets March 15th), with Secretary General El
Badri mentioning a 800K bpd cut, OPEC President Vasconcelos conceding that cuts
may be needed (he had previously been opposed to more cuts) and the Kuwaiti Oil
Minister talking about a potential 1M bpd cut. Treasury prices and gold sold
off after the open of floor trade aided by the early rebound in equity prices.
- Schering-Plough said it has agreed to the reverse merger with Merck at
$23.61/shr in cash and stock. The companies will combine under the name Merck,
and will be led by Merck CEO Richard T. Clark. Upon closing, Merck shareholders
will own 68% of the combined organization, with SGP shareholders holding the
balance. Merck anticipates that the transaction will be modestly accretive in
the year following the deal and significantly accretive thereafter. Merck also
took the opportunity to reaffirms its 2009 guidance. S&P put SGP's A-
credit rating on watch positive after the deal was announced and affirmed
Merck's AA- ratings.
- In other M&A news, Dow Chemical and Rohm and Haas are holding last-minute
negotiations to hammer out a merger deal in an attempt to head off the mother
of all breach of contract suits. Before the open CNBC's David Faber reported
that his sources were saying a deal is near. Last night Dow said the talks were
going quite well, admitting that its $78/share all-cash offer is not the right
deal. This morning Dow and Rohn jointly delayed initiation legal action until
this afternoon in anticipation of reaching a final deal.
- Warren Buffett's appearance on CNBC has not been all doom and gloom. Buffett
seemed cautiously optimistic about toxic assets held by banks, which he said
have very good potential for rich returns if their current valuation is based
on mark to market. "I'd rather buy a bank's toxic assets than their good assets,
if they are marked to market, since they're so cheap," he said. Buffett
also noted that he still favors mark-to-market accounting, even if he doesn't
agree with it in all cases, and feels that restoring the uptick rule is a good
- In currencies, the greenback saw pre-New York
safe-haven gains erode, although there was also a positive undercurrent against
the European pairs throughout the morning. The USD's upward momentum was
whittled away as front-month oil futures rose. The ECB's Trichet shared his
thoughts this morning, noting that economic positives have not been fully
priced in while also conceding that uncertainty remained high. Trichet noted
that although the global economy is still slowing, he believes it is
approaching a time when the economy might start to rebound, citing improving
corporate bond markets have. Sterling
exhibited broad-based weakness as concernd lingered about its banking sector.
GBP/USD tested the 1.3750 level while EUR/GBP moved back above 0.9150. USD/CAD
rose to 1.3064, its highest level since Aug 2004 following the
weaker-than-expected February Canadian housing starts.
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.