- The DIA and S&P500 are picking up right where they left off last week,
with the two indices gaining for the sixth straight session. The NASDAQ is
experiencing some relative weakness spending much of the morning in the red.
Traders are ignoring the dismal Empire Manufacturing data, which came in at its
lowest level since series began back in 2001. GE is catalyst, taking a leg up
after UBS pulled its short-term sell rating on the stock. Barclays has
sustained the momentum for the major financials after management indicated
business continues to perform well. Front-month crude is dissipating some of
the gains made in anticipation of this past weekend's OPEC meeting in Vienna
(the group announced no further cuts). Fed Chairman Ben Bernanke was
interviewed by CBS's 60 Minutes on Sunday night, in an unusual move that he
said was prompted by the extraordinary economic circumstances. Bernanke said
the recession will most likely end in 2009 with recovery following in 2010,
insisting that he believes the US
has averted a depression.
- US Treasury prices are moving lower pushing the long bond yield to its
highest levels In more than 2-months. UK
government bond yields have also ticked higher after the latest reverse auction
results from the Bank of England. The 10-year GILT is back towards 3%.
- The banking stocks are continuing to fuel overall equity gains, with Citi and
Bank of America again paving the way, with shares of both companies up more
than 10% in early trading. Shares of other major US
banks are up by more modest amounts, with WFC+4%, JPM+3% and MS+1%. The Fed's
Bernanke has helped sustain last week's strong upside momentum after telling
CBS's 60 Minutes that all the large US
banks are solvent and insisting that none of them will fail. Bernanke also said
that he has seen improvement in banks thanks to the efforts made by the Fed,
and said the first sign of recovery would be the ability of big banks to raise
private equity. The FASB is also helping financial stocks; this morning it
proposed to let companies exercise more judgment in applying mark-to-market
accounting rules. The board will vote on the proposals on April 2, with the
objective to finalize the rules for Q1 financial reports. In other finance
news, Discover Financial Services received a sizable $1.2B capital injection
from the US Treasury's capital program on Friday. Shares of DFS were up 4% in
early trading but are back around even mid morning. Also note that last night
AIG disclosed counterparties to its CDS, GIA and securities lending
- Leading tech names are weighing on the Nasdaq this morning as the problems of
the real economy continue to frighten tech investors. Overnight BofA/Merrill
Lynch cut the firm's 2009 PC unit growth forecast to -10% from -6.0% prior.
Shares of Microsoft, Apple, Intel and HP fell around 1% in early trading,
although most of these are well off their worst levels. Cisco is outlining its
strategy for making a strategic move out of nuts and bolts router hardware and
putting more emphasis on its blade server line, in a shot across the bow of
server leader HP.
- In currencies, traders are continuing to focus on the price action in
equities. The USD and JPY were on the defensive for early part of the New
York session. EUR/USD tested 1.3070 before retracing
while GBP/USD tested 1.4229. Dealers were noting that profit taking was a major
factor as the London closed
approached. The weaker US
industrial production data was seen as a catalyst to remove some of the risk
appetite exhibited during the European morning. Net foreign purchases of US
assets declined $148.9B in January but both China
and Japan added
to their US Treasury holdings. China's
holding of US Treasuries rose by $12.2B to $739.6B while Japan
holdings rose by $8.8B to $634.8B.
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
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.