- US equity indices are holding their ground after yesterday's late session
decline. An uptick seen in the Feb building permits and housing starts data has
provided some hope housing could be nearing a bottom. Following three
consecutive months of record low readings, housing starts handily beat
analysts' estimates at 583K v 450Ke. Some commentators saw the big gains in
multi-unit starts versus an almost flat single-unit starts as evidence that
builders are positioning around growth in rentals units, while others cautioned
that builders are simply desperate, given the record level of new home supply
already waiting for buyers. Others claim the data shows some kind of bottom is
approaching in housing. The XHB is up 4% or so in the early going. Front-month
crude has swung back to strength, popping above $48 after OPEC officials
suggest they would reach 95% compliance of the already announced output cuts by
the May meeting.
- The week of gains in shares of the leading US
banks seems to have moderated this morning as investors pause to reassess. The
analyst community has passed some conflicting judgments on the rally: Keefe
Bruyette cut Goldman to Market Perform and BofA/Merrill Lynch cut Morgan
Stanley to sell, while Oppenheimer initiated the two names at outperform.
Analysts at Oppenheimer see the recovery in credit spreads as benefiting major
integrated investment banks. Some commentators seem to be saying that the rally
was at based on the argument that it can't get any worse. Investor Jim Rogers
weighed in, saying that the US is repeating mistakes made by Japan in bailing
out banks and warning that it takes several years for a bubble to deflate. On
CNBC Meredith Whitney said things at the banks are as bad as ever, reiterated
that banks will cut consumer credit lines by around $2.7T and said mark to
market doesn't really matter at this point. Addressing Citi's rally-sparking
comments about profitability in Q1, Whitney said Citi CEO Pandit's comments
will come back to haunt the bank. Also note that Fed delayed new bank capital
requirements this morning for two years, until Mar 31st, 2011 , to give financial firms - which need to
boost overall capital levels during this challenging period in financial
markets - more flexibility to meet federal capital requirements.
- Steel maker Nucor told investors to prepare for a big Q1 loss, guiding -$0.65
to -$0.55 versus a consensus view of $0.43. Nucor cited the unprecedented speed
and magnitude of global economic decline, warning that customer demand has
continued to weaken with resulting downward pressure on orders, production
rates and steel pricing in all product lines. Shares of NUE-12% have been hit
hard on the news, with shares of other major steel companies down 6-8% in
- Pfizer is in the process of launching what the Wall Street Journal is calling
the biggest USD corporate bond issue ever, to finance its acquisition of Wyeth.
There had been speculation that the bond issue would be around $20B, although
this morning Pfizer priced around $13B in notes of various maturities. Note
that the WSJ wrote that drug makers have ready access to funding today but in a
few years time will "fall off a patent cliff" and are scrambling to
diversify via big acquisitions. The Journal warned that these types of transactions
have a spotty record.
- In currencies, the USD and JPY price action seems to be inversely correlated
to moves in equity markets. The USD has remained in its recent 24-hour range of
1.2930 to 1.3030 as market sentiment shifted between risk aversion and risk
appetite throughout the European and NY sessions. Dealers are noting that the
increase in US New Housing Starts data is a mixed bag for the dollar as
single-unit starts climbed by 1.1% but multi-unit starts increased by over 80%.
Sterling was under some pressure
during the New York morning, with
GBP/USD back below the 1.40 level and GBP/JPY probing minor support at 138.00
ahead of BoE Governor King's speech after the New York
equity close on Tuesday. An IMF official commented that the fund's new economic
forecast would predict a global contraction of 0.6% in 2009, compared to a
+0.5% prior view. This fulfills earlier warnings from the IMF.
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 26 Feb 2018 A 15:00 US- New Homes Sales Tue 27 Feb 2018 A 08:55 DE- Jobless B 13:30 US- Durable Goods A 15:00 US- CB Consumer Confidence A 15:00 US- Pending Homes Sales AA 15:00 US- Powell House Testimony Wed 28 Feb 2018 A 10:00 EZ- flash HICP AA 13:30 US- GDP A 15:30 US- EIA Crude Thu 1 Mar 2018 A All Day final Mfg PMIs A 13:30 US- Weekly Jobless AA 13:30 US- Core PCE Deflator AA 15:00 US- Powell Senate Testimony A 15:30 US- EIA Crude Fri 2 Mar 2018 AA 15:00 US- final Univ of Mich
John M. Bland, MBA co-founding Partner, Global-View.com
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.