- Equity indices are making robust gains in early trading as the financials
drive trade on anticipation of good news from the FASB later this morning. The
data has been mixed, with February factory orders a bit stronger than expected
and January orders revised higher, while the weekly jobless claims both making
fresh highs once again. NYMEX crude surged by $3.40/barrel or so, aided by
â€śofficialâ€ť Chinese PMI data for March that registered its first increase in six
months. Note that Chinese officials have made confident statements of late that
the Chinese economy has hit bottom.
- Government bond prices both here and across the pond are moving lower as
stocks rally. The ECB cut only 25 basis points disappointing some, and provided
little clarity regarding unconventional measures. The BOE auctioned off another
batch of long dated GILTS. Though the auction results did improve from last
week's yields prices still ticked higher following the mediocre reception. The
10-year GILT yield is back above 3.3% while the Bund offers 3.12%. The US
benchmark is holding close to 2.7%.
- Banking names made big gains in the pre-market this morning on apparent
optimism that the FASB would provide the sector with regulatory relief by
voting to relax mark-to-market accounting rules later this morning. As of
writing the FASB's board meeting is ongoing, although the body has already
noted today that "orderly transition" does not include forced
liquidations. Note that more executive compensation drama is in the background:
in an interview with CBS last night, Treasury Secretary Geithner said he did
not rule out forcing out CEOs of banks who received government funds, and the
House approved bill allowing the Treasury to set limits on executive
compensation for firms that receive public funds. However, Bank of America's
CEO Ken Lewis said earlier today that he does not see the US
gov dictating management changes in the banking industry, and confirmed that BAC
has paid back a total of $400M of its TARP funds.
- In other equity news, Monsanto reported strong results for Q2, beating
earnings estimates somewhat and once again reaffirming its forecast for 2009.
But later in the morning, the WSJ rained on the company's parade, noting that
the firm may report a loss in Q4, with a single-digit earnings growth in Q3
thanks to falling market share. MON jumped 4% before the open and then dipped
into the red on the WSJ report before recovering somewhat mid morning. Rite Aid
reported a loss in Q4 and guided a larger-than-expected loss for the year,
sending shares of RAD-15% into a tailspin in early trading. Carmax walloped
analysts' estimates in Q4 despite the significant 26% y/y decline in its
same-store sales and significant q/q declines in wholesale vehicle sales.
Shares of KMX are up 10% today. And with earnings season right around the
corner, the profit warnings have begun. Carnival warned that its Q2 earnings
would be a bit lower than expected thanks to higher fuel costs - but shares of
CLL are up 5% in the early going.
- In currencies, the greenback was on the defensive during the New
York session against European pairs after the ECB
â€śsurprisedâ€ť the market with only a 25 basis point cut (consensus expectations
were for a 50 bps cut). At the press conference, Trichet reiterated the
standard ECB position that inflation would remain below the 2% target in
2009/2010 and that risks to the economic outlook remain broadly to the
downside, with disinflation and not deflation stalking Europe.
During the Q&A portion, Trichet noted that the rate decision was made by
consensus, with no discussions on holding rates steady. The ECB confessed that
rates were not at their lowest level, but still low by historical standards.
Looking ahead to the next policy meeting in May, the ECB said it would decide
at that time on whether or not to pursue â€śnon-standard measures,â€ť but declined
to provide further insight on alternative policies.
- Risk appetite resurfaces as equity markets surged higher ahead of the FASB
announcement. The hope for change on the rules keeping the USD soft and the JPY
broadly weaker as well. USD/JPY probed towards the 100 level for 5-month highs
- With the G20 meeting ready to wrap up business, there have been plenty of
comments from participants. Russian President Medvedev reiterated his belief
that an alternative to the USD should be considered. He suggested a basket of
regional currencies could be used instead of USD basket. This reflects similar
sentiments from China,
which stated that would back IMF support currency. A Brazilian official noted
G20 would raise funding for the IMF by $1T G20 and was considering issuing 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."
Actionable trading levels delivered to YOUR charts in real-time.
Tue 17 July 2018 AA 08:30 GB- Employment A 13:15 US- Industrial Production AA 14:00 US-Powell Testimony Wed 18 July 2018 AA 08:30 GB- CPI A 12:30 US- Housing Starts/Permits AA 14:00 US-Powell Testimony Thu 19 July 2018 AA 1:30 AU- Employment AA 08:30 GB- Retail Sales A 14:30 US- EIA Crude A 12:30 US- Weekly Jobless Fri 20 Jun 2018 A 12:30 CA- CPI/Retail Sales
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.