- Equity prices are surging higher to begin the week, with the three leading US
indices making strong gains in the wake of much stronger than expected homes
sales and construction spending data. The March Pending Homes Sales index rose
3.2%, making for two straight months of advances after it hit a record low in
January. March Construction Spending grew slightly after five straight months
of decline. Front-month NYMEX crude has sustained the big run-up seen on
Friday, with prices just shy of $54. Treasury prices are slightly lower as
yields begin the week finding traction above key levels for both 10 and 30-year
paper. The calendar is full with 3 auctions scheduled this week as well as
continued coupon purchases from the NY Fed.
- More stress test related rumors made the rounds this weekend, with the
financial press reporting that Bank of America and Citigroup will raise around
$10B a piece in response to the test results. Bank of America denied the
reports this morning, although its denial seemed somewhat revealing, as it
noted that it has not "been given a final number by the Federal
Reserve." In a certain light that could mean the bank will need to raise
some amount of capital. Not a word has been heard from Citi in response to the
reports. Warren Buffet has been making comments about selected banks this
morning, complementing BoA for its "very good" deposit collection
system and saying that he expects to own Wells Fargo in five or ten years.
Share of the tier-1 banks are strong, led by WFC+9%.
- In earnings, Sprint surprised investors with a small quarterly profit,
against expectations for a slight loss, although the company also announced its
biggest ever quarterly net loss of wireless customers. Sprint warned that an
increasing number of customers may choose pre-paid services like the company's
Boost Mobile product, rather than post-paid monthly wireless bills. Sprint lost
a net 1.25M postpaid customers in the quarter, with executives blaming the
economic pressure in its business segment for some of these losses. Cosmetics
maker Estee Lauder also surprised markets, earning nearly three times the
expected amount in its Q3, although its guidance was a bit more pessimistic. While
executives note they are beginning to see economic improvements in the US,
they expect current trends to hold through the rest of 2009. Earnings from
foodservice giant Sysco and Tyson Foods were more or less in line, while the
companies' revenue performance lagged expectations.
- In M&A action, Liberty Media is planning to split off its Liberty
Entertainment unit and combine it with DirectTV. The unit controls assets such
as the Game Show Network, FUN Technologies and three regional sports networks;
the new company will be called DirecTV Group. Existing DTV holders will receive
one share of DirecTV Class A stock for each share they already own. Holders of
Liberty Entertainment shares will receive 1.1111 shares of DirecTV Class A for
each share Liberty Entertainment. Pepsi Bottling Group rejected PepsiCo's
$29.50/share acquisition proposal, calling deal "grossly inadequate."
- Currency price action was whippy in the New York
session as thin conditions, lots of data and various speakers prompted a certain
amount of volatility. Initially, the dollar started the New
York morning on a firm footing after the ECB's Weber
commented that any recovery in Germany
would not arrive until the second half of 2010. These remarks followed the EU
Commission's downward revisions of 2009 & 2010 GDP forecasts for the entire
union as well as the smaller Euro Zone. However, continued improvements in
economic data from emerging market countries helped risk appetite take the
upper hand, with improving PMI data in Europe and Asia
aiding the cause of risk (China
and India PMI data moved above 50, suggesting growth). In addition, Brazil's
April trade balance beat expectations with exports rising more than expected.
Commodities were firmer across the board in both metals and energy and the CAD
and AUD pairs reflected this strength. EUR/USD tested the 1.3211 level in early
New York trading before moving
back towards its Asian session highs of 1.3347. USD/CAD was set for its first
daily close below its 200-day moving average in almost 12 months, around 1.1770.
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Mon 19 Feb 2018
00:00 CN, US- Holiday Tue 20 Feb 2018
00:00 CN- Holiday A 10:00 US- ZEW Survey Wed 21 Feb 2018
00:00 CN- Holiday A All Day flash PMIs A 15:00 US- Existing Homes Sales A 15:30 US- EIA Crude AA 19:00 US- Fed Meeting Minutes Thu 22 Feb 2018 A 09:00 DE- IFO Survey A 09:30 GB- GDP AA 13:30 CA- Retail Sales A 13:30 US- Weekly Jobless Fri 23 Feb 2018 A 10:00 EZ- Final HICP AA 13:30 CA- CPI
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.
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more critical things to consider than you might have thought.
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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.
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