- In equities: Equity markets opened effectively flat following last Fridays
gains in erratic and volatile range trading. News flow over the weekend
dominated the European pre-market with deals news out Centrica [CAN.UK] and EDF
[EDF.FR] and a rival bid entering the Barclays [BARC.UK] iShares sale offer.
Capital raise plans from Commerzbank [CBK.GE], Lonmin [LMI.UK] added negative
weight to the names in early trading. Continued questions regarding the overall
health of the European and global banking system continue to be kicked around
by pundits and further weight to the days trading had originated with the
return of 'bear market' rally commentary, analyzing the steep rally since early
March as potentially over bought and correction prone. By 3:30EST markets
continued their heavy tone with the CAC and DAX below the -1% mark. Data out of
the UK , including inflation and unemployment later in the trading week being
pointed out as potentially down side indicating information
on the true level of recovery, or stabilization in global markets. Overall
sector performance remained mixed as shares within sectors diverged on news
flows and sentiment out of the US.
By 4:00EST, markets had found an initial bottom and began paring losses with
the CAC and DAX pushing back to above the -1% hurdle. HSBC [HSBA.UK] released
its H1 interim trading statement and markets took a brief moment of relief on
the positive statements out of the bank. These gains were quickly paired and
broad weight returned to the equity environment with the FTSE, CAC and DAX all
at or near their worst levels by 5:00EST.
- In individual Equities: HSBC [HSBA.UK] Provides interim statement: Resilient
start to year; in line with expectations. Tier 1 cap 9.9%, Core Tier 1 8.6%, Q1
loan impairments charges lower than Q4, Q1 impairments in US slightly lower
than planned, Q1 deficit on the asset-backed securities available-for-sale
reserve balance reduced by US$0.7B to US$18.0B. Loan impairment charges and
other credit risk provisions rose in Q1 2009 in all customer groups and
regions. || Barclays [BARC.UK] BC Partners, a private equity firm, has made a
Â£3.5B bid for iShares, which could unravel a deal to sell the unit to CVC
Capital Partners for Â£3B - Sunday Times. Bid comes under the 45 day 'go-shop'
provision; CVC Capital is still allowed to match the higher bid. Reminder: On
April 9 -Confirms agreement to sell Barclays Global Fund Advisors (iShares
unit) to CVC Capital Partners for $4.4B (Â£3.3B). || Centrica [CAN.UK]Provides
Interim Management Statement - sees FY earnings in line with expectations (FY09
Net Â£1.1Be, EBITDA Â£2.8Be). Â£2.3 billion cost of the investment in British
Energy will be funded by approximately Â£1.1 billion in cash and the disposal of
Centrica's 51% stake in SPE to EDF for â‚¬1.325 billion. || BT Group [BT] Could
lower its final dividend to zero - London Telegraph. The company's pretax
profit is seen at around Â£550M, which is a decline from Â£2B y/y. || Lonmin
[LMI.UK] Reports H1 Operating Loss $142M v Loss $54Me, Rev $436M v $434.0Me,
announces 2 for 9 rights issue to raise $457M (18.2% of enlarged share
capital). || ICAP [IAP.UK] Offers Â£830M in cash for LCH Clearnet - FT. Company
has been rumoured as a bidder for LCH Clearnet as far back as February. || Tui
Ag [TUI1.GE] Reports Q1 Adj EBITA Loss â‚¬324M v loss â‚¬285Me, Rev â‚¬3.08B v â‚¬3.14Be.
Trading since last update remains robust, with volumes in the last eight weeks
tracking ahead of the cumulative position. Says remains well placed to meet the
board's expectations for the year ended Sept
30, 2009. ||
- Speakers: ECB's Ordonez commented that he saw certain improvements in 'soft'
economic indicators and reiterated the view that Q1 GDP in Eurozone was the
bottom. Central Banks need to maintain caution on any economic outlook. He
reiterated the central bank's view that does not see any big risk of deflation
in Eurozone and added that there was also no inflation risk in foreseeable
future || Iceland Central Bank commented that Euro adoption is seen as
possibility within 4 years, but FX stability remains its priority || Investor
George Soros commented that the USD was already weak, and would not likely lose
further ground against Euro. Soros believes Germany
should no longer reject notion of EU bonds. He saw Asia
as the region to recover first from global crisis and that China
would replace the US
as engine of global growth || French Fin Min Lagarde noted that Q1 GDP figures
likely to be bad , to revise its 2009 forecast before. She reiterated that
French banks are adequately capitalized || German Econ Min Guttenberg
reiterated the view that its economy is seen bottoming towards end of 2009 ||
Saudi Fin Min: Does not expect drop in USD significance over coming years ||
BoJ to set aside 15% of profits for reserves purposes from its prior 5% ratio.
- In Currencies: The USD managed to stem its bearish momentum against the
European pairs in the session after opening weaker in Asia.
Initial reaction among European dealers is that the recent moves in equities,
fixed income and currencies might be a little oversubscribed. Some weekend
press articles regarding the potential crisis in the financial markets were not
over and that US banks won concessions on stress tests data.
- The EUR/USD tested above the 1.3650 level last tested just ahead of the G20
summit on April 2nd. The pair moved below the 1.3590 level as the NY morning
approached. The JPY exhibited broad-based strength in the session, gain 80 pips
against the USD to test 97.75, and firmer against its European counterparts
with EUR/JPY at 133.00 after probing towards 135 area in Asia.
GBP/JPY off over 220 pips to trade at 148.00 after being above 150 earlier
today. || In recent session the USD had encountered some weakness as global
risk appetite rose. The IMM data revealed that speculative accounts have
registered a net USD short position for the first time since July
-In Fixed Income: Government bonds are bid in light volumes this morning in Europe,
with yield curves experiencing some corrective bull flattening. The yield on
the 10y Bund back to 3.41%, the yield on the 10y Gilt is back to 3.67% and the
yield on the 10y Note is back below 3.28%, Ahead of the NY Fed's long end
repurchase, the Long Bond yield is about 5pbs lower at 4.22% at the time of
writing. In corporates, Banco Santander announced plans to issue a â‚¬1.5B 5y
covered bond whilst UBS is reportedly planning its own Euro
- In Energy: Norway Preliminary April oil production: 1.99M bpd v 2.15M bpd
prior month || South Korean Presidential Aide commented that the county might
join 5 oil fields exploration in Uzbekistan || Iran OPEC Governor Mohammad Ali
Khatibi stated that he e Expected OPEC either to cut or hold output steady
during May 28 meeting. He saw OPEC compliance between 85% to 90% ||
*** NOTES ***
- Global Central Bankers cautiously optimistic on economy
- Traders debate ranges on whether equity markets are in bear market rally or
if the rebound is for real.
- China Premier
Wen said the government's policy response to the economic crisis goes far
beyond its CNY4T stimulus package, new measures are seen emerging steadily
through the year
- NYT comments on the US
credit card market noting that millions of Americans will not be able to pay
off their debts.
- WSJ: Banks won concessions on stress tests. Fed switched measurement of bank
capital levels and scaled back the size of capital shortfall following 2 weeks
- Looking Ahead:
- 8:30 (CA) Canadian Mar New Housing Price Index M/M: -0.5% expected v -0.7%
- 10:00 (UK) BOE to repurchase Â£3.5B Gilts maturing between 2020 - 2032
-11:00 (US) NY Fed to conduct buyback of T-Bonds maturing between 08/15/2026 -
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.
Mon 19 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
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.