- Strength from the Asian and European sessions prompted by the Indian
elections carried over into pre-market trading in New York this morning. All
three leading US
indices made strong gains before the bell after three days of relative
weakness, led by the DJIA and Lowe's strong quarterly earnings. Front-month
NYMEX crude is making strong gains up nearly $2 while copper prices are up more
than 2%. Treasury prices are a little lower following another coupon purchase
from the Fed. The 10-year yield is hovering above 3.1%.
- Various analyst moves are helping the tier-1 financials outperform this
morning, lead by impressive gains at Bank of America. Shares of BoA are on
fire, up more than 10% after analysts at Goldman Sachs raised the name to a
Buy. Goldman said that the bank's capital raise is about half over, noting that
the impact on its shares should start to abate moving forward. Note that Fitch
cut its ratings on BoA's preferred stock just before the open, warning the bank
could face more mortgage and credit card losses over the medium term. Wells
Fargo is off its best levels this morning, after opening up 5% on news that
Warren Buffet's Berkshire Hathaway had raised its stake in the bank by 16M
shares (to 6.4% from 6% prior). Golman Sachs is up 3% after ratings and
earnings estimate upgrades by analysts at Citigroup and JMP Securities.
Analysts at JMP Securities also raised their ratings and earnings estimates for
Morgan Stanley, sending its share up 3% or so in early trading. Note that
Regions Financial jumped nearly 14% on takeover chatter, before trading off
- Over the weekend GM Vice Chairman Bob Lutz told German newspaper Sonnntag
that the company will not meet the Obama Administration's June 1st deadline for
completing its restructuring plan. Negotiations with the UAW continue apace,
however. The union is not feeling cooperative, noting earlier this morning that
it strongly objects to GM plans to close US plants and increase its imports of
vehicles produced overseas.
- Lowe's reported first-quarter earnings that were ahead of consensus earnings
and revenue estimates, and the home improvement giant also offered guidance for
the year and the coming quarter that was well above targets. On the conference
call, Lowe's CEO said there are encouraging signs that the worst may be over,
although the macro headwinds facing the firm remain strong for the rest of the
year. Shares of LOW jumped 10% before the bell, before trading off
substantially by mid morning. Shares of HD were up 6% on the news. Textron cut
its full-year forecast due to dilution from its recently announced public
offering, although shares of the conglomerate are still up 2%. Carnival Cruise
Lines said the impact of the Swine flu panic would trim its second quarter
earnings by $0.05/shr, although share of CCL are steaming higher, up 5% in the
early going. Shares of Dillard's are up 18% on an impressive Q1 showing,
although the retailer's outperformance was buttressed by a one-time tax gain.
- In currencies, risk appetite kept USD and JPY pairs on the defensive. EUR/USD
tested above the 1.35 level while USD/JPY probed the 96.00 neighborhood. IMF
Official Morsink noted that it had agreed that Hungary could tap its second
loan tranche of â‚¬1.4B to sooth over fears over the Eastern European region.
GBP/USD led the way higher aided by the May Rightmove house price survey which
registered its largest month/month gain since Feb 2008. GBP/USD tested the 1.53
level against the USD and probed the 0.8800 level against the euro. EUR/CHF
cross was steady but unable to climb higher following the SNB intervention last
friday after the European close. The pair ends the NY session at 1.5120 level.
Higher energy prices aided the CAD and AUD related pairs.
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Daily Forex Market News Forex news reports can be found on the forex research
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Actionable trading levels delivered to YOUR charts in real-time.
Mon 12 Mar 2018 A 17:00 US- 3-Yr Auction Tue 13 Mar 2018 A 10:00 DE- ZEW Survey AA 12:30 US- CPI A 17:00 US- 10-Yr Auction Wed 14 Feb 2018 AA 12:30 US- Retail Sales A 12:30 US- PPI A 14:30 US- EIA Crude A 17:00 US- 30-Yr Auction Thu 15 Mar 2018 A 12:30 US- Weekly Jobless A 12:30 US- Philly Fed, Empire PMI A 12:15 US- Industrial Production Fri 16 Mar 2018 A 10:00 EZ- final HICP A 12:30 US- Housing Starts/Permits A 14:00 US- prelim 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.
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