- Equity trading is sluggish and downbeat this morning, with the three major US
indices opening in the red and heading lower in the early going. With no major
data releases to set the trend, investors are fretting ahead of the disclosure
of which banks have been cleared to repay TARP funds. In addition, there is
some tension from the Chrysler bankruptcy, as a decision is also expected soon
from the US Supreme Court on whether the body will hear a challenge from a
group of Indiana pension funds over the auto manufacturer's deal with Fiat or
not. Front-month NYMEX crude is back above $68 after dropping as low as $67
overnight. The US Treasury curve continues to flatten with the benchmark spread
moving below 250 basis points. Short term yields are ticking up with the 2-year
approaching 1.38% while long term yields are lower.
- Investors are waiting for official news from federal officials on which banks
will be allowed to repay TARP funds, with an announcement expected as soon as
today. Various reports have indicated Goldman, American Express and JP Morgan
would be among the first banks granted approval to repay government funds,
while Morgan Stanley is also reportedly pressing hard to cleared as well.
Shares of JP Morgan are outperforming this morning, up 1% or so while nearly
all the other big bank names are in the red. Over the weekend Bank of America
Chairman Massey said the board is taking a "fresh look" at the
company's succession plan for CEO Lewis. This comment comes after there were
press reports on Friday that the FDIC was leaning on Citigroup to oust CEO
Pandit. In other financials news, Barclays said it might take a 20% stake in
BlackRock as part of the latter's purchase of Barclays Global Investors.
- Apple is holding its software developers' conference today, where many
analysts expect the company to roll out new, less expensive iPhone models. Any
news is expected after the keynote begins around 1pmEST. Shares of AAPL are
down 10% or so in early trading, while competitors RIMM and PALM are down about
2% or so. Note that Palm's Pre smartphone was launched this weekend,
exclusively with Sprint.
- In other equity news, Cardinal Health fine tuned its 2009 forecast at an investor
presentation this morning, guiding to the low end of its prior $3.50-3.60
range. Talbots said it would sell its J.Jill unit to private capital group
Golden Gate Capital for $75M. Rambus withdrew some patents from the ITC
proceedings against NVIDIA.
- In currencies, the greenback remained steady against the European pairs and
consolidated its earlier gains thanks to rising shorter-term interest rates and
lingering concerns over the health of European government fiscal and commercial
banking sectors. The earlier S&P downgrade of Irish corporate debt is also
a factor. Dealers are noting that German state-controlled bank WestLB AG
reportedly came close to being shut down at crisis talks over the weekend.
EUR/USD was probing the lower end of the 1.38 handle during New
York trading. IMF Chief Strauss-Kahn noted that an
recovery was not possible until banks are cleansed of their toxic assets and
warned that a large portion of losses currently carried on banks balance sheet
have not yet been disclosed. Both the AUD and CAD currency pairs were weaker
and lower third portion of the session range.
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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
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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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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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