- US stocks opened higher but have been drifting lower after the expected
Treasury announcement on the banks cleared to repay TARP funds. Investors are
evidently selling the news, after a buying surge late yesterday afternoon.
Other cautious voices on the financial system have been heard, with Fed
Governor Fisher warning again that some banks are still too big to fail and a
Congressional bailout oversight panel stating that the stress tests might have
to be repeated. Yale economist Robert Schiller told Bloomberg TV that "We
may have a recovery, but I suspect it will be a disappointing one."
Front-month crude is strong again this morning, trading up above $69 while gold
is back above $950. The Greenback came under a fresh bout of selling pressure
after Goldman Sachs made a technical call by the Euro against the Dollar.
Yields continue to give back some of the recent gains with some steepening
across the curve. The 2-year has given back more than 10 basis points from the
highs yesterday to dip back below 1.3%. Later today the US Treasury is auctioning
off $35B in 3-year notes.
- After the close last night, the Fed approved the capital raising plans for
the 10 banks that were deemed in need of extra capital in the government's
stress tests. The WSJ later reported that the Treasury would approve $50B worth
of TARP paybacks this morning, while further press speculation about which
institutions would be cleared to repay continued through the US
open. In the end, Tresury Secretary Geithner stated just after the open of
trading that 10 banks holding a total of $68B in TARP had been approved for
repayment (without naming any individual firms); confirmation from the banks
themselves has been hitting the wires since that time. For the record, Geithner
noted that more than 600 banks have taken $199B in TARP funding.
- Since the announcement, Morgan Stanley, JP Morgan, American Express, Capital
One, Bank of New York, US Bancorp, State Street BB&T Corp and Northern
Trust have confirmed TARP repayments. AXP and COF are about the only names to
make significant gains on the news, with the two credit card companies up as
much as 4% on the news, although AXP is off its best levels. Most of the rest
of these names are trading around even or in negative territory.
- Apple is trading around even in the wake of its big iPhone news yesterday.
Multiple analysts raised price targets and made positive comments on the name
overnight. BoA/Merrill Lynch believes the new iPhone are likely to put some
near-term pressure on Research In Motion to move faster on user interface
innovation, although indicated that RIMM isn't that threatened by the
development. Shares of RIMM are up 2% today, while shares of PALM, which
released its competing Pre smartphone last weekend, are back around even after
rising as much as 5% after the open. Nuance and especially TomTom are riding
Apples coattails on the iPhone news, as software from both firms are integral
to the phone's speech recognition and GPS capabilities. Share of NUAN are up
more than 3% today, while the Netherlands-listed shares of TomTom have shot up
- In other equity news, Texas Instruments offered an upbeat mid-quarter update
yesterday, guiding Q2 results well above expectations and saying that the
semiconductor industry is making incremental improvements. Shares of TXN are up
6%, while the SMH is up 3% on the good news. Truck maker Navistar missed
earnings and revenue targets by quite a bit, and slashed its 2009 forecast
nearly in half. Navistar's CEO was not sunny on the economy, noting that the
recovery will likely take longer than expected, leading to the worst market
conditions for the firm in nearly half a century. NAV opened down 5% but has
risen back into positive territory in early trading. Apparel retailers Men's
Warehouse and Talbots both did markedly better than expected in Q1. MW was
solidly profitable (versus expectations for a small loss), while Talbot's
quarterly loss was half the expected amount. Talbot's CEO said the company saw
a substantial rebound in merchandise margin from the fourth quarter and is
seeing strength in key categories. Shares of MW are up 15%, while TLB is off
opening highs around even.
- The greenback and commodity prices were back in sync during the New
York session, reinforced
by a research note from Goldman Sachs that discussed five reasons for a weak
dollar, including rising risk appetite, the continued climb in commodity prices
and lingering doubts about the reserve currency issue. EUR/USD moved above the
1.3900 handle as New York traders
took the helm and proceeded to test above the 1.420 level before consolidating.
The reserve currency question is likely to have continued momentum as the BRIC
meeting later this month is expected to discuss the issue. There has been more
talk about an SDR as a new synthetic reserve currency, which has in turn
undermined confidence in the currently dominant reserve currency over the last
six weeks. The current IMF SDR basket contains about 40% USD and 37% for the
EUR, compared to the current share of about 60% USD and 30% for the EUR in
central bank reserves globally.
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.