- US equity indices are generally making the first real advances of the week as
the blowout Philly Fed data prompts investors to buy stocks. The tech heavy
NASDAQ is the notable laggard in front of tomorrow's quadruple witching and
this afternoon's earnings results from RIMM. The initial jobless claims remain
above the 600K level, while the continuing claims have fallen on a w/w basis
for the first time in months. Some commentators believe the improvement had
more to do with benefits running out for long-term unemployed rather than any
uptick in hiring, however. The Philadelphia Fed provided a stark contrast to
Monday's disappointing June Empire Manufacturing data, with its survey of business
conditions dramatically better than expected (-2.2 V -17.0E), for the best
reading since last September. Front-month crude is back above $71 in early
- The brighter picture on the data front and the Treasury announcement that
they would be auctioning off $104B in new coupon supply next week has brought
sellers back into the bond market. The benchmark 10-year has popped back above
a 4.75% yield with the long bond rate nearing 4.6% once again.
- Financial stocks are bouncing back a bit after three days of declines now
that the broad outlines of the new financial regulation proposals have been
made clear. However, commentators are showing some doubts about Citigroup,
which many assume will not benefit from the new regulatory regime. GE Capital
is also likely to face more regulation under the new system. The WSJ points out
that GE's finance arm does not currently fall under the purview of a bank
regulator, while under the new regulations GE Capital would likely be
classified as a systemically important firm because of its size and be forced
to operate under stricter regulatory oversight. Shares of GE fell as much as 5%
in early trading, before heading back toward positive territory.
- Major industrial names Caterpillar and Emerson Electric disclosed order data
that hardly indicates any recovery is under way for these two companies. Cat's
three-month retail sales in North America fell 57%,
compared with declines of 51% and 41% in April and March, respectively. Retail
sales for the rest of the world fell 35% over the period, also at a faster pace
than in the prior two months. Emerson said order trends improved sequentially
in May from the month before, but continued to show weakness across its global
markets. Emerson's three-month order rate was down 25% in May, compared with
declines of 25-30% in March and April.
- In earnings, J.M. Smucker crushed analyst estimates in its Q4 report and also
guided full-year earnings above expectations. The company also managed
impressive y/y margin and US retail growth. Carnival Cruise Lines came in ahead
of expectations in its Q2, despite higher fuel prices and disruptions from
H1N1. The firm guided slightly below par for next quarter, and cut its
full-year forecast slightly. Discover Financial reported a profitable Q2 thanks
to a big payout from its lawsuit victory against Visa and MasterCard. Before
this special item, TTN analysis suggests that the firm lost $0.15 per share in
the quarter, compared to analysts estimates for a $0.30/shr loss.
- In currencies, rising risk appetite helped EUR/USD and EUR/CHF move higher
following the US weekly claims data, which saw the first w/w drop in continuing
claims since Jan 2nd and the largest weekly decline since Nov 2001. Overall,
risk appetite improved as participants took the data at face value. The better
Philly Fed and leading indicators also cemented the view that the worst of the
economic crisis has past. EUR/USD tested the alleged "Chinese" 1.4000
option barrier but encountered some stiff selling nonetheless.
- The sharp move in Swiss Franc-related pairs prompted renewed chatter of
currency intervention, with the Bank of International Settlements cited as the
intermediary. Dealers are noting it remains unclear whether 1.50 is the clear
"line in the snow" for SNB intervention. The market has significant
long EUR/CHF positions, and the cross was testing the 1.5000 in early New
York trading where plenty of option barriers seemed
vulnerable. SNB's Jordan
commented that the SNB had no fixed FX threshold. Nonetheless, the cross soared
to 1.5140 on rumors of intervention, with the BIS, the SNB and the ECB all
having "no comment" on whether actual intervention had occurred.
Dealers are now focusing on the key resistance level of 1.5230, which corresponds
to the downtrend line from the 1.6330 highs made in late July 2008.
- Oil and metals encountered a choppy session and the price movement was
reflected in the AUD and CAD pairs that mirrored the commodity price action.
USD/CAD tested the 1.1360 area before moving back to 1.1250. The pair was also
aided by the higher-than-expected Canadian CPI data. AUD/USD is back above the
0.80 handle as rising risk appetite put oil back in positive territory.
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.