- The absence of any US economic data has cleared the way for an overall
subdued trading environment, considering it is a quadruple witching Friday.
Equity indices are posting modest gains while commodities generally tick higher
and the greenback languishes. US Treasury prices opened lower as yesterday's
selling pressure carried through to this morning's open in Chicago, but prices
have since recovered today's losses. Yields still remain a good margin away
from last week's multi-month highs and are trying to recover from yesterday's
mortgage back induced selling. Soothing commentary from Treasury Secretary
Geithner as well as the EU after its recent summit are undergirding optimism.
In addition, GM is likely to emerge from bankruptcy a month ahead of schedule,
by mid July, according to press reports. Front-month NYMEX crude is up a bit,
trading just under $72.
- Rochdale's Dick Bove made positive comments on
Citigroup this morning, noting that he belives the bank's shares could rally as
much as 28% in the near future, to $4.00/share. Shares of Citi remain in
positive territory as the rest of the major banks sink into the red. The New
York Times writes that private equity firm Kohlberg Kravis Roberts may cancel
its plans to list on the NYSE. It was planning to merge its operation with KKR
Private Equity Investors, but now it may pursue the merger without the
complicated process of listing in New York.
- Research in Motion's Q1 results and Q2 forecast were more or less in line
with estimates yesterday afternoon. Analysts have reacted tepidly this morning,
with BoA/Merrill Lynch reiterating its prior price target of $100 and lowering
its 2010 earnings estimates on the firm, while Thomas Weisel raised their PT
ever so slightly. Apple is launching its 3GS iPhone today; AT&T noted that
it has sold "hundreds of thousands" of the new model in preorders.
Shares of Apple have held steady all week, while PALM has jumped 10% in the
early going this morning. Shares of RIMM are down 2%. Carmax zoomed ahead of
estimates in its Q1 report today, sending its shares up as much as 15% in early
trading. A Carmax executive said that the used car market continues to be less
bad than market for new cars. Smith & Wesson reloaded its Q4 revenue
guidance thanks to its acquisition of Universal Safety Response, Inc, putting
it well above the consensus estimates.
- UBS shined some light on the solar industry in a sector report, raising its
2010 global demand estimates thanks to the emerging recovery in China
and the US.
However, it lowered its solar module price estimates to near marginal cost.
UBS's top global industry picks included First Solar, Wacker Chemie, Yingli
& OCI Company. It rated Yingli and SunTech Power at Buy based on favorable
cost structures and strong distribution. In addition, it sees SunPower as best
positioned to win in the US
commercial and residential markets. UBS downgraded SolarWorld, citing lower
estimates for gross margin based on ASP pressure
- In currencies, the greenback maintained a tone of consolidation tone during
the New York session despite
firmer equities, with EUR/USD unable to capitalize on higher gold or oil
prices. CAD retraced its earlier strength and moved above the 1.13 level
following the weaker than expected Canadian retail sales data. The Mexican
Central Bank said its easing cycle was almost over and stated that the second
half of 2009 should see improvement in its economic activity. The bank cut its
overnight rate by 50bps to 4.75% this morning, as expected.
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.
Tue 19 June 2018 A 12:30 US- House Permits/Starts Wed 20 June 2018 A 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude Thu 21 June 2018 AA 11:00 GB- Bank of England Decision A 12:30 US- Weekly Jobless Fri 22 June 2018 AFlash PMIs
John M. Bland, MBA co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
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.