- 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.
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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
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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