- US equities are choppy this morning as investors weigh the widely expected record results from Goldman Sachs and solid numbers from Johnson & Johnson against a bit of a surprise in June wholesale prices. The June PPI data showed wholesale prices rose far more than expected in the month, for their biggest gain since November 2007, due to higher energy prices. The data has bought some sellers into the Treasury market sending the 10-year yield up to 3.4% while weighing on stocks. Front-month NYMEX crude spiked above $61 earlier this morning, but the contract has retreated towards opening levels below $60.
- The first major financial company to report this earnings season, Goldman Sachs fulfilled widespread expectations from the last week for a blow-out second quarter. Topping its impressive performance in Q1, the bank holding company destroyed earnings and revenue expectations and delivered an impressive 23% return on equity (versus 14.3% last quarter).Trading and investment revenues were up a whopping 93% y/y and 51% q/q. And just after the open Goldman's CFO said the company is still talking with regulators about altering its financial holding status to "allow additional activities," prompting commentators to wonder just how dead the investment banking model really is. Goldman is up a modest 1% this morning after its shares traded up more than 5% over recent days; competitors BAC, JPM and MS are all down about 1% a piece. Note also that CIT is up 25% or so this morning after last night's report in the WSJ that the government is in advanced talks with the company over some sort of bailout.
- Dow component Johnson & Johnson reported Q2 results that were a bit above estimates and reaffirmed its full-year earnings forecast, while trimming its revenue outlook for the year slightly. On the conference call, JNJ's CFO said the results were among the most challenging ever for annualized comparisons due to the loss of patent coverage for Risperdal and Topamax. The company is seeing tighter consumer spending in certain parts of medical device business and continues to experience significant impacts from FX translation (-$0.06 EPS, -6% revenue impact). Railroad CSX beat earnings expectations in its Q1, although revenue lagged the Street by a bit. The company said it expects revenue to continue falling in Q3 in 8 out of 10 markets, with a return to strength in 2010. Shares of CSX are up 6%, while other leading railroad names are up 2-3%. In other earnings news, Sun Microsystems said it expects a much larger loss than analysts have been projecting in its Q4, with revenue weaker than expected as well. Oracle noted that it still expects Sun to be accretive to earnings in the first year. Take-Two also said it would loose more than expected in the quarter, and said it now projects a significant loss for FY09 as well. Shares of TTWO are down 9%.
- PC industry leaders Dell and Microsoft are both making headlines. At an investor meeting, Dell executives said they are seeing demand stabilize but also warned that the competition has improved as the dynamics of the industry evolved. While the enterprise business is still weak, the consumer unit is seeing strong results in the current quarter. After providing a glimpse at its online application strategy the other day, Microsoft unveiled its strategy and pricing for its Azure cloud computing platform. Shares of DELL are down 7% this morning, while MSFT is around even. Note that Intel reports after the close today.
- In currencies, the USD and JPY sustained a soft tone into the New York session as risk appetite gained a bit. Note that while the Asia session provided some optimism about green shoots, news out of Europe indicated that some cracks remain in the recovery. The German ZEW survey in particular highlighted the fact that any recovery would be bumpy. EUR/USD pushed above the 1.40 level but encountered some resistance after ECB's Hurley noted that monetary policy must support real economy and any interest rate hike should only come when the recovery was shown to be totally solid. Sterling drifted off its best levels after the June UK Commercial Property Values survey fell by 0.9%, for its 24th consecutive decline. GBP/USD is around 1.6300 during the New York morning. USD/CAD is probing below its 30-day moving average at 1.1400 and AUD/USD has been hovering around the 0.79 level for most of the morning.
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
Mon 19 Feb 2018
00:00 CN, US- Holiday Tue 20 Feb 2018
00:00 CN- Holiday A 10:00 US- ZEW Survey Wed 21 Feb 2018
00:00 CN- Holiday A All Day flash PMIs A 15:00 US- Existing Homes Sales A 15:30 US- EIA Crude AA 19:00 US- Fed Meeting Minutes Thu 22 Feb 2018 A 09:00 DE- IFO Survey A 09:30 GB- GDP AA 13:30 CA- Retail Sales A 13:30 US- Weekly Jobless Fri 23 Feb 2018 A 10:00 EZ- Final HICP AA 13:30 CA- CPI
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.