- European equity markets opened to the downside as some mixed earnings releases mixed with a disappointing German June retail sales figures. This negative pressure was soon relieved in conjunction with a turnaround in shares of Barclays [BARC.UK]. Barclays, which had been trading negative following Q2 earnings, resumed a bullish course on the back of comments from its president regarding FT090 total impairment charges and the renewed hope that dividend payments could be restored by the end of 2009. Sector rotations out of ING rallied financial services, basic resources, chemical, auto and construction names to the positive side. European July PMI data beat expectations and furthered the equity lightness through 4:00EST. HSBC [HSBA.UK] released its first-half interim results at 4:15EST with a Net and adj Pretax that surprised estimates to the positive side. HSBC shares rallied sharply dragging first the financial and soon the broader markets higher on the back of comments that US loss impairment growth had been less than expected and that a market bottom had either been reached or was very close. Equity bourses at this time accelerated their gains to over the +1% hurdle. In sector performance, basic materials led the uptrend followed by financials and utilities. Defensive sectors and German listed/exposed retailers fair less well (demonstrated by Metro Ag [MEO.GE]). Large cap earnings out of FTSE100 listed companies pushed volumes in London ahead of their averages while the CAC and DAX displayed sub-average trading volumes.
- In individual equities: HSBC [HSBA.UK] reported H1 Net $3.35B v loss $600Me, Adj Pretax $7.5B v $4.1Be, Rev $34.7B v $38.4Be. Tier 1 ratio 10.1% v 8.3% h/h, total capital ratio at 13.4% v 11.9% y/y. - ROE 6.4% v 12.1% y/y. The bank's chairman said that operating conditions in the financial sector have continued to improve as the effects of government and central bank policies work through the system and it may be that we have passed, or are about to pass, the bottom of the cycle in the financial markets. Barclays [BARC.UK] reported H1 Net Â£1.9B v â‚¬2.2Be, Pretax Â£2.98B v Â£3.1Be, Rev Â£16.3B v Â£17Be, does not declare interim dividend. H1 Tier 1 Ratio 11.7% v 10.5% y/y. H1 impairment charges and credit provisions Â£4.6B. Shire [SHP.UK] reported positive Phase III results for VELAGLUCERASE ALFA. AstraZeneca [AZN.UK] FDA approves Onglyza For Type 2 Diabetes. RBS [RBS.UK] ANZ may be close to an agreement to buy the firm's operations in 6 Asian countries this week in a total deal worth A$930M. Metro [MEO.GE] reported Q2 Adj EBIT â‚¬307M v â‚¬297Me, Rev â‚¬15.3B v â‚¬15.4Be. Linde Ag [LIN.GE] reported Q2 Op Profit â‚¬566M v â‚¬551Me, Rev â‚¬2.78B v â‚¬2.9Be. Outlook for 2009: Further recovery in business trends expected compared with the first half of the year; however, 2008 record level no longer attainable.
- Speakers: Iran Supreme Leader officially approves Ahmadinejad's second term as president. The Polish finance minister sees July inflation at 3.5%, unchanged from the June reading.
- In Currencies: Continued gains in global equity markets have continued to drive risk appetite to the detriment of the greenback, which begins the week and month making fresh lows against the major European and commodity-related currency pairs. Pre-Lehman PMI readings throughout most of Europe have fed into equities. Sterling led the pack as the UK PMI manufacturing moved above the pivotal 50 level for the first time since April 2008. GBP/USD is probing towards the 1.68 handle while EUR/USD tested back above the 1.43 neighborhood before retreating. The AUD/USD tested fresh new handles with 0.84 dealing during the European morning while USD/CAD made an attempt to test below the 1.07 area. USD/CHF is probing a pivotal support line at the 1.0600, in which a break add new fuel to the USD downward path. The pair entering the NY morning at the 1.0675 level.
- In Fixed Income: Bunds have lost earlier gains and Gilts extended losses after stronger than expected Euro Zone PMI data. Sept Gilt off 25 ticks at 117.17 while the Sept Bunds were 18 ticks softer at 121.86. The European yield curves were flatter with the German 2-10 spread at 2.03 and the UK 2-10 spread at 2.59.
*** NOTES ***
- China PMI at one-year high aided by record lending and a 4 trillion yuan stimulus package
- Former Fed Chairman Greenspan: have seen "very significant" improvements in the economy, an economic collapse "is now off the table."
- Nouriel Roubini: Commodity prices may extend their rally in 2010.
- (RU) Russia Reserve Fund: No estimate versus $94.5B prior; Wellbeing Fund; No estimate versus $89.9B prior
- 8:00 (BR) Brazil Jun Industrial Production M/M: 0.4% expected versus 1.3% prior; Y/Y: -11.0% expected versus -11.3% prior
- 9:30 (BR) Brazil Jul PMI Manufacturing: No estimate versus 48.1 prior
- 10:00 US) July ISM Manufacturing: 46.5 expected versus 44.8 prior; Prices Paid: 51.5 expected versus 50.0 prior
- 10:00 (US) Jun Construction Spending M/M: -0.5% expected versus -0.9% prior
- 10:00 (BR) Brazil July Trade Balance: 3.6B expected versus 4.6B prior
- 12:00 (IT) Italy July New car registrations: No estimate versus 12.4% prior
- 13:00 (IT) Italy July Budget balance: No estimate versus â‚¬6.6B prior
- 13:00 (MX) Mexico July Non-manufacturing index: No estimate versus 47.4 prior
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 23 July 2018 A 14:00 US- Existing Homes Sales Tue 24 July 2018 AFlash PMIs Wed 25 July 2018 A 08:00 DE- IFO Survey A 14:00 US- New Homes Sales A 14:30 US- EIA Crude Thu 26 July 2018 AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless A 12:30 US- Durable Goods Fri 27 July 2018 AA 12:30 US- GDP A 14:00 US- Final University of Michigan
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.