- In equities news overnight: European equity markets opened bid following a broadly negative session on Wednesday. Asian trading provided a mixed picture and cautious guidance commentary out of US tech giant Cisco [CSCO] provided a drag to equity exuberance. As seen throughout the weak, equities in Europe took cheer from Q2/H1 earnings releases. Strong earnings from the financial sector buoyed that segment, earnings out of Commerzbank [CBK.GE] and KBC [KBC.BE], while mixed, presented a clear improvement from Q1 results while earnings out of Hannover Re [HNR1.GE] and Zurich Financial [ZURN.SZ] were broadly positive. In consumer names, giant Unilever [UNA.NV] reported slightly light of expectations but posted solid margin, volume and pricing increases (those metrics analysts were most focused on). In choppy trading, equities pushed higher into 4:00EST. Past 4:00EST, Commerzbank conference comments regarding net interest levels remaining flat and projected increases in provisions for retail unit rapidly sent shares negative and brought the broader German integrated financial sector lower. Mixed results from a Spanish auction at 4:30EST furthered the drag on equity markets. While still remaining positive, markets fell rapidly from their best levels. Through 5:00EST, all three main European bourses printed strong volumes well ahead of summer averages with the FTSE outperforming, up nearly +45% at 330.6M shares traded. Equities and broader markets continue to prepare themselves for key data releases expected later in the European session. German Factory orders (6:00EST), BOE rate decision (7:00EST) and ECB rate decision (7:45EST) are anxiously awaited.
-In individual equities: Unilever [UNA.NV] Reports Q2 Net â‚¬758M v â‚¬852Me, Rev â‚¬10.49B v â‚¬10.51Be. Q2 Underlying sales growth 4.1%. Q2 Volume growth 2.0%. || KBC [KBC.BE] Reports Q2 Net â‚¬302M v â‚¬371.3Me (Includes items), Rev â‚¬2.19B v â‚¬2.2Be. Tier 1 ratio 10.8% v 8.3% q/q CEO: Business margins remained strong, sentiment on the capital markets improved, insurance results were solid and cost cutting is paying off. Trends for problem loans rose, but remained within expectations. We also marked down some investment banking positions that have been discontinued. || Commerzbank [CBK.GE] Reports Q2 Net Loss â‚¬764M v Loss â‚¬648Me, Op Loss â‚¬201M v â‚¬351Me. Rev â‚¬3.1B v â‚¬2.5Be. Provision for Loan Losses: â‚¬993M v â‚¬488M y/y. || Deutsche Telecom [DTE.GE] Reports Q2 Net â‚¬521M v â‚¬767.8Me, Rev â‚¬16.2B v â‚¬16.3Be. || Aviva [AV.UK] Reports H1 Pretax Â£747M v Â£84M y/y, Op Profit Â£1.05B v Â£1.22B y/y lowers interim dividend by 31% to 9p/shr, Delta Lloyd looking into possible IPO. || Cobhams [COB.UK] Reports H2 Pretax Â£141M v Â£127Me, Rev â‚¬952M v Â£912Me. Military and government business has performed well with organic revenue growth of 7% y/y. || Veloia Environment [VIE.FR] Reports Net â‚¬220.0M v â‚¬388.1Me, H1 Rev â‚¬17.4B v â‚¬18.2Be. || Hanover Re [HNR1.GE] Reports Q2 Net â‚¬202.9M v 146Me, Rev â‚¬2.37B v â‚¬2.4Be. ROE 26.6% v 30.0% y/y. ROI 5.4% v 2.7% y/y. || AirBerlin [AB1.GE] Reports July Load Factor 83.4% v 83.3% y/y. Passenger volume 2.81M (-3.3% y/y). || Delhaize [DELB.BE] Reports Q2 Net â‚¬125M v â‚¬122Me, Rev â‚¬5.1B v â‚¬5.0Be. Confirms FY09 guidance. || Zurich Financial [ZURN.SZ] Reports Q2 Net $892M v $874.8Me, Op Profit $1.5B v $1.4Be. Q2 Combined Ratio 96.2% flat y/y. H1 Net $1.3B v $1.2Be. ||
- Speakers: Australian PM Rudd commented that the distribution of part and full time employment was of concern. Note: earlier in the session Australian July Unemployment came in at 5.8% v 6.0%e, full time jobs fell by 16k with part time jobs rising by 48.2k || Fitch affirmed Kuwait's sovereign rating at "AA" with its outlook Stable
- In Currencies: The USD was steady ahead of BoE and ECB policy announcements later today. The EUR/USD continues to straddle the 1.44 handle, GBP/USD hugging the 1.70 mark and USD/CHF holding above the 1.06 level. Both central banks are expected to maintain their key interest rate levels. The key focus for the BOE is whether the quantitative easing program would be extended from the current ceiling of Â£125B. For the ECB, dealers are pondering whether the Trichet press conference would comment on the current level of the Euro
- Bank of America amended its ECB interest rate view and now saw a rate hike in June 2010 compared to its prior forecast of interest rate hike in Sept 2010. BoA sees 3.0% ECB rate by early 2011
- In Fixed Income: UK and German government bonds are are modestly weaker ahead of BOE and ECB rate decisions with Treasuries outperforming on a cross market basis in the prelude to another round of Fed buybacks. Spain sold â‚¬3.4B in 3 and 4y issues with respectable results. In corporates, Barclays announced plans to issue a benchmark 10y following its Kangaroo issue priced overnight , with pricing indicated at 140bps over swaps. Three month Euribor improved marginally to fix at yet another all time low of 0.883%
- In Energy: Petrobras [PTR} reportedly to be the To be exclusive operator of new sub-salt oil projects in Brazil.
*** NOTES ***
- Continue concern that China's PBOC will combat what is perceived to be a Chinese equity price bubble
- BOE: The question is whether the Quantitative easing program would be extended. Recent data suggests 50-50 either way
- ECB press conference to be the key. Focus on any mention of exit strategies or potential for further widening of credit support. Dealers pondering if any mention of recent Euro strength to be addressed
- US job picture also on radar now.
- (CZ) Czech Central Bank Interest rate decision: No change expected from the current 1.50% in its Repo Level
- 7:00 (UK) Bank of England (BOE) Interest Rate decision: No change expected in the current 0.25% level. Key focus is whether the BOE will increase its APF from the current ceiling of Â£125B
- 7:00 (BR) Brazil Jul FGV Inflation: -0.4% expected versus -0.3% prior
- 7:45 (EU) ECB Interest rate Decision: No change is expected from the current 1.0% level
- 8:30 (CA) Canada Jun Building Permits M/M: -3.0% expected versus 14.8% prior
- (EU) ECB Press Conference
- 8:30 (US) Initial Jobless Claims: 580K expected versus 584K prior; Continuing Claims: 6.250M expected versus 6.197M prior
- 11:00 (US) Jul ICSC Chain Store Sales Y/Y: No estimate versus -5.1% prior
- 11:00 (US) US Fed to purchase notes/bonds
- 15:00 (BR) Brazil to sell Floating-Rate-Notes (FRNs) and bonds
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.