- Equities are holding onto modest gains in the early going as investors position themselves ahead of tomorrow's FOMC decision. Commodities are moving higher with equities as the USD continues to make one-year lows against the euro. Data has been light, with a regional industrial production index from the Richmond Fed lower than expected and the July house price index very modestly higher. After trading back below $69 in the Asia and European sessions, November crude has zipped right back to test above $71.50. Treasury prices have firmed from a flat open with the 2-year yield slipping back towards 0.95% ahead of this afternoon's $43B auction. The when issued note is trading at a noticeable discount ahead of the results yielding 1.02%.
- The financials are out in front this morning after Bank of America closed a deal that could end its loss sharing agreement with the Treasury. Back in January, BoA struck a deal with the government for loss protection on $118B of Merrill Lynch assets, but the bank has been trying to get out of the arrangement since May. Rochdale's Dick Bove increased his BoA price target to $25 from $19 on the news. Singapore's sovereign wealth fund (GIC) said it has cut its stake in Citigroup below a 5% threshold though open market sales. As of Sept 11th, GIC had a 9% stake. Shares of BAC are up 2.5%, while Citi is up 4%. Also note that the New York Times is reporting that regulators are mulling a plan to have healthy banks lend billions of dollars to rescue the FDIC's insurance fund. Recall that back in May, the FDIC proposed a one-time special assessment fee on assets held by banks in a plan to raise $5.6B for the fund.
- Three consumer-oriented names reported mostly solid quarterly numbers this morning. Carmax positively crushed profit and revenue targets and its business metrics were up across the board. Executives said traffic has steadily increased from the start of 2009, and said this was only partially due to cash-for clunkers. KMX is up nearly 8%. Carnival Corp beat estimates, although guidance for next quarter was notably lower than estimates. The company's full-year forecast is still beating the Street. Executives said pricing has been lower due to late booking, but said additional deterioration in pricing is not expected. Shares of CCL are up more than 7%. ConAgra was a bit ahead of earnings targets and slightly below revenue targets, and also raised its 2010 earnings forecast. On the conference call, the CEO said 2010 is off to a good start, with better profits across the consumer portfolio. Investors expected more, evidently, as CAG is in the red. In other earnings, railcar manufacturer FreightCar America destroyed estimates, helped by increased orders for new railcars and lower expenses. RAIL is up 18%.
- In pre-earnings guidance, home renovation name Lowe's reiterated its 2009 guidance range and offered a first glimpse at its 2010 forecast. Earnings ranges for both periods were lower than analysts' expectations, although revenue goals were largely in line. Executives at Lowe's continue to point to more DIY projects as a positive sign for the business. LOW is down a few percent, while rival HD is down as well. At the UBS healthcare conference, Biogen Idec guided 2009 largely in line with expectations. PAETEC Holdings said full-year revenue would meet Wall Street's expectations.
- The greenback maintained its soft tone during the early part of the New York session as dealers continued to speculate about the possible implications for the dollar of the G20 summit later this week. The summit, set for Sept 24-25, may address the issue of global currency imbalances, and dealers believe this could prompt more bearish USD momentum. Current speculation has it that a concerted effort to re-balance the global economy might "talk down" the USD. This morning EUR/USD is holding near its recent one-year highs of 1.4822 made earlier in the session but retracing a bit following the softer than expected US housing price data for July. The Loonie moved off its best levels following negative surprise in Canada's July retail sales data for both the headline and the ex-auto component. The South Africa Reserve Bank (SARB) maintained its interest rates at 7.00%, as expected. SARB Chief Mboweni noted that there has been some concern about appreciation of the ZAR but added that a firmer currency was helpful to the inflation outlook.
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 17 July 2018 AA 08:30 GB- Employment A 13:15 US- Industrial Production AA 14:00 US-Powell Testimony Wed 18 July 2018 AA 08:30 GB- CPI A 12:30 US- Housing Starts/Permits AA 14:00 US-Powell Testimony Thu 19 July 2018 AA 1:30 AU- Employment AA 08:30 GB- Retail Sales A 14:30 US- EIA Crude A 12:30 US- Weekly Jobless Fri 20 Jun 2018 A 12:30 CA- CPI/Retail Sales
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.