- Investors are taking heart from the moderation in job losses seen in this morning's employment reports. The October ADP employment report showed slightly more job losses than expected, although the numbers declined by the smallest month-over-month loss since July 2008. The Challenger job report noted that that light can be seen at the end of the tunnel but cautioned US employment gains will not come as quickly as the job losses did. This afternoon's FOMC decision is looming large as commentators and investors alike continue to debate the prognosis for the developing exit strategy. PIMCO's Crescenzi said the Fed was unlikely to make any major changes in the policy statement, contradicting press commentary from last week that the Fed was considering softening its committment to keeping rates low "for an extended period." Front-month NYMEX crude is gaining ground, with the contract hitting fresh one-week highs above $80.50 in mid-morning trade helped by another all time high in gold, a rebounding Euro and a substantially larger than expected drawdown in crude inventories. Treasury prices are lower as the 10-year yield flirts with 3.5% post the quarterly refunding announcement.
- Financial names are gaining along with overall markets this morning, despite more skepticism from Meredith Whitney, who reiterated her long- term cautious view on the sector in a report this morning. Whitney also commented on the Fed's MBS program, saying that no matter how the FOMC handles the exit strategy, be it gradual or immediate, the effects will be expensive for mortgage securitization. In financial sector reports, Hartford Financial Services crushed Q3 estimates and guided FY09 earnings far above the consensus view. HIG opened up around 6%, but is around +3% in mid morning trading. Shares of mortgage insurers Radian and Ambac are surging (+15% and +40%, respectively) after the firms surprised to the upside.
- Major health insurance names are up 4-6% this morning in the wake of Tuesday's election results. Many commentators see the Republican gubernatorial wins in Virginia and New Jersey as a referendum against President Obama and the Congressional Democrats' healthcare plans. Wellcare is up 12% (but off its best levels) after a largely in line report.
- General Motors has been much in the headlines this morning after it confirmed rumors that it intends to retain its European unit, Opel. But many commentators have emphasized that high costs for restructuring Opel are the last thing the troubled firm needs, and more problems could emerge if the economy sours again or does not improve in 2010. GM's Finance arm GMAC disclosed that its quarterly loss doubled on a sequential basis in Q3, with credit losses more than doubling. Auto parts supplier TRW Automotive reported three times the expected earnings in its third quarter thanks largely to cost cutting.
- Among other earnings, Kraft beat bottom-line expectations and missed revenue targets. The company said it remains interested in Cadbury, but hedged things in saying on the conference call that it is "well positioned with or without the Cadbury. Shares of KFT are down 3% or so. Fertilizer manufacturer Agrium was largely in line with the Streets expectations, but guided a wide range below consensus due to the weak 2009 harvest. AGU is up very modestly. Quarterly losses at Pulte Homes grew in Q3, and the company said it has fallen out of compliance with certain credit covenants. Investors are bullish despite the awful results, sending PHM up 7%.
- Dollar sentiment still shows the greenback is seen as a carry trade funding currency. Media commentary continues to note that US Treasury officials are expressing no concerns about dollar weakness and seem to believe current trading is not a major concern for the US. EUR/USD bounced off its current uptrend line from its 2009 lows achieved in March during the US session. European dealers were saying there is chatter about good selling pressure in USD/CNY long-dated forwards ahead of President Obama's visit to China later this month. Dealers are again speculating that this could prompt a weaker dollar again other Asian pairs in coming months as well. USD/JPY price action was centered on an option expiration set for Friday, with chatter that 91 strike will act as a magnet. Sterling maintained a firm tone ahead of the BoE policy meeting on Thursday, with everyone waiting for the Quantitative Easing (QE) portion of the MPC statement. Some potential merger flows also aiding the pound after Kraft obtained $9B financing from bankers for a possible hostile bid for Cadbury.
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 19 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
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.