S&P +18 NASDAQ +35.7
- Equities and commodities are surging once again following and overwhelming
return of investors' risk appetite. Relatively thin holiday conditions, strong
historical performance during the Thanksgiving week, and continued supportive
Fed speak have emboldened the bulls. The euro surged just ahead of the European
stocks open, gold is at fresh all-time highs above $1,170, front-month crude is
back at the high end of its six-week range, testing $80. October existing home
sales were +10% from September levels, adding fuel to the fire. Treasury
markets are only slightly lower. The 2-year yield is up off of last week's 14
months lows to trade at 0.73%. This afternoon $44B in 2-year notes kicks off
crammed auction calendar ahead of the Thursday break.
- Tech Data is up 3% after solidly beating top- and bottom-line estimates. The
firm noted that there are clear signs of an improving outlook for the company's
business. Tyson is more or less unchanged after a decent Q4 report and upbeat
comments about 2010. Valspar Corp is off nearly 3% after missing revenue
- In other news, Hershey is very close to launching a $17B friendly bid for
Cadbury, topping Kraft's $16.8B offer launched back in early September. The
offer, which is not ready for prime time quite yet, would reportedly include
$10B in cash. Cadbury is said to be much more agreeable to a Hershey offer. Kraft
is reportedly ready to raise its bid in response.
- The greenback remained vulnerable throughout the New York morning but managed to stay below
the 1.50 level despite continued strength in crude and gold. Comments
supportive of the dollar continue to emanate from global officials, although
they are having less and less impact on markets. ECB Chief Trichet may have
reiterated yet again that he appreciate US support for a strong dollar, but
the comments bounced right off EUR/USD. There was unconfirmed chatter that China was discussing a possible
investment in Greek debt in the background. Dealers noted that rumors suggest
that China might buy 25% of outstanding Greek
debt; which if true could mean a â‚¬80B investment.
- Note that in gold the market remains fixated on a December gold option
expiration with a $1200 strike price. Traders noted that options settle at
1:30pmET, although exchanges give traders the rest of the afternoon to manually
exercise options even if they're out of the money.
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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.
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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.
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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.
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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.
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