- (US) NOV NET LONG-TERM TIC FLOWS: $126.8B V $30.0BE; TOTAL NET TIC FLOWS: $26.6 V -$13.9B PRIOR - (CA) BANK OF CANADA (BOC) LEAVES RATES UNCHANGED AT 0.25% - AS EXPECTED
- Equities are off to a strong start this morning after the holiday yesterday and Friday's big slide. Citigroup latest quarterly loss is the focus of commentary this morning, although traders are shrugging off the bank's poor quarterly performance (the loss citied in various whisper numbers was not much smaller than the reported figure, after all), in marked contrast to their response to JP Morgan's surprise last week. The other topic is healthcare, with the voters at the polls in Massachusetts all day in a decision that may decide whether the Democrats will maintain control of the Senate and finally pass healthcare reform. Hospital names are seen as losers if the reform fails - and they are in the red in early trading. Conventional wisdom has it that insurers could benefit from a failed reform effort. US Treasury prices are a little lower but yields are only a few basis points above where they went out on Friday. The 10-year yields 3.7% once again. Commodity prices are generally softer as the stronger Greenback serves as a slight headwind. Feb crude is trading near $77.50.
- Citigroup reported a $7.6B quarterly loss this morning, although the EPS loss was in line with the Street's expectations. Note that this is the bank's ninth consecutive quarterly loss. Revenue was well below the consensus view. The bank took a $5B after-tax hit after buying back preferred securities from the Treasury after repaying its TARP funds. The government still owns nearly 8 billion shares, worth about $26B at current market prices. Shares of Citi fell as much as 3.5% after the opening bell, although the name is back in the black in mid morning trade. Morgan Stanley is up 2%, while BAC and JPM are down about 1%. MS and BAC both report tomorrow morning. Goldman Sachs is due on Thursday morning.
- In other earnings, Forest Labs is up more than 6% despite a miss on EPS (ex restructuring costs, earnings were more or less in line). Ameritrade is up 3% after missing targets slightly; total assets and accounts were both up on a sequential basis. Parker Hannifin is up nearly 7% after crushing consensus EPS estimates and raising its FY10 outlook considerably. Management cited big margin improvements for the outperformance. Navistar fell as much as 10% before recovering much of the losses in mid day trading after slashing its FY10 earnings outlook to well below analysts' expectations.
- In other equity news, Brink's is up more than 30% after selling its Broadview Security unit to Tyco International for $2B in cash and stock. Tyco is unchanged. The Williams Companies launched a $12B restructuring effort this morning, saying it would combining its pipeline and processing units and more than triple its stake in Williams Partners midstream processing partner as it angles to take a bigger stake of the growing domestic midstream gas market. The fallout continues from Verizon's price cuts: there was takeover rumors making the rounds in prepaid firm MetroPCS. This comes after talk on Friday that prepaid firm Leap Wireless was looking at strategic alternatives. Sprint, with its ongoing declines in postpaid membership, was cut to Underperform at Sanford Bernstein, sending its shares down 4%.
- The Dollar received a bid in particular against its European counterparts during the overseas session. The Euro was hindered by weaker than expected sentiment readings for the month of January while UK inflation figures surged to 10-month highs. The Euro has drifted back towards 1.4250 bringing the 200-day MA (last breeched in March) and Dec lows back into sight as key support. Cable slipped as low as 1.6310. The Dollar briefly spiked against the Loonie after the Bank of Canada left rates on hold, trading up towards 1.0350 briefly. Dealers continue to eye the 1.0430 Nov and Dec pivot as some resistance, and the Lonnie still trades just off its best levels since the summer of 2008.
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.