***Economic Data*** - (US) MBA Mortgage Applications w/e Jan 22nd: -10.9%% v 9.1% prior - (US) Dec New Home sales: 342Ke v 355K prior - (RU) Russia Dec Real Retail Sales M/M: 20.2% v 17.9%e; Y/Y: -3.6% v -5.2%e - (MX) Mexico Nov Global Economic Indicator: -1.5% v -2.1%e
- Equity indices opened lower for the second consecutive session as European and Asian stock markets weighed on New York. US indices tested their lows in mid morning trading in the wake of the weak Dec new home sales data but losses have been minimal. The housing data missed estimates and fell nearly 8% on a sequential basis (following an 11% m/m decline in November). Yale Economist Robert Shiller warned that house prices could be faltering yet again and suggested the economy may need another stimulus package. The FOMC decision arrives later this afternoon, and while no major changes are expected traders continues to worry about the fate of Chairman Bernanke's pending nomination. The partisan rhetoric continues to heat up on the Hill, where Congressmen are taking swipes at Treasury Secretary Geithner over the AIG bailout. Apple's big product announcement is also scheduled for this afternoon. Treasury prices have remained bid as money continues to find its way to the relative safety of government bonds on both sides of the pond for many of the same reasons. Copper prices dropped to their lowest levels of the year below $3.30 after the Shanghai Composite closed below 3000 for the first time in months.
- Heavy manufacturing Dow components Boeing, Caterpillar and United Technologies offered strong quarterly results this morning. Earnings were ahead of expectations at all three firms, with Boeing well ahead of the Street. On the other hand, full year EPS forecasts at Boeing and Caterpillar both missed expectations, while UTX reiterated a range that lagged analysts' outlook. Boeing warned that its below consensus FY10 EPS reflects the lower revenue and includes some consideration for development program and market risks. CAT said economies in the developed world remain weak and have not rebounded as quickly as developing countries, impacting its earning forecast. Manufacturing names Illinois Tool Works and Stanley Works both missed bottom-line expectations. General Dynamics' revenue for the quarter was a little soft. Shares of BA are up 4% in early trading, while UTX, ITW, SWK and GD are all down 2-4%. CAT is down 8% and heading lower.
- ConocoPhillips and Valero topped expectations, and COP crushed revenue targets. However, the outlook is not bright for integrated oils. Valero warned that there is too much inventory and spare refining capacity in the industry for margins to rebound quickly, while new refining capacity is scheduled to come online this year. Both VLO and COP are trading off following the unexpected build in gasoline inventories announced by the DoE this morning.
- Yahoo met expectations, managing to sustain the quarterly performance seen over the last several quarters. YHOO rose 3% before the bell, but has been losing altitude in early trading. Semi names STMicro and Altera both beat earnings estimates. Altera sought to downplay all the talk of inventories driving demand, noting on the conference call that major customers are telling the company that the increase in demand is not because they are building inventories. Executives said Sees communications chips having a strong 3-5 year growth cycle, but clear visibility beyond one quarter is poor. STMicro said its sales would decline markedly next quarter. ALTR is up 6%, while STM is down 3.5%.
- Healthcare benefits administrator WellPoint offered excellent quarterly results, although its full-year forecast was a little soft. Cardiac device maker St. Jude was largely in line. Shares of STJ and WLP opened in the red and have climbed into positive territory mid morning. Pharma giant Abbott was also more or less in line, while biopharma Gilead crushed expectations. ABT is down 2%, while GILD is up 6%.
- In currency trading, rumors about pending sovereign downgrades in Portugal and Greece are weighing down the euro this morning. EUR/USD turned around and headed back toward the 1.39 handle, which was last seen back in July 2009. There is talk of an Eastern European option barrier at the 1.40 level that is curbing the dollar's upside momentum somewhat, however. Chatter that Greece was trying to get China to buy up to â‚¬25B in bonds made the rounds as well this morning, prompting denials from both the Greek Finance Ministry and the Greek debt agency. Investor George Soros summed up the current situation aptly, noting that the Greek debt problem shows up the shortcomings of Euro Zone structures and the inherent weakness of not having a single Euro Treasury. He later noted that Greek debt could be a good speculative buy.
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.