***Economic Data*** - (SA) South Africa Jan Trade Balance (ZAR): -3.3B v -2.5Be v 3.7B prior - (SA) South Africa Jan Budget: -13.1B v 6.3B prior - (CL) Chile Jan Industrial Production Y/Y: -1.1% v 3.0%e; Industrial Sales Y/Y: -0.5% v 0.9%e - (CL) Chile Jan Unemployment Rate: 8.7% v 8.6%e - (CL) Chile Jan Copper Production: 424.0M tons v 502K tons prior - (CA) Canada Q4 Current Account: -$8.5Be v -$13.1B prior - (US) Q4 GDP Q/Q Annualized: 5.9% v 5.7%e; Personal Consumption: 1.7% v 2.0%e - (US) Q4 GDP price Index: 0.4% v 0.6%e; Core PCE Q/Q: 1.7% v 1.4%e - (BE) Belgium Jan Budget balance YTD: -â‚¬2.9B -â‚¬7.8B prior - (US) Feb Chicago Purchasing manager: 62.6 v 59.7e; highest reading since Apr 2005 - (US) Feb Final University of Michigan Confidence: 73.6 v 73.9e - (US) Jan Existing Home Sales: 5.05M v 5.50Me v 5.45M prior; lowest reading since Jun 2009 - (US) Feb NAPM Milwaukee: 56.0 v 56.0 prior
- US equity indices opened at or near yesterday's highs after the second reading of Q4 US GDP came in even higher than the preliminary data. UK GDP figures also bested estimates overnight and that along with the highest Chicago PMI in almost 5 years is overshadowing softer existing homes sales. The weak January Existing Home Sales index, which hit its lowest level since June 2009, briefly sent markets into the red but traders seemed to have at least attributed much of the softness to the poor weather. Greek headlines continue to be picked apart after the highly speculated about 10-year Greek bond auction was officially put off until next week, and separately a German lawmaker provided some detail of what a potential bailout package could look like. The 10-year Greek/Bund spread has narrowed some 25 basis points and CDS prices have declined. Major US indices are back in the black in mid morning trading but gains are marginal and volume is light. Front-month crude is up more than $1.50 on the robust GDP news, to trade just below the key $80 handle while the Euro has retaken the1.36 mark on chatter shorts are getting squeezed.
- AIG reported a quarterly loss of $8.9B this morning, warning once again that it may need additional government support. In a fresh sign of normalcy, the company did note it has adequate liquidity to finance itself for at least the next twelve months." Shares of the crippled insurance giant are down 8%.
- The Gap reported in line with expectations and hiked its 2010 dividend substantially. Executives promised robust 2010 earnings and revenue growth on the conference call. GAP opened in the black, but has fallen off to around -3% in early trading. Wynn came in firmly ahead of expectations. Steve Wynn said his company was conservative regarding the Las Vegas outlook, and that Macau has had a "very good start" to 2010. WYNN fell 2% in early trading but is off its worst levels. Pre-paid mobile firm Leap Wireless is not looking good in comparison to competitor MetroPCS: Leap's quarterly loss was much bigger than expected, although a similar bump in net customer adds to PCS was seen in the quarter. LEAP is down 4%, while PCS is down 2% or so. Dry Ships was largely in line with consensus estimates. On the conference call, DRYS's CEO said 100% of the company's ships would be on long-term time charters in 2010, and EBITDA would be well above current expectations. DRYS is down 4%.
- CKE Restaurants, which owns fast-food chains Hardee's and Carl's Jr., has agreed to sell itself to private equity firm Thomas Lee Partners for $928M in cash and debt. Under the terms of the deal, THL will pay $11.05/shr (a 24% premium to CKE's closing price yesterday). THL will also assume about $309M of CKE's debt. CKE is up 25%, JACK is up 5% and YUM is up flat.
- Currency markets were mixed during the NY morning as conflicting data and commentary limited fresh flows. Sterling maintained its soft tone as dealers mulled over the possibility of an early election for parliament. Dealers also noted that the upward revision in the US Q4 GDP report seemed baked into sentiment. EUR/USD has been unable to sustain any momentum over 1.36 while GBP/USD slumped to 1.5150. USD/JPY is just below the 89 handle. Markets continue to debate the timing of a possible revaluation of China's yuan, with some murmurs that it could come relatively soon.
***Looking Ahead*** - Fed's Dudley and Kocherlakota at NY policy forum - (CO) Colombia Jan Unemployment Rate: 13.5%e v 12.3% prior - Treasury Kruegar at Brookings Institute - Fed's Feinberg - Fed's Tarullo - (AR) Argentina Jan Construction Activity Y/Y: No est v 4.2% prior
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
Mon 18 Dec
10:00 EZ- final HICP Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes Mon 25 Dec
00:00 Christmas Holidays
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.