***Economic Data*** - (US) MBA Mortgage Applications w/e Mar 5th: 0.5% v 14.6% prior - (IC) Iceland Feb Unemployment Rate: 9.3% v 9.0% prior - (BE) Belgium Q4 Final Q/Q: 0.3% v 0.3% prior; Y/Y: -0.8% v -0.8% prior - (US) Jan Wholesale Inventories: -0.2% v 0.2%e - (UK) NIESR GDP Estimate: 0.3% v 0.6% prior - (US) DoE Weekly Inventories: Crude: +1.4M v +1.8Me; Gasoline: -3.0M v +100Ke; Distillate: -2.2M v -1Me Utilization: 80.7% v 81.9%e
- Some late equity strength in Europe plus very strong gains among US bank stocks carried US indices higher this morning. The secondary US economic data was not particularly good, however. Volume in the NYSE has picked up again, after several sessions of below average participation, although the tech-heavy NASDAQ continues to lead trading in the US. April crude is up $1.40 briefly testing $83 a level not seen since the first few sessions of 2010. Treasury prices are under some pressure as money finds it way to stocks. Ahead of this afternoon's $21B 10-year note reopening the cash yield in the benchmark has slipped back towards 3.75%.
- Big banks are back in the headlines this morning as multiple rumors have boosted shares of Citi and AIG since yesterday afternoon. Shares of Citigroup are up more than 12% over since yesterday's open (+5% in the current session), while AIG were up a whopping 35% since yesterday's open at one point in early trading today. Yesterday the FT reported that regulators told US banks not to raise their dividends or buy back shares until political and economic uncertainty surrounding the banking industry eases; later the SEC denied these reports. Before the open, Rochdale's Dick Bove said yesterday's trading action saw demand for Citi prefered securities flowing into common stock (he also said Citi would post a loss in Q1 and Q2). There were reports that Citi its real estate investment unit to Apollo Management. CNBC's Faber attributed some recent strength in Citi and AIG to a possible short squeeze. Other leading US bank stocks are up around 2% on the day.
- Another bunch of retailers is moving on December quarter results this morning. American Eagle Outfitters is up 6% on slightly better than expected revenue and guidance for next quarter. Bon-Ton is up 12% on bullish 2010 guidance. J.Crew and Collective Brands are both down more than 4% despite better than expected results from both firms. Children's Place is unchanged on flat quarterly results and in line guidance. Cult microcap stocks A123 and AeroVironment are volatile in early trading. Lithium auto battery maker AONE's revenue was ahead of expectations, although its quarterly loss was a bit bigger than expected. AVAV was in line and lowered its 2010 guidance, although shares of the combat drone maker are up to +2% or so after opening at -8%. In M&A news, shares of Terra are up 2% or so after the firm said CF's most recent acquisition offer, at $47.40/shr, beats Yara's offer. This comes after months of calling CF's earlier offers inadequate.
- The yen was broadly softer during the New York morning as it finally fought off flows associated with the Japanese fiscal year end, in which exporters repatriate money back home. The US 3-month LIBOR rate continues to remain above the corresponding JPY Libor fixing since the move last week. There remains growing chatter that the BOJ might be leaning towards easing monetary policy further at its policy meeting next week. USD/JPY above the 90.70 level with the 93 level deemed as pivotal medium term. On a weekly note the last coordinated central bank move in this pair back in 1995 was performed under growing similar technical circumstances (move occurred at 95 back then after posting a 79.20 all-time low during that cycle.
***Looking Ahead*** - (US) US Treasury to sell $21B in 10-year Note reopening - (US) Feb Monthly Budget Statement: -$210.0Be v -$42.6B prior - (NZ) New Zealnad Central Bank (RBNZ) Interest Rate decision: Expectations for the Official Cash Rate to remain at 2.50%
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 23 July 2018 A 14:00 US- Existing Homes Sales Tue 24 July 2018 AFlash PMIs Wed 25 July 2018 A 08:00 DE- IFO Survey A 14:00 US- New Homes Sales A 14:30 US- EIA Crude Thu 26 July 2018 AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless A 12:30 US- Durable Goods Fri 27 July 2018 AA 12:30 US- GDP A 14:00 US- Final University of Michigan
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.