***Economic Data*** - (UK) Mar CBI Distributive Trade: +13 v +23 prior - (US) ICSC/GS weekly chain store sales w/w March 20th: 0.1% w/w, 3.7% y/y - (BR) Brazil Mar IBGE CPI M/M: 0.6% v 0.5%e - (CA) Canada Feb Leading Indicator M/M: 0.8% v 0.9%e - (US) Redbook Retail Sales for the week ending Mar 20th: +3.4% y/y; MTD +0.9% v Feb - (BR) Brazil Feb Total Outstanding Loans (BRL): 1.44T v 1.42T prior; Private bank Lending: 833 v 828B prior - (US) Feb Existing Home Sales: 5.02M v 5.00Me; M/M: -0.6% v -1.1%e - (US) Jan House price Index M/M: -0.6% v -0.8%e - (US) Mar Richmond Manufacturing Index: 6 v 5e - (BE) Belgium Mar Business Confidence: -3.6 v -6.9e
- The US data in the premarket are not providing much of an impetus for trading this morning. The February existing home sales data declined very slightly from January levels, in line with expectations. The NAR said that the bad weather in February may have masked underlying demand as closings were postponed by winter storms and buyers couldn't get out to look at homes in some areas. In Europe, another round of European disunion over Greece is only keeping the dollar higher. Treasury Secretary Geithner is on Capitol Hill this morning discussing housing. He stated that reform of the GSEs would have to wait for greater market stability. The Administration is expected to roll out more reforms of the mortgage market this morning, with a focus on preventing foreclosures. By the late NY morning stocks are making new lows, albeit modest in a light volume environment, while Treasury markets are seeing bids. The US 2-year yield is just below 0.95% ahead of this afternoons $44B auction.
- Walgreens is up slightly after meeting the Street's expectations, taking shares of CVS and RAD with it. Carnival Corp topped earnings estimates, guided higher for next quarter and brought up the bottom of its full-year guidance range. In the release, CCL said booking volumes for the remaining three quarters are running ahead of the prior year with prices significantly higher than last year's discounted levels. CCL is up 3%. The red ink continues at KB Homes, whose quarterly loss was nearly twice the expected amount. The firm's backlog is up sequentially, however, and its cancellation rate continues to fall. The CEO believes the firm is positions to be profitable later in 2010. Shares of KBH are down 3%. Office furniture name Steelcase missed top and bottom line targets and guided under par. SCS fell more than 10% before the bell, but have regained some ground in early trading. Note that semi names are up slightly after micro cap name Integrated Silicon doubled its earnings guidance for next quarter thanks to growing DRAM demand, constrained DRAM supply and advantageous pricing. ISSI is up more than 20%.
- The greenback failed to move beyond established ranges against the euro on more uncertainty over just what may or not emerge from the EU Summit on Thursday. EUR/USD was trading above 1.3530 after holding above Monday's lows of 1.3460. The euro's downward momentum was curbed after reports that Germany would set conditions for a potential Greek rescue, including three fundamental points: involvement of the IMF, a commitment by European Union partners to tough new rules to control public debt and deficits in the euro zone and EU treaty changes. Although there are headwinds on the overall unity of the EU ahead of the summit, highlighted by comments from a German CDU party member that France should "go it alone" on support from Greece, complemented by comments from the Austrian finance minister, who noted that perhaps member states should examine removing Greece from Euro Zone. The EUR/CHF cross managed to hold above its all-time low established in the height of the 2008 global crisis at 1.4297, although it came within 15 pips of taking out the level.
***Looking Ahead*** - (US) US Tsy to sell $44B in 2-year notes - (AR) Argentina Feb Trade Balance: No est v $1.2B prior - (US) Fed's Yellen
- (US) Fed's Yellen
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.
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.