***Economic Data*** - (IR) Ireland Q4 GDP Q/Q: -2.3% v -0.1% prior; Y/Y: -5.1% v -7.1% prior - (BR) Brazil Mar FGV Consumer Confidence: 112.3 v 111.0 prior - (BR) Brazil Central Bank (COPOM) Monetary Policy Meeting minutes from Mar 17th (left rate unchanged): Reached consensus to raise rates at next policy meeting - (BR) Brazil Feb Unemployment Rate: 7.4% v 7.6%e - (CZ) Czech Central Bank leaves Repo Rate unchanged at 1.00%; as expected - (US) Initial Jobless Claims: 442K v 450Ke; Continuing Claims: 4.648M v 4.562Me - (SA) South Africa Central bank (SARB) unexpectedly cuts its interest rates by 50bps to 6.50% in a unanimous decision - (US) EIA Natural gas Inventories: +11 bcf vs. +5 to +10 bcf estimated range
- Positive weekly claims data, strong corporate news and the Dubai rescue plan all sent equities higher in premarket trading and investors have continued to show a propensity for risk as the morning has progressed. Note that the four-week moving average for the initial weekly claims are at six-month lows. The Greece situation seems more opaque than ever, and traders await some sort of statement outlining a plan for propping up the HellenicRepublic's finances either later today, or perhaps tomorrow. Fed Chairman Bernanke is testifying on the Hill this morning, although there has been little new in his rhetoric so far it remains clear and they are highly unlikely to get pulled off their current course. Banks stocks are subsequently leading the charge in today's equity markets. China's surprising trade deficit remains in the background this morning after several officials there resisted the call to let the Yuan appreciate. A SocGen analyst even went as far as to say a trade deficit could actually spur a devaluation of the Yuan. Note that earlier this morning permabull Roubini opined that there is a 50/50 chance China will be labeled a currency manipulator in the Treasury's semi-annual report on currency due out on April 15th. Front-month oil is up a bit on the day, while natural gas broke below the $4 handle for first time in nearly six months. Bond markets remain a point of concern after yesterday's disappointing 5-year auction results sent Treasury yields towards their highest levels of the year. The US 10-year benchmark yield is finding some resistance at 3.85% ahead of this afternoon's 7-year note auction.
- Mobile handset chip name Qualcomm is up 8% or so after raising its guidance for next quarter by a bit. Qualcomm's CEO said both the licensing and chipset businesses are projecting higher revenues. Competitor Broadcom is up 2% in sympathy. Note that on Tuesday, smartphone maker HTC said its earnings in the coming quarter would exceed expectations on robust demand for phones. Linux software firm Red Hat beat expectations in its Q4 report, on strong growth in subscription revenue. Nevertheless, shares of RHT are down more than 6% in the early going.
- ConAgra was right in line with the Street in its Q3 report and reaffirmed its full year view. Shares of CAG are down 4% in mid morning trade. Best Buy was modestly ahead of expectations and offered very strong initial FY11 guidance. Fast food name CKE Restaurants is up after crushing earnings expectations. Retailer Bakers Footwear is up more than 100% on impressive y/y results and positive comments on the company's prospects for its ongoing turnaround strategy. In addition, Bakers disclosed that lenders have dropped covenants from certain loan agreements. LuLulemon also crushed expectations, sending shares of the athletic wear maker up more than 10%.
- FX trading in the New York morning has been all about interest rates. USD/JPY moved above the 92.50 level and is testing a three-year downtrend resistance line as yield spreads continued to improve the dollar's appeal. Dealers noted that a poor showing in yesterday's 5-year debt sale has heightened anxiety about the 7-year auction later today. Traders were saying that activity in the 20-year bond ultra-short instrument tripled yesterday. The European pairs saw their earlier strength dissipate as the NY morning wore on. Emerging markets central bank rate decisions were center stage. The South African Central Bank surprised the market with a 50bps rate cut in its key rates while the Czech Central bank commented that its next move could be a cut as well after keeping its repo rate steady today. However, Brazil Central bank stated that it has reached a consensus to raise rates at its next policy meeting.
***Looking Ahead*** - Ongoing EU Summit - 11:00 (MX) Mexico Feb Unemployment Rate: % v 5.7%e v 5.9% prior - 12:00 (CO) Colombia Q4 GDP Y/Y: 1.7%e v -0.2% prior - 13:00 (US) US Tsy to sell $32B in 7-year Notes - 13:30 US Tsy Sec Geithner - 14:30 (EU) ECB's Gonzalez-Paramo
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.
GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium Mon 23 Apr 2018 A All Day- Flash PMIs AA 14:00 US- Existing Homes Sales Tue 24 Apr 2018 AA 01:30 AU- CPI A 08:00 DE- IFO Survey A 14:00 US- CB Confidence A 14:00 US- New Homes Sales Wed 25 Apr 2018 AA 14:30 US- EIA Crude Thu 26 Apr 2018 AA 11:45 EZ- ECB Decision A 12:30 US- Durable Goods A 12:30 US- Weekly Jobless Fri 27 Apr 2018 AA 03:00 JP- Bank of Japan A 08:00 DE- Employment A 08:30 GB- GDP A 14:00 US- University of Michigan
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.