***Economic Data*** - (GE) German Mar CPI - Baden Wuerttemberg M/M: 0.7% v 0.2% prior; Y/Y: 1.3% v 0.3% prior - (HU) Hungary Central bank cut the base rate by 25bps to 5.50%; as expected - (US) Feb Personal Income: 0.0% v 0.1%e; Personal Spending: 0.3% v 0.3%e - (US) Feb PCE Core M/M: 0.0% v 0.1%e; Y/Y: 1.3% v 1.3%e; PCE Deflator Y/Y: 1.8% v 1.8%e - (GE) Germany Preliminary Mar CPI M/M: 0.5% v 0.3%e; Y/Y: 1.1% v 0.9%e - (GE) Germany Preliminary Mar CPI EU Harmonized M/M: 0.6% v 0.3%e; Y/Y: 1.3% v 0.9%e - (US) Mar Dallas Fed Manufacturing Activity: 7.2% v -0.1% prior
- US personal spending data out of the Commerce Department this morning showed that consumer expenditures rose incrementally for the fifth month in a row in February. The data, plus the solid gains seen in mainland China and early European trading, are propelling modest equity gains in New York. Lurking in the background are the highly anticipated results of a critical Greek 7-year note auction, and investors positioning ahead of employment reports on Friday. In addition, the March Dallas Fed manufacturing data was very strong. Front-month oil is up nearly two bucks on the positive economic data, as well as a Goldman Sachs report making the rounds which notes that oil in floating storage has fallen by 24M barrels from its peak in November. Copper is near its best levels of the year back above $3.50 while gold and silver opened above their trading ranges from last week. Natural gas remains a hair below $4. Treasury prices initially traded higher off a lower open but yields have since climbed back to opening levels. The long bond yield is approaching 4.8% once again.
- Shares of Citigroup were slightly after the Treasury confirmed its plans to sell 7.7B shares of its stake in the bank in 2010. The Treasury reiterated that the sales would be made gradually in an orderly fashion to minimize their impact on trading. Rochdale's Dick Bove said that expectations for the government sales are already well baked into current valuation. Shares of Citi dropped into the red as several large blocks were sold after the open. In other equity news, Apollo Group missed earnings targets by a sizable margin due to a big slip in operating margins, although its guidance for next quarter was above par. Investors bought the name, sending shares of APOL up 6% before the open, although they fell off to +3% after the open. Merger Monday is less active than in past weeks this morning. Packaging manufacturer BWAY Holding is being taken out by private equity firm Madison Dearborn Partners for $915M, while Avnet plans to acquire computer component manufacturer Bell Microproducts for nearly $600M. BWY is up 15%, while BELM is up nearly 30%. Pacific Ethanol is down 20% after a subsidiary filed for reorganization for nearly $300M in debt.
- EUR/USD was off its best level as the NY morning commenced, with the Greek debt auction haunting sentiment. Greece's PDMA debt agency confirmed that that the initial pricing for the benchmark 7-year bond was in the neighborhood of 310bps over mid-swaps. Analysts have noted that Greece needs to show it can issue substantially the bonds inside of the mid swaps plus 300 bps points and longer the book stays open the worse it would be for the euro. The Hungarian Central Bank cut its base rate by 25bps to 25bps (as expected). The MPC said it had discussed a 50bps cat during the policy meeting.
***Looking Ahead*** - (CA) Bank of Canada Jenkins - (EU) ECB's Orphanides - (UK) BOE's Dale - (AR) Argentina Feb Shop center Sales Y/Y: No est v 18.2% 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."
Actionable trading levels delivered to YOUR charts in real-time.
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.