***Economic Data*** - (RU) Russia Mar Industrial Production M/M: 15.3% v 10.5%e; Y/Y: 5.7% v 3.0%e - (BR) Brazil Apr FGV Inflation IGP-10 M/M: 0.6% v 0.5%e - (PD) Poland Mar CPI M/M: 0.3% v 0.4%e; Y/Y: 2.6% v 2.6%e - (IC) Iceland Mar Unemployment Rate: 9.3% v 9.3% prior - (CL) Chile Mar Copper Exports: No est v $2.7B prior - (US) Initial Jobless Claims: 484K v 440Ke; Continuing Claims: 4.639M v 4.580Me - (US) Apr Empire manufacturing: 31.9 v 24.00e - (US) Feb Net Long-term TIC Flows: $47.1B v $29.7Be; Total Net TIC Flows: $9.0B v -$33.4B prior - (US) Mar Industrial Production: 0.1% v 0.7%e; Capacity Utilization: 73.2 v 73.3%e - (US) Philadelphia Fed: 20.2 v 20.0e - EIA Natural Gas Inventories: +87 bcf v +75 to +85 BCF estimated range
- The strong April Empire Manufacturing survey is front and center this morning, with the survey only a bit lower than the five-year high seen last October. Note that the employment sub component was very strong, while the prices paid subcomponent hit its highest level since September 2008. The slightly higher than expected weekly claims data depressed indices before the open, although the data is firmly in the rear view as traders push equities higher, aided and abetted by strong UPS earning guidance and some positive corporate earnings. Note that Citigroup passed the key $5/shr level in early trading this morning for the first time since last fall. Front-month crude is down a few cents, taking a pause after testing the $86 handle in yesterday's session. Natural gas is headed lower after the weekly gas inventory report.
- Economic bellwether UPS is up more than 6% this morning after reporting preliminary Q1 results that crushed not only the Street's estimates, but also the company's own guidance from early February. In addition, UPS hiked it full-year earnings view by nearly 10%. Executives stated the results were powered by a significant acceleration in the international package and supply chain businesses and improved operating margins across all three of the company's segments. FDX is up an additional 3% on the news. Fast food potentate YUM! Brands reported results that were slightly ahead of expectations and reaffirmed its prior guidance. YUM emphasized that profits are being driven by international sales, especially in China, and that sales are not performing to expectations in the US. Shares of YUM are up 4%. Trucking firms Landstar Systems and JB Hunt both modestly exceeded expectations in quarterly reports yesterday evening. Comments from both firms were encouraging: Landstar stated that trends in March and April are much stronger than last year, while JB Hunt said spot market rates increased in the current quarter, another sign of improving transportation economics. LSTR and JBHT are both up around 6%, while competitor YRCW is up 10% on the news.
- In other news, Novellus is not really benefitting from its improved Q1 guidance, given that the name gained 5% yesterday on the strong results from chip major Intel. In addition, the better Q1 projection was chiefly due to a tax benefit. Charles Schwab is down 1% after soft Q1 results, especially on the top line. Apache announced another big acquisition this morning: the firm is taking out Mariner Energy, in a cash and stock deal valued at $2.7B, plus the assumption of $1.2B in Mariner debt. Much of Mariner's portfolio comprises Gulf of Mexico assets (plus some unconventional onshore plays). Note that on Monday Apache said it would buy Devon's Gulf of Mexico assets for around $1B. Mariner has risen more than 40% on the news to meet the deal terms, while APA is down a bit.
- The European peripheral situation continued to dominate the price action for the euro. The spread on the 10-year Greek/German bond narrowed from earlier levels to dip back below the 400bps level. The EUR/USD has yet to fill the week's opening gap presented from last weekend Euro Zone announcement of a â‚¬30B aid-package available to Greece in bilateral loans. The IMF is expected to offer a further â‚¬15B and just stated today that it was beginning negotiations with Greece. The dollar saw some momentum wane after the weekly jobless claims data re-enforced the view that any improvement in the labor market would take time to unfold thus continuing to be a headwind against a sustainable economic recovery. EUR/USD is stabilizing around 1.3560 area. USD/JPY off its European lows and at 93.00 area
***Looking Ahead*** - 11:30 (IS) Israel Mar Consumer Prices M/M: % v 0.1%e v -0.3% prior; Y/Y: % v 3.2%e v 3.6% prior - 12:15 (US) Fed's Bullard in NY on financial risks - 13:00 (US) Apr NAHB Housing Market Index: 16e v 15 prior - 13:30 (SZ) SNB's Jordan - 13:40 (US) Fed's Lockhart press briefing - 15:00 (US) Paul Volker in NY on financial risks
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.