***Economic Data*** - (US) MBA Mortgage Applications w/e Apr 16th: +13.6% v -9.6% prior - (CA) Canada Feb Wholesale Sales M/M: -1.2% v 1.0%e - (BE) Beligium Apr Consumer Confidence: v -13 prior - (US) DOE weekly energy inventories: Crude: K v -500Ke; Gasoline: K v +500Ke; Distillate: K v +800Ke; Utilization: % v 86.0%e
- US equity indices initially traded higher post the NY open despite continued peripheral debt jitters, essentially riding the coat tails of another blowout quarter from tech bellwether Apple Inc. Strong earnings reports from a handful of Dow components, and both Morgan Stanley's and a crowd of regional bank's reports were also helpful. Regardless risk averse trades have dragged the Nasdaq and S&P500 into the red in mid morning trading. US Treasury prices have rallied as equities have given back early gains. The US curve is flatter helped by the benchmark 10-year yield slipping back below 3.75% Front-month crude is off a little following weekly DoE inventory data that revealed a build in all three products, trading around the $83 handle..
- Morgan Stanley is up 4% in early trading after beating top- and bottom-line expectations by healthy margins. Note that the bottom-line outperformance was substantially adied by a one-time tax benefit. Much like Goldman yesterday, Morgan Stanley's proprietary trading revenues were significant higher over last quarter. Super regional bank Wells Fargo was a bit ahead of EPS targets, although revenue disappointed, sending its shares down 3% in the premarket. Note that Wells recovered nicely in the first 30 minutes of trading, rising to +1.5%. Although the banks loss provisions were still rising in the quarter, its non-performing assets and charge offs have apparently peaked. Regional banks SunTrust, Zion Bancorp and KeyCorp both reported smaller-than-expected quarterly losses. Provisions for loan losses fell sequentially at all three banks, and STI's CEO said his bank is seeing a significant decrease in credit-related costs. ZION is up 6%, STI is up 1% and KEY is up 8%. Moody's is down 3% despite strong quarterly revenue.
- Apple destroyed consensus estimates in its Q2 reports yesterday. Consumer-facing corporate giants McDonalds, AT&T and Altria offer solid quarterly results, with reported earnings modestly above par at all three names. US comps are finally taking off for McDonalds, after flattish to negative quarterly comparisons more recently. Despite more or less solid financial results, AT&T is off more than a point in early trading thanks to sequential declines in net wireless, postpaid and u-verse subscriber additions. On the conference call, AT&T executives warned it is still early to talk about a recovery in the firm's business revenue, despite "improving metrics" within the segment. Despite solid results in its Q2, Altria trimmed its 2010 outlook and warned that next quarter will be "particularly difficult" for earnings growth.
- Boeing soared as much as 4% in early trading after reporting earnings at least 10% better than estimated, although these gains have been tempered by comments on the conf call, as executives note that current business environment will continue to place pressure on defense and security units. Lockheed and United Technologies are both up one percent a piece or so on solid earnings and firm 2010 outlook.
- The New York morning began with a rising tide of risk aversion as the European peripheral situation continued to bubble over with vague chatter a possible Greek debt restructuring. The 10-year Greek/German spread widened out a record +520 bps as Greece finally commenced discussions with IMF officials about aid. Greek Finance Minister Papaconstantinou commented that Greece could activate the EU aid package before the IMF discussions conclude in two weeks time and also noted IMF talks would include a discussion of Greece's FY11 fiscal policy. Papaconstantinou called chatter about Greece restructuring its debt "absurd," although the price action in New York suggests there may be something to the talk of a 1.3350 defense; dealers were discussing sovereign buying near that level. German Finance Minister Schaeuble addressed the German legislature and noted that it would be a mistake to allow a Euro Zone member state to default as the consequences would be unforeseeable. Peripheral concerns seemed to subside as the morning progressed, as the IMF's updated World Economic Outlook slightly adjusted its 2010 global growth outlook upwards to +4.2% from its Jan view of +3.9%.
***Looking Ahead** - No further events seen
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.
Mon 18 Dec
10:00 EZ- final HICP Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
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.