***Economic Data*** - (CA) Canada Mar Consumer Price Index M/M: 0.0% v 0.2%e; Y/Y: 1.4% v 1.6%e - (CA) Canada Mar Core CPI M/M: -0.2% v 0.1%e; Y/Y: 1.7% v 2.0%e - (CA) Canada Feb Retail Sales M/M: 0.5% v 1.0%e; Ex Autos M/M: -0.1% v 0.5%e - (US) Mar Durable Goods Orders: -1.3% v 0.2%e; Durables Ex Transportation: 2.8% v 0.7%e - (BE) Belgium Apr Business Confidence: -2.4 v -2.6e - (MX) Mexico Mar Preliminary Trade Balance: $237.3M v $590.0Me - (MX) Mexico Mar Unemployment Rate: 4.8% v 5.2%e - (US) Mar New Home Sales M/M: 411K v 325Ke
- Uncertainty remains in the air this morning as strong US economic data butts heads with evolving sovereign concerns in Europe. Greece formally requested activation of its package of emergency loans this morning, sparking a flood of commentary from officials as well as the media. Markets initially appeared calmed signified by narrowing sovereign spreads and a retracement in credit default swaps, but questions continue to build surrounding the complexity and timeline of the implementation process. March US durables (ex transport) blew out expectations and posted strong growth with nondefense capital goods orders excluding aircraft up very strongly. Then after the open March new home sales showed very strong growth along with a substantial decline in supply. US Treasury futures remain lower, weighed down by yesterday's supply announcement and the improving data points. The US 10-year yield has climbed back above 3.8% while the 2-year stands at 1.05%.
- Shares of American Express and Capital One both headed higher in after market trading as quarterly reports showed the credit card issuers are turning the corner on credit losses. AmEx modestly exceeded analysts' expectations in its Q1 report, while Capital One crushed expectations, partially thanks to accounting changes. As has been seen among other financial institutions reporting over the last two weeks, credit metrics from both firms are showing distinct improvement. AmEx's loan losses provisions are declining firmly, down nearly 50% over last year's levels, while COF's net card charge-offs are firmly trending downward. AXP is up 4.5% mid morning, while COF approaching the flatline. Visa and Mastercard are both up on the news. Note that there have been reports the Senate probe of ratings agencies has found the agencies were overly influenced by Wall Street firms and used outdated models for rating complex securities. The ratings agencies are flat on the news.
- Microsoft offered the usual staid, inline quarterly report, noting that revenue has been driven by strong demand for Windows 7. Shares of MSFT are down -2%. On the conference call, Redmond's CFO said a new cycle of business IT spending is expected to start this year and should extend for several years. Amazon offered solid quarterly results free of any surprises. The company insists that sales of its Kindle eReader remain strong despite competition from iPad. AMZN is down 4%. European semi name STMicro offered soft results in their Q1 report and also raised its dividend. STMicro's CEO forecasted that the global semiconductor market would grow 15-20% this year, significantly increasing his prior view. STM is off more than 6%. Hard disk manufacturer Western Digital was comfortably ahead of the Street in its Q3. WDC is up 8%.
- Among manufacturing names, Ingersoll-Rand missed expectations and offered a very wide range for its 2010 earnings. Johnson Controls met expectations in its Q2 and raised its 2010 guidance. JCI's CEO said the firm is seeing strong signs of recovery, with orders rising across all geographic regions. Rockwell Collins exceeded earnings targets. IR is down 7%,while JCI and ROC are flat.
- The bond markets have reacted sharply to Greece's mayday call, while the euro has mainly taken the news in stride. The Greek five-year CDS is down from records level around 650 bps to below 550 bps while the premium between the 10-year Greek/German bonds narrowed to 490bps from record highs around 590. However, market participants seemed to look past the safety-net to speculate the Greek tragedy would not end with activation, with expectations running high that the government would be forced to return for more funding soon. With focus turning to the demands imposed by the IMF, sentiment appears to be that the Euro Zone will probably need a weaker currency to offset deflationary policies in the peripheral member states.
- The yen was weaker against the major pairs on interest rate differentials. Better German IFO and peripheral debt concerns sent European yields higher. The US rates firmed following the Durable Ex Transportation data and talk that at least 6 FOMC members were favoring asset sales to implement the US exit strategy. The Canadian Dollar was softer thanks to tepid inflation and retail sales data. USD/CAD was holding above parity with USD buy-stops building above the 1.01 area. Dealers did note that CAD has been aided by reserve manager diversification in every overnight session for the last three weeks.
***Looking Ahead*** - 15:00 (AR) Argentina Mar Trade Balance: $850Me v $604M prior - 15:00 (AR) Argentina Mar Industrial Production M/M: No est v 3.4% prior; Y/Y: 8.0%e v 11.0% prior - 18:00 (US) US Tsy Sec Geithner pre-G20 press conference - G7, G20, IMF and World Bank meetings in Washington DC Apr 24th-25th
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.
Mon 19 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
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.