***Economic data*** - (CA) Canada July Int'l Securities Transactions: C$8.0Be est v C$5.4B prior - (CA) Canada July Wholesale Sales M/M: 0.1%e v -0.3% prior - (US) Sept NAHB Housing Market Index: 14.0e v 13.0 prior
- Volume is low and anticipation is high this morning as investors position themselves ahead of tomorrow's FOMC rate decision. Equity markets are getting bid up on the back of more M&A announcements and technical factors. The S&P500 is testing above its highs from mid June and early August as traders zero in on the market's ability to hold 1130-1133. While most analysts see low odds that the Fed will actually launch some form of QE2 in tomorrow's announcement, the language certainly could hint at the prospect of large scale asset purchases resuming in the final months of the year. Gold is just off all-time highs as traders hedge their bets, with December gold above $1,280. Note that crude is rolling from the Oct to the Nov contract, with the latter trading just short of $76. Treasury prices are little changed from Friday with the US 10-year yield up 1 basis point just below 2.75%.
- In earnings, Discover Financial is up 3% after widely beating consensus earnings estimates and meeting revenue expectations. Note that after declining noticeably over the last several quarters, Discover's loan loss provisions were flat with last quarter's amount. Homebuilder Lennar crushed expectations, thanks in part to higher margins and tax benefits. Shares of LEN are up nearly 7% on the news, while most of the major homebuilders are up more than 3%.
- Merger news continues unabated this morning. After months of unconfirmed talk, L-1 Identity Solutions said it was being acquired by French conglomerate Safran for $12/share in cash, for a total deal worth $1.6B in total. This is around a 24% premium to Friday's close. Safran plans to combine L-1's biometric and enterprise access businesses with its existing US security business, Morpho, for a unit with around â‚¬1.4B in sales. IBM picked up enterprise data analysis firm Netezza for $27/share, in a deal valued at $1.7B. Note that big blue has made numerous acquisitions in the data analysis area over the last several years and has called the business a key growth area. Private equity firm Hellman & Friedman is acquiring internet media company Internet Brands for $13.35/shr in cash, valuing the firm at $640M.
- Currency trading has been relatively subdued in the European and early New York sessions as dealers await tomorrow's FOMC decision as well as debt auctions in Greece, Spain, Ireland and Hungary. These peripheral European nations are scheduled to sell approximately $4B in relatively short-term debt. As US traders were arriving at their desks earlier this morning, a rash of sovereign jitters sent EUR/USD below the 1.3050 level. Fitch warned that Greece is barely holding on to an investment grade rating (recall that Moody's and S&P have already downgraded the nation's debt to junk), although Fitch said it is not planning any ratings moves until the end of October. Sterling was a little lower on somewhat unfavorable August money supply data, with GBP/USD trading as low as 1.5560. Note also that AUD/USD remains near two-year highs above 0.9450 following hawkish comments from the RBA.
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.