***Economic Data*** - (BR) Brazil Oct FGV Inflation IGP-10 M/M: 1.2% v 1.0%e - (PD) Poland Sept Employment M/M: 0.2% v 0.1%e; Y/Y: 1.8% v 1.7%e - (PD) Poland Sept Avg Gross Wages M/M: -0.1% v 0.3%e; Y/Y: 3.7% v 4.0%e - (CA) Canada Aug Int'l Securities Transactions: C$11.1B v C$6.0Be - (US) Aug Total Net TIC Flows: $128.7B v $63.7B prior; Net Long-term TIC Flows: $38.9B v $61.3B prior - (US) Sept Industrial Production: -0.2% v 0.2%e; Capacity Utilization: 74.7% v 74.8%e - (US) Oct NAHB Housing Market Index: 16 v 14e
- US equities gained modestly this morning on strength in the financials and anticipation of a big earnings week, plus plenty of M&A action. Traders ignored the unexpected decline in the Sept Industrial production numbers just before the open and took profits after the relatively strong Oct NAHB index, which hit its highest level since June. Note that the NAHB said that the new homes market is finally moving past the lull that occurred when the home buyer tax credits expired and economic growth stalled this summer. There has been an interesting exchange among Fed governors over QE2. Yesterday Chicago Fed President Evans Reiterated his support for more accommodation, asserting that further QE should not be data dependent. This morning Fisher went on CNBC to reiterate that the Fed may or may not decided to carry out QE2, and said any decision will be data driven. Crude remains at the high levels seen last week, trading around $83, while gold is just shy of $1,370. US Treasury prices are higher, but the 10-year benchmark yield remains above 2.51%.
- Shares of Citigroup are still at their highs, up nearly 4%, after the bank's rather ho-hum earnings. Citi met analysts' expectations more or less in its Q3, but like JP Morgan last week, Citigroup said it sustained its bottom line in part by releasing money it had set aside to cover bad loans. Note that JP Morgan and Morgan Stanley is up more than 2% in early trading and shares of the other big banks are all in positive territory. Oil services giant Haliburnton modestly exceeded the consensus view. The company said its North American business generated record revenue, benefiting from robust activity in shale gas fields and a shift in drilling to oil basins from natural gas as prices for crude oil firmed during the quarter. Investors were not impressed, and shares of HAL are down more than 4%. Toy firm Hasbro is up more than 6% after modestly beating earnings estimates.
- A plethora of deals and even a deal failure or two have been announced this morning, including the end of the Rio Tinto/BHP joint venture effort. In regards to the latter, BHP and Rio said that their decision to end the attempt to form a jv comes after extensive talks with European regulators, including some, like Germany, who would have prohibited the deal outright. In the biggest announcement in recent memory, Northeast Utilities said it would acquire competitor NSTAR for $40.22/shr, in a deal worth $17.5B. St. Jude Medical announced that it would acquire cardiovascular and atrial fibrillation device maker AGA Medical for $20.80/shr in cash and stock, for a 41% premium to Friday's close, in a deal worth $1.3B. American Commercial Lines said it would be acquired by Platinum Equity at $33/shr, in a deal valued at $777M. Note that shares of Quicksilver Resources are up nearly 20% after a major holder said it was exploring alternatives for its stake in the name.
- FX trading during the New York session confirm there has been no newfound enthusiasm for the dollar, confirming that earlier dollar strength was more a result of positioning. The first monthly decline in US Industrial production since June 2009 had the EUR/USD pair little changed from its opening levels in Asia. In addition, the euro benefitted from news that Spanish PM Zapatero had secured an agreement with the Canary Islands Coalition which would ensure the passage through parliament the minority government's 2011 austerity budget. The light US calendar this week set the trading focus on equities and events elsewhere but dealers conceded the Nov G20 might become a factor as the week grinds on.
***Looking Ahead*** - 11:00 (EU) Euro-Area Finance Ministers Resume Meeting - 12:55 (US) Fed's Lockhart Gives Speech on Economy - 13:00 (GE) RWE Think Tank and German Econ Min Bruederle at Energy Roundtable - (AR) Argentina Oct Consumer Confidence: No est v 48.83 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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
Mon 26 Feb 2018 A 15:00 US- New Homes Sales Tue 27 Feb 2018 A 08:55 DE- Jobless B 13:30 US- Durable Goods A 15:00 US- CB Consumer Confidence A 15:00 US- Pending Homes Sales AA 15:00 US- Powell House Testimony Wed 28 Feb 2018 A 10:00 EZ- flash HICP AA 13:30 US- GDP A 15:30 US- EIA Crude Thu 1 Mar 2018 A All Day final Mfg PMIs A 13:30 US- Weekly Jobless AA 13:30 US- Core PCE Deflator AA 15:00 US- Powell Senate Testimony A 15:30 US- EIA Crude Fri 2 Mar 2018 AA 15:00 US- final Univ of Mich
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.