***Economic Data*** - (PL) Poland Apr NBP Inflation Expectations: 4.3% v 4.4%e - (ZA) South Africa Mar Budget Balance (ZAR): -11.5B v +5.8B prior - (ZA) South Africa Mar Trade Balance: -5.5B v -4.3Be - (US) Apr NAPM-Milwaukee: 52.9 v 53.0e - (US) Mar Personal Income: 0.4% v 0.3%e; Personal Spending: 0.3% v 0.4%e - (US) Mar PCE Deflator M/M: 0.2% v 0.3%e; Y/Y: 2.1% v 2.2%e - (US) Mar PCE Core M/M: 0.2% v 0.2%e; Y/Y: 2.0% v 2.0%e - (CA) Canada Feb Gross Domestic Product M/M: -0.2% v +0.2%e; Y/Y: 1.6% v 2.1%e - (CA) Canada Mar Industrial Product Price M/M: 0.2% v 0.0%e; Raw Materials Price Index M/M: -1.6% v +0.3%e - (CL) Chile Mar Unemployment Rate: 6.6% v 6.6%e - (CL) Chile Mar Total Copper Production: 423.1K v 379.5K prior - (CL) Chile Mar Retail Sales Y/Y: 9.2% v 10.9%e - (CL) Chile Mar Manufacturing Index: 0.2% v 3.0%e - (US) Apr Chicago Purchasing Manager: 56.2 v 60.0e (lowest level since Nov 2009) - (UK) BOE buys Â£1.6B in 2015-2019 Gilts in reverse auction; bid-to-cover:2.57 x v 2.25x prior - (US) Apr Dallas Fed Manufacturing Activity: -3.4 v 8.0e
- US equity markets are rolling over this morning following last week's solid gains. Note that the S&P500 was just about 1% away from its recent four-year highs by the end of last week, making for a very sensitive market. In Europe, Spain followed the UK into official recession territory and drumbeat of bailout fears and anti-austerity commentary resurfaced. S&P futures turned negative before the US open, and cash trading sent the index steadily lower over the first hour of trading. Two negative regional manufacturing surveys have not helped matter: the April Dallas Fed index widely missed expectations and the Chicago Purchasing managers' index hit its lowest level since November 2009.
- Health insurance name Humana missed Q1 earnings estimates and offered a Q2 earning guidance range that was significantly weaker than expected. On the conference call, Humana executives said that the balance of FY12 earnings would fall in the second half of 2012, with more costs coming in the first half. Shares of HUM are down 6%. Generic pharma name Watson met expectations in its Q1 and reiterated its full-year outlook. WPI advanced 2% in the premarket but has given up these gains and is trading down 1% mid morning. Chemicals name Lyondell Basel missed top- and bottom-line expectations slightly, thanks to high prices for crude oil inputs. Shares of LYB are down 5%.
- Microsoft disclosed another piece of its tablet computer strategy this morning, announcing that it has agreed to invest $300M in Barnes & Noble's Nook digital reader business. For Barnes & Noble, the deal helps establish the value of the Nook business: the agreement values the Nook and college textbook business at $1.7B. Shares of BKS rose by 85% in the premarket on news of the deal. In other deal news, medical device maker Hologic said it would buy diagnostic test firm Gen-Probe Inc for about $3.75B in cash, or $82.75/shr, a 20% premium to Friday's closing value. The big deal of the morning was Sunoco, which Energy Transfer Partners proposed to acquire for $50.13/shr in cash and stock. Pipeline operator Energy Transfer Partners has seen the value of its natural gas pipeline transport business sink along with the price of gas, and hope to bolster its margins with Sunoco's crude oil pipeline network. Note that Sunoco is still divesting its refining business and will continue talks with Carlyle Group LP to buy its Philadelphia refinery.
- In FX trading, USD/JPY tested below the 80 handle in mid-morning trading. Weaker Canadian GDP data sent the CAD currency lower in the session. USD/CAD pair was back at 0.9865 area after testing 0.9805 earlier today.
***Looking Ahead*** - (CO) Colombia Central Bank Interest Rate Decision: Expected to leave the Overnight Lending Rate unchanged at 5.25% - (US) US President Obama hosts Japan PM Noda - 11:00 (DE) German Chancellor Merkel holds Schleswig-Holstein State Election Rally - 11:00 (US) Fed to purchase $1.5-2.0B in Notes - 11:30 (US) Treasury to sell $30B in 3-Month and $28B in 6-month Bills - 12:00 (EU) EU's Juncker and EU Commissioner Rehn - 12:00 (CO) Colombia Mar Urban Unemployment Rate: 11.5%e v 12.5% prior - 13:00 (DE German Chancellor Merkel holds Schleswig-Holstein Election Rally - 15:30 (MX) Mexico Mar YTD Budget Balance (MXN): No est v -24.3B prior - 17:30 (US) Fed's Fisher speaks on jobs in Beverly Hills, CA - 18:00 (FR) French President Sarkozy's Party holds Labor Day Rally in Paris
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."
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.
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.