10 Things You Need To Know Before The Opening Bell
- Japan's Nikkei sunk -1.59% but other Asian markets fared better. Australia's S&P/ASX 200 climbed 1.07% and Korea's Kospi gained 0.30%. European markets across the board were slightly higher.
- Weekly jobless claims data will be published at 8:30 am. Consensus is for 336,000, up from last week's 326,000. The International Council of Shopping Centers in conjunction with Goldman Sachs will also release chain store sales data.
- Orbitz, PriceLine, Advance Auto Parts, Noodles & Co. and T-Mobile announce earnings today.
- China's latest trade data beat expectations today but some analysts are already questioning the validity of the print. "One important question in investors’ mind is whether we can trust the quality of these trade statistics because they were significantly manipulated between October 2012 and April 2013," Bank of America Merrill Lynch's Ting Lu writes. "As RMB/USD stopped appreciating, hot money started flowing out and the government took severe measures to crack down on fake trade after April, we believe the quality of trade data was improved a lot."
- As expected, the Bank of Japan did not announce any adjustments to its current policy. But BOJ governor Kuroda issued a statement aimed at Japanese elected officials, according to Bloomberg's Toru Fjioka and Masahiro Hidaka. "Ending deflation and raising the sales tax are achievable at the same time," said Kuroda. "Restoring fiscal health is absolutely necessary and important by itself, but once fiscal discipline is loosened, it’s true that that will indirectly make a negative impact on monetary measures."
- Tesla shares climbed more than 13% in after-hours trading in the wake of another huge earnings beat. EPS clocked in at $0.20/share against an expected loss of -$0.19/share, while revenue ticked $405 million against $387.9 million expected. Here's Morgan Stanley's Adam Jonas on the results: "An excellent quarter of execution, surpassing already high expectations. Tomorrow's stock reaction will depend on how the company explains the unchanged full year delivery guidance as a function of supply rather than demand. Despite expectations that continue to rise nearly as fast as the share price, Tesla seems to have found a way to deliver yet again."
- You'll also definitely want to check out how Tesla CEO Elon Musk responded when asked about BMW's hyped i3 electric car...
- Groupon reported better-than-expected revenue as it named Eric Lefkofsky the new CEO. Sales hit $608.7 against $606 million expected; EPS of $0.02/share came in at expectations. The company also announced a $300 million share buyback.
- Greek unemployment continued to climb and hit another new record, ticking 27.6% in May, an increase from 27.0% last month. A full 65% of Greeks aged 18-24 are jobless.
- Be sure to check out our Steve Kovach's review of Google's new Moto X phone. He writes, "[It is] a good phone. Despite all the marketing hype, it's not going to knock your socks off, but it is the most accessible and easy-to-use Android phone I've ever tested."
good luck -
- Asian markets saw mixed gains. Japan's Nikkei climbed 0.07%. Korea's Kospi fell -0.11%. Australia's S&P/ASX 200 dropped -0.19%, but Hong Kong's Hang Seng closed 0.70% higher. In Europe, everyone is down except London's FTSE, which is up 0.28%.
- It's a pretty quiet day for U.S. economic data. June wholesale trade figures will be published at 10 am, with a consensus for 0.4% gain against a -0.5% decline in May. And that's it. There are no major earnings announcements today.
- Meanwhile, China dropped a bunch of new data overnight, and nearly all of it was positive: fixed-asset investment increased 20.1% YOY against 20.0% expected, industrial production climbed 9.7% YOY against 8.9% expected, and the number of visitors from Hong Kong to China increased 25.3% in June YOY. Retail sales slowed slightly. "By considering the rebounding official PMI and trade data as well as the subdued inflation readings in July, we expect today’s data will have quite a positive impact on commodities, commodity-related currencies and some Chinese stocks (especially cyclical names exposed to [fixed-asset investment])," BAML's Ting Lu said. "We believe many Street economists will likely revise up their 3Q GDP growth forecasts soon."
- its equities holdings to a record 63.4% of its portfolio, against a record low in bonds of 35.7%. "I have said before it is less a reflection of enthusiasm for the equity markets and more a lack of enthusiasm for the bond markets," fund CEO Yngve Slyngstad said.
- The IEA lowered its global oil demand forecast for 2013 and 2014, citing recent GDP forecasts from the IMF. Consumption estimates for 2013 were cut 30,000 barrels per day to 895,000 barrels per day, and growth into 2014 was slashed 1 bp to 1.1 million barrels per day. But US 2013 demand growth was revised upward to 0.3% from 0.0% on a strengthening recovery. Longer term, demand will come down on fundamentals, the agency said.
- Brent crude oil futures contracts are up this morning on a report from Reuters' Julia Payne that unrest in Libya, where output is already at its lowest level since 2011, has ramped up again. "In the latest development, field workers at its Arabian Gulf Oil Company (AGOCO), with complaints over management, said late on Wednesday they would cut output by 10,000 barrels per day (bpd) every day their demands are not met. They join a wave of strikes by oil workers and protests by people demanding work, that began in late July, shutting down the two largest terminals of Es Sider and Ras Lanuf."
- French industrial production unexpectedly fell -1.4% for June; consensus was for +0.03%. May's print showed a -0.03% drop. There was sunnier news in the UK, where the June trade deficit shrank to £8.1bn, against £8.5bn expected and a £8.7bn print in May.
- Reuters' Heng Xie and Gabriel Wildau report China is taking measures that may signal it is planning to bail out lenders or other entities holding distressed assets. "China is developing a new trading platform to enable banks to sell off loans to a wider range of investors...Currently, the lack of well-established precedents for asset disposals effectively leaves banks only two options: sell non-performing loans in private deals, mostly with big state-backed asset management firms, or keep rolling them over indefinitely to avoid booking a loss."
- Fallout from Detroit's bankruptcy filing is spreading, at least in Michigan. On Thursday, Saginaw County withdrew a $61 million bond sale to cover pension obligations. It represents the third municipality to delay or withdraw a debt float since the Motor City filed for Chapter 9 protection last month.
Last edited by Samirofi; 08-09-2013 at 07:47 PM.
- Markets in Asia were higher in overnight trading. The Japanese Nikkei 225 rose 2.6%, the Hong Kong Hang Seng advanced 1.2%, and the Shanghai Composite rose 0.2%. European markets are trading higher, with the German DAX leading the way, currently up 0.8%. In the United States, futures point to a positive open.
- The U.K. RICS home-price index suggests that prices rose to their highest level in seven years in July. The index increased to 36 in July from 21 in June. Economists had predicted a much smaller advance to 24.
- Overnight, the Bank of Japan released the minutes from its July 10-11 policy meeting. The minutes revealed concern on the board of governors over the fiscal position of the Japanese government. Some on the board weighed in on the controversial consumption tax hike scheduled for April, saying it was important that the administration sticks to the timetable for hiking the tax.
- Machine orders fell 2.7% in June following a 10.5% advance in May. Economists predicted a larger drop of 7%. "In this ongoing economic recovery led by Abenomics, recovery in capital investment should come in the last stage, perhaps in 2H 2014 or later," says Deutsche Bank economist Mikihiro Matsuoka. "One-year JPY depreciation does not seem sufficient to induce domestic capital investment. Unless Japanese companies regain their long-term confidence in the Japanese economy, they probably will not see enough incentives to increase domestic capital investment."
- German consumer prices rose 1.9% year over year in July, unchanged from the month before and right in line with estimates. "Looking at the components of the national CPI measures released by Destatis, the pressures came from the food prices which accelerated from 4.7% [year over year] to 5.1% [year over year], adding 4 [basis points] to the headline yearly rate," says Société Générale economist Herve Amourda. "On the downside, the seasonal effects were slightly more marked this July, as both the 'clothing' and the 'recreational and culture'components decelerated, cutting 8 [basis points] to the headline rate."
- The German ZEW survey of economic sentiment revealed that the index of confidence rose to 42.0 in August from 36.3 in July. Economists had predicted it would rise to only 39.9. Meanwhile, the eurozone ZEW index jumped to 44.0 in August from 32.8 in July.
- Tesla CEO Elon Musk unveiled his plans for the "Hyperloop," a transportation system comprised of 28-passenger pods that whip through steel tubes at speeds up to 760 miles per hour between L.A. and San Francisco. Musk believes the Hyperloop will cost $7.5 billion at most.
- Dick's Sporting Goods announces second quarter earnings this morning before the opening bell. Analysts expect the store chain to report earnings of $0.76 per share, up from $0.65 the year before, on revenues of $1.58 billion, up from $1.44 billion the year before. The announcement precedes a spate of other earnings reports this week from retailers like Macy's, Kohl's, Wal-Mart, and Nordstrom.
- Advance retail sales data for July showed that sales rose 0.2% last month after advancing an upward-revised 0.6% in June. Economists were expecting sales to rise 0.3%. Retail sales excluding autos rose 0.5%, versus expectations for a 0.4% gain.
- Also of note in the U.S. today are June business inventories data, due out at 10 AM, and a speech by Atlanta Fed President Dennis Lockhart, who speaks on the economy at 12:45 PM.
- Asian markets were lower. Japan's Nikkei fell -1.5%. Australia's S&P/ASX 200 closed down -1.0%. Korea's Kospi index was off -0.1%. Stock exchanges in Dubai and Riyadh were also down big. European markets were also trailing across the board led by the DAX at -0.9%.
- Pending home sales data for July gets published at 10 am ET today. Analysts are expecting a -1.0% drop compared with -0.4% prior. That's the only major data point for Wednesday — but it's a pretty important one, as our Matthew Boesler explained yesterday.
- U.S. MBA mortgage applications fell -2.5% for the week ending Aug. 23 against -4.6% prior.
- Gold and oil are up again as commodities markets digest whether and how a U.S. strike on Syria would play out. The yellow metal climbed 0.3% to $1,424, while London-traded Brent crude contracts hit $115, an increase of 0.8%.
- The Rupee continued its unprecedented plunge overnight, ticking 68.75 against the dollar as fallout from a controversial grain spending bill, worries about U.S. fed tapering and persistent economic sluggishness in India continued to take a toll. "It is just impossible to put any realistic value to the rupee any more," AlJazeera quoted Uday Bhatt, a forex dealer with UCO Bank, as saying. The Rupee is now off 19% for the year.
- Turkey's Lira is also having a very bad week, now off -3% to as much as TL2.0681 against the dollar. We told you about what happened when the head of the country's central bank tried to calm markets about the drop-off (it totally backfired).
- The New York Times' website is still down for many users this morning after getting hacked by the pro-Assad group Syrian Electronic Army. The LATimes' Paresh Dave has details of how analysts think the group got access to the site: "Melbourne IT, an Australian firm that allows website owners to buy addresses such as latimes.com, said the downtime suffered by the New York Times website Tuesday began when hackers gained access to the user name and password of one of the company's sales partners. Using those reseller's credentials, hackers changed the records that tell computers around the world from where to download web pages when someone types NYTimes.com into an Internet browser." The Times is publishing stories at http://news.nytco.com/. The "Army" was also able to hack multiple foreign domain names of Twitter as well as Huffington Post's UK site.
- Japanese utility Tepco now says it actually found the contaminated water storage tank leak announced August 19 in July. And as expected, Japan's nuclear regulator upgraded the severity of the situation at failed nuclear plant to Level 3, meaning there is the potential for non-lethal but substantial radiation exposure. Tepco stock fell nearly 4% Wednesday.
- The UK Independent believes a new UN ruling could freeze all wind farm development in Britain and leave existing structures open to challenge. "The United Nations Economic Commission Europe has declared that the UK flouted Article 7 of the Aarhus Convention, which requires full and effective public participation on all environmental issues and demands that citizens are given the right to participate in the process," Margareta Pagano reports.
- 17-year-old Victoria Duval beat former U.S. Open champion Samantha Stosur Tuesday. Duval is ranked 296th in the world, and as our Tony Manfred reports, has an incredible backstory that involves being held hostage and her father narrowly surviving the 2010 Haiti quake.
- Markets in Asia were mixed in overnight trading. The Japanese Nikkei 225 fell 2.2%, the Hong Kong Hang Seng rose 0.6%, and the Australian S&P/ASX 200 rose 0.2%. European markets are in the red across the board with the exception of Italy, currently up 1.1%. In the United States, futures point to a negative open.
- ADP's monthly estimate of private payroll creation is the big data release of the week, given that the government shutdown prevents the jobs report from coming out on Friday. Economists predict the ADP report will reveal the addition of 180,000 private-sector payrolls to the U.S. workforce in September, up from 176,000 in August.
- The ECB announces its monthly monetary policy decision at 7:45 AM, followed by a press conference and Q&A with ECB president Mario Draghi at 8:30. Economists expect the central bank to leave the benchmark refinancing rate unchanged at 0.50%, but there is also an expectation that Draghi will attempt to communicate dovish signals at the press conference. "The ECB is now faced with a EURUSD showing signs of trending higher and a Fed set to increase this by printing more money to compensate for the government shutdown," says Société Générale currency strategist Sebastien Galy. "The odds are it will leave the ECB pushing back against the Fed."
- Wrangling over the government shutdown now seems to be turning into the fight over raising the debt ceiling. Treasury Secretary Jack Lew warned last night that the Treasury was close to exhausting its "extraordinary measures" of emergency funding and that the department would hit the debt ceiling October 17. "It will all get solved at one time,” said Republican senator Tom Coburn, referring to the shutdown and the debt ceiling.
- Australia's trade balance shrank to AUD $815 million in August from $1.375 billion in July, thanks to a surge in iron ore exports. However, economists predicted a bigger drop in the deficit to $400 million. Online shopping was said to weigh on the deficit.
- It appears that Italian prime minister should easily survive a confidence vote following press reports that nearly all of Silvio Berlusconi's PDL party will support Letta. Italian stocks and bonds are gaining on the news, which comes after Berlusconi tried to orchestrate a collapse of Letta's fragile coalition government over the weekend by announcing that PDL ministers in Letta's cabinet would resign.
- Weekly mortgage applications data are due out from the Mortgage Bankers Association at 7 AM. Mortgage applications have been making a comeback since interest rates stopped surging. Last week, they rose 5.5%.
- Boston Fed President Eric Rosengren kicks off today's round of Fedspeak at 12 PM with a speech on the economy in Vermont at an event sponsored by the New England Federal Credit Union and Lake Champlain Regional Chamber.
- At 3:20 PM, St. Louis Fed President James Bullard will deliver opening remarks at a St. Louis Fed conference on community banking.
- Shortly thereafter, at 3:30 PM, Federal Reserve Chairman Ben Bernanke speaks at the same conference at the St. Louis Fed on community banking.
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Good morning. Here's what you need to know.
- Markets in Asia were mostly higher in overnight trading. The Japanese Nikkei 225 advanced 1.3%, the Hong Kong Hang Seng was 1.4% higher, and the Shanghai Composite rose 0.2%. European markets are rallying across the board, led by the Spanish IBEX 35, currently up 0.6%. In the United States, futures point to a positive open.
- The Philippine National Red Cross said the death toll from the monster typhoon that hit the country last week could run into the thousands. The Philippines Stock Exchange PSEi Index closed down 1.4% Monday.
- New Chinese yuan loans were ¥506.1 billion in October, down from ¥787.o billion in September and below forecasts for ¥580.0 billion. China's M1 money supply rose 8.9% from the previous year in October, unchanged from September's 8.9% year-over-year rate but below expectations for a rise to 9.2%.
- Japan's trade deficit fell to ¥874.8 billion in September from ¥885.9 billion in August. Economists predicted a larger drop in the deficit to ¥853.9 billion. Meanwhile, Japan's adjusted current account surplus of ¥351.8 billion in August swung to a deficit of ¥125.2 billion in September, larger than the ¥97.0 billion deficit predicted by economists.
- According to the FT, there is a growing rift on the ECB governing council, with members of the German Bundesbank driving the opposition. "People involved in the policy debates said divisions between northern and southern representatives on the ECB board have been mounting since market pressures on the eurozone relaxed, with council members freed up to revert to national interests," report the FT's Peter Spiegel and Stefan Wagstyl.
- The latest rage in the hedge fund world is launching funds that don't hedge. Long-only funds have come into vogue, according to the Wall Street Journal. "On the heels of a multiyear market rally, a slew of hedge-fund firms are launching 'long-only' funds betting that at least some stocks have further to climb," reports WSJ's Juliet Chung. "The moves come amid a brutal stretch for short bets against companies, traditionally a key strategy for hedge funds."
- JPMorgan and Credit Suisse are considering blocking traders from accessing chat rooms on the Bloomberg terminal and other devices, reports the Wall Street Journal. The discussions come as a response to recent rate-rigging probes that have thrust use of the chat rooms into the spotlight.
- At least 100 Bangladeshi factories were closed Monday as garment workers protested for higher pay. The protests turned violent as workers clashed with police and attacked factories.
- Chinese shoppers celebrated "Singles' Day" in China Monday (a sort of anti-Valentine's Day) by blowing out last year's sales numbers. "The applause roared as revenues topped 10 billion yuan at 6 a.m., when more than 100 million consumers had placed orders via the online portal," said a Xinhua report. "On the same day last year, it took 13 hours for the company's sales to top the 10-billion RMB benchmark."
- There are no notable economic data releases in the United States before Thursday's release of weekly jobless claims figures. Also on Thursday, Federal Reserve Vice Chair Janet Yellen will begin her confirmation hearing before the Senate Banking Committee. Until then, it may be a fairly quiet week.
The best traders are invariably very good money managers. Many traders are at a loss what skills that money management requires and how to actualize all our dreams of becoming one of these best traders.
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Admin of Indonesian Forum
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If you are a constant loser in the forex market and you are tired of losing to the market then get mad at loss , because it is when you are mad at loss that you will learn how to do things right . most of the time we lose to the market and we take it lightly and that is the reason we keep reapearing the same old mistakes all the time.Failure is not something that we must look with ordinary eyes, we must make up our mind to make sure that we are really tired of it .
well then sir, nobody like to call himself as a constant loser since nobody wants to stay losing for long time. people are striving every day looking for the best solution for his problem and keep looking for something that can make him better. the only person can be called as a loser when he do this business, failed, then quit instead of keep learning and striving. no matter how many times we lose, as long as we believe we can success in this business, then carry on If you are a constant loser in the forex market and you are tired of losing to the market then get mad at loss , because it is when you are mad at loss that you will learn how to do things right . most of the time we lose to the market and we take it lightly and that is the reason we keep reapearing the same old mistakes all the time.Failure is not something that we must look with ordinary eyes, we must make up our mind to make sure that we are really tired of it .
well then sir, nobody like to call himself as a constant loser since nobody wants to stay losing for long time. people are striving every day looking for the best solution for his problem and keep looking for something that can make him better. the only person can be called as a loser when he do this business, failed, then quit instead of keep learning and striving. no matter how many times we lose, as long as we believe we can success in this business, then carry on.
FREE GBP USD SIGNALS and technical analysis
Published: Saturday, 25 November 2017 14:03
Today we offer technical analysis for the GBPUSD and the currency trading signals
The GBPUSD started trading higher in October and this rise has been from two major waves so far
First wave The pair rose from 1.3030 to 1.3330
And the second wave was from 1.3040 until the pair reached 1.3360
The sterling pair is therefore a measured movement pattern
AB = CD According to this technical pattern, the GBPUSD is expected to fall near the 1.3260 level
Boosts bearish Technical Outlook for the GBPUSD The pair is trading
near the 1.3335 medium term resistance level
But if the price breached the resistance level and stay above 1.3335 then this is the case
We are seeing a possible reversal price pattern- the so-called double bottom pattern
Which is expected to push the GBPUSD higher near 1.3580
Trading Strategy, GBP usd and Technical Summary today
The GBP pair is preferred to sell on the global foreign exchange market
For this reasons , Gold pattern offers live selling trading signals at the market price instant
sell @ 1.3335
tp1 @ 1.3265
tp2 @ 1.3215
sl @ 1.3375