The Forex Institute

The Forex Institute What Is The Club About? The Forex Institution is a club focused on people who are interested in trading forex markets. Learning and application of strategy
(1)

10/14/2015

In European Equity Markets stocks were little changed on Wednesday with gains capped by new concerns about deflationary pressures in China, while technology group ASML and builder Skanska slid after weak business updates. The pan-European FTSEurofirst 300 index fell 0.13 percent while the euro zone's blue-chip Euro STOXX 50 index declined by 0.06 percent. However, British financial company Hargreaves Lansdown rose 3.8 percent, the third best performer on the pan-European STOXX 600 index. ASML, a supplier to top global semiconductor makers, fell 4.5 percent after its third-quarter earnings came in slightly below analysts' expectations, and with fewer than expected new bookings.



In Currency Markets the US dollar fell to a 3-1/2-week low against a basket of currencies on Wednesday as more signs of slowing growth in the United States and China raised doubts the U.S. FED will raise interest rates later this year. Data on the world's two biggest economies hinted at disinflationary pressure due to flagging domestic demand with U.S. retail sales barely growing in September. The dollar index was last down 0.4 percent at 94.380. It hit a 3-1/2-week low of 94.224 after the U.S. government said retail sales rose by a tiny 0.1 percent and producer prices fell by 1.1 percent. Against the yen, the dollar fell 0.3 percent to 119.375 yen . The euro reached a 3-1/2-week high against the greenback. It was last up 0.4 percent at $1.1429.



In Commodities Markets oil prices fell again on Wednesday as concerns of a growing global supply glut negated optimism in recent weeks about declining U.S. production. Crude futures have lost 7 percent so far this week, sliding without stop since Monday after OPEC reportedly pumped 110,000 barrels per day more in September than in August, and nearly 2 million bpd above forecast demand for 2015. Brent, the global benchmark for crude, was down 23 cents, or 0.5 percent, at $49.01 a barrel by 11:30 a.m. EDT. U.S. crude slipped 37 cents, or 0.8 percent, to $46.29. OPEC trimmed its estimate of 2016 world oil demand growth by 40,000 bpd to 1.25 million bpd, citing slower growth in China.



In US Equity Markets stocks retreated on Wednesday as investors absorbed mixed earnings from major banks and Wal-Mart's weak forecast wiped more than $20 billion off the retailer's market value. Six of the 10 major S&P sectors fell. The S&P 500 was down 9.18 points, or 0.46 percent, at 1,994.51 and the Nasdaq Composite was down 20.28 points, or 0.42 percent, at 4,776.33. Wells Fargo fell 1.7 percent to $50.98 after reporting results. Bank of America rose 1.5 percent to $15.75 after the bank reported a profit, compared with a year-earlier loss. Wal-Mart sank 8.6 percent to $60.99, on track for its worst one-day performance in more than 17 years, after the retailer said the strong dollar was likely to take $15 billion out of its full-year revenue.



In Bond Markets U.S. Treasury yields hit their lowest levels in over a week on Wednesday after weaker-than-expected U.S. retail sales and producer prices data supported views the Federal Reserve would delay a rate hike until 2016. The Commerce Department said retail sales edged up 0.1 percent last month, below expectations for a 0.2 percent rise according to a Reuters poll of economists. Other data showed producer prices in September posted their biggest decline in eight months, suggested disinflation was reemerging. U.S. 30- and 10-year yields hit their lowest levels since Oct. 5 of 2.8510 percent and 1.9999 percent, respectively.







US Equity Pre-Market Upgrades

ADOBE (ADBE) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT ATLANTIC EQUITIES
AMERSECO (AMRC) UPGRADED TO OUTPERFORM FROM PERFORM AT OPPENHEIMER
ANALOG DEVICES (ADI) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT BMO CAPITAL
CF INDUSTRIES (CF) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT COWEN
DIPLOMAT PHARMACY (DPLO) UPGRADED TO NEUTRAL FROM UNDERPERFORM AT BOFA/MERRILL
DYAX (DYAX) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT LEERINK
ENCANA (ECA) UPGRADED TO BUY FROM HOLD AT DEUTSCHE BANK
HEARTWARE (HTWR) UPGRADED TO NEUTRAL FROM SELL AT GOLDMAN
INTEL (INTC) UPGRADED TO BUY FROM HOLD AT SUMMIT RESEARCH
INTREPID POTASH (IPI) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT COWEN
ROYAL DUTCH SHELL (RDS.A) UPGRADED TO BUY FROM HOLD AT ARGUS
SAP (SAP) UPGRADED TO BUY FROM HOLD AT HSBC
SKY (SKYAY) UPGRADED TO OUTPERFORM FROM UNDERPERFORM AT CREDIT SUISSE
TAUBMAN CENTERS (TCO) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT COWEN
VF CORP. (VFC) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT PIPER JAFFRAY
VIVENDI (VIVHY) UPGRADED TO CONVICTION BUY FROM BUY AT GOLDMAN




US Equity Pre-Market Downgrades

BROWN & BROWN (BRO) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WELLS FARGO
CEPHEID (CPHD) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES
DISCOVERY (DISCA) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT MACQUARIE
GOPRO (GPRO) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT PIPER JAFFRAY
ITV PLC (ITVPF) DOWNGRADED TO BUY FROM CONVICTION BUY AT GOLDMAN
K+S (KPLUF) DOWNGRADED TO SELL FROM NEUTRAL AT UBS
KEY ENERGY (KEG) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT BAIRD
LEGACY RESERVES (LGCY) DOWNGRADED TO HOLD FROM BUY AT WUNDERLICH
LINDE (LNEGY) DOWNGRADED TO SELL FROM NEUTRAL AT UBS
METALDYNE PERFORMANCE (MPG) DOWNGRADED TO NEUTRAL FROM BUY AT GOLDMAN
ORACLE (ORCL) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT JMP SECURITIES
ORACLE (ORCL) DOWNGRADED TO UNDERPERFORM FROM MARKET PERFORM AT JMP SECURITIES
RLJ LODGING TRUST (RLJ) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WELLS FARGO
RYMAN HOSPITALITY (RHP) DOWNGRADED TO UNDERPERFORM FROM MARKET PERFORM AT WELLS FARGO
SAFE BULKERS (SB) DOWNGRADED TO SELL FROM HOLD AT EVERCORE ISI
SOLVAY (SVYZY) DOWNGRADED TO SELL FROM NEUTRAL AT UBS
STILLWATER MINING (SWC) DOWNGRADED TO SECTOR PERFORMER FROM OUTPERFORMER AT CIBC
TWITTER (TWTR) DOWNGRADED TO MARKET PERFORM ON LIMITED VISIBILITY AT JMP SECURITIES
UNDER ARMOUR (UA) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT PIPER JAFFRAY
WHITING PETROLEUM (WLL) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK




US Equity Pre-Market Initiations

8POINT3 ENERGY (CAFD) INITIATED WITH AN OUTPERFORM AT OPPENHEIMER
AMERICAN EQUITY (AEL) INITIATED WITH A BUY AT CITI
ARTHUR J. GALLAGHER (AJG) INITIATED WITH AN OUTPERFORM AT WELLS FARGO
AXALTA COATING (AXTA) INITIATED WITH AN OUTPERFORM AT RBC CAPITAL
DIPEXIUM PHARMACEUTICALS (DPRX) INITIATED WITH A STRONG BUY AT RAYMOND JAMES
EASTMAN CHEMICAL (EMN) INITIATED WITH AN OUTPERFORM AT RBC CAPITAL
HAIN CELESTIAL (HAIN) INITIATED WITH AN OUTPERFORM AT COWEN
HANNON ARMSTRONG (HASI) INITIATED WITH AN OUTPERFORM AT OPPENHEIMER
JAZZ PHARMACEUTICALS (JAZZ) INITIATED WITH AN OUTPERFORM AT NORTHLAND
MALLINCKRODT (MNK) INITIATED WITH AN OUTPERFORM AT NORTHLAND
MCGRAW HILL FINANCIAL (MHFI) INITIATED WITH AN OVERWEIGHT AT ATLANTIC EQUITIES
MICROSEMI (MSCC) INITIATED WITH A BUY AT MIZUHO
PRIMA BIOMED (PBMD) INITIATED WITH A BUY AT H.C. WAINWRIGHT
SHIRE (SHPG) INITIATED WITH AN OUTPERFORM AT NORTHLAND
VIVENDI (VIVHY) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
WILLIS GROUP (WSH) INITIATED WITH AN UNDERPERFORM AT WELLS FARGO
WPX ENERGY (WPX) RE­INITIATED WITH AN OUTPERFORM AT IMPERIAL CAPITAL




US Equity Pre-Market Earnings

Bank of America (BAC) - Q3 Adj. EPS USD 0.35 vs. Exp. USD 0.33 and Q3 Adj. sales USD 20.6bln vs. Exp. USD 20.5bln. Q3 net interest margin 2.1% vs. Exp. 2.2%. Q3 fixed income, currencies, commodities and trading sales Y/Y (excluding net DVA) ­11.0%.
BlackRock (BLK) - Q3 adj. EPS USD 5.00 vs. Exp. USD 4.53 and Q3 revenue USD 2.91bln vs. Exp. USD 2.77bln. Co. report Q3 assets under management USD 4.51trl as well as Q3 operating margin 42.0% vs. Prev. 42.6%. CSX Corp (CSX) - Q3 EPS USD 0.52 vs. Exp. USD 0.50 and Q3 revenue USD 2.94bln vs. Exp. USD 2.97bln. Co. reaffirms their FY'15 EPS outlook.
Delta Air Lines (DAL) - Q3 Adj. EPS USD 1.74 vs. Exp. USD 1.72 and Q3 operating revenue USD 11.1bln vs. Exp. USD 11.1bln. Co. forecasts Q4 unit revenue down 2.5­4.5% but EPS to grow over 40%.
Intel (INTC) - Q3 EPS USD 0.64 vs. Exp. USD 0.59 and Q3 revenue USD 14.5bln vs. Exp. USD 14.2bln. Co. Q3 gross margin 63% vs. Exp. 63%. Co. forecasts Q4 revenue of approximately USD 14.8bln vs. Exp. USD 14.81bln. Co. forecasts FY capital spending of approximately USD 7.3bln.
JPMorgan Chase (JPM) - Q3 Adj. EPS USD 1.32 vs. Exp. USD 1.38 and Q3 revenue USD 23.50bln vs. Exp. USD 24.04bln. Co. report Q3 fixed income markets revenue USD 2.93bln vs. Exp. USD 2.9bln, Q3 equity markets revenue USD 1.40bln vs. Exp. USD 1.39bln, Q3 investment banking revenue USD 1.53bln vs. Exp. USD 1.41bln. They also state their Q3 report is inclusive of USD 1bln in legal fees.
PNC Financial (PNC) - Q3 EPS USD 1.90 vs Exp. USD 1.78 (May not compare) and Q3 sales USD 3.78bln vs. Exp. USD 3.8bln. Q3 net interest margin 2.67% vs. Exp. 2.68%. Q3 non­interest income USD 1.7bln. Co. forecasts "modest growth" to their Q4 loans net interest income and fee income. They also forecast USD 50­100mln in loan loss provisions.

10/12/2015

In European Equity Markets stocks ended marginally lower on Monday after reaching one-month highs in a rally last week, with civil aerospace stocks leading the fallers and German utilities soaring after concerns over nuclear costs eased. The pan-European FTSEurofirst 300 index fell 0.17 percent and the euro zone's blue-chip Euro STOXX 50 index was 0.09 percent lower. E.ON and RWE rose as much as 12 and 15 percent respectively in their biggest one-day bounce in seven years after the German government concluded that they had set aside enough money to decommission their nuclear plants. Several brokerages including Deutsche Bank, Credit Suisse, Equinet, Societe Generale and DZ Bank upgraded either their ratings or target prices on Germany's utilities as a result.



In Currency Markets the dollar slipped to a three-week low versus a basket of major currencies on Monday on doubts whether the Federal Reserve would raise interest rates later this year in the face of a weakening global economy. The Federal Open Market Committee, the Fed's policy-setting group, will meet on Oct. 27-28. On Monday, Atlanta Federal Reserve President Dennis Lockhart suggested the central bank will have a "lot more" data to decide on the first U.S. rate increase since 2006 in December than later this month. The greenback was down 0.2 percent against the yen at 119.97 yen, while the euro was up 0.2 percent versus the dollar at $1.1378, hitting a three-week high of $1.1396.



In Commodities Markets oil prices tumbled on Monday, as traders took profits after last week's surge to an 11-week high, and on a report that OPEC continued to boost crude production despite a persistent glut. Benchmark Brent crude LCOc1 was down $1.05 or, almost 2 percent at $51.60 by 11:30 am EDT after reaching a session high of $53.31. U.S. light crude was down $1.22 or, about 2.5 percent, at $48.41. On Friday, WTI settled at an 11-week high. U.S. light crude was down $1.22 or, about 2.5 percent, at $48.41. On Friday, WTI settled at an 11-week high. OPEC forecast that demand for its oil in 2016 would be much higher than previously thought as its strategy of letting prices fall hits U.S. shale oil supplies.



In US Equity Markets stocks were little changed in muted trading on Monday as investors paused before a busy week of quarterly results from U.S. banks and several Dow 30 companies. Gains were limited by a drop in energy stocks as oil prices fell. The energy sector was the biggest decliner among the major S&P sectors. Along with the banks, several Dow 30 components are scheduled to report results this week, including Johnson & Johnson, Intel and General Electric. The S&P 500 was down 1.11 points, or 0.06 percent, at 2,013.78 and the Nasdaq composite index was up 0.64 points, or 0.01 percent, at 4,831.11. Six of the 10 major S&P sectors were in the black. Chevron was the biggest drag on the Dow with a 2 percent decline.



In Bond Markets German government bonds advanced amid speculation data this week will highlight weakness in the euro region's economic recovery, supporting demand for safer assets. Germany's 10-year bund yield fell four basis points, or 0.04 percentage point, to 0.58 percent at 4:30 p.m. London time, having climbed 11 basis points last week. Spain's 10-year bond yield dropped two basis points to 1.82 percent Monday and that on similar-maturity Italian debt declined two basis points to 1.68 percent.

07/15/2015

In Asian Equity Markets Japan's Nikkei share average rose to a 1-1/2-week high on Wednesday as investors were relieved that the worst may be over for the debt crisis in Greece, with stronger-than-expected Chinese economic data giving an additional boost. The Nikkei gained 0.4 percent to 20,463.33, the highest closing level since July 3. The CSI300 index fell 4.5 percent to 3,926.54 points, set for its biggest daily fall since July 8, when it closed down nearly 7 percent, while the Shanghai Composite Index lost 4.1 percent to 3,764.18 points. China's second quarter gross domestic product grew an annual 7.0 percent, steady with the previous quarter and slightly better than analyst forecasts.



In Currency Markets the US dollar steadied against the euro and yen on Wednesday as it awaited fresh cues from a U.S. Congressional appearance by Federal Reserve Chair Janet Yellen later in the session. Yellen provided dollar bulls with food for thought Friday by saying she expected a rate hike at some point this year, and investors will have a chance to hear her latest thinking at the semi-annual testimony. The euro, which has lost 1.5 percent this week, was little changed at $1.1001. The dollar was steady at 123.43 yen, hovering close to a two-week high of 123.74 scaled overnight. The Australian dollar, often used as a liquid proxy for China plays, was up a modest 0.2 percent at $0.7467.



In Commodities Markets oil prices rose on Wednesday as investors recognised it would take time for Iran to ramp up oil exports after its nuclear deal with six world powers, although an ongoing global crude glut kept a lid on gains. Under the nuclear deal reached on Tuesday, sanctions imposed by the United States, the European Union and the United Nations are to be lifted in exchange for curbs on Iran's nuclear programme. While oil prices initially fell on the news, they recovered later as it became apparent the deal would not immediately lead to a flood of new supply. Brent crude was up 27 cents at $58.78 a barrel. U.S. futures were up 18 cents at $53.22. Iran, a member of the OPEC has some of the world's biggest oil reserves.



In US Equity Markets stocks gained for a fourth straight session on Tuesday, its longest winning streak since January, buoyed by the energy sector as oil prices rebounded from early declines. The S&P energy sector advanced 0.8 percent, led by a 0.8 percent gain in Exxon Mobil Corp to $83.11. Gains were broad, with nine of the 10 major S&P 500 sectors ending higher, led by a 1 percent gain in the healthcare index . The Nasdaq biotech index jumped more than 2 percent to hit a record high for the second time in three weeks. The S&P 500 gained 9.35 points, or 0.45 percent, to 2,108.95 and the Nasdaq Composite added 33.38 points, or 0.66 percent, to 5,104.89.



In Bond Markets Japanese government bond prices treaded water on Wednesday as the market awaited fresh cues from a U.S. Congressional appearance by Federal Reserve Chair Janet Yellen later in the session. Yellen said on Friday she expected a rate hike at some point this year, and investors will have a chance to hear her latest thinking at the semi-annual testimony which could have implications on debt markets. The benchmark 10-year yield was unchanged at 0.455 percent. The JGB market showed little reaction to the well-anticipated decision by the Bank of Japan to stand pat on monetary policy.

07/09/2015

In European Equity Markets shares rose on Thursday, supported by miners after a rally in metals and Chinese stocks, while some investors were betting Greece's creditors will look positively at reform proposals and finally agree a debt deal. The euro zone's Euro STOXX 50 index rose 3.1 percent, while the pan-European FTSEurofirst 300 index was up 2.5 percent. Germany's DAX advanced 2.6 percent, Spain's IBEX gained 2.6 percent and Italy's FTSE MIB climbed 3.8 percent. The STOXX Europe 600 Basic Resources index gained 2.1 percent as prices of major industrial metals rose on signs of stabilisation in share markets in China, the world's biggest metals consumer.



In Currency Markets the safe-haven yen and Swiss franc fell on Thursday after Chinese stocks rebounded and worries about Greece eased somewhat as Europe awaited reform proposals from the debt-burdened country to back its request for another three-year loan. In midmorning New York trading, the dollar was up 0.5 percent against the yen at 121.31. The greenback also rose against the Swiss franc, up 0.2 percent at 0.9470 franc. The euro, meanwhile, was down 0.1 percent against the dollar at $1.1062 having topped $1.11 in Asian trade. With the exception of a dip at the start of this week, the euro has held up well in the face of Greece's troubles. The dollar index was flat at 96.279.



In Commodities Markets crude oil futures jumped 3 percent on Thursday, rebounding forcefully from the three-month lows of this week, as China's stock market steadied from its collapse and uncertainties remained about a nuclear deal that will allow Iran to export more crude. Bets of strong gasoline demand through the U.S. summer driving season also fueled the crude rally. Futures of gasoline and ultra-low sulfur diesel rose more than 1 percent. Brent crude futures were up $1.80, or 3.2 percent, at $58.85 a barrel, rising more than $2 at the session high. U.S. crude futures rose $1.25 to $52.90, rebounding from this week's three-month low of $50.58.



In US Equity Markets stocks were sharply higher at the open on Thursday as trading returned to normal at the New York Stock Exchange, a day after the exchange suspended operations for almost four hours due to a technical glitch. All 10 major S&P 500 sectors rose as Beijing's efforts to halt a rout in Chinese stocks finally bore fruit and the U.S. Federal Reserve's June meeting minutes indicated that a rate hike might be pushed back. The S&P 500 was up 27.54 points, or 1.35 percent, at 2,074.22 and the Nasdaq Composite was up 70.30 points, or 1.43 percent, at 4,980.06. Walgreens Boots Alliance was up 3.4 percent at $88.93 after the largest U.S. drug store chain raised its full-year profit forecast.



In Bond Markets U.S. Treasury debt prices fell on Thursday as China's beaten-down stock markets rose after recent huge falls and Wall Street bounced back from sharp losses. Yields on long-term Treasuries backed away from five-week lows reached this week on worries about the Greek debt crisis and a rout in Chinese equities, which undermined investors' confidence about global economic growth. Yields on the 30-year bond were knocked under 3 percent on Wednesday but were last at 3.0528 percent, reflecting a price drop of 1-11/32. The 10-year note was down 18/32 in price and yielding 2.2708 percent.

Address

12345 El Monte Rd
Los Altos, CA
94022

Telephone

(650) 430-6128

Alerts

Be the first to know and let us send you an email when The Forex Institute posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Nearby universities