Forex News Blog
Back to The Headlines
Share This Story
U.S. Market Update Dow +34 S&P +4.3 NASDAQ +12.9
- Ahead of the NY open equity
futures relinquished overnight gains on the back of a weak SSS outlook from
Target -7% and more downgrades in the financials. GS traded down as much
as $4 in the pre-market, but it rallied along with other financials right
from the open suggesting the recent sentiment change in the group is
holding. Mortgage and homebuilding names are higher ahead of this
afternoon's scheduled announcement from President Bush on a formal plan to
freeze certain mortgage rates. Oil service names are seeing some gains
after DO +3% was upgraded ahead of the open. Energy futures are in
positive territory led by front month natural gas, which has added 3% after
weekly inventory data. Relative weakness can be found in some of the big
pharma names after a WSJ article highlighted the difficulty many of these
companies are having replenishing their pipelines. PPH -0.4%. Treasury
prices are ticking lower pushing the 10-year yield back up to 3.97% ahead
of tomorrow's jobs data. Feb gold rallied more than $15 from this
morning's low when the Euro rebounded on some comments from the ECB's
Trichet that followed their decision to leave rates unchanged.
European interest rate decisions were the main catalyst regarding currency
trade today. The BOE unexpectedly lowered their rates by 25bp to 5.50%.
The ECB maintained their rates at 4.00%, as expected. The statements
following the rate decision for both the BOE and ECB sent the USD lower as
the European central banks echoed continued concern on inflationary
expectations. GBP covered from sessions lows following the 'hawkish'
statement. GBP/USD tested the 2.0170 19th month uptrend line before
retesting the 2.03 handle. March Gilts futures were briefly positive on
the news of the BOE rate cut, but fell over 70 ticks on the hawkish
inflation comments. The EUR/USD was trading at 1.4550 ahead of the ECB
rate decision and languished in the vicinity until the post-rate decision
press conference. During Q&A session, ECB's Trichet noted that the current
Inflation 'hump' would likely remain elevated for a longer period of time
than previously thought. Lastly, Trichet murmured that some members
actually sought a rate hike at today's meeting; but the 4.00% interest rate
level was decided as the rate necessary to ensure price stability at this
time. These hawkish statements sent Euro back above the 1.4630 level and
March Bund futures lower by 37 ticks to 115.21. The BGA Exporters assoc
stated that the Euro may exceed the 1.50 level in 2008 and that the concept
of a strong euro will not be short lived. The JPY was softer during the
session but remained contained in recent trading range ahead of the Q3
final GDP data for Japan. US Commercial Paper Outstanding at $1.844T v $1.
854T prior week, down $10B w/w - Fed DAX -0.1% at 7938; CAC40 higher by 0.
1% at 5663, FTSE off 0.2% at 6482
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
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:
Register To Test Your Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 20 October 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales
Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.
- POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing statistic.
co-founding Partner, Global-View.com
EXCLUSIVE: Global-View Daily Trading Chart Points Updated
EXCLUSIVE: Global-View Free Forex Database updated
TRADER ADVOCACY ARTICLES
Trader's Advocate Articles..