User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday September 22, 2008 - 16:36:58 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:33am

US Market Update

Dow -193 S&P -25 NASDAQ -44

- Market players around the world are grappling with a radically altered Wall Street landscape this morning. In its latest attempt to calm markets, the Fed allowed Goldman Sachs and Morgan Stanley to become bank holding companies on Sunday night, implicitly abandoning the traditional investment banking business model. Markets are predictably unsettled, with the all three of the major indices off more than 1.5% in early trading. "This decision marks the end of Wall Street as we know it" has been the recurring quote, as multiple commentators weigh in on this significant change. The move places the firms under the direct regulation of the Fed, paves the way for them to rely more heavily on deposits and likely means leverage levels will fall substantially. Morgan Stanley CEO John Mack says the new structure will leave MS in the strongest possible position, and "...offers the marketplace certainty about the strength of our financial position and our access to funding." Deal news is also moving Morgan Stanley's stock this morning: before the open, reports circulated that Mitsubishi UFJ would buy a stake that would eventually reach 20% in the firm. The price has not been settled as of yet, but will be based on MS's book value as agreed upon following ongoing due diligence. Mitsubishi UFJ says it intends to invest up to JPY900B. In addition, the FT reported that MS's talks with WB-9% may be scrapped this week, although the firm is continuing discussions with China Investment Corporation. MS is up 10% in early trading, while GS is down 4%. The rest of the leading financials are under pressure, down 5-10%. WM-20% has returned to the downside after recent strength over uncertainty regarding plans to sell the company; this morning CNBC reported WM may wait until after the details of the government bailout become clear to make any decision on a sale, while the WSJ reported several scenarios overnight. AIG is up nearly 30%; CEO Liddy told CNBC this morning that he plans to publish a list of assets to be sold in seven to ten days. LM-18% is under serious pressure after the New York Post reported the firm is mulling going private; the company denied the reports after the open.

- The deeper ramifications of the short selling ban are surfacing this morning as firm after firm announces plans to undertake large stock buybacks now that there is a much-diminished threat from the shorts. HPQ has authorized an $8B share buyback (6.7% of market cap), NKE has ok'ed a $5B share repurchase program (20% of market cap), SYY is buying back 20M shares (3.3% of shares outstanding) while MSFT has authorized a whopping $40B buyback (17% of market cap) and boosted its dividend by 18%. SJI, RFIL, CVA and PCTI have also announced share buybacks this morning. In addition, S&P assigned an industrials AAA rating with a stable outlook to MSFT+4%. In other news, used-car outfit KMX-3% is under pressure after missing EPS and revenue targets this morning and reporting that same-store sales declined 17% for the quarter y/y. AZO is up modestly after reporting in-line with estimates. MAR-3% after a bomb leveled one of its hotels in Pakistan over the weekend.

- Commodities continue to exhibit some relative strength on Greenback weakness and continued demand for physical assets. WTI crude is trading around $108 while Dec gold has moved back above $900. Front-month silver and platinum have gained more than 7% while copper is trading at $3.25. Grains are trading up 3-4% across the board led by wheat while the CRB has added roughly 2%.

- In currencies, the carry-related pairs moved higher as dealers watched risk aversion ease off thanks to the government's bailout of US financial sector. Asian currencies JPY and CHF were a touch softer as numerous US equity names launched share buyback throughout the morning. The level of financial market stress remains elevated however, as shown by today's Libor fixings. The three-month USD Libor came in at 3.20% compared to Friday's level of 3.21%. Overall the greenback remains softer among the major pairs thanks to concerns over the gigantic price tag of the bailout and its implications for the government's debt ceiling. USD weakness is helping commodities move higher.

- The ECB's Nowotny reiterated his view that central bank has no bias on interest rates, adding that while inflation may be declining it remains above target following August. In addition, he said Europe will likely suffer from lower growth in 2009 given that global markets are going through a period of extreme volatility. The ECB's Trichet reiterated his familiar hawkish concerns over inflation, again repeating that price stability remained his top priority. Trichet promised that the ECB will remain on alert to sooth volatility in credit markets.

- Treasury prices have been under pressure from the onset of floor trading. In late morning trade the yield curve is actually a bit flatter reversing the overnight trend. The 2-year yield is back above 2.20% and athe 10-year is nearing 3.90%. Dec Gilts -85 ticks at 110.08; Dec Bunds -68 ticks at 113.05. Euro Stoxx 50 index -0.6% at 3,234; FTSE 100 Index -1.25%; CAC 40 Index -1.2% and DAX Index -2%.


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

Forex Research

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 here.

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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 14:00 US- Prelim University of Michigan
John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

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.

Request a TRIAL of Max's Forex Service.


Retail Forex Brokerage Changing!

Are you 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.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map

Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

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.

Forex News

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

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

Forex Brokers

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 Trading

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.

FX Trading

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.

Forex Blog 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105