User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday November 25, 2008 - 17:24:20 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:48am

US Market Update

Dow +22 S&P +2.4 NASDAQ -8

- US indices opened higher for the third day in a row after the Fed announced yet another massive plan to support the financial industry, this time focusing on the consumer. But regardless the Nasdaq, DJIA and S&P500 all traded into the red before 11 am. More negative housing data and an unexpectedly weak Richmond Fed reading helped drag down indices, with the S&P/Case Shiller Composite index showing home prices falling 17.4% over the year ago figure. Adding to the negative sentiment the FDIC stated that its "troubled bank list" grew to 171 institutions in Q3, versus 117 in Q2, complemented by an S&P report that noted credit troubles are still hindering US banks. Treasury yields have moved lower as the newest funding facility will result in the government stepping in and buying GSE and MBS debt. Buyers have been particularly aggressive at the longer end of the curve. Front-month crude is headed back towards $50, down more than $3 despite French President Sarkozy's pledge to announce a massive stimulus package and Russia's acknowledgment that they intend to cooperate with OPEC going forward.

- The Fed's latest stimulus program, christened the Term Asset-Backed Securities Loan Facility (TALF), is designed to pump resources into consumer credit market, especially the still-frozen mortgage market. The total $800B in funding is broken into three main components: it will buy up to $500B in mortgage-backed securities via asset managers, puchase $100B in Freddie and Fannie obligations through a series of competitive auctions and offer $200B in direct loans for small businesses. In addition, the Treasury is allocating $20B from remaining $40B left in first tranche of the TARP program to consumer lending. The purchases of both GSE obligations and MBS are expected to take place over several quarters, with the TALF program authorized through Dec 31, 2009.

- In a press conference this morning, Treasury Secretary Paulson noted that the $200B allocated under TARP for buying up ABS is only a starting point, implying that a bigger purchase may yet arise. He also warned that no decision has been made on an extending the TARP to insurance companies, although he did point out that insurers with bank holding status are applying for the program. The Hartford was up as much as 20% and Prudential shot up 10% just after the event, before trading off mid morning. Goldman, Morgan Stanley, Citi and JP Morgan were up as much as 8-12% in early trading, before losing considerable ground mid morning.

- BHP, the world's largest mining company, abandoned its year-long pursuit of Rio Tinto this morning, blaming the rout in commodities prices and the credit-market squeeze for derailing the biggest hostile takeover. The CEO said the combination of $40B in new debt and regulatory hurdles made the $66B bid too risky at a time when the slowing world economy reduced demand for raw materials. RTP is down about 30% while BHP is up just shy of 20% on the day. Google is up more than 8% after Barclays and Merrill were out defending the name, noting the sell-off of the last several weeks has been overdone. In a rare move for the company, Google announced last night that it would cut 10K contract workers, including temporary hires and outside service providers.

- Earnings for the morning are reminding investors of the challenges faced by the economy. Homebuilder DR Horton surprised investors with yet another larger-than-expected loss, while revenue also fell short of analysts' expectations. The outlook for the firm is only growing grimmer, with quarterly metrics seeming to indicated no bottom in sight for the firm's or the nation's housing problems, with the order cancellation rate climbing and new sales orders falling q/q. High-end retailer Talbots continues to suffer from the slowdown, announcing a consecutive losses and same-store sales that declined more than 13% in the quarter, and withdrawing guidance for 2008. Jewelry giant Zale Corp also reported a bigger loss than expected and missed revenue targets, noting that it does not believe its previous earnings guidance should be relied upon. IT equipment and services provider Tech Data missed on both the top and bottom lines. And while American Eagle Outfitters reported solid earnings for the quarter, it noted that gross margins fell dramatically in the quarter and sales in the first two weeks of November were already down 17%. But economic slowdown is also seeing some winners: Spam manufacturer Hormel came in a bit ahead of estimates and raised its dividend slightly, while discounter Dollar Tree beat earnings estimates and raised its guidance for the year.

- The greenback was broadly softer throughout the New York morning thanks to the latest round of economic stimulation measures in the US as well as a new French package. French President Sarkozy said he would announce a “massive stimulus plan” within a couple of days. Downside USD momentum also came from the US personal consumption data, which came in below expectations for Q3, with EUR/USD hitting three-week highs of 1.3080 in the aftermath of the report. European central bankers are offering a lot of commentary on monetary policy, with the ECB's Bini Smaghi warning that sharp rate cuts could "contribute, rather than obviate, worsening market sentiment” and the ECB's Nowotny said it makes sense to be "rather cautious and reserve some of firepower.” Other European figures offered counterpoint to these views, with the EU's Juncker noting that the ECB has room for further rate cuts and the Bank of Italy warning that the financial crisis could turn into an extended recession. The commodity currencies were firmer despite lower oil prices and a Baltic Dry Bulk Index that had its fifth straight decline, hitting its lowest reading since Feb 1999. USD/CAD is back below the 1.22 handle after Canadian retail sales surged 1.1% in September, above expectations. Dealers say position squaring is dominating the session, noting that the risk of an extended retrenchment rally hangs over the rest of the holiday trading week.


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

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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