User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday December 1, 2008 - 17:00:14 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:28am

US Market Update

Dow -398 S&P -48 NASDAQ -80

- The Thanksgiving stock rally is screeching to a halt this morning as US equity indices open down and head lower. Risk aversion has returned to prominence pushing Treasury yields to yet new historic lows in some cases. The euro and cable continue to suffer while the yen is being bid up. The US ISM Manufacturing data is weighing on trade, hitting fresh 26-year lows, with the prices paid component hitting lows last seen in 1949. Front-month crude and metals are weaker, with oil below $50 as funds head for cover in fixed income.



- Before the NY open JNJ said it would acquire cosmetic surgery supplies company Mentor for $31/shr, in a deal valued at $1.12B. The boards of both companies have approved the transaction, which is expected to have a dilutive impact on JNJ's 2009 EPS by around $0.03-0.05. and close in Q109. Also before in the pre-market DOW confirmed a 50/50 joint venture deal with PIC of Kuwait to launch K-Dow Petrochemicals, noting that the total value of the Dow businesses going into K-Dow is approximately $17.4B and that it expects to receive $9B in pretax proceeds. The partners are getting things off the ground rapidly, with the new company scheduled to begin operations by Jan 1, 2009. K-Dow will concentrate of manufacturing and marketing petrochemicals and plastics worldwide, including polyethylene, ethyleneamines, ethanolamines, polypropylene and polycarbonate. In addition, DOW said that upon closing of the transaction, each shareholder plans to receive a $1.5B special cash distribution, paid by K-Dow.



- The Big Three automakers are scheduled to return to Washington at the end of the week to plead their case to Congress. Before the open Ford announced it would re-evaluate strategic options for Volvo over the next several months, continuing work on its restructuring plan. Just last week Ford said it would trim its 2008 European production by 10%, to 15M units from 16.7M. On Sunday various press reports noted that GM spent the weekend jockeying for the best possible position ahead of CEO Wagoner's appearance on the Hill. The WSJ wrote overnight that GM board members are keeping the option of a bankruptcy filing open, while earlier yesterday the London Times wrote that Wagoner was holding last-ditch negotiations for a debt-equity swap deal with lenders over a multi-billion debt for equity scheme. In early New York trade shares of GM and F extended recent gains before retreating on reports the Swedish government is unwilling to provide aid to either the Saab or Volvo.



- In other equity news, Alkermes announced it has cancelled its collaboration agreement with Cephalon and regained rights to Vivitrol. Thanks to recognizing deferred revenue of around $120M from the deal as net collaborative profit in Q309, ALKS substantially boosted its FY09 guidance. ALKS gained more than 5% before the open, and fell rapidly to around -2% after the bell. Merrill cut price targets on numerous managed care insurance names, leading to broad-based weakness in the sector. United Health is an exception, after it fine-tuned its guidance earlier this morning but essentially reaffirmed; Merrill raised the name to a neutral from sell. The Semicouductor Industry Association had more bad news for semi names, reporting that global sales in October declined 2.4% y/y, noting that 2009 PC shipments would decline by 5% and cell phone shipments are projected to be down 9%.



- In currencies, traders are nervously noting the return of a risk aversion theme that looks a lot like last August. Equities are broadly lower, the USD and JPY pairs are exhibiting strength as funds flow to the safety of government paper in a week with several key central bank decisions scheduled. Growing speculation points to aggressive interest rate cuts by the BoE and ECB, with the consensus at this time looks for a 100 bps cut to 2.0% by the BoE and a 50 bps cut by the ECB. Earlier this morning, an ECB source indicated that a 75bps would be viewed as a “panic move,” bringing more harm than benefits. The Swedish Central Bank moved up its scheduled policy meeting to Dec 3 from Dec 16, sparking chatter about coordinated central bank moves.



- A UK spokesperson denied speculation that the UK would consider a move into the euro, but the GBP was markedly weaker in the session against all major pairs. GBP/USD is down 450 pips at 1.4895, GBP/JPY is lower by 650 pips at 139.85 and the EUR/GBP cross is firmer by 225 pips at 0.8480. CAD rebounded from session lows following its GDP figures for Sept and Q3, but lower energy and metal prices offset any positive momentum from the data. USD/CAD is at 1.2440 and AUD/USD is probing the 0.64 handle. Emerging market currencies were softer on the risk aversion theme. Russian Central Bank has spent $2.0B in support of the ruble in today's session.



- The risk aversion theme sent European equities lower by 4.8% and yield curves steeper. The Dec bund contract continued to make fresh contract highs above the 122.55 area. Dec Gilts +100 ticks at 118.50. Euro Stoxx 50 index -5.2% at 2,303; FTSE 100 Index -4.7% at 4,089; CAC 40 index -4.8% at 3,106 and DAX Index -5.7% at 4,405.

 

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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
John M. Bland, MBA
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..

pic

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 Global-View.com.

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

Global-View.com 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 Global-View.com. 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.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

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