User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday December 10, 2008 - 16:40:36 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update

US Market Update

Dow +105 S&P +11 NASDAQ +23

- Trading in US equity indices is volatile this morning but all three of the leading indices remain well into positive territory. Front-month crude had been up more than $2 after
Russia promised to follow any OPEC production cuts with cuts of their own, but energy prices have since made a move to the downside after weekly petroleum inventory data. The Baltic Dry Bulk index moved higher for the third straight session, raising a glimmer of hope among traders that many of the dry bulk carrier stocks may have reached an attractive level. Feb gold futures as trading up substantially back above $800 for the first time since the first day of the month. Treasury futures are seeing some selling in the wake of strong stock markets but yields continue to struggle in finding any upside momentum.

- Oppenheimer's Meredith Whitney reiterated her cautious view for the banking industry before the open, and that has led to some relative weakness in the early going. Whitney again suggested that large banks are facing trouble for at least the next 18 to 36 months and will need to raise more capital, noting that she believes consumers will be the next "shoe to drop" in the financial crisis as credit lines get pulled. In 2009 to 2010 she sees banks pulling some $2T in credit lines. Wells Fargo is also lagging after Merrill Lynch cut WFC to neutral. Overnight the Wall Street Journal reported that AIG may owe some Wall Street firms $10B related to "speculative trades," noting that this amount is not covered by AIG's rescue agreement with the Fed. The debts stem from bets on derivatives linked to subprime mortgages and commercial real estate bonds. AIG later claimed that the Journal's revelations are “not new.”

- Another morning, another round of falling guidance and corporate restructuring. Before the open mining major Rio Tinto said it would cut 14K jobs, or about 30% of its workforce and reduce 2009 CAPEX to $4B (from $9B) to help it deal with the commodities slump. RTP hopes to reduce its net debt by $10B by end of next year, and is planning to divest “significant assets.” Yesterday evening Electronic Arts said its 2009 results would be below its prior guidance and announced layoffs, giving the lie to the old adage that videogames are recession proof. According to ERTS, the revised outlook is primarily the result of lower-than-expected sales in
North America and Europe. No fewer than eight firms cut targets or lowered outlook on the game maker overnight. Praxair also cut its outlook on the coming quarter last night and announced job cuts. Seagate lowers its revenue guidance for next quarter, noting it is accelerating plans to lower production capacity. A.O. Smith cut its full-year earnings guidance due to sluggish demand. Actuant slashed its Q1 and FY09 earnings and revenue views, noting it would likely cut production and jobs. In another sign of plunging international trade, DryShips cancelled a $400M purchase of four panamax drybulk vessels.

- In currencies, the European pairs were broadly firmer against the USD in the
New York morning, with the USD tone hampered by technical and fundamental factors, including renewed commodity strength. Dealers noted their surprise that the market did not react more energetically to China's first drop in exports in seven years. EUR/USD was probing above the 1.30 handle - dealers noted that euro buy stops are building above the 1.3050 area. FX chartists noting some favorable chart patterns above 1.3050 area that suggest a measured move towards the 1.34 neighborhood. Several FX analysts said that the repatriation in USD may be coming to end and that there could be a trend to the upside for EUR against USD and JPY. The German Economy Ministry stated it has no immediate plans to change the government GDP forecast, reiterating that it expects German GDP growth of 0.2% in 2009. In other currency news, the BoE's Blanchflower said that he would leave the MPC in May when his term expires. Blanchflower is the most dovish member on the MPC.

- European equity markets are in positive territories. Euro-Stoxx 50 +0.6% at 2,497; FTSE 100 Index +0.1% at 4,384; CAC 40 Index +0.8% at3,325 and DAX Index +1.0% at 4, 828. March Bunds +1 tick at 122.17 and March Gilts futures +3 ticks at 118. 32.

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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 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