User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday January 29, 2009 - 17:23:34 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:59am

US Market Update

Dow -130 S&P -17 NASDAQ -31

- US equity indices have given up much of yesterday's post-stimulus gains as corporate earnings and economic data continue to be weak. New home sales in December fell 14.7% m/m with monthly supply reaching all time highs, while December durable goods orders were down more than expected and the November reading was revised downward significantly. March crude looked to be making a run at $40 early in the NYMEX session but has since recovered somewhat. The contract remains lower by 2% though at $41.30 after the IEA lowered their demand outlook. Treasury yields remain on an uptrend consolidating the large move seen at the long end of the curve following yesterday's FOMC statement. The curve remains steeper with the benchmark spread back above 180 basis points and the long bond yield approaching 3.45%.


- Allstate missed earnings and revenue expectations in a big way yesterday evening, earning itself a ratings downgrade at S&P. The insurance giant alsp suspended its share repurchase program and said it would cut 2.6% of its workforce. Shares of ALL are down more than 20% in early trading.


- Ford managed to beat fourth-quarter revenue targets and squeeze out a loss that was smaller than expected, ex certain charges for restructuring and loss provisions. In its release, the shaky automaker reiterated that it doesn't need any Federal funding, confirming that it has drawn down its credit lines to the tune of $10B. On the conference call, Ford lowered its first-quarter North American production estimate to 400K; it had affirmed a 430K as recently as December. Several major auto industry parts suppliers also reported this morning, including Lear and Autoliv. LEA's earning were a complete disaster, although the big loss was largely driven by a big goodwill impairment; revenues were in line. ALV missed earnings and revenue estimates by large margins and cut its dividend in half. Automobile retailer AutoNation missing revenue targets by around 10%, noting that sales collapsed in the quarter. AN's CEO warned that orders for new vehicles are down 60% in February. Shares of Ford are only down 2% or so, AN is up more that 10%, while ALV-2% and LEA-10%.


- In technology, Qualcomm is down more than 6% after missing earnings estimates yesterday evening, although the firm beat the consensus revenue view. DELL-4% announced more cost cutting plans and said it sees a Q4 $135M pretax charge. Electronics manufacturer Flextronics fell 10% before the bell after missing earnings estimates and guiding well below par for Q4, but has retraced much of these losses in early trading. Western Digital is rocketing, with shares up 10% after the hard drive manufacturer blew out the street on the bottom line


- Manufacturing names Illinois Tool Works and Textron both beat consensus earnings estimates and reported revenue totals in line with the Street. ITW offered a very broad 2009 EPS forecast that was nevertheless below the consensus view. Textron also missed earnings and revenue targets for its 2009 forecast; shares of TXT plunged 25% from the open, while ITW-5%.


- Dry bulk shippers are under pressure this morning after DryShips discussed its exposure to the spot shipping market in a filing yesterday. DRYS noted that 12 of its vessels are trading in the spot market, warning that the huge declines in the Baltic Index and potential further declines could hurt the company's top line. In addition, it noted it is in breach of covenants with certain lenders. DRYS is trading down 23%, while fellow dry bulk names EGLE, DSX and GNK are down 5-8%.


- US Airways, Continental Airlines and JetBlue reported better-than-expected results this morning. US Airways' loss was smaller than expected, while its flight metrics held up well compared to year ago levels. JetBlue eked out a profit, versus expectations for a small loss, and said it grew CASM 17% y/y. Continental's loss was a bit smaller than expected, ex charges. JBLU and LCC ar bog up aroud 5%, while CAL has fallen into negative territory. Elsewhere in leisure, cruise line RCL-20% is getting hammered after missing earnings targets and offering a very weak forecast for next quarter.


- In currencies, the greenback was mixed in New York trading. EUR/CHF was quite active after the SNB's Roth prompted decent CHF buying after he noted that there was no need to curb CHF strength at this time. He did note that recent CHF appreciation has been painful for Swiss exporters. The USD was firmer against the EUR on continued concerns that the new upper limit imposed by the Russian Central bank last week would be tested far sooner than expected. USD/RUB exhibited its largest two-day price move in a decade, while Russian FX reserves declined by $10B w/w according to the latest data. The weaker US data had global implications in terms of safe-haven flows. Both the USD and JPY benefited from risk-aversion flows while gold moved back towards the $900/oz level to recoup earlier lows below $880/oz.

 

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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

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

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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