User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday April 22, 2009 - 15:37:38 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:25am EST/03:25pm GMT

US Market Update

Dow +51 S&P +7 NASDAQ +24

- Equity indices opened lower for the third morning in a row after Morgan Stanley spooked investors with its Q1 results. But the focus swung quickly to stronger results from Wells Fargo, AT&T and McDonalds, helping the DJIA and S&P500 test Monday's opening levels. The Nasdaq is relatively strong this morning thanks to Yahoo's results and bidders in Apple ahead of this afternoon's Q1 results. Money also flowed to the financials in the early going sparking the broad rebound following reports that stress tests will penalize troubled loans more than asset backed debt securities. Energy prices are holding near unchanged consolidating recent losses despite weekly DOE inventory builds across all products.

- US Treasury prices have slipped as stocks gained traction. The 10-year yield has climbed back toward 2.95%. US yields also moved higher while eyeing the GILT market across the pond. UK's Darling announced the DMO intends to issue £220B in GILT debt this year sending prices lower and the curve steeper. GILT futures are down 145 ticks pushing the 10-year back above 3.45%.

- Wells Fargo and Morgan Stanley were the last of the most highly anticipated financials to report their Q1 results. Morgan Stanley has fallen far behind the other leading US banks, offering dire Q1 results that included a much larger-than-expected loss and revenues well behind analyst targets. The firm cut its dividend steeply to $0.05 from $0.27. The CEO said the firm would have been profitable if not for the dramatic improvement in credit spreads, which is a positive development but one that had a negative impact on revenues. In a press interview ahead of the conference call, Morgan's CFO said real estate is the firm's "single biggest worry" and noted that it may issue non-guaranteed debt. Wells Fargo followed in the footsteps of Citi, BoA and Goldman, beating earnings and revenue estimates, although by narrower amounts than other big banks. Nearly all of the bank's key metrics saw substantial improvement, and on the conference call executive said the integration of Wachovia is going well and should not lead to further losses. Elsewhere among the financials, Capital One bombed in quarterly earnings, reporting a huge loss and missing revenue estimates by almost half. Shares of the tier-1 banks are making steady gains mid morning, with shares of WFC up 8% and MS well off its opening levels around -2%. COF has been volatile, opening down 7%, rising to +6% and continuing to pivot in and out of the red.

- Major Dow components AT&T and McDonalds reported strong earnings, although both missed a bit on revenue. Both companies reported healthy growth in sales metrics and emphasized that they are working to prepare themselves for strong growth upon the arrival of economic recovery. AT&T's iPhone business was especially strong, with more than 1.6M activations in the quarter, boding well for Apple's results today after the close. Dow component Boeing missed the Street's estimates slightly and lowered its EPS forecast for 2009. The aerospace giant's order backlog and operating margin both fell on a q/q basis. Shares of BA and T are up around 3.5%.

- Yahoo is helping prop up the Nasdaq this morning after a big earnings win in the first quarter, with profits twice the estimated figure. But Yahoo's CFO warned that "dark clouds" remain on the horizon, noting that the difficult economy impacted "all aspects" of business. Also note that various press reports are claiming that talks over some kind of search/ad partnership between the two keep rolling on and on and on, prompting a denial from Microsoft's CEO this morning. Quarterly losses at chip maker AMD and memory manufacturer SanDisk were smaller than expected. SanDisk cited improving demand and lower operating expenses, while AMD benefited from a big jump in margins. On the conference call, AMD's CEO said that the inventory contraction should end in Q2, but warned that consumers are now only paying for what they need. Hard disk maker Seagate had a larger-than-expected loss, and expects losses to be worse than estimates next quarter. Shares of SNDK and STX are up 12% and 8%, respectively. AMD is around even.

- Sterling has been the focus of currency trading this morning, following the unveiling of the UK budget by Chancellor of the Exchequer Darling. The proposed UK deficits would total £703B during the five fiscal years through April 2014 compared with £434B forecasted back in November. For the 2009 year, the £175B deficit would equate to 12.4% of GDP, which would be the biggest in the G20 nations. The pound exhibited weakness after Darling announced a 50% tax bracket for incomes greater than £150K, effective April 2010. The UK is also raising tobacco duties by 2%, effective immediately. The Department of Debt management (DMO) stated that the UK Government would now issue £220B in Gilts during 2009 period, above £200B the market had expected. GBP/USD fell 250 pips to test below the 1.44 level before rebounding back above the 1.45 handle. EUR/GBP drifting back toward the 0.90 neighborhood.

- The USD price action saw some earlier risk aversion flows evaporate despite cautious GDP remarks from the IMF, which has once again revised its 2009 global growth outlook lower, to -1.3% compared to the -0.5% forecast back in January. The IMF also noted that financial stabilization would take longer than expected and that interest rates would likely stay around 0%. EUR/USD moved back above the 1.30 area with euro strength attributed to buying in the EUR/GBP cross coupled with interbank stop hunts above 1.3000 level. The 1.3070 area was cited as a key hourly resistance level in the pair. Note that both the USD and JPY seemed back in sync with equity price action as US indices managed to reverse earlier weakness to probe into positive territory in the mid-NY morning.


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