User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday April 28, 2009 - 16:02:56 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:14am EST/03:14pm GMT

US Market Update

Dow +5 S&P +1 NASDAQ +5

- Much like yesterday's open, equity indices took a tumble this morning and then popped right into positive territory shortly after the open. Although the Swine Flu jitters seem to have died down somewhat, there are plenty of other factors in play, chiefly the initial leaks surrounding the Treasury's stress tests and the Feb S&P/CS housing data. Commentators are rejoicing that the latter did not register another record-setting decline, with optimists fixing on this as yet another sign that the housing market is bottoming. Note that the decline in the index of home prices in 20 cities was 18.6%, a very slight improvement over January's 19% decline. Bond prices opening higher but have since given back any flight to safety bids as stocks recovered. The 5-year note is down 4 ticks yielding 1.86% ahead of this afternoon's $35B auction. June Gold is down 1.5% moving back below $900 on speculation central banks will become more aggressive in selling gold.

- Despite reports last week that US regulators had imposed a harsh gag order on banks with regards to the stress tests, the inevitable disclosure of the test results has begun. Citing people familiar with the results, the WSJ reported overnight that Citi and Bank of America have been told to raise billions of dollars in fresh capital - apparently regulators want the banks to take on the extra capital to provide a bigger cushion rather than to stave off insolvency. Unsurprisingly, executives at both banks are reportedly objecting to the findings. There were other reports circulating that US regulators are already holding talks with Citi on the results and the bank's capital position. Note that last night FDIC Chairwoman Bair reiterated that the stress tests are not pass/fail "solvency tests." Meanwhile, republican banking point man Senator Shelby believes many banks are inadequately capitalized, and called for banks to be closed or merged with others if they fail the stress tests. Shares of Citi and BoA are both down around 3% early on, while WFC is down about 2%.

- Pharma titans Bristol-Myers Squibb and Pfizer reported largely in line with expectations this morning, and both firms reaffirmed their 2009 forecasts. Note that Pfizer reported substantially lower revenues for several of its leading drugs, including the blockbusters Lipitor (-13% y/y) and Chantix (- 36% y/y). Mid-cap health insurance name Coventry came in a bit ahead of the Street and reaffirmed its full-year guidance, noting that membership growth in medicare business has been even stronger than expected in 2009. Shares of CVH are up 6% and headed higher mid morning, while PFE and BMY are underpeforming.

- In the European session BP said its profit fell 64% in Q1 despite its growing production, improving refinery output and declining costs and the company's Chairman said BP must adjust operations to $50/bbl world. Before the US open, Valero beat earnings estimates as net income rose 18% amid higher margins on gasoline and fuel oil.

- Office Depot made a small profit in Q1 (ex items), beating expectations for a small loss. Note that ODP recorded a net loss $0.20 from charges related to its decision to shut 107 underperforming stores. On the conference call, executives warned that ODP is seeing no "material improvement" in corporate spending in Q2. Apparel name Under Armour stomped estimates, but warned that Q2 would be much weaker. Fortune Brands guided well above the Street for its upcoming Q1 results and reaffirmed its 2009 outlook. On the downside, the firm cut its dividend to preserve cash. ODP is up nearly 20% in early trading, US is up 14% and FO is up 8%.

- -In currency trading, the risk aversion theme that dominated the early European session faded away during the New York morning, aided by the faintly positive housing data. Both the USD and JPY saw earlier gain evaporate as the S&P500 and DJIA recovered from electronic sessions lows. The EUR/USD was back testing the pivotal 1.3070 level as the New York morning drew to a close after testing 1.2965 earlier in the session. USD/JPY rebounded over 100 pips from session lows after retesting its historical pivot point of 95 handle. Sterling also firmed from its 1.4520 session low, aided by the best CBI distributive data out of the UK since January 2008. GBP/JPY surged almost 300 pips off its 139.00 lows to probe the 142 neighborhood.

- Dealers have also been watching the session weakness in spot gold, attributed to long liquidation chatter. Key support remained at $860/oz level. Additional chatter circulated that an imminent new Central Bank gold pact that might lead to changes to increase the amount of gold that can be sold. The central banks are currently in the fifth and final year of a Central Bank Gold Agreement (CBGA).


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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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