User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday May 13, 2009 - 16:08:09 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:19am EST/03:19pm GMT

US Market Update

Dow -156 S&P -18.3 NASDAQ -37

- The weak April retail sales data is weighing down US equity trading this morning as the rally continues to flatten out in the wake of earnings season and the stress tests. The Commerce Department reported that April retail sales declined 0.4%, while economists had been expecting them to be flat. Also note that the March figure was revised downward slightly. Front-month crude has been below yesterday's highs, around $59 after OPEC noted in its monthly report that members' compliance with output cuts has slipped to the 77% from above 82%. Energy products briefly rallied following weekly inventory data from both the API and DOE which showed surprising draw downs in both crude and gasoline inventories, but any gains have been muted thus far by the weakness in stocks.


- Treasury prices are rallying for the second straight session as traders unwind a portion of the recent rotation we have seen from bonds to stocks. With no Treasury auctions scheduled this week and a third Fed coupon purchase on tap for tomorrow yields have moved decidedly lower over the past two sessions. The benchmark yield is nearing 3.1% while the long bond is sub 4.1%. Corporate debt issuance continues to explode. JPM and AXP announced non FDIC backed offerings this morning in hopes that the door to pay back TARP money will be opening up soon. We have also seen a slew of lower quality higher yielding offerings come to market over the past few sessions.


- Shares of the tier-1 US banks slipped before the open this morning as the realities of the current market have begun sinking in on investors, now that earnings and stress tests are behind us. RealtyTrac offered a dose of dismal April data, noting that US foreclosures were +32% y/y and up one percent from the prior month, hitting their highest level since the data series began in 2005. More ominously, the organization said foreclosures should only grow given that temporary freezes on the practice ended in March. Citi expanded its program to convert preferred stock to common equity, adding another 1.6B shares to the effort. Citi now plans to exchange $33B in preferred shares, up from $27.5B. The WSJ reported that the US government is looking at ways to alter compensation across the financial industry, including legislation, SEC regulation or moral persuasion. And last but not least, Freddie Mac reported a $9.8B loss and said it will need another $6B in capital from the Treasury.


- The flood of secondary offerings continues, prompting many commentators to see in the offers more evidence of some kind of temporary top in equities. BB&T priced 75M shares at $20 last night; shares of BBT opened about -10%, right above the offering price, and have gained a little ground in mid morning trading. Ford's 300M secondary priced at $4.75, with shares opening -4%, dropping briefly below $4.75 before heading up toward the $5 handle.


- Chip maker Applied Materials met analysts' diminished earning expectations, and managed to outperform revenue targets. But the company's Q2 results were weak, with gross margin retreating to 15% versus 44% y/y and its forecast for next quarter's earnings well below expectations. Intel confirmed that it is being fined $1.5B by the EU Commission. Representatives of the company took strong exception to the move, noting that the ruling ignores the reality of a highly competitive industry. Clearwire formed an alliance with Cisco to develop 4G mobile internet services. And Verizon reached a deal to sell wireline phone service areas outside its main Northeastern and Californian territories to Frontier Communications for $5.3B in Frontier stock and $3.3B in other payouts. Shares of DPS and ANN are up 5%, while M is down 5%. LIZ is down -20%.


- In earnings, Doctor Pepper Snapple beat the Street and raised its full-year forecast. Macy's quarterly loss was smaller than expected, and the company said it could beat its fairly weak 2009 forecast if the economy picks up in the second half. Ann Taylor also offered some upbeat news, guiding its Q1 loss as smaller than analysts are predicting. Liz Claiborne is not doing so well, missing across the board as sales among all its major brands continue to decline at a double-digit pace.


- The news flow from both Europe and North American popped into high gear on Wednesday, with the USD recovering some of its recent losses against the European pairs aided by a renewed sense of risk aversion. Mixed Chinese economic data, soft Euro Zone Industrial Production data and weak US retail sales data help the USD and JPY firm up in early New York trading. Dealers said the shortfall in April retail sales coupled with the downward revision in prior month was a factor, noting that the data suggested rising unemployment was prompting consumers to save more.


- EUR/USD tested the 1.3570 level but was unable to garner enough strength to make fresh weekly lows. The 1.3550 level is proving to be formidable support in the pair. JPY was broadly firmer among the majors with USD/JPY hugging the 96.00 level for the bulk of the morning. The JPY's advance against its European counterparts was even more impressive, with EUR/JPY off 80 pips at 130.80 while GBP/JPY tested below 145 level before retracing. Sterling recovered from its losses earlier in the trading day after the BoE said any economic recovery would be weaker and slower than previously suggested. GBP/USD re-approached the 1.51 area after testing the 1.5090 level. Like the euro, GBP did not make any fresh weekly low in today's sell off against the USD.

 

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