User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday June 3, 2009 - 15:52:24 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:29am EST/03:29pm GMT
US Market Update Dow -70 S&P -11 NASDAQ -10.5

- US equity indices opened lower this morning as the morning's ADP job data spooked investors into taking profits after two days of strength. The May ADP employment change registered a slightly bigger decline than expected, while an extra 50K in job losses was added to the prior month's data. Nevertheless, the data is still showing big improvements over the 600K+ declines seen in the first three months of the year. Fed Chairman Bernanke is testifying before Congress this morning, telling legislators that the US cannot keep borrowing indefinitely to meet spending needs and warning that tax rates must ultimately be "set at a level sufficient to achieve an appropriate balance of spending and revenues." Front-month crude is well off recent highs, down nearly $2 around $66.75.

- Last night more details emerged concerning the Fed's tweaking rules under which banks may repay TARP funds. Among other things, JP Morgan, American Express and Morgan Stanley were all specifically told to raise more capital in order to pay back TARP, less than four weeks after they were told they had enough to deal with a deeper economic slump. Goldman Sachs was not asked to raise more capital since it had raised funds in April. There have been reports that Citigroup is looking to amend common share authorization up to 60B. Back in March there were various press comments speculating that Citi would look to boost its share authorization up to 40B to fulfill an exchange of preferred stock into common stock.

- Negative guidance calls from Aetna and Valero have dragged down both names and their respective sectors in early trading. Aetna cut its 2009 forecast to $3.55-3.70 from $3.85-3.95 thanks to rising medical costs and falling Medicare revenue. Wachovia and Credit Suisse cut their ratings on the name overnight. AET is off its worst levels in early trading, but still down 8%. Other managed care names were down on the news, with CVH, CI and HUM down 3% or so today. Valero offered Q2 earnings guidance of -$0.50, which compared very unfavorably with analysts' expectations for $0.74. Valero's Q2 has been adversely affected by extended downtime at its Delaware City and McKee refineries and by the continuation of weak sour crude oil discounts and lower diesel margins. Shares VLO are down 16%.

- Homebuilders Toll Brothers and Hovnanian are both heading in the same direction in early trading despite their divergent second-quarter results. TOL cut its quarterly loss to a bare minimum (ex write downs), beating analysts' estimates by a wide margins. The firms new contracts have nearly doubled, offering homes that some of the upswing seen in certain housing data is aiding the company. Toll's CEO said it appears some buyers are beginning to re-enter the new home market. Hovnanian's loss was bigger than expected, and its metrics did not quite show the improvements seen at Toll brothers. TOL is down 6% in the early going, while HOV is -10%.

- Tech journal Digitimes reported this morning that solar cell spot prices have fallen to $1.4/watt. According to the article, Chinese and Taiwan polycrystalline manufacturers were offering spot quotes of $1.4/W at last week's Intersolar 2009 trade fair. Recent research suggests the average industry manufacturing cost is around $1.8/watt. Solar names are giving up the gains of recent days on the news, with leading solar ETF TAN -5% on the news.

- In currencies, the greenback hit choppy trading in the New York session but held its firmer position as the ADP employment report prompted risk aversion and profit-taking ahead of the ECB decision tomorrow and Friday's US non-farms payroll report. The USD was wobbly as dealers debated the authenticity of a "joint statement" issued by several Asian monetary authorities; some have noted that reporters may have compiled the statement comments that were in fact made separately. Later in the New York session the back-month revision of the ADP numbers and the failed Latvia bond auctions prompted renewed USD buying against the major European pairs, with the Swedish Kroner especially weak given Swedish lending exposure to Latvia. This was tempered by comments from Bernanke that Treasury yields are rising on both deficit concerns as well as an improving economic prospects. The inability of the USD/RUB pair to sustain any downward momentum below the 30.50 level also aided the dollar, as the move cut the aggressive appetite for euros at the Russian Central Bank in its quest to smooth out its currency basket. The commodity currencies also retraced from their recent trend helped by weaker energy and metal weakness.

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