User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday June 16, 2009 - 16:03:49 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:33am EST/03:33pm GMT

US Market Update

Dow -3.7 S&P +1.4 NASDAQ +9.75

- US equity indices are moving sideways this morning as another round of grim industrial production data clouds out any sunshine from the mildly positive housing data. The May housing starts and buildings permits data came in slightly above estimates, rising by the biggest amount in three months. However, the May industrial production and capacity utilization data provided herbicide for green housing shoots, with both readings still in negative territory. The industrial production data showed its seventh straight month of contraction, while capacity utilization marked its fourth consecutive record low. Bearish comments from various quarters are also weighing on sentiment: Goldman Sachs Chief Economist said he still sees the potential for a market correction over next several weeks, while the American Bankers Association forecasted US unemployment peaking at 10% and above 9.5% throughout 2010. Note also that Morgan Stanley expects to repay its TARP funds sometime today. NYMEX crude has recouped its losses from yesterday on the weaker USD, with the front-month contract back over $72 mid morning.

- US Treasury prices opened to the downside after it was reported Russian President Medvedev would raise the reserve currency issue at today's BRIC meeting. But the official outline of the communiqué failed to really spook investors and another coupon purchase from the NY Fed sent prices into positive territory and yields lower. The 10-year is yield has returned towards 3.7% while the long bond offers 4.53%.

- In earnings, shares of Best Buy are down 5% after the company came in more or less even with analysts' estimates and reaffirmed its 2010 forecast. Smithfield Foods' loss was slightly less than expected, while its revenue was well below estimates. The company believes the A(H1N1) virus only had a short-term effect on US pork demand. As consumers received more accurate information about the virus, Smithfield saw domestic market conditions begin to move back to more normal levels. International markets still face some restrictions, however. La-Z-Boy was in the black in its Q4 crushing estimates for an $0.11 loss. Shares of LZB are up 15% but off their best levels.

- In other equity news, Genzyme temporarily shut down drug production at its Allston Plant after it detected a virus that impairs cell growth in one of six bioreactors at the facility. The company expects the plant to be fully operational by the end of July. Shares of GENZ fell 7% before the open and have recovered somewhat in early trading. Steelmaker Nucor essentially reiterated their earlier qualitative guidance for Q2 with hard numbers before the open. The company said its loss in the quarter would be smaller than expected, sending its shares up 4%. According to Nucor's CEO, order entry has improved in recent weeks, although the economic outlook remains very uncertain in light of the continuing structural economic challenges. Shares of Tyco are up 8% after the firm guided substantially higher than the Street for its Q3, citing additional revenue in consumer markets and undersea telecom segments.

- In currencies, the greenback was softer headed into the New York session on price movement ahead of the BRIC summit in Russia and better German ZEW data. EUR/USD tested the 1.3930 level before meeting solid selling from sovereign names in Asia. Dealer chatter of euro buy-stop orders above the 1.3950 level are safe for the time being. The BRIC draft communiqué came out just before the equity open, calling for a "diversified, stable, predictable currency system," with no mention of the role of the dollar or any supra-national currency. The statement indicates there are conflicting views among Russian and other BRIC finance officials, given that the reserve currency issue was brought up in a general sense but without any specific mention the dollar's role.

- JPY price action has been choppy as dealers continue to debate the situation at Japan's public pension fund, the worlds largest. There was news the fund might sell JGBs to cover payments; dealers were noting that this could mark the beginning of the end for Japan as a capital exporter. In addition, Japanese tax laws could encourage repatriations of funds back home. These raise question about whether you can expect the JPY to be in demand for the foreseeable future. The steady dollar during the mid-NY morning helped the energy and metals consolidate their earlier gains. The CAD and AUD currencies were paring their gains as a result.


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 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 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