User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday June 18, 2009 - 15:48:41 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:44am EST/03:44pm GMT

US Market Update

Dow +56 S&P +6 NASDAQ -5

- US equity indices are generally making the first real advances of the week as the blowout Philly Fed data prompts investors to buy stocks. The tech heavy NASDAQ is the notable laggard in front of tomorrow's quadruple witching and this afternoon's earnings results from RIMM. The initial jobless claims remain above the 600K level, while the continuing claims have fallen on a w/w basis for the first time in months. Some commentators believe the improvement had more to do with benefits running out for long-term unemployed rather than any uptick in hiring, however. The Philadelphia Fed provided a stark contrast to Monday's disappointing June Empire Manufacturing data, with its survey of business conditions dramatically better than expected (-2.2 V -17.0E), for the best reading since last September. Front-month crude is back above $71 in early trading.


- The brighter picture on the data front and the Treasury announcement that they would be auctioning off $104B in new coupon supply next week has brought sellers back into the bond market. The benchmark 10-year has popped back above a 4.75% yield with the long bond rate nearing 4.6% once again.


- Financial stocks are bouncing back a bit after three days of declines now that the broad outlines of the new financial regulation proposals have been made clear. However, commentators are showing some doubts about Citigroup, which many assume will not benefit from the new regulatory regime. GE Capital is also likely to face more regulation under the new system. The WSJ points out that GE's finance arm does not currently fall under the purview of a bank regulator, while under the new regulations GE Capital would likely be classified as a systemically important firm because of its size and be forced to operate under stricter regulatory oversight. Shares of GE fell as much as 5% in early trading, before heading back toward positive territory.


- Major industrial names Caterpillar and Emerson Electric disclosed order data that hardly indicates any recovery is under way for these two companies. Cat's three-month retail sales in North America fell 57%, compared with declines of 51% and 41% in April and March, respectively. Retail sales for the rest of the world fell 35% over the period, also at a faster pace than in the prior two months. Emerson said order trends improved sequentially in May from the month before, but continued to show weakness across its global markets. Emerson's three-month order rate was down 25% in May, compared with declines of 25-30% in March and April.


- In earnings, J.M. Smucker crushed analyst estimates in its Q4 report and also guided full-year earnings above expectations. The company also managed impressive y/y margin and US retail growth. Carnival Cruise Lines came in ahead of expectations in its Q2, despite higher fuel prices and disruptions from H1N1. The firm guided slightly below par for next quarter, and cut its full-year forecast slightly. Discover Financial reported a profitable Q2 thanks to a big payout from its lawsuit victory against Visa and MasterCard. Before this special item, TTN analysis suggests that the firm lost $0.15 per share in the quarter, compared to analysts estimates for a $0.30/shr loss.


- In currencies, rising risk appetite helped EUR/USD and EUR/CHF move higher following the US weekly claims data, which saw the first w/w drop in continuing claims since Jan 2nd and the largest weekly decline since Nov 2001. Overall, risk appetite improved as participants took the data at face value. The better Philly Fed and leading indicators also cemented the view that the worst of the economic crisis has past. EUR/USD tested the alleged "Chinese" 1.4000 option barrier but encountered some stiff selling nonetheless.


- The sharp move in Swiss Franc-related pairs prompted renewed chatter of currency intervention, with the Bank of International Settlements cited as the intermediary. Dealers are noting it remains unclear whether 1.50 is the clear "line in the snow" for SNB intervention. The market has significant long EUR/CHF positions, and the cross was testing the 1.5000 in early New York trading where plenty of option barriers seemed vulnerable. SNB's Jordan commented that the SNB had no fixed FX threshold. Nonetheless, the cross soared to 1.5140 on rumors of intervention, with the BIS, the SNB and the ECB all having "no comment" on whether actual intervention had occurred. Dealers are now focusing on the key resistance level of 1.5230, which corresponds to the downtrend line from the 1.6330 highs made in late July 2008.


- Oil and metals encountered a choppy session and the price movement was reflected in the AUD and CAD pairs that mirrored the commodity price action. USD/CAD tested the 1.1360 area before moving back to 1.1250. The pair was also aided by the higher-than-expected Canadian CPI data. AUD/USD is back above the 0.80 handle as rising risk appetite put oil back in positive territory.

 

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 20 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales


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: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.


  • POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing 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