User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday July 31, 2009 - 16:15:20 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update

Today 11:30am EST/03:30pm GMT

US Market Update

Dow +26 S&P +1.5 NASDAQ +5.5

US equity trading has been jumpy and erratic this morning, with investors evidently undecided whether the Q2 GDP reading is a positive or a negative. The Commerce Department released its preliminary view of annualized Q2 GDP at -1%, beating expectations for -1.5%, while the personal consumption component was much lower than expected. Nevertheless, the economy has been in negative territory for four quarters now, its longest stretch in the red since 1947. Commentators have been discussing the figures ad nauseam this morning. The IMF said it sees a gradual economic recovery in the US, but warned that growth will stay lower than past recovery trends and said near-term risks are to the downside. JP Morgan's chief economist raised his Q3 GDP forecast to +3% from +2.5%, but warned that unemployment would remain high for years to come.

- Treasuries opened marginally higher this morning and prices accelerated to the upside after the initial look at Q2 GDP. While the headline figure beat expectations, GDP still contracted in the second quarter at a rate of 1% keeping inflation hawks from crowing too much. Despite these "better" outcomes, traders seem to have picked up on another revision of the Q1 figure to down more than 6% and following the data money came out of stocks and into bonds. The long bond future has gained more than a point, pushing the cash yield below 4.4%, while the 10-year is up more than half a point. As we have seen for much of the week the curve is getting flatter and the benchmark spread is narrowing below 245 bps.

- Chevron and Total were the final two global energy giants to report second quarter results, following reports from Exxon, Shell, BP and Conoco earlier this week. Like Exxon, Chevron missed earnings targets while beating revenue estimates by a significant margin. Profit was down 71% y/y, and its downstream segment operated at a loss for the quarter. Total's quarterly profit was in line with expectations, revenue was much better than expected. Shares of CVX are struggling to keep in positive territory, while shares and ADRs of the other four supermajors are down in low single digits.

- Car retailer AutoNation has been much in the news this morning with all the talk about cash for clunkers. The company's CEO told CNBC that it has seen a 36% surge in traffic following the initiation of the cash for clunkers program. The firm beat expectations in its second-quarter report, but missed revenue targets by 10% or so. Shares of AN are down 3% or so; fellow auto retailer Sonic Automotive is up 3% and Ford is up 6% in early trading

- Energy firm Constellation beat top- and bottom-line expectations and guided higher for the year. On the conference call, the firm's CEO discussed the ongoing tie-up with EDF, noting that the merger does not need to be made "at all costs." The company expects power prices to stay weak in the near term and then bounce back in 2011 and 2012. Utilities Dominion Resources, American Electric Power and PSE&G all beat earnings estimates, while the former two names missed revenue estimates. PSE&G warned the abnormally cool weather conditions this summer would make it hard to achieve its 2009 earnings guidance.

- In currencies,
New York trading has centered around the US and Canadian GDP numbers as well as month's end liquidity concerns. The better-than-expected US number was certainly welcome, but the lower benchmark revision for 2008 GDP (+0.4% instead of +1.1% as previously reported) curbed risk appetite just a bit. Dealers cited the narrower trade deficit and a surge in government spending as positive factors for GDP. In Europe, ECB sources told the press that the bank does not have a clear outlook for the economy and reiterated there is the possibility of another credit crunch. According to the sources, some in the ECB believe government bond purchases need to be added to the current covered bond program. If the Euro Zone economies weaken further, the bank would discuss further rate cuts. In its report, the IMF said the USD is moderately overvalued. EUR/USD ending the morning at its best level moving above 1.42.


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