- US equity indices are making modest gains this morning in the absence of any significant economic data, while the dollar continues to test new lows on the year. The weak dollar continues to aid oil: front-month crude traded off a bit in the European session, but is back above $72 as it become clear OPEC will leave output levels unchanged later today in their schedule meeting in Vienna, while. Gold is hesitating around $1,000, after former Fed Chairman Greenspan commented that the rising trend in gold prices were strictly a "monetary phenomenon." Greenspan also added that it could take until the end of 2009 before inventories were fully exhausted and expected a "fairly pronounced" recovery in US and globally thereafter. Treasury prices are lower with more pronounced selling seen at the long end of the curve ahead of this afternoon's 10-year reopening. The US benchmark spread has widened out back above 250 basis points.
- Fast food giant McDonalds reported is smallest monthly same-store sales gain since back in March. August comps were up a mere 2.2% (half the expected amount), and only up 1.7% in the US. Shares of MCD are down 2% in the early going, with fellow fast-food name YUM down as much as 3%, while WEN and BKC are in the red. A raft of debt and stock offerings hit markets and are moving names this morning. Barrick Gold increased its big share secondary to $4B from its initial $3.45B proposal, and also said it would take a $5.6B charge to Q3 earning to liquidate gold hedges (in the face of the relentless rise in gold). Shares of ABX were down 4% on the news. AEE, CREE and PAA are all down slightly on share secondaries. Candela is up 35% after announcing it would merge with Syneron Medical in an all-stock deal; ELOS is down 10%. VIVUS is up 70% after two Phase III studies in Qnexa met all primary endpoints.
- Vacation has ended and the lead-up to third-quarter earnings season has begun as companies attempt to manage investor expectations on earnings and revenue performance. Conglomerate Textron reaffirmed its full-year forecast (TXT+3%). Semi manufacturers Microchip Tech and Diodes echoed moves by many other chip makers and modestly raised guidance for the current quarter (MCHP+2%, DIOD flat). Radio hardware manufacturing name Endwave warned that its Q3 revenue would be very sharply lower and would miss estimates by very large margins on weak demand and supply chain issues (ENWV-8%). ISTA Pharma raised its 2009 revenue outlook following FDA approval of its Bepreve drug (ISTA+10%). NuStar Energy slashed its Q3 earnings outlook on falling profit margins (NU flat). Health Care REIT trimmed its 2009 FFO guidance while Sun Healthcare cut its full-year outlook on expectations of lower Medicare reimbursement rates (HCN+1%, SUNH+4%).
- In currencies, the greenback continued its soft tone, testing fresh 2009 lows against EUR and CHF pairs and seven-month lows against the JPY. There has been continued dealer chatter that the dollar has become the new funding currency, while lingering chatter of reserve diversification weighed on the dollar sentiment. In early New York trading euro strength was attributed to Middle Eastern names purchasing for possible reserve diversification purposes. EUR/USD fell just shy of the 1.4600 level, which was the measured move target of the break above the 1.3460 level back in May. USD/JPY tested below summer lows of 91.70 despite dealer chatter of good dollar bids ahead of the level (rumored to be Japan's Kampo). CAD managed to shake off its soft tone in early European morning and managed to end the NY morning little changed from its Asian opening levels of 1.0780.
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
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
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.
Mon 18 Dec
10:00 EZ- final HICP Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes Mon 25 Dec
00:00 Christmas Holidays
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.
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.
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 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.
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 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.
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.
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.