- A theme of a firmer dollar and declining stock and commodities prices took hold yesterday following the FOMC statement and has carried through to today. Weekly unemployment data helped goose US indices a bit higher before the open after initial claims were seen falling for the fourth week in a row (and more than expected). But the decline in August existing home sales spooked investors, as the data came in lower than expected for a 2.7% decline from July totals. Adding to jitters, an NAR official said there was a risk of a "double-dip housing recession" in the US if the first time homebuyer tax credit was not renewed. Debt and equity offers continue to flood the market in what is likely the most active IPO calendar in more than a year. Commodities are under assault, with major reversals seen in oil and gold. Front-month NYMEX crude has moved to levels not seen since early July, with the contract sinking below $67. Gold is off more than $15, testing below $1,000 while Dec copper has made fresh one-month lows below $2.75. Natural gas is a notable exception, with prices trading higher after the EIA inventory data was in line with expectations. Treasury markets continue to find bids pushing the benchmark yield back below 3.4%.
- The Federal Reserve is further scaling back lending in two emergency lending programs as the economy improves. The Fed plans to reduce the amount of money available to banks in short-term loans under the TSLF and TAF, while also noting it may make the latter program permanent. Note that back in June the Fed extended the duration of many of its other emergency loan programs, including the TSLF.
- Bed Bath & Beyond is down 5% despite a better-than-expected Q2 report yesterday after the close. Executives called analysts' consensus estimates for next quarter and the full year "reasonable" on the conference call, but warned the rest of the year would be challenging. Paychex is down more than 6% after a dismal full-year revenue forecast (quarterly results were in line). American Greetings is up more than 20% on blowout Q2 earnings, which crushed estimates thanks to a big insurance payout. Red Hat is up nearly 12% on solid earnings and guidance.
- Today is the biggest day for IPOs in years, with five initial offerings on the docket. Artio Global (ART), Apollo Commercial Real Estate (ARI) and Colony Financial (CLNY) began trading just after the bell this morning. ART, an asset management firm catering to institutional clients and mutual funds, was priced at $26 and opened at $27.30. Commercial real estate REITs ARI and CLNY were both priced at $20 and both opened at $19.50. Over at the NASDAQ, electric car battery manufacturer A123 Systems (AONE) should begin trading later this morning. The offer was priced at $13.50. Online health products retailers VicaCost.com (VITC) opened right at its pricing level of $12.
- In currencies, the greenback has managed to recover losses against European currencies and most of its losses against the yen. Initially the dollar was softer as dealers speculated the Obama administration's dollar policy might mirror BoE Governor King's position (that a weaker currency could aid the economy). EUR/USD retested the 1.48 handle, but then retreated toward the 1.4700 handle. The Federal Reserve and other major central banks extended most USD liquidity operation through Jan 2010. The central banks did note some scaling back on such programs, as improvements in financial markets have reduced demand for this type of credit. Sterling continued its weak tone and sank further against the major pairs. GBP/USD tested below the 1.6070 level while EUR/GBP touched the 0.9150 level.
- The G20 summit begins later today and dealers are noting that EUR/CHF (whose price action has mirrored the global equity rebound from last March) is testing the 200-day moving average at 1.5097 and has been unable to sustain any rallies from SNB verbal/stealth intervention.
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."
Actionable trading levels delivered to YOUR charts in real-time.
Tue 19 June 2018 A 12:30 US- House Permits/Starts Wed 20 June 2018 A 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude Thu 21 June 2018 AA 11:00 GB- Bank of England Decision A 12:30 US- Weekly Jobless Fri 22 June 2018 AFlash PMIs
John M. Bland, MBA co-founding Partner, Global-View.com
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.
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.
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.