- Equity indices are racking up substantial losses in early trading thanks to negative data for a second consecutive morning. This time around a miss in the ISM manufacturing data (52.6 v 54e) is raising risk aversion, aiding Treasury prices along with the Greenback. ISM Official Ore offered a dim view, noting that ISM ,embers have yet to be convinced that the economy has turned and are still "somewhat negative" overall Note that yesterday's worse than expected Chicago PMI reading also spooked investors, although the leading indices managed to regain losses in midday trading. Today the strong August housing numbers are being ignored. Construction spending returned to growth in August, while the NAR's pending home sales showed their seventh consecutive month of growth, up sharply from July figures. The NAR's Chief Economist warned that not all contracts are turning into closed sales within an expected timeframe, although the rise in pending home sales certainly shows buyers are returning to the market. Fed Chairman Bernanke testified before the House Financial Service Committee, noting that the Fed should not be the only regulator of systemic risk. Also not that the IMF officially raised its 2010 world GDP view to 3.1% from 2.5% prior (in line with earlier speculation). Front month NYMEX crude popped above $70 this morning, but has come off prior highs in mid-morning trading. Government bond yields are testing some key levels to the downside on both sides of the Atlantic. !0-year Gilt yields are now below 3.5% while its US counterpart has seen the benchmark fall below 3.25%. The US long bond rate is now below 4% for the first time since this spring.
- Financials are leading the charge downwards this morning in the wake of news that Ken Lewis will step down as CEO of Bank of America at the end of the year. Speculation has been rife regarding which of the five potential replacements is in the lead. The WSJ's "Heard on the Street" column was cautious on JP Morgan's prospects amid the firm's ongoing management changes, but still predicted that earnings would likely beat expectations. In the longer run, declining volatility will cut JP Morgan's opportunities for outsized gains, according to the WSJ. The tier one banks are all down 1% or 2%, while Citi is down 3%.
- Constellation Brands managed to gain 5% in pre-market trading thanks to strong Q2 results and a reaffirmation of its 2009 forecast. Broader market declines have brought shares of STZ down to +2%. Testing equipment manufacturer Teradyne offered very strong guidance for its Q3 thanks to cost cutting and improving demand. Shares of TER are off their best levels, at +3%. In other equity news, Cisco bought Norweigian video conference technology firm Tandberg for almost $3B, continuing Cisco's big move into online video applications. Cisco Chief Chambers said he will continue to be a "very aggressive" in acquisition. And finally, in another piece of economic crisis fallout, Penske abandoned its quest to run Saturn Motors just as a final deal with GM was expected, as uncertainty deepened over Penske's ability to obtain long-term supplies of vehicles. Bank of America analysts were positive on the news, calling the cancellation a "headache avoided."
- In currencies, the greenback maintained its firm tone against the EUR and CHF pairs following initial comments from EU's Almunia before the European session. As the New York morning commenced, ECB Chief Trichet confirmed that FX was discussed today's EuroFin meeting while other European finance ministers complained about the effect on exports of a stronger euro. Dealers noted hourly support at 1.4530, a level that represented lows made earlier in the week, and chatter of a Far Eastern name previously bidding for euros. A move below 1.4530 opens the door for test of 1.4330, which represents the uptrend line support from the March low.
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.
Mon 10 Sep 2018 AA 08:30 GB- GDP, Trade, Output Tue 11 Sep 2018 AA 08:30 GB- Employment Decision A 09:00 DE- ZEW Survey Wed 12 Sep 2018 A 12:30 US- PPI A 14:30 US- EIA Crude A 18:00 US- Beige Book Thu 13 Sep 2018 A 1:30 AU- Employment AA 11:00 GB- Bank of England Decision AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless AA 12:30 US- CPI Fri 14 Sep 2018 A 08:30 GB- GDP AA 12:30 US- Retail Sales A 13:15 US- Industrial Production AA 14:00 US- prelim University of Michigan
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.