- Better-than-expected earnings from Alcoa, encouraging Sep same-store sales figures and improving weekly jobs data are all helping equity indices rally. With earnings season now under way, commentators are waiting to see whether corporate America can follow up last quarter's earnings gains with revenue growth. Weekly initial jobless claims came in lower than expected, sinking to their smallest figure since January, while continuing claims fell very close to the 5M handle. Commentators continue to warn that the continuing jobs figures are being impacted by workers exhausting unemployment payments. Front-month crude is up nearly $2, to trade around $71.50. Treasury prices remain stubbornly firm with the long end outperforming heading into this afternoon's 30-year reopening which has sent the yield below 4%.
- Alcoa managed to rack up a profit (ex items) in its Q3, crushing analysts' expectations for another loss. Executives were upbeat about the quarter, noting that they are seeing signs that Alcoa's markets are stabilizing and consumption is set to grow in the second half of the year. Nevertheless, revenue was merely in line and better earnings beat expectations due to cost and expense reductions. PepsiCo was in line with the Street in its Q3 report, and reaffirmed its 2009 guidance. Ominously, PepsiCo's CEO warned that he expects an "age of thrift" has descended on markets and will last through 2010, echoing similar comments from Wal-Mart's chairman last week. Marriott came in slightly ahead of estimates, thanks to improvements in revenue per available room (REVPAR), which the company said should improve further next quarter.
- Sales data out this morning is showing a big turnaround for retailers in Septermber, fueling hopes for the holiday season. Comps from apparel names The Limited (+1% v -3%e), American Eagle (flat v -4%e) and TJX (+7% v +4%e) were much higher than expected. Teen mall chain Aeropostale held up its excellent comps for yet another month, while higher end competitor Abercrombie saw another month of dismal negative comps. Shares of AEO and ANF are up 6% or so, while LTD and TJX are around even. Costco pulled its same-store sales numbers out of negative territory for the first time since last fall, while Target and BJs saw incremental progress towards positive comps, but are still in the red. COST and TGT are around even, while BJ is down 4%. Department stores did universally better than expected, with Nordstrom and Dillards trouncing estimates. Despite this, y/y sales comps at nearly all the leading department stores remain in the red. Kohls is the big exception, with the name beating estimates by a wide margin (5.5% v 0.1%e).
- In currencies, the greenback composed itself in New York trading after rising risk appetite in the Asian session and early European morning put it on the defensive. Both the BoE and ECB maintained their interest rates at current levels, in line with expectations. EUR/USD initially maintained a steady tone around the 1.4770 area after Trichet reiterated yet again his steady line that interest rates are appropriate, adding that the Euro Zone labor market might deteriorate less than originally expected. Dealers were especially keen to see whether Trichet would fine-tune his currency views from before the G7 summit last week. The market seemed disappointed with his tepid remarks, including boilerplate comments that excessive FX volatility is not wanted. Trichet also welcomed the recent strong dollar statements from US officials, calling them "extremely important," and warned that he would never comment on FX intervention, pledging to act rather than talk on the topic.
- EUD/USD briefly tested 1.48 before technical exhaustion seemed to envelop the upward momentum in commodities and currencies. EUR/USD tested the 1.4730 level as the NY morning wore on but holding onto small gains established from the Asian open. Commodities retreated from their earlier highs in sympathy with the dollar's slight improvement. The 88 level in USD/JPY continues to be on dealers' radar with earlier chatter circulating that the Japanese Post Office was bidding for dollars ahead of the figure. There could be some significant USD sell stops if that level is breeched and there is no sign of Kampo.
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 17 July 2018 AA 08:30 GB- Employment A 13:15 US- Industrial Production AA 14:00 US-Powell Testimony Wed 18 July 2018 AA 08:30 GB- CPI A 12:30 US- Housing Starts/Permits AA 14:00 US-Powell Testimony Thu 19 July 2018 AA 1:30 AU- Employment AA 08:30 GB- Retail Sales A 14:30 US- EIA Crude A 12:30 US- Weekly Jobless Fri 20 Jun 2018 A 12:30 CA- CPI/Retail Sales
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.