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Wednesday October 21, 2009 - 12:30:33 GMT
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U.S. Equity Markets Lower as Traders Await More Earnings Reports

U.S. equity futures markets are trading lower as traders await key earnings reports from Well Fargo Bank and Morgan Stanley.  Investors fear that these two banks will show losses from consumer and business loans like JP Morgan, Citigroup and Bank of America.  Investors want to see improvements in earnings as well as stability in the bank balance sheets.

 

Treasury futures are called a slightly lower this morning.  Yesterday’s weaker than expected U.S. housing and PPI reports showed that the U.S. economy was still sluggish.  This led to a sell-off in the equity markets and greater demand for lower yielding assets. 

 

December Treasury Bond and Treasury Note traders also reacted to comments from San Francisco Federal Reserve President Janet Yellen.  She stated that the Fed was not likely to tighten its monetary policy during short run.  In addition, she said the Fed has not decided how to drain excess liquidity from the financial system. 

 

The U.S. Dollar is trading mixed against most major currencies this morning ahead of the New York session opening.  Traders will be taking early cues from the equity markets as earnings continue to dominate the news.  Later during the trading session, the markets are likely to react to the release of the Fed’s Beige Book.

 

December Gold is trading lower today based on the weaker Dollar.  Yesterday’s failed rally could be an indication of lower prices to follow.  A break through $1043.00 is likely to trigger an acceleration to a major 50% price at $1028.80.

 

Look for lower crude oil prices today.  Late yesterday the American Petroleum Institute reported higher than expected ending stocks.  In addition, yesterday’s technically based closing price reversal top is likely to weigh on the trade today.  The recent rally showed that this market has divorced itself from the basic fundamentals and instead is being driven by speculation, higher equity prices and the lower Dollar.  Yesterday’s weak U.S. economic data has forced traders to once again look at the short-term fundamentals.  These still indicate sluggish demand and excessive supply.  Look for today’s Energy Information Administration report to set the tone for the day.

 

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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."



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Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

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  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


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  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




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