Dow -31 S&P -2.2 NASDAQ -11 - The reduction of US Q3 GDP (to +2.8% from +3.5) in the second reading of the figure was widely expected, but US stock markets remain under some pressure after the NY open nevertheless. Weakness in Asia led to a lower open for European equities, and it has been an uphill battle for stocks ever since. The November Consumer Confidence number was better than expected, with the data adding a positive note to an otherwise dreary session. Front-month crude is down at the bottom of its recent range yet again, trading just above $76. Gold, however, remains in positive territory, trading below recent highs around $1,166. Treasury prices are little changed ahead of the 5-year note auction.
- Commentators are dwelling on a report from S&P on global banks this morning. S&P analysts believe capital remains a negative to neutral factor for majority of global banks, and that every bank in Japan, US, Germany, Spain and Italy included in its list of 45 global lenders fails the 8% safety level under the agency's risk-adjusted capital (RAC) ratio; average estimated RAC ratio for large international banks was 6.7% as of June 2009. The S&P report believes the safest banks include HSBC, Dexia, ING, Nordea, Standard Chartered and Barclays, while Japanese banks scored the worst because of their reliance on hybrids and exposures to the stock market. US banks look healthy in terms of leverage, but look less sound when this is adjusted for risk. The FDIC was also out with its Q3 troubled bank list, noting that 552 institutions are on the list, the highest amount since 1993. The FDIC said the balance in its deposit insurance fund turned negative for the first time since 1992.
- Hewlett-Packard reported Q4 results that were firmly in line with consensus estimates and reaffirmed its 2010 outlook. Executives talked about the 3Com acquisition on the conference call, noting that the buy would help sustain growth in the critical Chinese market. Brocade beat earnings expectations slightly and reaffirmed its 2010 view, and spent the conference call reassuring analysts that the firm would be able to survive and thrive in the face of intensifying competition in the network space from HP's and Oracle's recent acquisitions. HPQ is down 2% or so while BRCD is down 8%.
- A broad selection of retailers has reported third quarter results since the close yesterday. In the apparel space, American Eagle managed to exceed much diminished bottom-line expectations, while shoe retailer DSW crushed expectations, reported very strong comp sales and guided higher for 2009. AEO is up 6% and DSW is up 5%. Losses at Barnes & Noble were in line with expectations, while Borders' loss was significantly steeper than estimates and revenue missed. BKS is -5% and BGP is -9%. Discounter Dollar Tree had strong earnings, while competitor Fred's was in line and cut its full-year view. DLTR is up nearly 5% while FRED is down 3%.
- In currency trading, different centers seemed to be operating on different agendas as the focus and price action varied throughout the day. The dollar was softer against the majors compared to levels just prior to the New York morning as better European data and BoE speak prompted some risk appetite ahead of the Preliminary GDP data from the US. However, the expected 2.8% annual rate in Q3 did reflect some cracks in the consumer spending component, reigniting some risk aversion. The USD and JPY maintained a firmer tone against the European and commodity-related pairs as the New York session progressed. The USD direction appeared to be driven by the European crosses as EUR/JPY cross became the market focus and the 200-day mvg avg at 132.25. EUR/USD was around 1.4940 in mid morning trade, while EUR/JPY tested 132.25. USD/JPY held above the pivotal support geared at 88.00.
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
Potential Trading Opportunities
POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
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.