- US equity indices rose in the premarket and continued gaining just after the opening bell this morning on the better initial claims numbers and strength in the financials on news BoA would repay TARP. But things have headed back to flat on the day after the ISM Non-Manufacturing Index missed expectations and sank below the key 50 level. Shares of BoA, which were up as much as +7% in the first 30 minutes of trade, are close to flat for the day mid morning. Fed Chairman Bernanke faces confirmation hearings before the Senate this morning, although so far he has largely reiterated his well-known positions. Front-month crude broke above the $77 handle earlier in the session, although it is around $76.50 in mid morning trade.
- GE and Comcast announced a final agreement over NBC Universal. Comcast will take a 51% stake in the business, while GE will retain 49%. As previously announced, GE will acquire Vivendi's 20% interest for $5.8B. Comcast will pay GE $6.5B in cash for the stake. The deal values NBC Universal at $30B. Note that Comcast also raised its quarterly dividend 40% this morning. CMCSA is up 7%, GE is up about 1%.
- In earnings, Toll Brothers reported a larger than expected quarterly loss, although revenue was well above consensus expectations. The company signed fewer new contracts in Q4 than in the prior quarter, and its backlog shrank. Shares of TOL are down 4.5%. Del Monte beat top- and bottom-line expectations and raised its 2010 earnings guidance slightly. DLM is up 6%.
- November same-store sales were broadly worse than expected, and for many firms performance in the month was worse than in October. Abercrombie & Fitch and Children's Place swung back to big declines after surprisingly good performance in October (PLCE-10%, ANF-5%). Ross Stores did better than expected and The Gap was in line. Warehouse rivals BJ's and Costco both missed expectations, although both improved on October's performance (BJ-5%, COST -2.5%). Department store names were notably behind expectations, with the exception of Kohl's and Nordstrom. KSS and JWN are in positive territory, most of the other leading department store names are deep in the red.
- The greenback managed to regain some composure in the New York session as choppy price action accompanied ECB commentary on its exit strategy. The dollar was initially firm after the ECB said it would maintain its full allotment of refis at least through April 2010. However, EUR/USD tested the upper parameter of the alleged binary option barrier at 1.5150 after the ECB noted it would scale back its emergency financing operations next year. ECB staff revised their GDP projections: they now see 2009 Euro Zone GDP -3.9% to 4.1% (-3.8% to -4.4% prior) and 2010 GDP +1.1% to +1.5% (-0.5% to +0.9% prior). The USD firmed up after the projections were disclosed; dealers noted that they expected the projections to be more bullish.
- USD/JPY regained a foothold above the 88 handle and tried to offset bearish technical factors. With the Japanese Foreign Minister in New York, dealers noted that a rumor was circulating that Japan might inform the Treasury they intend to sell $100B of their treasury holdings to pay for domestic programs. As per the latest TIC data, Japan's total holdings of US Treasuries was $751B, making it the second largest holder of US govt debt.
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.