User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday December 8, 2009 - 16:40:49 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update (Trade the News)

Tuesday, December 08, 2009 11:15:48 AM

 US Market Update


Dow -80 S&P -7.8 NASDAQ -11
- Markets sold off this morning on equity softness in
Asia and Europe, where weak data and another Japanese stimulus package spooked investors. The greenback strengthened after a Moody's report cast a shadow on the Aaa ratings of the US and the UK adding to investors jitters. Front-month NYMEX crude continues to slip lower, extending a now week-long losing streak. The contract is down a buck, below the $73 handle. Government bond prices have found bids on both sides of the Atlantic as investors move some money out of stocks. The US 10-year yield is back below 3.4% ahead of the first of three auctions this week which kicks off with 3-year coupons this afternoon.

- Meredith Whitney offered another round of dark prognostications on CNBC this morning. According to Whitney, underlying corporate earnings power will lag in the beginning of 2010 due to very weak consumer demand, which is being hampered by a lack of access to credit. Mortgage rates should rise meaningfully, said Whitney, who continues to expect spiking credit losses at banks. Recall that back in mid November she warned that banks still face $2.7T in credit line cuts. Wells Fargo's CEO said the bank wants to pay down TARP as soon as possible. The WSJ writes that state insurance regulators have approved $11B capital relief measures that allow more liberal accounting of certain taxes.

- Although earnings season is still a month off, pre announcements and profit warnings are picking up. FedEx increased its earnings guidance for its Q2 yesterday after the close, citing improved volumes, especially in overseas markets. FDX is up 2%. 3M reaffirmed its 2009 outlook and guided 2010 earnings largely in line with expectations. Note that 3M's revenue guidance was a bit above consensus. MMM is down 1.5%. Monsanto reaffirmed its 2010 earnings outlook for at least the fifth time, while its Q1 forecast was for a small loss (analysts expect breakeven results). MON is around unchanged. Semi name Xilinx guided its Q3 revenue well above consensus on broad-based strength across all its markets.

- In earnings, the largest supermarket chain in the
US, Kroger, missed earnings expectations and met revenue targets. The firm also cut its 2009 guidance. Executives warned that current conditions will extend at least through the first half of 2010. Tax specialist HR Block's quarterly loss was slightly smaller than expected. Spirits name Brown Forman beat top- and bottom-line expectations and raised its 2010 earnings forecast. AutoZone was largely in line with the Street's expectations.

- Green Mountain Coffee has outbid rival Peet's for Diedrich Coffee, after Peet's decided not to top GMCR's $35/shr cash bid.
Green Mountain has paid Peet's a $8M termination fee. Shares of PEET rose as much as 7% in the early going before trading off somewhat, while GMCR is up 5%. DDRX is down 1%. GMCR now has to settle regulators' anti-trust worries.

- In currency trading, sovereign debt concerns remain on the front burner, re-enforcing risk aversion sentiment that developed after Moody's warned the
US and UK might lose their Aaa ratings. As the New York session commenced, Fitch downgraded Greece's sovereign debt one notch to BBB+. The Greek finance minister replied that Greece was committed to reducing deficit and dismissed the Fitch downgrade as lacking in credibility. The dollar managed to shrug off sovereign concerns and firmed against European counterparts; given that German October industrial production unexpectedly slumped, reflecting the ECB's repeated warnings about a bumpy economic recovery. EUR-USD tripped sell-stops at 1.4750 after an alleged option barrier failed to hold. Sterling was off its worst levels against the major pairs. GBP/USD tested its quarterly pivot point of 1.6250 and tried to regain a foothold over the 1.63 handle after the Nov NIESR GDP estimate registered its first positive reading since March 2008. The yen benefited from the initial risk aversion sentiment but USD/JPY holding above the pivotal 88.00 level.

- The Bank of Canada maintained its target for the overnight rate at 0.25% (as expected) and retained its commitment to keep the target overnight rate at 0.25% until the end of Q2 2010. The BOC also reiterated that a strong CAD currency could act as a significant further drag on its growth.


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

Forex Research

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 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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

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 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.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

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.

Request a TRIAL of Max's Forex Service.


Retail Forex Brokerage Changing!

Are you 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.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map

Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

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.

Forex News

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

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

Forex Brokers

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 Trading

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.

FX Trading

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.

Forex Blog 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105