User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday January 7, 2010 - 16:42:55 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update (Trade the News)

Thursday, January 07, 2010 11:19:25 AM

 US Market Update

Dow +5 S&P +0.5 NASDAQ -6

DATA ***
- (CL) Chile Dec Trade Balance: $1.6B v $1.5Be
- (UK) BOE Interest Rate Decision: Held interest rates steady at 0.50% and maintained Asset Purchase Target at £200B; as expected
- (US) Initial Jobless Claims: 435K v 440Ke; Continuing Claims: 4.802M v 4.98Me
- (CA) Canada Dec Ivey Purchasing Managers Index: 48.4 v 52.0e
- (MX) Mexico Dec Consumer Prices M/M: 0.4% v 0.5%e; Y/Y: 3.6% v 3.7%e; CPI Core M/M: 0.5% v 0.5%e
- (US) Weekly Natural Gas Inventories: -153 bcf v -150 to -155 bcf estimated range

- Weekly jobless claim figures did not stray far from expectations, but continue to hold onto improving trends only heightening anticipation for tomorrow's December non-farm payrolls data.
US indices fell a bit before the open and continued their slide in the first 30 minutes of trading, before bouncing back above opening levels. A laggard today has been technology stocks led by semis, while financial and homebuilding names have outperformed. Legg Mason's Bill Miller bettered Blackrock honco Bob Doll's bullish call on US equities from yesterday, predicting that US markets could rise 20% in 2010 given they are underestimating the speed of US recovery. "The fall in industrial output has far exceeded the drop in demand, the shortfall having been made up from inventories," said Miller, who also said US 2010 GDP could go as high as 8%. Note that selected bank stocks have held up well in early trading on this rhetoric. Front month crude is more or less flat on the day, remaining just above the $83 handle. Copper is off the one-year highs seen during yesterday's session, trading around $3.40. US Treasury prices opened lower but have since pared losses, particularly at the long end. The 10-year yield has drifted back towards 3.8% after ticking above 3.85%.

- Gamestop fell nearly 20% in the first hour of trade after cutting its Q4 and full-year guidance and slashing its same-store sales outlook. The firm noted that hardware sales declined 8% due to recent console price cuts and a decline in unit sales on a year-over-year basis. Game makers
TTWO, ATVI and ERTS are down a few percent a piece on the news. A raft of mid and small cap names offered pre-earnings season guidance as well.

- Lennar's very strong Q4 earnings report is pulling the entire homebuilder sector higher this morning. Lennar was well ahead of revenue expectations, while earnings benefitted strongly from various one-time tax items, and gross margins were up somewhat on a sequential basis. The company's CEO noted that continued stabilization in housing is helping the business. Shares of LEN are up nearly 10%, with gains of 7-4% among other major homebuilders. Shaw Group beat top- and bottom-line expectations, with SHAW up 10%. Apparel name Christopher & Banks is down 12% after missing on earnings and reporting dismal same-store sales.

- December same-store sales showed a big reversal from November's disappointing comps, with more than a few positive surprises. Mid- and high-end department store names showed strong improvement over November, with most major names beating analysts' projects, a few by very wide margins. Saks was +9.9% v +2.8%e. Among apparel names American Eagle, Aeropostale, Children's Place and Zumiez crushed analysts' expectations. The latter two firms demonstrated surprising improvements, with comps that moved into the black and exceeded targets and (after months of negative disappointments). Discount apparel name TJX reported double the expected gain in comps. The Limited slipped back into negative same-store sales, well off the firm's moderately positive November showing. No improvement was seen at industry laggards Abercrombie & Fitch or Hot Topic. Broadlines Costco and Target were a bit ahead of expectations, while BJs barely missed the Street's estimates. But despite all the good news, gains among retail stocks were subdued in premarket trading, and many names that opened in the black were in negative territory within the first 30 minutes of trade as markets turn over. TJX is an exception, with the stock still up 4% in mid morning trade. S
HLD is up 14% on much improved quarterly and yearly earning guidance.

- In currencies, the greenback consolidated earlier gains during the
New York morning. Vague rumors circulated that S&P might raise Turkey's sovereign ratings, prompting some position to square ahead of the European close. Traders continue to sharpen their focus on US non-farm payrolls, with some betting the index can muster its first positive reading in two years. The dollar is near key technical levels versus the major pairs and could be poised for some additional momentum if the timeline of the Fed exit measures becomes clearer.



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

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 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