*** ECONOMIC DATA *** - (BE) Belgium Nov Unemployment Rate: 8.1 v 8.1% prior - (CA) Canada Dec Net Change in Employment: -2.6K v 20.0Ke; Unemployment Rate: 8.5% v 8.5%e - (US) Dec Change in Nonfarm Payrolls: -84K v 0Ke (flat). Prior revised higher from -11K to +4K for the FIRST positive reading since Dec 2007; - (US) Dec Change in Manufacturing Payrolls: -27K v -35Ke - (US) Dec Unemployment Rare: 10.0% v 10.0%e - (US) Dec Average Hourly earnings M/M: 0.2 v 0.2%e; Average Weekly Hours: 33.2 v 33.2e - (US) Nov Wholesale Inventories: 1.5% v -0.3%e - (MX) Mexico Dec Consumer Confidence: 80.1 v 79.5e
- US equities are reacting relatively calmly to the disappointing December unemployment data and non-farm payrolls report. All three major indices took a dip before and after the opening bell, although the DJIA and S&P500 are off their worst levels after the November wholesale inventories data hit its highest reading since October 2004. The Nasdaq has climbed right back into the black. In the wake of the data, PIMCO's Bill Gross noted that he is worried about the Fed's exit strategy and does not believe US economy is ready for the Fed's exit from policy. The dollar weakened following the report and bonds were bid up. ront-month crude continues more or less unchanged from levels seen all week, just below the $83 handle. Treasury yields slipped following the jobs report pushing the benchmark spread back out towards all time highs. But pretty quickly the bond buyers dispersed and long end yields are back up on the day. The performance at the short end has been better as expectations for future rate hikes have deflated somewhat. Heading into the announcement the Aug fed fund futures contract suggested there was better than an 80% chance the Fed would start hiking this summer, that probability is closer to 50% currently.
- Private education firm Apollo Group's Q1 earnings were largely in line with expectations, although on the conference call executives warned that its acquisition of BPP will add to losses in its Q2 and Q4 and disclosed that its University of Phoenix subsidiary may be required to post a $125M letter of credit by the end of the month if the Department of Education demands return of unearned Title IV funding. APOL was down as much as 8% at the open, although it has regained a few points in early trading; competitors DV and ESI are down a hair in sympathy. Metals recycling firm Schnitzer Steel is up around 6% after crushing earnings estimates and offering an upbeat outlook for the industry, noting that ferrous sales volumes are expected to increase 40-50% in the current quarter. US Steel is up 4% on the news, with CMC and NUE up a few percent as well.
- Earnings season opens next week with Alcoa's post-market report on Monday afternoon. Another big round of mid and small cap preannouncements have been on the wires today, plus a big call from UPS. The shipper raised its Q4 guidance on better-than-expected results and also said it would lay off 1,800 management positions. UPS was up as much as 6% after the open, but has come off these levels; FDX peaked at +2%. Rogers Corp is off more than 13% after guiding well below expectations for FY10.
- European wind power names are up on the session after the UK announced nine new wind farm contracts with a massive total generation potential of 32.2GW. The projects designed to get the UK up to speed with its EU commitments regarding environmental targets, aiming to provide of the UK's electrical power needs by 2020. In other renewable news, Solarfun Power is up 4% on reports the firm plans to expand capacity by about 25-30% in the first half of 2010.
- FX dealers have been saying that US yields would set the tone for the start of the year based on the results of this morning's non-farm payrolls. The weak employment data helped turn initial dollar momentum around during the New York session and prevented the greenback from breaking significant technical levels against the euro and yen, while the two-year yield slumped to test 0.95%.
- EUR/USD approached its 200-day moving avg in pair near 1.4850 ahead of the data (an average was last tested back in late Dec when the EUR/USD pair was trading at 1.4200. The Dec low in the pair was 1.4215 on Dec 22nd). The 200-day moving average last breeched back in early May 2008 at the 1.3460 level. Dealers were noting that a break of the level might provide enough momentum to spark a retest the mid June pivot point around 1.38. USD/JPY moved off earlier four-month highs of 93.67 to test below 92.30 in the aftermath of the job data. The dollar was off its worst level as the morning wore on, with many believing it would still be capable of breaking key technical levels as risk aversion on the global implications of a sluggish US recovery weighed upon key trading partners.
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.
Tue 19 June 2018 A 12:30 US- House Permits/Starts Wed 20 June 2018 A 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude Thu 21 June 2018 AA 11:00 GB- Bank of England Decision A 12:30 US- Weekly Jobless Fri 22 June 2018 AFlash PMIs
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.