User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday February 4, 2010 - 16:38:32 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update (Trade the News)

Thursday, February 04, 2010 11:33:27 AM

 US Market Update

Dow -185 S&P -21.8 NASDAQ -41.5

***Economic Data***
- (UK) BOE maintained both its interest rate decision: and Asset purchase targets at current levels (0.50% and £200B respectively); as expected
- (CZ) Czech Central Bank Interest Rate maintained the Repo Rate at 1.00%; as expected
- (BR) Brazil Jan Vehicle sales: 213.3K v 293.0K prior; Vehicle Production: 243.4K v 251.5K prior
- (EU) ECB maintained its main Refi rate at 1.00%; as expected
- (RU) Russia Jan Consumer Prices M/M: 1.6% v 2.0%e; Y/Y: 8.0% v 8.4%e; CPI YTD: 1.6% v 2.0%e
- (RU) Russia Jan Core
CPI M/M: 0.5% v 0.9%e; Core CPI YTD: 0.5% v 0.9%e
- (RU) Russia Gold & Forex Reserves w/e Jan 29th $437.1B v $435.6B prior
- (CA) Canada Dec Building Permits M/M: 2.4% v 2.5%e
- (US) Q4 Preliminary Nonfarm Productivity: 6.2% v 6.5%e; Unit Labor Costs: -4.4% v -3.5%e
- (US) Initial Jobless Claims: 480K v 455Ke; Continuing Claims: 4.602M v 4.581Me
- (US) Jan ICSC Chain Store Sales Y/Y: 3.0% v 2.8% prior
- (CA) Canada Jan Ivey Purchasing managers Index: 50.8 v 53.0e
- (US) Dec Factory Orders: 1.0% v 0.5%e
- (MX) Mexico Jan Consumer Confidence: 82.1 v 79.8e
- (US) EIA Natural Gas Inventories: -115BCF v -120 TO -125 bcf est range

- Things are falling apart this morning as investors flee all asset classes for safety in Treasuries, the Dollar and Japanese Yen.
Shanghai and Tokyo closed in the red, while leading indices in both Europe and US are dropping sharply. Concerns over the weak links in the Euro Zone continue to fuel risk aversion, as investors add jitters over sovereign issues in Spain and Portugal to well-entrenched fears about Greece. In the currency market there has been vague chatter of Europe developing a "Plan B" to reckon with peripheral sovereign issues. Front-month crude is down more than $2.50 to trade around $74.40, gold is down more than 4% to levels not seen since early November, front month copper is now below $2.90 brining the 200-eay EMA back into view for first time since last summer. Unsurprisingly US Treasury markets are bid. The long bond is higher by more than a point pushing the yield back towards 4.55%. The curve is a bit steeper pushing above 280 basis points heading into tomorrow's jobs report.

- Cisco topped earnings and revenue estimates in its Q2, while revenue guidance for its Q3 was ahead of target. CEO Chambers was upbeat, noting that the firm's results clearly indicate that the
US is entering "the second phase of the economic recovery." Broadcom disclosed a quarterly profit on a GAAP basis and was largely in line on the top line, and also said it would resume paying dividends. Both CSCO and BRCM are still trading in positive territory. Novellus Systems beat estimates slightly and offered upbeat comments on the semi industry, citing benefits from Windows 7 adoption and strength in China. NVLS is down more than 5%.

- Credit card names Visa and MasterCard both reported quarterly results. Visa did slightly better than expected and reaffirmed its 2010 forecast, while MasterCard was in line with expectations. Visa said it is seeing better than expected international and cross-border volumes, but warned it is not clear if this represents a rebound or simply pent-up demand. Shares of MA are down 7%, while V is up 2%. Moody's beat top- and bottom-line estimates, although its 2010 outlook was soft. MCO is down 4%.

- Steel Dynamics was the last major
US steel maker to offer results for the December quarter. STLD missed earnings targets, while also offering upbeat comments, noting that demand remains robust and signs of economic recovery are everywhere. Big ag name Bunge reported a fourth-quarter loss on Thursday as its fertilizer segment continued to lose money and agribusiness results were weaker than expected. Specialty chemicals manufacturer Lubrizol missed on earnings in a big way, although its FY10 forecast was stronger than expected. STLD is down 5%, BG is off 4% and LZ is up 1%.

- In consumer-oriented names, tobacco firm Reynolds American's quarterly results were a bit soft, and warned that 2010 would be a challenging year. Fast-food firms Yum! Brands and Burger King both offered better-than-expected quarterly results, while warning that the full year would remain tough. Burger King warned that next quarter's comps would be soft due to continued adverse macroeconomic conditions and continuing high unemployment levels. YUM is down nearly 4%, while BKC is in the black. Kellogg missed on earnings and full-year guidance was below par. K is down 4%.

- January same-store sales were broadly positive, with most retailers beating consensus estimates. The biggest disappointment was Target, which slipped back into negative comps in January after a strong December. Shares of
TGT are down 4%. Both BJ and COST were well ahead of expectations. Apparel names were notably strong. ANF was a big reversal, with a +9% comp versus expectations for -8%. PLCE and AEO also crushed expectations. Shares of ANF and PLCE are both up 4%. HOTT and recently strong name BKE were both in the red. Shares of LTD are down 8% despite beating SSS estimates handily. Top-shelf department stores JWN and SKS continue to outperform.

- The greenback has maintained a firm footing against the European pairs, with USD at fresh 7-months lows against the Euro below the 1.38 handle. The ECB reiterated that interest rates were appropriate and that price pressures were expected to remain subdued, with a bumpy economic recovery could. Trichet pointed out that M3 and credit growth was likely to remain weak for some time to come. When questioned about the Greek situation, Trichet said the ECB approves of the Greek goal of a deficit to GDP ratio below 3% by 2012. Trichet also reaffirmed that he "appreciates" the
US stance of support for strong USD ahead of the G7 summit this week.

- Currency market has numerous pairs approaching and or testing key technical levels from 2009. EUR/JPY has busted 124.30 (April lows) and washed out another 100 pips to trade as low as 1.2310, EUR/USD is not far from 1.3740, which provided the upside technical momentum last summer. GBP/USD is approaching the 1.5750 quarterly pivot point. The break in the EUR/JPY cross seems to have attracted the most interest among dealing desks given the substantial follow-through price action, with some mentioning 115 level as a possibility.



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 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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