***Economic Data*** - (CA) Canada May Net Change in Employment: 67.3K v 15.0Ke; Unemployment Rate: 8.1% v 8.0%e ; Full Time Employment: 67.3K v 43.8K prior; Part time Employment: -42.5K v 64.8K prior - (US) May Change in Nonfarm Payrolls: 431K v 536Ke; Change in Private Payrolls: 41K v 180Ke ; Change in Manufacturing Payrolls: 29K v 33Ke - (US) May Unemployment Rate: 9.7% v 9.8%e - (US) May Avg Hourly earnings M/M: 0.3% v 0.1%e; Avg Weekly Hours: 34.2 v 34.1e - (CA) Canada Apr Building Permits M/M: 5.4% v -2.0%e - (RU) Russia May Consumer Prices M/M: 0.5% v 0.4%e; Y/Y: 6.0% v 5.8%e; CPI YTD: 4.0% v 3.9%e - (RU) Russia May CPI Core M/M: 0.1% v 0.3%e; Core CPI YTD: 1.8% v 1.9%e - 10:00 (CA) Canada May Ivey Purchasing Managers Index: 62.7 v 60.5e
- Hopes for more signs of economic recovery were dashed this morning by a disappointing May employment report. US equity indices opened down sharply in the wake of the jobs data, with a fresh wave of European sovereign debt jitters compounding the risk aversion. The Labor department reported that the US economy added 430K jobs in May, well less than the 536K expected - but the bulk of those jobs were government hiring, and the new private payrolls line in the report was totally underwhelming. Even President Obama conceded that many of the new jobs created in May were in fact temporary census positions. In Europe, edgy comments from the new government in Hungary (calling default a real possibility and saying the government will not implement austerity measures) and fresh rumors emanating out of the French banking industry sent the euro tumbling to fresh four-year lows around 1.2020 and helped break below long-standing resistance in EUR/CHF at 1.40. Treasury prices have surged after yields had been drifting higher over the last few sessions leading up to the jobs figures. The US 10-year yield is back below 3.25% after briefly testing 3.4% yesterday, while the 2-year is sub 0.75% again.
- After successfully cutting the riser pipe away from the well head in yesterday's session, BP engineers successfully attached the containment cap, or "top hat," to the well head this morning. Oil continues leaking from the well, however, and BP has stated that it will take up to two days in order to complete the capping operation. BP believes the containment cap may allow it to capture up to 90% of the hydrocarbons leaking from the well. On an investor update call this morning, BP said that future decisions on the dividend will be made by the board, and confirmed that it has spent over $1B in dealing with the spill so far. Ominously CEO Hayward warned that long-term costs of the disaster would be severe, and spread out over years. Shares of BP are down 3%. RIG and HAL are around even. Anadarko, which was hit hard earlier in the week, continues to recover, with APC up 4% in the early going.
- Goldman Sachs is among the few names in positive territory this morning, on chatter that the bank will announce a settlement deal with the SEC imminently. Keep in mind that Goldman has until the middle of June to respond to the SEC's charges. Second line retailers Quicksilver and Blyth are making notable moves this morning post earnings. Quicksilver crushed earnings expectations in its Q2 report yesterday. Shares of ZQK are up nearly 10%. Blyth slashed its FY11 earnings outlook, citing the impact of the rapidly tumbling euro, as well as weak US consumer spending. BTH is down nearly 18%. Microcap Krispy Kreme is also up 10%, after growing its earnings and offering optimistic commentary about its FY11.
- In FX trading inflammatory comments from Hungary sent the EUR/CHF cross plummeting to fresh life-time lows after the 1.40 handle gave away with no signs of any SNB currency intervention. The EUR/USD posted fresh four-year lows just above the 1.20 handle, where an option related barrier capped session losses.
***Looking Ahead*** - G20 Finance Ministers meet in South Korea
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 23 July 2018 A 14:00 US- Existing Homes Sales Tue 24 July 2018 AFlash PMIs Wed 25 July 2018 A 08:00 DE- IFO Survey A 14:00 US- New Homes Sales A 14:30 US- EIA Crude Thu 26 July 2018 AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless A 12:30 US- Durable Goods Fri 27 July 2018 AA 12:30 US- GDP A 14:00 US- Final 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.