User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday June 16, 2010 - 15:43:51 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - US Market Update (Trade the News)

Wednesday, June 16, 2010 11:36:28 AM

 US Market Update

Dow -22 S&P -1.8 NASDAQ +1


***Economic data***
- (IS) Israel Q1 Preliminary
GDP Annualized: 3.6% v 3.3% prior
- (US) MBA Mortgage Applications w/e Jun 11th: +17.7% v -12.2% prior
- (BR) Brazil Jun FGV Inflation IGP-10 M/M: 1.3% v 1.5%e
- (BR) Brazil Apr Retail Sales M/M: -3.0% v -1.5%e; Y/Y: 9.1% v 10.1%e
- (PD) Poland Apr Current Account: -€424M v -€650Me; Trade Balance: -€ v -€410Me
- (US) May Producer Price Index M/M: -0.3% v -0.5%e; PPI Ex Food&Energy M/M: 0.2% v 0.1%e
- (US) May Housing Starts: 593K v 648Ke; Building Permits: 574K v 625Ke
- (US) May Industrial Production: 1.2% v 0.9%e; Capacity Utilization: 74.7% v 74.5%e
- (US) DOE Weekly energy inventories: Crude: +1.7M v -1.2Me; Gasoline: -630K v +500Ke; Distillate: +1.8M v +1Me; Utilization: 87.9% v 89.1%

- US equity indices opened lower this morning after two consecutive days of higher opens. Mixed economic data is providing both bulls and bears with ammunition. The May industrial production data was better than expected, and capacity utilization rose to its highest level since October 2008. However, the May housing starts fell more than expected, to a five-month low, confirming expectations that the first-time homebuyer tax credit expiration would have a significant impact on the industry. FedEx and Nokia weighed on equity sentiment early but prices are holding up fairly well led by gains in the financial and energy sectors. EUR/USD has broken above 1.23 after a flurry of rumors regarding negotiations toward an EU debt support plan for
Spain. After slipping down towards the $76 handle before the open, front month crude is headed back toward $77 and the unchanged mark though weekly DOE inventory data did producing some selling initially. Treasury prices have been giving back some early gains as equity markets have managed to hold onto most of the last two session's advances. The 10-year yield is moving back towards 2.3% after dipping below 3.25% earlier.

- Selected banking names gained slightly this morning (before dropping into the red) following news that Senator Lincoln confirmed yesterday evening that she would be "open to suggestions" on her bank derivatives business proposals. It appears likely that some form of
Lincoln's amendment requiring banks to spin off derivatives desks will make it into the final financial regulatory overhaul; looks like any "compromise" would involve extending the deadline by which banks would have to divest their derivative desks. Also note that GSEs Fannie Mae and Freddie Mac have finally delisted their shares from the NYSE, cancelling what had become a sort of casino table game for day traders.

- FedEx reported in-line Q4 earnings results this morning, with revenue a bit ahead of the Street's expectations. However, the firm's guidance for next quarter was well below par, while its initial look at FY11 was also soft. Executives did not dwell on the firm's weak guidance on the conference call, noting only that they expect a "very good year" in 2011. More guidance calls from major names are moving the market. US-listed ADRs of Nokia are down 10% this morning after cut its devices sales outlook for Q2 below its prior guidance. The firm cited a much sharper competitive environment, particularly at the high-end of the market, and shifts in product mix towards somewhat lower gross margin products. Scotts Miracle Grow trimmed its revenue outlook for the full year on tighter consumer demand, sending shares of SMG down 5%. Fast food name Sonic offered disappointing full-year earnings projections and a broadly negative SSS outlook for the second half of the year on weakening consumer conditions. On the positive side, PPG Industries guided above estimates for its Q2 earnings on strong volume growth, especially in emerging markets. Shares of
PPG opened up 4%, before dropping to 2%.

- Rumors that the EU was preparing some sort of large financing package for
Spain made the rounds early in the European session, prompting denials from a broad range of Spanish and European officials. Then just before the US open, a German press article stated that ECB Chief Trichet was demanding a clear commitment from EU government for aid to Spain in case its access to capital markets stumbles. EUR/USD has been hovering around the 1.23 area, within its recent retracement highs made earlier this week. USD/JPY locked in a 91 to 92 range.

***Looking Ahead***
- 11:35 (CA) Bank of Canada's Carney
- 12:00 (CL) Chile Central Bank Monetary Policy Report
- 13:15 ECB's Bini Smaghi speaks in NY
- 13:30 EU Socialists and Conservatives hold separate per-EU Summits
- 14:15 (US) Fed's Plosser speaks in NY
- 15:45 (UK) BOE's King speaks in London
** Reminder: EU Summit in Brussels on Jun 17th-18

 

 

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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

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.

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