***Economic data*** - (CZ) Czech Central Bank leaves the Repo Rate unchanged at 0.75%; as expected - (US) MBA Mortgage Applications w/e Jun 18th: -5.9% v 17.7% prior - (BR) Brazil Jun FGV Consumer Confidence: 118.5 v 116.1 prior - (NO) Norway Central Bank (Norges) left Deposit rate unchanged at 2.00%; As expected - (CA) Canada Apr Retail Sales M/M: -2.0% v -0.4%e; Ex Autos M/M: -1.2% v 0.0%e - (BE) Belgium Jun Business Confidence: -7.7 v -5.0e - (BR) Brazil May Total Outstanding Loans (BRL): v 1.47T prior; Private Bank Lending: v 855M prior - (MX) Mexico May Preliminary Trade Balance: $178,8M v $100.0Me - (US) May New Home Sales: 300K v 410Ke - (US) DOE weekly energy inventories: Crude: +2.0M v -1Me; Gasoline: -762K v +250Ke; Distillate: +297K v +1.4Me; Utilization: 89.4% v 88.2%e
- After a rough finish to yesterday's session, US equity markets looked to stabilize early on. Stocks were shrugging off renewed sovereign rumors a downgrade out of Europe to open flat to higher, but early in the session the Bears regained control after a soft US May new home sales report buoyed double dippers. Sales plunged more than 30% m/m, weighed down by the expiration of the home buyer tax credit while median prices fell to a fresh 7 year low. Stock declines are modest thus far, but money is flowing to the safe haven that is the US Treasury market. The US 10-year benchmark yield is nearing 8-month lows onces again at 3.10%. Commodity prices are giving way as well led by July crude down more than $2 to trade with a $75 handle. August gold is near its lowest level in a week back below $1230.
- Shares of Carmax have popped after strong quarterly results. Top and bottom line numbers handily beat consensus estimates while gross profits were up 22% y/y. The tech sector has seen shares of Red Hat and Jabil Circuit both advance following results. Medtronic is down 2.25% after reiterating full year guidance but noting currency translation costs would cut into their next quarter's eps.
- Risk aversion seemed destined to find an excuse during the NY morning in a wild rumor-filled session. The AUD was initially centered stage on reports that the Australia PM Rudd was expected to resign following a leadership challenge. The PM did confirm a challenge to his leadership but felt capable of the vote set for Thursday (Jun 24th). The USD seemed to reverse earlier weakness against the Euro despite comments from German VDMA that the current level of EUR/USD was satisfactory and did not favor a weak Euro. However, The Euro began gathering negative momentum on renewed chatter of a possible rating agency was prepared to take sovereign action against France with today's rumor suggesting that Fitch would lower its outlook on France to "Watch negative' from "Stable". The May US New Homes sales plunged to a record low following the expiration of a tax incentive and sent the USD and JPY to their best levels of the session. The CAD currency broadly weaker following weaker-than-expected retail sales data and sell-off in commodities. USD/CAD tested above 1.0450 area after stating the Asian session below the 1.03 handle.
***Looking Ahead*** - 11:30 Investor George Soros delivers lecture in Germany - 12:30 (GE) German Fin Min Schaeuble - 13:00 (US) Treasury to sell $38B in 5-year Notes - 14:15 (US) FOMC Interest Rate Decisions: Expected to maintain interest rates at 0.25%
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
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.