User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday July 13, 2010 - 15:17:49 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update (Trade the News)

Tuesday, July 13, 2010 11:09:41 AM

 US Market Update

Dow +129 S&P +12.3 NASDAQ +23

***Economic Data****
- (US) Jun NFIB Small Business Optimism: 89.0 v 92.2 prior
- (US) ICSC/GS weekly chain store sales w/e Jul 10th: -1.5% w/w; 3.2% y/y
- (PD) Poland Jun
CPI M/M: 0.3% v 0.1%e; Y/Y: 2.3% v 2.1%e
- (PD) Poland May Current Account: -€268M v -€300Me; Trade Balance: -€455M v -€297Me
- (BR) Brazil May Retail Sales M/M: 1.4% v 1.8%e; Y/Y: 10.2% v 10.7%e
- (US) May Trade Balance: -$42.3B v -$39.0Be v -$40.3B prior
- (CA) Canada May Int'l Merchandise Trade: -C$500M v C$0.0e (flat)
- (US) Redbook Retail Sales w/e July 10th: +3.1% y/y; MTD: -0.4% v Jun
- (US) July IBD/TIPP Economic Optimism: 44.7 v 45.5e
- (MX) Mexico Apr Gross Fixed Investment: 0.5% v 1.8%e

- Strong quarterly results from Alcoa and
CSX are helping US equities advance this morning and raising hopes for a positive June quarter earnings season. The Commerce Department reported that the US trade deficit grew nearly 5% m/m in May to its widest levels since late 2008. The deficit with China rose to $22.3B, making for the largest imbalance since last October and a 15.4% jump from the April deficit. Crude is at its highs of the session, up nearly two bucks with the front month contract trading around the $77 handle. Note that yesterday the Obama Administration announced new deepwater drilling moratorium, adjusting the requirements to steer around the hold put on its earlier moratorium by a US appeals court. Metals are also rallying led by gold and silver futures each up at session highs gaining more than 1% and 2% respectively. Treasury prices remain under a bit of pressure sending the US 10-year yield up to towards two week highs at 3.09%. Optimism surrounding the upcoming earnings season and receding concern surrounding the euro-zone debt situation is buoying flows out of ultra safe Treasuries ahead of this afternoon's $21B 10-year reopening.

- Alcoa's Q2 results were firmly in line with expectations, although the firm's outlook for Q3 and the full year is providing confidence in early trading this morning. The company raised its guidance for global aluminum consumption to +12% y/y, up from +10% prior, and said that its end markets remain strong. Shares of AA were up as much as 4% at the open, but are now down to +1%. CSX's earnings for Q2 were well ahead of expectations, and on the conference call executives said the firm's volume and revenue outlook for next quarter is favorable and said the economic recovery would continue in the second half of the year.
CSX is down 1%. Chevron is up more than 1% after telling investors that its Q2 results would beat expectations, thanks to improved refining margins, favorable FX impact and lower commodity prices; XOM also rose on the news, although the name is back to unchanged mid morning.

- In other earnings, Indian consulting firm Infosys met expectations in its Q1 report and slightly increased its full year revenue outlook. Bellwether semi name Novellus beat top- and bottom-line expectations, and said that growth in
China consumerism will continue to support a multi-year recovery in the semiconductor equipment industry. Construction materials wholesaler Fastenal modestly exceeded consensus expectations. Healthcare benefits administrator Amedisys offered dim guidance for its Q2, warning that it would miss expectations significantly due to one-time costs. California Pizza Kitchen is up 4% after boosting its view on its Q2 results.

- Risk appetite continued to gain momentum in the
New York session, with the greenback at session lows against the major European pairs. Spreads on European peripheral debt continued to narrow following the Greek 26-week auction earlier today. Dealers noted that the current situation is giving some players "free money," as certain investors lend to Greece for six months and borrow from the ECB at a fixed 1% rate (the consensus sees little risk of a Greek default in next six months). EUR/USD is firmly above the 1.2640 level with dealers eyeing last week's high of 1.2722 as key resistance. GBP also aided by hawkish remarks from BoE member Sentence, who insisted that interest rates need to gradually rise.

***Looking Ahead***
- 13:00 (US) US Treasury's $21B 10-yr auction
- 14:00 (US) Jun Monthly Budget Statement:-$69.4Be v -$94.3B prior
- 16:30 (US) API Crude Oil/Gasoline/Distillate Inventories
- 17:00 (US) ABC Consumer Confidence w/e Jul 11th: no est v -42 prior



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