User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday July 16, 2010 - 16:04:17 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update (Trade the News)

Friday, July 16, 2010 11:35:14 AM

 US Market Update

Dow -184 S&P -21.5 NASDAQ -44.7

***Economic Data***
- (BR) Brazil Jul FGV Inflation IGP-10 M/M: 0.1% v 0.3%e
- (PD) Poland Jun Avg Gross Wages M/M: 1.7% v 3.0%e; Y/Y: 3.5% v 5.0%e
- (PD) Poland Jun Employment M/M: 0.3% v 0.2%e; Y/Y: 1.1% v 1.0%e
- (US) Jun Consumer Price Index M/M: -0.1% v -0.1%e; Ex Food&Energy M/M: 0.2% v 0.1%e; CPI NSA: 217.965 v 218.298e
- (CA) Canada Jun Leading Indicator M/M: 1.0% v 0.7%e
- (US) May Net Long Term TIC Flows: $35.4B v $40.0Be; Total Net TIC Flows: $17.5 v $13.0B prior
- (US) Jul Preliminary University of Michigan: 66.5 v 74.0e
- (MX) Mexico Central Bank maintained the Overnight Rate at 4.50%; as expected

- Earnings from Bank of America and Citigroup pulled futures lower before the open this morning, as Q2 results from the banks disappointed investors. Problematic earnings reports from General Electric and Google are also weighing on markets. The preliminary July University of Michigan Confidence survey fell from June levels, missing expectations. EUR/USD punched through the key 1.30 level briefly in the wake of the poor earnings reports, but has reversed course on a sharp moves in USD/JPY below 87.00. Note that the positive sentiment hoped for from BP's successful effort to temporarily plug its leaking Macondo well and Goldman Sachs' SEC settlement has been clearly overshadowed by Q2 corporate results and more troubling data leading to fresh stock price lows late in the NY morning. August gold is near one-week lows, just above the $1,190 handle. Front-month crude is trading below $76, down 1%. Copper prices have hit fresh 2-week lows at $2.93. Treasury prices have seen bids pushing the 10-year note future out to an all time high for the Sep contract above 123. The 10-year benchmark yield is back towards 2.93% while the 30-year is below 3.95%.

- Investors are punishing Citigroup and Bank of America this morning, with shares of Citi down nearly 4% and BoA down more than 6%. Earnings at both firms beat expectations, while revenue totals missed consensus views. Analysts have been focusing in on the firms' earnings quality, with some noting that significant portions of earnings come from one-time items related to asset sales and upwards adjustments to certain assets under mark-to-market rules. At BoA, net charge offs and provisions for credit losses continue to decline, even as non-performing assets and allowances for loan losses hold steady or grow. Citi's credit quality increased slightly as well. BoA's CEO told CNBC that consumers continue to spend more, although this increase is slowing somewhat. Citi's CFO noted that all companies that offer credit cards in the
US are struggling with the recently-passed card act as well as the overall credit environment. Shares of Goldman Sachs rose more than 4% in the premarket following the firm's settlement of the Abacus case with the SEC, although Goldman is off its best levels mid morning. Apparently CEO BlankNote that shares of Charles Schwab are up nearly 6% after beating earnings targets.

- Like Citi and BoA, General Electric's earnings totals missed expectations. The firm noted that higher income and lower losses at GE Capital were particularly encouraging. On the conference call, executives said that GE would pull off single-digit order growth in the second half of 2010, which would represent the first growth in orders since the beginning of 2008. GE also said that the commercial real estate business remains a "tough spot" and it is expected to remain under pressure. Shares of GE are down 3%.

- Shares of Google are down a whopping 5% after the search giant missed earnings expectations by a hair and said that its paid clicks total fell on a sequential basis. The company's European business was a source of weakness, thanks to declines in the euro; around one-third of its revenue comes out of
Europe. Number two chipmaker AMD crushed earnings expectations and beat on revenue, but overall market weakness is hitting the firm's shares, with AMD down 2% or so.

- EUR/USD tested the 1.30 handle in the early part of the NY morning attributed to option related buying. However Euro-related crosses were 'hammered during mid-NY morning and weighed upon the outright EUR/USD rate, which fell back below 1.2940. The USD/JPY continued to hit fresh 2010 lows below 86.35 following the much weaker
University of Michigan sentiment headline (lowest reading in a year). Much of the dealer chatter focused on aspect that the US was now flirting with deflationary scenarios given the recent CPI and PPI data but questioned the durability of the Euro's 6-week rally ahead of next Friday's release of the EU stress test. The US TIC data showed that China's treasury holdings fell by $32.5B in May to $867.7B. Total foreign holdings edged up a slight $5.8B to $3.96T.

***Looking Ahead***
15:00 (AR) Argentina May Economic Activity Index M/M: No est v 1.3% prior; Y/Y: 9.1%e v 9.7%



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 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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