***Economic Data*** - (IR) Ireland May Trade Balance: â‚¬4.1B â‚¬2.9B prior - (CA) Canada Jun Consumer Price Index M/M: -0.1% v 0.0%e; Y/Y: 1.0% v 1.0%e - (CA) Canada Jun CPI Core M/M -0.1% v 0.1%e; Y/Y: 1.7% v 1.9%e - (BE) Belgium Jul Business Confidence: v -8.0e - (MX) Mexico Jun Preliminary Trade Balance: -$340.5M v $100.0Me - (MX) Mexico Jun Unemployment Rate: 5.1% v 5.1%
- The EU bank stress tests and some poor corporate earnings reports are keeping risk appetite subdued in the US morning. The focus is very much on Europe, where analysts and commentators are reiterating rumors about which banks may have failed the tests. Analyst expectations are that around 10 of the 91 banks tested will "fail," although the real question is where the laggards are located. Note that there were vague rumors that a French bank had not met the test's threshold. An ECB draft document stated that the stress test were limited to banks trading book losses, rather than all bonds they hold to maturity, with the testing scenario based on a double-dip recession and a 20% decline in equities. Front-month crude is trading in a tight range, more or less even with yesterday's highs, just short of $79. Gold is at the bottom of the range for the session, off approx $5 on the day to trade at $1,190. Copper prices continue to hover near two-month highs above $3.15. US Treasury prices remained under a little pressure in the early going sending the 10-year yield back to 3% briefly. Prices were bid up though after the first look at the official stress test parameters sending the US benchmark rate back below 2.95%.
- Dow components American Express, McDonalds and Verizon reported decent results, although there was little in the reports to inspire investors. AmEx beat expectations and showed more big declines in loss provisions, although its US card services revenue was down notably from last year. McDonalds barely exceeded expectations, although profits were up more than 11% sequentially. Verizon actually missed revenue expectations, and certain subscriber net additions declined from last quarter, disappointing analysts. Although AmEx warned the firm remains cautious on the economy, it is seeing broad-based growth in consumer spending. Shares of VZ are up 4% in mid morning trading, AXP is up less than 1% and MCD is down 2%.
- Results from a brace of industrial names provide a positive picture of the manufacturing sector. Ford crushed expectations, beating top- and bottom-line expectations by healthy margins. CEO Mullaly said the company continues to take market share in the US, and said Ford's 2011 results would be "even better" than 2010. Ingersoll Rand topped earnings estimates, although its raised full-year outlook did not meet expectations. Johnson Controls missed bottom-line expectations by a penny and missed 2010 earnings targets. Honeywell was somewhat ahead of expectations. Honeywell's CEO said the company believes the recovery is happening, given better demand in both the firm's short- and long-cycle businesses. Shares of Ford are up a solid 4%, HON is up 2%, shares of IR are well off their worst level, but still only flat on the day. JCI is down 6%.
- Both earnings and revenue in Microsoft's Q4 results beat the Street, and the firm hiked its operating margin noticeably. Microsoft's CFO made headlines when he said he "still believes in the PC refresh cycle." Amazon shocked markets by missing EPS expectations (revenue was in line), citing higher operating expenses due to higher infrastructure costs. Earnings from memory maker Sandisk were way ahead of the consensus view. Electronics manufacturer Flextronics was in line with analysts' expectations. MSFT is in the red this morning, while AMZN, SNDK and FLEX are all down around 6%.
- Oil services leader Schlumberger met expectations. The firm also provided a wide-rangeing update on the industry and said it is not planning for any resumption of drilling activity this year in deepwater Gulf of Mexico. Schlumberger insisted The recovery in world demand for oil has been reasonably robust and said the coming year would see slowly increasing levels of exploration and production activity. In other energy sector news, Murphy Oil announced that it would exit the refining business and sell off its downstream assets after continued losses in the business.
- The greenback has managed to climb back from sessions lows against the European pairs as the release of the EU stress test results approached. The rumors about a French bank missing the threshold weighed on euro sentiment and EUR/USD traded below the 1.29 level in New York trading.
***Looking Ahead*** - (EU) EU Regulator CEBS to release 'summary of the 91 bank-by-bank results, sorted by country' - (EU) EU Regulator CEBS press conference and Q&A - (AR) Argentina Jun Trade Balance: $1.5Be v $1.9B prior - (CO) Colombia Central Bank Interest rate Decision: Unanimous analyst expectations is for the Overnight Lending Rate to remain steady at 3.00%
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 10 Sep 2018 AA 08:30 GB- GDP, Trade, Output Tue 11 Sep 2018 AA 08:30 GB- Employment Decision A 09:00 DE- ZEW Survey Wed 12 Sep 2018 A 12:30 US- PPI A 14:30 US- EIA Crude A 18:00 US- Beige Book Thu 13 Sep 2018 A 1:30 AU- Employment AA 11:00 GB- Bank of England Decision AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless AA 12:30 US- CPI Fri 14 Sep 2018 A 08:30 GB- GDP AA 12:30 US- Retail Sales A 13:15 US- Industrial Production AA 14:00 US- prelim 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.