User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday July 27, 2010 - 15:29:45 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - US Market Update (Trade the News)

Tuesday, July 27, 2010 11:21:19 AM

 US Market Update

Dow -27 S&P -4.8 NASDAQ -13.5


***Economic Data***
- (BR) Brazil Jun Central Govt Budget (BRL): 1.1B v -510M prior
- (BR) Brazil Jul FGV Construction Costs M/M: 0.6% v 0.7%e
- (US) ICSC/GS weekly chain store sales w/e Jul 24th:+0.6% w/w; 3.8% y/y
- (US) Redbook Retail Sales w/e July 24th: +2.7% y/y; MTD: -0.7% v Jun
- (US) May S&P/Case-Shiller Composite-20 Y/Y: 4.61% v 3.85%e; House Price Index: 146.43 v 144.59 prior
- (BR) Brazil Jun Total Outstanding Loans (BRL): 1.53T v 1.50T prior; Private Banks Lending: 879B v 871B prior
- (US) Jul Richmond Fed Manufacturing Index: 16 v 11e
- (US) Jul Consumer Confidence: 50.4 v 51.0e
- (MX) Mexico May Global Economic Indicator: 8.9% v 8.0%e

- Better corporate earnings helped lift US equity indices before the open, although a miss in the July consumer confidence number has brought in some sellers in the late NY morning. Note that the July Richmond Fed regional manufacturing index was much better than expected, although the number declined from June levels. Consumer confidence is now where it stood in February, and barely above the key 50 handle. News on the housing market was mildly upbeat: the S&P/CS May home price index rose 1.3% from April. But the homebuyer's tax credit that expired April 30 had an impact on the reading, and the report warned that the recent gains in home prices are not likely to last. Gold prices are under substantial pressure approaching three month lows near $1160 as the August option contracts are set to expire. Other metals are also trading off and Sep crude prices are back below $78 for the first time in three sessions. US Treasury prices opened at or near session and overnight lows but have been paring back losses as equities have reversed lower. The 10-year yield remains above 3% while the 2-year is up a couple basis points to 0.62% ahead of this afternoon's auction results.

- Dow component Du Pont left consensus estimates in the dust in its Q2 report and raised its 2010 guidance considerably. On the conference call, Du Pont said global semiconductor consumption already exceeds pre-recession levels, noting that sales volumes and prices are up across the business. Shares of DD are up 4%. Energy majors BP and Valero both reported this morning. Shares of Valero were up nearly 3% in the premarket on the firm's better-than-expected earnings, although they are near unchanged in mid day trading. BP's quarterly results were predictably disastrous, and as expected the company replaced its embattled CEO Tony Hayward with BP insider Robert Dudley, who pledged to create a smaller, leaner, more focused company. BP's US-listed ADRs are down 3% or so.

- Steelmaker US Steel and AK Steel offered contrasting quarterly results. US Steel racked up a major $0.62 loss in its Q2 on FX trouble, mainly due to the big drop in the value of the euro in the quarter, although ex charges US Steel's Q2 earning would still have missed analysts' expectations. The company also said that next quarter's results are expected to be below Q2 largely due to a decrease in shipping and production volumes in the flat-rolled segment, reflecting slower order rates. AK Steel had a strong quarter, with both top- and bottom-line results beating expectations. After rising 3% in the premarket, shares of AKS are down 4% along with most other steel names. X is down more than 5%.

- A selection of major manufacturers have reported very strong quarterly results. Automobile component maker AmerisourceBergen and engine maker Cummins both beat top- and bottom-line expectations and also hiked 2010 guidance. In addition, ABC increased its share buyback. ABC is down 4% while CMI is up 3%. Like many other large
US corporations this earnings season, Cummins cited strength in emerging markets as driving the firm's strong results in the quarter. Agricultural equipment maker AGCO also beat expectations and boosted its 2010 view, citing strength in Latin America. Engineering firm Fluor Corp modestly exceeded expectations. AGCO is around even. Rail name Kansas City Southern beat out the consensus view, noting that automotive and intermodal traffic trends have been encouraging. KSU is down 5%.

- The greenback crawled back from multi-month lows against the euro as chatter that the SNB might be on top in the EUR/USD pair made the rounds. However, technical factors could push the dollar a bit higher. Dealers noted that EUR/USD failed a second time to close above the declining its 21 moving average, and a move to 1.27 sets up a possible outside week. Another dealer commented that the weekly candle charts may suggest an "evening star" pattern. The price action today mirrored the definition as reversals are often characterized by marginal new highs, and then failure. Dealers are now eyeing the 1.2900 area for additional downside momentum in the pair. Spot gold seemed to aid the dollar after the spot metal broke below its 21-month uptrend line at $1,174/oz.

***Looking Ahead***
- 12:00 (FR) France Jun Net Change Jobseekers: K v 10.0Ke; Total Jobseekers: M v 2.69Me v 2.70M prior
- 13:00 (US) Treasury's to sell $38B in 2-year notes
- 14:00 (US) Treasury Brainard
- 16:30 (US) EIA Weekly Energy Inventories
- 17:00 (US) ABC Consumer Confidence w/e Jul 25th: -46e v -45 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."



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 18 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

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



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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