***Economic Data*** - (CA) Canada July Net Change in Employment: -9.3K v 12.5Ke; Unemployment Rate: 8.0% v 7.9%e; Full Time Employment Change: -139.0K v 48.9K prior; Part Time Employment Change: +129.7K v 44.2K prior - (BR) Brazil July IBGE Inflation IPCA M/M: 0.0% v 0.0%e; Y/Y: 4.6% v 4.6%e - (CL) Chile July CPI M/M: 0.6% v 0.7%e; Y/Y: 2.3% v 2.3%; CPI Ex Perishables & Fuel M/M: 0.6% v 0.6%e - (US) July Change in Nonfarm Payrolls: -131K v -60Ke; Change in Private Payrolls: +71K v +90Ke; Change in Manufacturing Payrolls: +36K v +10Ke - (US) July Unemployment Rate: 9.5% v 9.6%e - (US) July Avg Hourly Earning 0.2% v 0.1%e; Avg Weekly Hours: 34.2 v 34.1e - (CA) Canada July Ivey Purchasing Managers Index: 54.0 v 55.5e - (UK) July NIESR GDP Estimate: 0.9% v 1.1% prior
- The US payrolls data is the story this morning, with risk aversion picking up noticeably following the report. The headline non-farm payrolls decline was more than twice the expected amount, although the government letting census workers go comprises a good part of that gain. Private gains were well below expectations, and less than one-third of commentators' estimate of the 200K new jobs a month needed to cut unemployment rate. The steep revisions to the back-month figures for both non-farm payrolls and private payrolls are further cause for concern. In the wake of the data, PIMCO's Bill Gross said that he believes 7% is the expected low point for unemployment under 'new normal' scenario. The focus now shifts to the Fed: the FOMC has a scheduled rate decision next Tuesday afternoon, and many commentators wonder whether today's data could force Bernanke to act. Money is flowing into US Treasury markets once again. The 10-year yield dropped to its lowest levels in more than year at 2.82% while front month futures contracts continue to make lifetime contract highs across the curve. The 2-year briefly tested 0.5% for the first time ever and German government bond yields are at or near all time lows. Front-month crude is ticking lower, with the front month contract right around $81. Traders are also bidding up gold which is back above $1210, up 1% on the session.
- AIG racked up another big net loss, of $2.7B, in the second quarter, although the firm reported EPS of $1.99 on an adjusted basis. The company's various insurance operations continue to operate profitably. CEO Benmosche confirmed that the company is holding talks with the Treasury and the NY Fed in order to facilitate the government exit from its 80% stake in the crippled firm. Shares of AIG are up 4%. In other financial news, Brookfield Asset Management missed earnings expectations by a wide margin. Shares of BAM are down nearly 2%.
- Auto parts supplier Magna crushed analysts' consensus estimates in its Q2 report, boosting its revenue by more than 60% y/y. Fertilizer firm CF Industries missed expectations after taking into account of merger and integration costs associated with acquiring Terra Industries. Revenue was a bit above par. CF's outlook is favorable for fall volume in North America due to likely early harvest and strong projected 2011 plantings.
- In consumer sector news, shares of Kraft are up three percent and heading higher after the company beat expectations and affirmed its full-year earnings guidance. Quarterly losses at Live Nation were an order of magnitude greater than expected, citing a weak summer concert season. The company warned that the concert business would not be getting any better later in the year. LYV is down 2%. Activision Blizzard's revenue in Q2 was below par, though earnings met expectations. The company reiterated its 2010 outlook, although its guidance for Q3 was very soft. ATVI is down 5%.
- Private employment in the US may have seen its seventh straight month of growth but the overall July payrolls report illustrated a sluggish US economy. Dealers are now starting to believe that the Fed might be on hold for years to come. The greenback was broadly lower, hitting multi-month lows against the euro, pound and yen pairs. Risk aversion sentiment overtook other markets with European equities reversing from earlier gains and spot gold climbing to three-week highs above the $1,205/oz level.
***Looking Ahead*** - (US) Jun Consumer Credit: -$5.6Be v -$9.1B prior - (CO) Colombia Central Bank Monetary Policy Minutes
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.
Mon 26 Feb 2018 A 15:00 US- New Homes Sales Tue 27 Feb 2018 A 08:55 DE- Jobless B 13:30 US- Durable Goods A 15:00 US- CB Consumer Confidence A 15:00 US- Pending Homes Sales AA 15:00 US- Powell House Testimony Wed 28 Feb 2018 A 10:00 EZ- flash HICP AA 13:30 US- GDP A 15:30 US- EIA Crude Thu 1 Mar 2018 A All Day final Mfg PMIs A 13:30 US- Weekly Jobless AA 13:30 US- Core PCE Deflator AA 15:00 US- Powell Senate Testimony A 15:30 US- EIA Crude Fri 2 Mar 2018 AA 15:00 US- final Univ of Mich
John M. Bland, MBA co-founding Partner, Global-View.com
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.