***Economic data*** - (US) MBA Mortgage Applications w/e Aug 20th: 4.9% v 13.0% prior - (US) July Durable Goods Orders: 0.3% v 3.0%e; Durables Ex Transportation: -3.8% v 0.5%e; Capital Goods Orders Non-defense ex-aircraft: -8.0% v +3.6% prior; Capital Goods Shipments Non-defense Ex Aircraft: -1.5% v +1.0% prior - (TU) Turkey Aug Capacity Utilization: 73.4% v 74.7% prior; Industrial Confidence: 111.0 v 112.7 prior - (US) July New Home Sales: 276K v 330Ke - (US) Jun House Price Purchase Index M/M: -0.3% v 0.1%e; Q/Q: +0.9% v -0.4%e - (MX) Mexico Q2 GDP Y/Y: 11.5% v 12.3%e; Current Account Balance: -$714M v -$659Me - (MX) Mexico July Unemployment Rate: 5.7% v 5.5%e - (US) DOE weekly energy inventories: Crude: +4.1M v +400Ke; Gasoline: +2.27M v -300Ke; Distillate: +1.76M v +1Me; Utilization: % v 89.5%e ***Fixed Income*** - (RU) Russia sold RUB1.3B v RUB15B indicated in Aug 2016 OFZ Bonds; avg yield 7.39%
- Weaker data and risk aversion are pushing down equities and fueling the flight to safety once again this morning after the poor showing in US durables and housing data. US new home sales fell to their lowest level on record in July, while home prices fell to a six-year low in June (recall that yesterday the rate existing home sales in July data fell to their lowest level in 15 years). The July durables numbers were very weak, with the series missing expectations by wide margins. The DJIA fell below the key 10,000 level just after the open, while the S&P500 found support at 1,040. European September Bund and Gilt futures set fresh record highs as the yields on the instruments hit record lows. Yield on the US 10-year bond is approaching 2.45% for the first time since January 2009. Spot gold is benefiting from the safe-haven flows and was moving back towards striking distance of its all-time highs and traded above $1,240/oz.
- The housing data may be dire, but homebuilder Toll Brothers is doing quite well this morning. The company reported its first quarterly profit in nearly three years, although the gain was due mostly to tax benefits and lower write downs on land holdings. Before these factors, Toll broke even. Note that the company's backlog is smaller than last quarter, and its FY10 guidance range for home deliveries is a bit tighter than back in May. Shares of TOL were up 4% just after the open, but are heading lower after the data. Shares of mall chain American Eagle Outfitters are up 4% after largely in line Q2 results. Brown Shoe Company is down 9% despite better than expected results and solid guidance. Railcar maker Greenbrier has been volatile on two news items. The firm warned that a major marine customer may cancel some orders, but also disclosed a big chunk of new business as well. Shares of GBX fell 4% before the open, rocketed up to +6% after the bell and are around +2% mid morning.
- The US durable goods data is fueling concerns over the strength of the global economic recovery as one of the few remaining bright spots in the US showed signs of cooling. The greenback was mixed during the New York session as the continued string of soft US data prompted various key analysts; Goldman Sachs O'Neill warned that more disappointing data might spur a fresh round of Fed easing measures. EUR/USD is off its worst levels and trading above the 1.2670 level in the mid-NY morning. EUR/CHF is off its historic lows and back above the 1.30 handle after the SNB's Hildebrand reiterated that the central bank would respond to any new deflationary risks.
- Peripheral spreads continue to widen on risk aversion flows with the spread between Irish/German 10-year Gov't bonds at 345bps (record) and the spread between Greek/German 10-year Gov't bonds back above the 930bps level. EUR/CHF cross continues to test fresh all-time lows as a result with 1.2975 dealt in the NY morning.
***Looking Ahead*** - (FR) France July Net Change Jobseekers: +14.0Ke v -8.6K prior - (US) Treasury to Sell $36B in 5-Year Notes
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.
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.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.