User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday September 2, 2010 - 15:43:57 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update (TTN)

Thursday, September 02, 2010 11:36:15 AM

 US Market Update

Dow -3 S&P +4 NASDAQ +13

***Economic Data***
- (EU) ECB maintained the Main Refi Rate at 1.00%; As Expected
- (US) Q2 Final Nonfarm Productivity: -1.8% v -1.9%e; Unit Labor Costs: 1.1% v 1.2%e
- (US) Initial Jobless Claims: 472K v 475K; Continuing Claims: 4.456M v 4.440Me
- (SI) Singapore Aug Purchasing Managers Index: 49.4 v 51.3e; Electronics Sector Index: 50.6 v 52.8e
- (US) July Factory Orders: 0.1% v 0.2%e
- (US) July Pending Home Sales M/M: +5.2% v -1.0%e; Y/Y: -20.1% v -20.3% prior
- 10:30 (US) Weekly EIA Natural Gas Inventories: +54 bcf vs. +50 TO +55 bcf estimated range

- More less bad US data is sustaining the optimistic tone in global markets this morning. The NASDAQ is leading the way in equities as M&A activity remains robust. Same-store sales were largely positive. The weekly claims data were essentially flat with last week's reading, which seems to count as a positive factor these days, while the July pending homes sales numbers were much better than expected, contrasting sharply with the July new and existing home sales data points out last week. Note that the four-week moving average in claims may have improved for the first time in five weeks, but remains stubbornly high (only a hair below last week's MA, which was the highest level since last December). Fed Chairman Bernanke is testifying before the Financial Crisis Inquiry Committee this morning, discussing the events of Fall 2008. Bernanke noted that the Fed is well on the way to designing a test for "too big to fail" institutions. Note that December gold remains elevated, just below the two-week highs seen in yesterday's session at $1,253.

- Oil service names have led a bit a retreat it late NY morning trade after reports of another
Gulf of Mexico rig explosion surfaced. The Vermillion 380 rig is owned by Mariner Energy which has seen sharp declines on the initial reports along with Apache and other members of the OSX.

- Dell and HP traded a final salvo in their pursuit of 3Par. Dell had until yesterday to top HP's latest raise in its offer for 3Par, and as of the close of business on Wednesday no new offer had been announced. Then this morning, 3Par stated that Dell had in fact raised its offer to $32/shr, which HP subsequently beat with a $33/shr offer. There have been reports that Dell has declined to raise its bid again. After some confusion yesterday, Burger King said that it had an offer from private equity firm 3G Capital (yesterday various media sources erroneously cited "3i Group" as interested in the fast food company). 3G will acquire the firm for $24/shr, in a deal valued at $4B. Avis Budget sweetened its bid for Dollar Thirfty this morning, raising it to $40.75/shr from $39.25/shr prior. Note that earlier in August DTG's board said Avis's proposal had "problematic" issues although it saw it as superior to Hertz's offer.

- August retail sales data was surprisingly strong, with most major retailers showing solid growth in sales over last August and beating consensus estimates. But much like recent month, better retail comps continue to come from steep, aggressive discounting and very favorable comparisons to last August, when sales were extraordinarily weak. Limited Brands is a real standout in the apparel sector, racking up double-digit comps for a second month in a row, while former sales powerhouse Aeropostale disappointed again, after a very weak July SSS reading. Outside of apparel, Costco is a real standout, with much better than expected comps (both its competitors, BJs and Target, missed expectations). Retail ETF RTH is up an impressive 4% in early trading this morning.

- The ECB maintained interest rates and stated that it would continue with its full allotment refi operations through the end of 2010, as expected. ECB Staff projections raised the bank's 2010 and 2011
GDP growth forecast and slightly tweaked its inflation expectations 0.1% higher, although they remain well within the ECB's comfort range. EUR/USD has been holding within its recent 24-hour range, with 1.2850 again providing resistance. The market seems content to wait until the US non-farm payroll tomorrow before pushing any big moves in the pair. USD/JPY moved off the 84.00 level following the better US pending home sales data. The Japanese press is reporting that the BoJ might consider further easing steps should the highly unfavorable JPY trend continue. Meanwhile, commentators said intervention by the SNB was likely over, although further action could not be totally ruled out.

***Looking Ahead***
13:00 (US) Treasury to sell 10-Year TIPS Reopening
21:00 (CH) China Aug Non-manufacturing PMI: No est v 60.1 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."

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

Mon 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final University of Michigan

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