***Economic data*** - (CA) Canada Aug Consumer Price Index M/M: -0.1% v 0.0%e; Y/Y: 1.7% v 1.9%e - (CA) Canada Aug Core CPI M/M: 0.1% v 0.1%e; Y/Y: 1.6% v 1.6%e - (BR) Brazil FGV Inflation IGP-M: 1.0 v 1.1%e - (BR) Brazil Sept IBGE CPI IPCA-15 M/M: 0.3% v 0.2%e - (PD) Poland Aug Core Inflation M/M: -0.1% v 0.0%e; Y/Y: 1.2% v 1.2%e - (US) Aug Housing Starts: 598K v 550Ke (+10.5% m/m); Building Permits: 569K v 560Ke - (US) Redbook Retail Sales w/e Sept 18th: +2.7% y/y; MTD -0.4% - (BR) Brazil Aug Current Account: -$2.9B v -$2.5Be; Foreign Direct Investment (FDI): $2.4B v -$2.2Be - (MX) Mexico July Retail Sales: 2.2%e v 1.5% prior
- Markets are holding steady this morning ahead of the FOMC decision. Note that the S&P500 has sustained its breakout from the trading range seen since late May, opening a bit lower at 1142 but well above the key 1130 area that was broken in yesterday's session. EUR/USD is probing six-week highs thanks to relatively positive results from the Irish, Spanish and Greek debt auctions in the European session. Data out in the premarket showed that August housing starts and building permits grew on a m/m basis, hitting their highest levels since April. Note that a 32% m/m increase in condo and apartment starts helped pull up the overall housing starts data. In one key area weakness persists: single-family permits, which declined 1% m/m in August to a 16-month low. Natural gas prices have surged 4.5% following forecast that temperatures could be well below normal in the mid-west and east by the time December rolls around. November crude is down 1% at $75.50 ahead of this afternoons API data. The benchmark 10-year yield is lower by 3 basis points at 2.67% while the 2-year rate hit another all time low briefly below 0.45% earlier.
- In earnings, Carnival is up 3% after decent Q3 results and higher FY10 guidance. In the earning release, Carnival said that booking volumes for the remainder of 2010 and the first half 2011 are running ahead of the prior year at prices in line with prior year levels. Competitor RCL is up nearly 4% on the positive report. AutoZone merely met expectations in its Q4 results and shares of AZO are down 2%. Consumer staples name ConAgra Foods missed top- and bottom-line expectations and reduced its FY11 guidance slightly, sending shares of CAG down 5%. Other processed food names are off on the news as well. Companies associated with heavy truck and equipment manufacturing are up this morning after German manufacturers MAN Group and Daimler both offered bullish commentary on the market for trucks. Daimler said new truck orders were up 65% ytd. CAT, CMI and F are all up 1-2% on the news.
- The euro is benefitting from a round of decent peripheral Euro Zone debt auctions seen before the US session. The auctions were not problem free, especially given the lower bid-to-cover seen in the Spanish bill sale, but nevertheless EUR/USD is just below the 1.3150 level last seen in early August. USD/CHF is lower, hovering just above parity at 1.0021 in the wake of a troubling reading in Switzerland's August trade balance. Exchanges of heated rhetoric between Washington and Beijing continue apace, even after the PBoC set the midpoint of the CNY trading range at its highest level since the 2005 revaluation. Note that there was interesting commentary out of China's SAFE overnight. In an essay on deepening yuan reform, an official wrote that China should not fear a floating exchange rate and that reform should focus on improving mechanism, not adjusting FX levels.
***Looking Ahead*** - 14:15 (US) FOMC Rate Decision: Expected to maintain interest rates at 0.25% - 16:30 (US) API Weekly energy Inventories - 17:00 (US) ABC Consumer Confidence w/e Sept 19th: No est v 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
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.
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.