***Economic Data*** - (IC) Iceland Sept Unemployment Rate: 7.2% v 7.3% prior - (SA) South Africa Aug Manufacturing Production M/M: -3.6% v -1.3%e; Y/Y: 5.3% v 8.6%e v 7.5% prior - (EU) ECB drained â‚¬63.5B in 7-day term Deposit tender vs. â‚¬63.5B targeted - (RU) Russia Aug Trade balance: $8.3B v $9.5Be - (US) Sept NFIB Small Business Optimism: 89.0 v 88.8 prior - (US) ICSC/GS weekly chain store sales w/e Oct 9th: +0.8% w/w; +2.6% y/y - (PD) Poland Aug Current Account: -â‚¬1.1B v -â‚¬1.Be; Trade Balance: -â‚¬786M v -â‚¬628Me - (US) Redbook Retail Sales w/e Oct 9th: +2.5% y/y; MTD: +0.2% v Sept - (US) Oct IBD/TIPP Economic Optimism: 46.4 v 44.5e prior - (MX) Mexico Aug Industrial Production Y/Y: 8.1% v 6.2%e
- Investors were skittish heading into the US trading session this morning following confirmatory reports in the Asia session that the PBoC had raised its reserve requirement. The dollar strengthened and investors headed for the relative safety of Treasuries, and both Asian and European equity market dipped lower (although Shanghai recouped its losses and European bourses have returned to even). Focus is now totally on this afternoon's FOMC minutes release. Crude is headed toward the low end of its range seen over the last week, trading around $81.50, while gold is pivoting around the $1,350 level. US Treasury yields are a touch lower with the 10-year remaining below 2.4% ahead of this afternoon's three year auction.
- Autoparts manufacturer Johnson Controls is off a few percent after providing a first look at its FY11 outlook, which was largely in line with expectations. Industrial and construction supply name Fastenal is down nearly 5% despite meeting expectations in the firm's Q3 report. Global Payments has plunged 10% and remains at its lows after missing earnings expectations slightly in its Q1 report yesterday after the close. Video game reseller Gamestop is down 3% after an article discussing the negative impact of a court ruling from last month made the rounds. A Dallas Morning News article cites a federal appeals court case last month, Vernor vs. Autodesk, that could be applied to Gamestop and other video game resellers.
- Unconfirmed deal chatter moved multiple names in the premarket this morning. Cosmetics name Avon jumped nearly 10% after a story in the UK's Daily Mail reported that that L'Oreal may be considering acquiring the company for $44/share. A L'Oreal spokesperson refused to comment on the rumor. Shares of AVP are heading straight back towards unchanged. JP Morgan called OfficeMax a potential LBO target, sending shares of OMX up 8%, although the name is only up 5% in mid morning trading. Pfizer said it would acquire King Pharma for $14.25/shr in cash, for a total deal value of $3.65B.
- The greenback gave up some of its earlier gains as the New York session began, with the CHF pair leading the way. USD/CHF fell over 100 pips from one-week highs to test below the 0.96 level. EUR/USD headed back toward the 1.3830 area after testing 1.3775 earlier. CNBC comments from Pimco's El-Erian, in which he reiterated that he expected the Fed to move forward with QE2 in November, was one catalyst for the dollar weakness. In Europe, investors brushed off peripheral concerns about Ireland while the Greece/Germany 10-year bund spread moved below the 700 bps level for first time in about four months. Note that EUR/CHF reflected the overall soft tone of the euro, with the pair retesting below 1.33.
***Looking Ahead*** - Peru Aug Trade Balance: No est v $459M prior - 11:45 Fed's Hoenig to Speak at NABE in Denver on U.S. Economy - 12:20 ECB's Trichet Speaking in New York - 13:00 US Treasury to sell $ B in 3-Year Notes - 14:00 Minutes of Sept 21st FOMC Meeting - 17:00 ABC Consumer Confidence w/e Oct 10th: No est v -47 prior - China Sept Trade Balance: $17.8B v $20.0B 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.
Mon 18 Dec
10:00 EZ- final HICP Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
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.