User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday October 19, 2010 - 15:48:06 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update (TTN)

US Market Update

Dow -115 S&P -11 NASDAQ -28
***Economic Data***
- (US) ICSC/GS weekly chain store sales w/e Oct 16th: -0.7% w/w; +1.7% y/y
- (PD) Poland Sept Sold Industrial Output M/M: 13.2% v 13.3%e; Y/Y: 11.8% v 11.4%e
- (PD) Poland Sept Producer Prices M/M: +0.1% v -0.1%e; Y/Y: 4.3% v 4.2%e
- (US) Sept Housing Starts: 610K v 580Ke; Building Permits: 539K v 575Ke
- (US) Redbook Retail Sales w/e Oct 16th: +2.6% y/y; MTD: +0.2% v Sept
- (BE) Belgium Oct Consumer Confidence: -2 v -4 prior
- (BR) Brazil Sept CAGED Formal Job Creation: 246.9K v 300.0Ke
- (CA) Bank of Canada (BOC) left its key Overnight Rate unchanged at 1.00%; As expected

- This morning's surprise PBoC rate hike and a brace of disappointing earnings reports are weighing heavily on equity indices and commodities while forcing the Greenback higher.
China raised interest rates for the first time for nearly three years as it continues its exit from support for the economy. In earnings, investors were disappointed with aspects of earnings from Apple, IBM and Bank of America, among others, even as headline numbers met or exceeded expectations. The September housing starts data showed a surprising gain, with strength seen in single home starts, for the strongest report in the series since April. However Sept building permits missed expectations and fell on a m/m basis, with many analysts troubled by the widening spread between the two key forward-looking housing market indicators. The Fed's Evans reiterated his belief there is evidence the US has entered a liquidity trap while both he and New York Fed Governor Dudley reiterated tacit support for further Fed asset purchases. Precious metals have fallen sharply in the wake of the China decision, with December gold trading at $1,340. Oil is right at the bottom of the range seen over the last two weeks, just above $81. US Treasury prices have pared some early losses keeping the benchmark 10-year yield right around 2.5%.

- Apple delivered another quarter of impressive earnings outperformance in its Q4 report. The firm's top and bottom lines predictably exceeded analysts' expectations, and understated EPS guidance for next quarter predictably came in below par. Note that although iPhone shipments may have grown a whopping 91% on a y/y basis, analysts are disappointed that iPad shipments were lower than the Street had expected. After the data, iSuppli forecasted that Apple would ship 43.7M iPads in FY11. IBM came in modestly ahead of Q3 estimates and raised its 2011 outlook. There were a few troubling lines in its report, however, with signed service contracts down on a y/y and q/q basis and outsourcing revenues down sharply over year-ago levels. The company blamed some late signings, but investors were spooked nonetheless. AAPL is down 2%, while
IBM is down more than 3%.

- Third-quarter numbers from Goldman Sachs were solid, although the picture was more mixed with Bank of America. Both Goldman's earnings and revenue beat the Street, although the firm's trading revenue fell on a q/q and y/y basis for a second quarter in a row. BoA posted a $10.4B write-down tied to new financial regulations in Q3, leading to another quarter of losses. On an operating basis, the bank earned $0.27/shr, well ahead of expectations, while revenue was in line. According to CEO Moynihan, BoA made money every trading day in trading operations and saw further stabilization in its loan book and in loan quality across the board. After falling as much as 2% in early trading,
BAC is back in the black, while shares of GS are up more than 2.5%, leading the banks higher in mid morning trade. In other financial sector earnings, both Bank of New York and Zions Bancorp met expectations, in part on much lower loss provisions.

- Dow components Coca Cola and Johnson & Johnson both disclosed relatively staid Q3 results, with quarterly performance in line with analysts' estimates. Defense major Lockheed Martin missed revenue targets and cut its 2010 outlook due to the sale of certain units. KO is flat, while shares of
JNJ are down 1.5%. United Health, the first major managed care name to report, did very well, crushing EPS targets, beating on revenue and raising its 2010 outlook. Nevertheless, UNH is down 2.5%.

- Central bank actions are weighing heavily on global markets during the
New York session. The rate move by China's central bank pulled the carpet out from under the appetite for risk. The rate hike comes ahead of China's September GDP and inflation reports (due on Wednesday), although the move was initially viewed as a gesture ahead of this weekend's G20 finance ministers' meeting. Commodity-related and emerging markets were initially the most affected by the rate move. The Bank of Canada left rates unchanged (as expected) but lowered its 2010 and 2011 growth forecasts. The BoC now expects the economic recovery to be more gradual than it had projected in its July Monetary Policy Report. In the US, Fed members were vocal in renewed calls for possible QE2, helping to smooth the bullish tone of the greenback.

- With investors fleeing risk, the dollar strengthened against major pairs. EUR/USD tested below the 1.38 handle while GBP/USD tested below 1.57 (aided by a weak CBI industrial data). The environment seemed ripe for possible BoJ currency intervention as the USD/JPY nudged up to approach the 82 level, but no signs of action were even remotely seen.

***Looking Ahead***
- 11:00 (EU) ECB's Costa Speaking in Frankfurt
- 11:30 (US) Fed's Lockhart to Speak on Economy
- 12:50 (US) Fed's Fisher Speaks in New York
- 13:20 (US) Kocherlakota Speaks in Fargo, North Dakota
- 15:00 (BR) Brazil Sept Tax Collections (BRL) 62.6Be v 62.7B prior
- 16:30 (US) EIA Energy Inventories
- 16:00 (US) Fed Gov Bernanke Gives Brief Remarks in Fairfax, Virginia
- 17:00 (US) ABC Consumer Confidence w/e Oct 17th: No est v -45 prior
- 17:00 (CO) Colombia Aug Industrial Production Y/Y: 5.5%e v -0.2% prior; Retail Sales Y/Y: 12.3%e v 13.8% prior
- 18:00 (PD) Polish Central Banker Belka,
- 18:00 (HU) Hungarian Central Banker Kiraly Speaks


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

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 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