User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday October 20, 2010 - 15:32:58 GMT
Trade the News Staff -

Share This Story:
| | Email

Forex Blog - US Market Update (TTN)

Wednesday, October 20, 2010 11:17:58 AM

 US Market Update


Dow +115 S&P +10.7 NASDAQ +21
***Economic Data***
- (BR) Brazil Oct IBGE CPI IPCA-15 M/M: 0.6% v 0.6%e
- (US) MBA Mortgage Applications w/e Oct 15th: -10.5% v 14.6% prior
- (PD) Poland Sept Core Inflation M/M: 0.2% v 0.2%e; Y/Y: % v 1.2%e
- (CA) Canada Aug Wholesale Sales M/M: 1.2% v 0.5%e
- (MX) Mexico Aug Retail Sales Y/Y: 4.4% v 2.1%e
- (CA) Bank of Canada Monetary Policy Report: Reiterated view that further interest rate hikes would be carefully considered
- (US) DOE Weekly energy inventories: Crude: +660K v +2.5Me; Gasoline: +1.15M v -1.5Me; Distillate: -2.15B v -1Me; Utilization: 82.5% v 81.9%e

- General risk appetite is back on this morning as investors around the world refocus on expectations for additional quantitative easing from the Fed. Analysts are calling
China's surprise rate hike a one-off move to combat inflation and to placate US and European officials ahead of G20, US equities are trading higher on selected US corporate earnings. The Fed releases its beige book report later this afternoon and traders expect a slightly less downbeat outlook than last month's edition. However, no one expects any changes in the general policy prescription, which calls for QE2 sooner or later. Note that Fed Governor Duke warned against reading too much into the comments of individual members in a speech last night. Duke also said that lower rates on excess reserves may be a policy alternative to QE2. The Dollar is getting whacked once again giving back all of yesterday's gains highlighted by another 15 year low in USD/JPY. Commodities are recouping losses not surprisingly with the dollar weakness pushing Dec crude up nearly 2% at $82. Treasury prices are flat to higher erasing some early declines keeping the 10-year yield sub 2.5%.

- Selected bank stocks have been under pressure this morning thanks to ongoing mortgage and MBS issues, plus Morgan Stanley's less-than-stellar Q3 results. Morgan Stanley reported a net loss during the third quarter as revenue fell sharply and earnings were diluted by special one-time charges, although on an operating basis the firm beat expectations. Trading revenue was a shadow of last quarter's and last year's results. Super regionals Wells Fargo and US Bank topped expectations and reported that credit demand is heading in the right direction Like many competitors in the quarter, Wells Fargo's earnings were boosted by a big release of funds set aside to offset credit losses. Shares of MS fell as much as 4% before recovering some losses, while USB and
WFC are in the black. Note that shares of BAC are around their lows, down 5% at one point, as fears about MBS buybacks gather strength.

- Yahoo is up around 3.5% after crushing earnings expectations and reporting its first year/year revenue increase in the last two years. Note that the strong EPS result was due to one-time gains from selling assets. On the conference call, Yahoo CEO Bartz refrained from commenting on the various acquisition rumors surrounding the company. Shares of Western Digital have been volatile, up as much as 3% and down as much as 3%, after the firm met expectations in its Q1 but guided well below par for Q2. Biopharma Gilead Sciences is near its highs, up 6% after the firm showed strong growth in sales of its flagship HIV treatment.
Boston Scientific is up around 8% after destroying analyst estimates in its Q3 report and Q4 and FY10 guidance.

- Among industrial names, Dow component United Technology and competitor Textron are in the red on mixed third quarter results. Profits were slightly better than expected in the quarter, while revenue was below par. Both firms did increase full-year guidance slightly. With special charges, Textron reported a loss in the quarter. UTX and TXT are down 2% and 4%, respectively, in early trading. Boeing's profits were very strong in the quarter, beating expectations and a big turnaround from last year. The company cited a strong recovery in the commercial airplane market. Shares of BA are up more than 2%. Shares of US Airways and Delta are up more than 5% after strong results.

- With yesterday's dollar strength a memory the EUR/USD is probing 1.40 as the euro gains towards on renewed chatter that the Fed plans to "aggressively increase its bond purchases." In addition, German Chancellor Merkel commented that
Germany's 2010 GDP growth could exceed the 3% level. Overall the markets are looking at China interest rate move in a more positive light today, seeing it as a sign of the sustainability of global growth given the anticipated strong domestic data expected out of China on Thursday. Sterling managed to rebound from its soft tone following the revelation of a three-way BoE split at its last MPC meeting. There were no surprises from PM Osborne's spending review speech.

***Looking Ahead***
- 12:45 (US) Fed's Plosser Speaks on "Incentives and Regulation"
- 14:00 (US) Fed's Beige Book
- 14:00 (GE) Princeton's Krugman holds lecture at Berlin's Free University
- 16:00 (US) Fed's Lacker speaks about U.S. Economic Outlook
- (BR) Brazil Central Bank (COPOM) Interest Rate Decision: Expected to maintain the SELIC Target unchanged at the 10.75% level
- 22:00 (CH) China Q3 Real GDP Y/Y : 9.5%e v 10.3% prior
- 22:00 (CH) China Sept Consumer Prices Y/Y: 3.6%e v 3.5% prior
- 22:00 (CH) China Sept Retail Sales Y/Y: 18.5%e v 18.4% prior
- 22:00 (CH) China Sept Industrial Production Y/Y: 14.0%e v 13.9% 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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim 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