Dow +66 S&P +7.2 NASDAQ +15.5 ***Economic Data*** - Hungary Central Bank left its Base Rate Unchanged at 5.25% (as expected) - (BR) Brazil Sept Current Account: -$3.9B v -$4.0Be; Foreign Direct Investment: $5.4B v $2.7Be - (US) Sept Chicago Fed National Activity Index: -0.58 v -0.30e - (TU) Turkey Oct Capacity Utilization: 75.3% v 73.5% prior; Industrial Confidence: 107.2 v 110.7 prior - (US) Sept Existing Home Sales: 4.53M v 4.30Me - (US) Oct Dallas Fed Manufacturing Activity: +2.6 v -8.5e
- US equity indices are near their highs in early session trade after decent data drove some modest risk appetite. Both the September home sales data and the October Dallas Fed index were better than expected, with the latter beating estimates by a wide margin. Note that traders have put the brakes on the big slide in the dollar seen overnight, with EUR/USD moving back below the key 1.40 level. Note that the focus this week is squarely on Friday's advance Q3 GDP reading, which is seen as key for a decision on QE2 by the FOMC at its Nov 2-3rd meeting. After a week-long decline in gold, the yellow metal gained earlier in the session, but is back at $1,338. Crude is near its highs, just above $83. Treasury prices are firmer which has pressured the 10-year yield back towards 2.5%.
- Shares of RadioShack are down nearly 5% in early trading despite relatively strong Q3 headline earnings and revenue. Apparently investors are troubled by stagnation in the retailer's core consumer electronics sales, even as mobile sales, including the sales of the iPhone, show healthy growth. Note that RadioShack is very often mentioned as a possible takeover candidate. Office Depot offered a preliminary look at its Q3 results, which are due to be officially released Wednesday morning. ODP's earnings were three cents in the black, versus the Street's expectation for a small loss; the bottom line is even higher taking into account a one-time tax-related gain. Shares of ODP are up more than 10%. Lorillard is up a healthy 3% after the firm crushed earnings and revenue expectations. Note that shares of Citigroup were up 3% at one point this morning after Goldman added the name to its Conviction Buy List.
- In mergers news, the Australian Stock Exchange said it has agreed to be acquired by the Singapore Exchange for more than $8B in cash and stock. The parties expect the deal, which will create the world's fifth largest listed exchange, help the two players compete with other Asian and Western exchange entities. Following press speculation, CommScope confirmed that it was holding discussions with private equity firm The Carlyle Group, with a potential deal for $31.50/shr in cash under negotiation. In addition, shares of Pre-Paid Legal Services are up sharply after the company said it was looking at a $60/shr offer from an un-named private equity firm.
- The USD paused from its earlier weak tone as dealers continued to debate whether it was in the interest of emerging market countries not let the dollar go into a freefall so soon after G20 meeting. Overall dealers noted that part of the process would depend on the intervention/diversification cycle of key nations. EUR/USD is hovering around the 1.40 level while USD/JPY is around 15-year lows; dealers noted that several major Japanese companies adjusted their forecast in the pair with Toshiba planning for 70 and Toyota bracing for 80.00, indicateding that Japanese corporate players do not expect forex help. BoE's Tucker commented that the MPC was less likely to withdraw monetary stimulus but noted that the economy was recovering
***Looking Ahead*** - (IS) Israel Central Bank Base Rate Decision: Consensus expectations for the Base Rate to remain unchanged at the current 2.00% level. - 13:00 (US) Treasury to sell $10B in 5-Year TIPS Reopening - 13:30 (US) Fed's Bullard to Give Welcome at St. Louis Conference - 16:30 (US) Fed's Dudley to Speak at Cornell University - 17:15 (US) Former Fed Governor Kohn Speaks on Financial Regulation - 20:00 (US) Fed's Hoenig to Speak at University of Kansas
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."
Actionable trading levels delivered to YOUR charts in real-time.
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.
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.