***Economic Data*** - (PD) Poland Central Bank Interest maintained the Base Rate at 3.50%; as Expected - (GE) Germany Dec GfK Consumer Confidence: 5.5v 5.1e; Highest reading since Oct 2007 - (CA) Canada Oct Consumer Price Index M/M: 0.4% v 0.2%e; Y/Y: 2.4% v 2.2%e - (CA) Canada Oct CPI Core M/M: 0.4% v 0.1%e; Y/Y: 1.8% v 1.5%e - (BR) Brazil Oct Current Account: -$ v -$4.0Be; Foreign Direct Investment (FDI): $ v $5.0Be v $5.4B prior - (US) ICSC/GS weekly chain store sales w/e Nov 20th: -0.6% w/w; +2.8% y/y - (CA) Canada Sept Retail Sales M/M: 0.6% v 0.7%e; Retail Sales Less Autos M/M: 0.4% v 0.3%e - (US) Q3 Preliminary GDP Q/Q Annualized: 2.5% v 2.4%e; Personal Consumption: 2.8% v 2.5%e - (US) Q3 Preliminary GDP Price Index: 2.3% v 2.3%e; Core PCE Q/Q: 0.8% v 0.8%e - (US) Redbook Retail Sales w/e Nov 20th: +2.6% y/y; MTD: 0.0% v Oct - (MX) Mexico Sept Retail Sales: 4.1% v 4.6%e - (US) Oct Existing Home Sales: 4.43M v 4.48Me; Existing Home Sales M/M: -2.2% v -1.1%e - (US) Nov Richmond Fed Manufacturing Index: 9 v 6e
- Equity indices in the US and Europe are headed for fresh session lows this morning as North Korean artillery fire joins the Irish debt bomb in demolishing investor confidence. The iShares South Korea ETF is down more than 5% in US trading after North Korea shelled a South Korean island, killing two and injuring many more. Leading global powers have condemned the attack, with the notable exception of China. The Irish government and opposition parties are heading for a parliamentary showdown, with the former insisting it can remain in place and the latter threatening no confidence votes. Contagion from Ireland is spreading in Europe: spreads between 10-year Spanish and German government debt widened out to all-time highs above 230 bps while spreads between 10-year Portuguese and German paper tested all-time highs over 430. The euro is weakening rapidly, with EUR/USD dropping below1.3400 for the first time in nearly 2 months. The second reading of the Q3 GDP data has been somewhat lost in the shuffle, with headline annualized q/q GDP figure at +2.5% versus the +2.0% q/q figure seen in the first reading back at the end of October. The October existing home sales fell over September levels, although the NAR explained that temporary foreclosure stoppages likely held back sales. Gold has pushed out to one-week highs, to trade above $1,364. Front-month WTI crude tested two-month lows just above $80 earlier this morning, before regaining some ground. January crudes is currently trading around $80.80. US Treasury yields continue to retreat, aided by safe haven flows. The benchmark US 10-year is below 2.75% heading towards the FOMC minutes release and the 5-year auction results scheduled for this afternoon.
- Shares of Hewlett-Packard are up marginally after the computer giant topped profit and revenue expectations in its Q4 report as well as it Q1 and FY11 guidance. On the conference call, executives said the company is only seeing consumer weakness at the low end of the notebook market, although demand has been uneven. Brocade is down around 6% after missing targets in its Q1 guidance. The firm's Q4 performance was in line with Street analysts. Nuance spiked as much as 10% in the wake of yesterday's thoroughly unremarkable Q4 earnings report. Apparently Apple co-founder Wozniak misspoke during an online interview, stating that "Apple recently bought the company Nuance" (when he really meant a separate company that made use of Nuance voice recognition technology). NUAN is still up more than 5%. In the healthcare sector, medical device giant Medtronic was right in line with expectations. Campbell Soup is down slightly after a slightly soft Q1 earnings report.
- Comments from German officials continued to weigh on euro sentiment. German Chancellor Merkel echoed her finance minister by insisting that the euro was in an 'exceptionally serious' situation due to the peripheral debt crisis. She added that Germany must stay the course in regards to its budget austerity to ensure sustainable growth. Persistent rumors that Portugal's sovereign rating would be cut were fueled by a Moody's analyst, who said he was concerned about the country's deficit. EUR/USD hit fresh seven-week lows below 1.3435 with EUR/JPY cross retesting its Nov low around 111.00.
***Looking Ahead*** - 11:00 (US) Fed to Purchase $1.0-2.0B in TIPS - 11:30 (BR) Brazil Oct Tax Collections (BRL) 73.9Be v 63.4B prior - 11:30 (UK) Bank of England's Posen speaks in Sweden - 11:30 (US) Treasury to sell 4-Week Bills - 13:00 (US) Treasury to sell $35B in 5-Year Notes - 14:00 (US) Fed Releases Minutes from Nov. 2-3 FOMC Meeting - 14:00 (AR) Argentina Oct Trade Balance: $945Me v $1.1B prior - 14:00 (AR) Argentina Q3 Unemployment Rate: 7.8%e v 7.9% prior - 14:30 (US) API weekly energy inventories - 17:00 (US) ABC Consumer Confidence w/e Nov 21st: No est v -47 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.
POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production
POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision
John M. Bland, MBA co-founding Partner, Global-View.com
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.
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.