User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday November 7, 2013 - 16:40:09 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

TradeTheNews.com US Market Update: ECB Cuts Rates, Twitter IPO Opens, Retail Sales Impress

TradeTheNews.com US Market Update: ECB Cuts Rates, Twitter IPO Opens, Retail Sales Impress
Thu, 07 Nov 2013 11:24 AM EST

***Economic Data***
- (IL) Israel Oct Foreign Currency Balance: No est v $79.9B prior
- (MY) Malaysia Central Bank (BNM) left its Overnight Policy Rate unchanged at 3.00%; as expected
- (DE) Germany Sept Industrial Production M/M: -0.9% v 0.0%e; Y/Y: 1.0% v 0.8%e
- (ZA) South Africa Sept Manufacturing Production M/M: -4.7% v -1.2%e; Y/Y: -3.3% v 0.0%e
- (IE) Ireland Sept Industrial Production M/M: +2.9% v -0.8% prior; Y/Y: +11.7% v -5.7% prior
- (IE) Ireland Oct CPI M/M: -0.2% v 0.0%e; Y/Y: 0.1% v 0.3%e
- (IE) Ireland Oct CPI EU Harmonized M/M: -0.2% v 0.0%e; Y/Y: -0.1% v +0.1%e
- (PT) Portugal Q3 Unemployment Rate: 15.6% v 16.4% prior
- (BR) Brazil Oct IBGE Inflation IPCA M/M: 0.6% v 0.6%e; Y/Y: 5.8% v 5.9%
- (RU) Russia Gold and Forex Reserve w/e Nov 1st: $513.9B v $517.0B prior
- (RU) Russia Oct Official Reserve Assets: $524.3B$515.0Be
- (CL) Chile Oct Trade Balance: +$241M v -$100.0Me; Total Exports: $7.0B v $5.9B prior; Total Imports: $6.8B v $6.1B prior
- (CL) Chile Oct Copper Exports: $3.9B v $3.4B prior
- (UK) Bank of England (BOE) left both Interest Rates and Asset Purchase Target (APT) unchanged at 0.50% and 375B respectively (as expected)
- (CZ) Czech Central Bank left Repurchase Rate unchanged at 0.05% but enacts FX Intervention to weaken the CZK currency
- (EU) ECB cut its Main Refi Rate unchanged at 0.50% (not expected)
- (PL) Poland Oct Official Reserves: $105.5B v $106.9B prior
- (US) Q3 Advance GDP Annualized Q/Q: 2.8% v 2.0%e; Personal Consumption: 1.5% v 1.6%e
- (US) Q3 Advance GDP Price Index: 1.9% v 1.4%e; Core PCE Q/Q: 1.4% v 1.5%e
- (US) Initial Jobless Claims: 336K v 335Ke; Continuing Claims: 2.868M v 2.87Me
- (MX) Mexico Oct CPI M/M: 0.5% v 0.5%e; Y/Y: 3.43.3%e; CPI Core M/M: 0.2% v 0.2%e
- (US) Q3 MBA Mortgage Foreclosures: % v 3.33% prior; Mortgage Delinquencies (seasonally Adj): % v 6.96% prior
- (US) Weekly EIA Natural Gas Inventories: +35 bcf vs. +34-38 bcf expected range

- With a very heavy news stream this morning, markets have been acting a little bit bipolar, with US GDP, the Twitter IPO, tons of earnings, the surprise ECB rate cut, BoE and Czech rate decisions, and positive October retail comps all in the mix. As of writing, US equities are at or around their lowest levels, with the DJIA down 0.51%, the S&P500 down 0.44% and the Nasdaq down a whopping 1.33%.

- The advanced reading of US Q3 GDP surprised all observers with a +2.8% reading, the highest rate of GDP expansion since the third quarter of 2012. The extra strength was seen mainly in inventory restocking, while both imports and exports saw big steps down from the Q2 reading. Consumer spending grew at +1.5%, matching its slowest pace of growth in more than 3.5 years. Some wonder whether the data will argue for or against tapering, as there is ammunition within the report for both positions.

- The ECB surprised markets with an interest rate cut plus an extension of its fixed-rate, full allotment by one year to mid-2015. The moves will help prime banks with liquidity and prevent the weak recovery from stalling as inflation falls. It comes after the October euro zone CPI data fell to a four-year low of 0.7%, way off the target rate of 2.0%. The appreciation in EUR/USD has also presented problems for the euro zone, however Draghi insisted that the euro was not a factor in the decision and reiterated that the ECB has no FX policy target. Regarding the inflation issue, Draghi insisted that there is no risk of deflation in the zone, although he also indicated that Europe was entering a prolonged period of low inflation.

- The better US GDP data sent USD/JPY above the 99.00 level and opening the door for retest of the year's high near 104. EUR/USD tested below 1.3300 to make two-month lows but rebounded after Draghi noted that the Euro was not a factor in today's decision.

- Twitter frenzy has dominated the conversation this morning. The social media firm's 70M share IPO opened for trade this morning at approximately 10:50ET at $45.10, way ahead of the $26 pricing earlier this week. Shares of TWTR surged above $50 and then declined back below $45. Other social media names are not benefitting, with FB down 1.5% and LNKD down 2%.

- Shares of Tesla are down nearly 7% this morning after reports made the rounds that another Model S vehicle caught fire following an accident. This is the third Tesla to Model S vehicle to catch fire after an accident in the past six weeks. Tesla notes that it is investigating the accident.

- Toll Brothers is up 4% but off its best levels after reporting better-than-expected preliminary fourth-quarter revenue. The company said strong revenue growth is being driven by price increases in many communities and the acceleration in sales paces per community. Note that the company also floated 6.3M shares this morning. Beazer Homes widely topped both revenue and earnings targets inits Q4, and shares of BZH are up 7.6%.

- Retailers reported better-than-expected sales in October as discounts and promotions helped get shoppers into stores. Heading into retail reports expectations were very low, given the confidence issues and the chaos in Washington, DC during the month. Abercrombie's preliminary report yesterday, with its 14% decline in comps also didn't help. However nearly all major retailers disclosed pretty strong comps. Note that with a few exceptions, retail names are in the red as overall markets swoon. CACH and NWY are

***Looking Ahead***
- 13:30 (US) Fed's Dudley in NY
- 13:30 (EU) ECB's Draghi with German Fin Min Schaeuble at conference in Hamburg
- 14:00 (US) Fed's Stein in Chicago
- 14:00 (EU) EU President Van Rompuy speaks at Kristallnacht Ceremony in Brussels
- 15:00 (US) Sept Consumer Credit: $12.0Be v $13.6B prior
- 18:00 (PE) Peru Central Bank Interest Rate Decision: Expected to leave Reference Rate unchanged at 4.25%

 

 

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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 21 November 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:


Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
13:30 US- Durable Goods
15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
Thu 23 Nov
US/JP- Holiday
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias


  • POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic

  • POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy


  • POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
  • POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
  • POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
  • POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release


John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

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.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105