Forex News Blog
Back to The Headlines
Share This Story
TradeTheNews.com US Market Update: A Welcome Dose of Volatility
Wed, 25 Jun 2014 11:14 AM EST
- (UK) Jun CBI Industrial Reported Sales: 4 v 23e
- (US) MBA Mortgage Applications w/e Jun 20th: -1.0 v -9.2% prior
- (US) May Durable Goods: -1.0% v
0.0%e; Durables Ex Transportation: -0.1% v +0.3%e;Capital Shipments
Non-defense/Ex-aircraft: 0.4% v 1.0%e; Capital Goods Orders
Non-defense/Ex-aircraft: 0.7% v 0.5%e; Ex-Defense: % v -0.8% prior
- (US) Q1 Final GDP Annualized Q/Q:
-2.9% v -1.8%e; Personal Consumption: 1.0% v 2.5%e
- (US) Q1 Final GDP Price Index: 1.3% v 1.3%e; Core PCE Q/Q: 1.2% v 1.2%e
- (US) Jun Preliminary Markit US
Services PMI: 61.2 v 58.0e; Composite PMI: 61.1 v 58.4 prior
- (US) DOE Crude: +1.74M v -1Me; Gasoline: +710K v +1Me; Distillate: +1.2M v
- A modicum of volatility has returned
to stock markets over the last two sessions, while trading volumes have ticked
a bit higher. The VIX bounced back above 12 this morning, while trading in US
equities has been choppy, but firmly in positive territory. As of
writing, the DJIA is up 0.37%, the S&P500 is up 0.22% and the Nasdaq is up
- The second revision of the
weather-impacted first quarter GDP was worse than expected, at -2.9% final from
-1.0% preliminary. and the surprise relative to our forecast was all in the
health care estimates. Analysts point out that most components behaved
roughly as expected with the exception of the services component of PCE, which
was revised from a growth rate of +4.3% in the preliminary data to +1.5% this
morning, driven entirely by updated estimates of health care spending. The feds
had assumed medical services would be up sharply due to expanded access under
the ACA, but the latest quarterly services survey showed few signs of
acceleration. Meanwhile the May durables report was weak, with the exception of
the capital goods orders (non-defense, ex-aircraft).
- The front-month WTI contract has come off levels seen last night around
$107.50 to trade as low as $105.75 as officials
pooh-poohed headlines suggesting the Obama administration had cleared the way
for the first exports of US crude oil in 40 years. The Commerce Department
clarified that there has been no broad change in policy, pointing to the
fact that only two firms - Pioneer Natural Resources and Enterprise Products
Partners - were granted permission to export shale condensate, and only after
it had been run through a distillation tower to become a petroleum product. PXD
and EPD are up a few percent on the news, while refiners are tanking on the
story, with VLO down more than 8% and other refiners down 4-7%.
- The US Supreme Court has ruled
against IACI's Aereo streaming television service, stating that it is in
violation of broadcaster copyrights. The sweeping and definitive ruling
was split 6 to 3, and the majority opinion went out of its way to call out
Aereo as the equivalent of a cable company, not merely an equipment provider.
They also emphasized that the ruling does not endanger other technologies,
including cloud computing technology. IACI has lost 2% or so, while CBS is up
5% and DIS is up 1%.
- Monsanto beat earnings expectations
in its third quarter results and authorized a big new share buyback program.
Note that earnings were down 5% y/y and revenue missed expectations, dragged
lower by a 16% y/y decline in sales of genetically-engineered corn seeds.
Executives warned they still expect most growth to come from the seeds business
despite the industry's shift this year from corn to soybeans. MON is up 6.5%.
- 11:30 (US) Treasury to sell $13B in 2-Year Floating Rate Notes Reopening
- 12:00 (CA) Canada to sell 10-Year Bonds
- 13:00 (US) Treasury to sell $35B in 5-Year Notes
- 15:00 (AR) Argentina May Industrial Production M/M: No est v 0.9% prior; Y/Y:
-0.6%e v -4.0% prior
- 17:00 (CO) Colombia Apr Trade Balance: -$0.5Be v -$0.3B prior
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
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
Mon 10 Sep 2018
AA: Major, A: High, B: Medium
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.com
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.
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.