Forex News Blog
Back to The Headlines
Share This Story
Trade the News - U.S. Market Update U.S. Market
Dow -41 S&P -9 NASDAQ -16
- U.S. Indices began the week on the
upside looking to consolidate Friday's upside move. But as the morning has
worn on the same underlying themes seem to have sent equities lower along
with U.S. Treasury yields. Interest rate sensitive names have been weak
from the get go after Citigroup cut is rating of HSBC bank along with
various home building names. XLF -1.7% -2.7% Citigrop itself was the
subject of another worrisome WSJ article indicating the Co. may have to
take $41B more in CDO related assets onto its balance sheet. The energy
complex is adding to today's losses as Jan crude gives back 1.2% to $97 on
reports of an imminent Saudi production increase. The OIH tested its 50-
day moving average early in the session but has since backed off into
negative territory. Managed care names are one beneficiary of today's tape.
UNH +0.6% AET +3.3% CI +2.5% HUM +3.4% The 10-year note future has
rallied more than half a point from where it entered floor trade. The
yield has fallen back below 4% to 3.97%. The long maturities are seeing
better buying after the NY Fed announced plans for $8B repo settling Nov
28th and maturing in January.
- In currencies, the overall tone
was one of consolidation for the USD and JPY as they piggybacked the global
equity and fixed-income price action. The undertones of credit market
concerns remained on the front burner and central banks continue to take
notice. An analyst note from Goldman Sachs help move the USD off session
lows (and European equities off their best levels) when the firm noted that
HSBC could face up to an additional $12B in subprime-related write offs.
The LIBOR fixing rates for Monday again highlighted the continuing stress
of the short term funding operations. Sterling 2 month rates remained at
fresh 6 Â½ year highs. The 3-month LIBOR for the Euro, USD and GBP remain at
elevated levels seem from late September. Citigroup economist noted that
the major central banks seem poised to engage an easing policy stance,
noting Fed may be lowering by 100bp, Citing US housing situation, higher
oil prices and weakening USD. Comments in early European trading by the
Swiss central bank stressed that the SNB did expect this extent of the sub-
prime contagion. CNBC reported that Citgroup is facing large job cuts in
the coming months as a result of subprime woes. NY Fed noted it would
raise borrowing limits of securities lending from 20% to 25%. In central
bank speak; the ECB's Papademos noted that the Euro-Zone currently has low
inflation and that long term expectations remained anchored at this time.
He later touted the standard ECB view that additional data is necessary
before deciding any next rate move. Lastly Papdemos noted that price
stability remains the central bank's overall objective. BOE's Bean says
hitting inflation target is not an impossible task, says MPC will do what
is necessary to keep CPI on track. EUR/USD at 1.4850, little changed from
its opening levels in Tokyo. GBP/JPY hovering below its 100 week moving
average of 225.04. The USD/JPY holding below its former subprime low of 108.
90 area. FTSE off 0.9% at 6,207; CAC lower by 0.8% at 5,476 and DAX
softer by 0.4% at 7,580
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Register To Test Your Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 23 October 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.
- POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.
- POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.
- POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.
- POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.
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..