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FINANCIAL AND FOREX INFO
FOREX DAILY NEWS
News for forex traders
If you're a forex trader, you might be interested in two short video interviews with NFA President Dan Roth. The interviews were conducted by MoneyShow, Inc. MoneyShow produces a wide range of programs, including the Traders Expo, The Forex Trading Expo and The Financial Advisor Symposium. In 2006, MoneyShow launched MoneyShow.com, providing live and on-demand access to presentations featuring advice, strategies, recommendations and education for individual investors, active traders and financial advisors.
In the first interview, "Before You Make a Spot Forex Trade", Mr. Roth explains how the regulations have changed in the forex markets and names key considerations that traders must be aware of. In the second interview, "Before You Start FX Trading", he poses some key questions that beginners must consider before they even open their first trading account.
In related forex news, NFA will again this year participate in the Forex Trading Expo, held on September 23-25 at Caesar's Palace in Las Vegas. NFA will sponsor an information booth in the exhibit hall, where staff will distribute forex education brochures and discuss how to conduct online background checks of forex firms and brokers.
"Investors attending the Expo spend a lot of time learning forex trading strategies," says Larry Dyekman, director of Communications and Education at NFA. "We give them the opportunity to spend an equal amount of time learning about the risks involved in trading forex and the firms who are vying for their money."
For more information on the expo, visit the expo's website.
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Forex Market Update | Fri Sep 3 09:02 2010 |
Economic News
Eurozone retail sales volume increased in July for the third straight month, largely led by sales of food. Full Article
South Korea's gross domestic product expanded 1.4 percent in the second quarter of 2010 compared to the previous quarter, the Bank of Korea said on Friday. Full Article
Switzerland's consumer prices remained unchanged in August from the previous month, data from the Federal Statistical Office showed on Friday. Full Article
Norway's unemployment rate eased in August for the first time in three months. Full Article
Employment in the month of August fell by much less than economists had been expecting, according to a report released by the Labor Department on Friday, with the report also showing a much smaller than previously reported drop in employment in July. Full Article
Forex Top Story
Capital expenditure by Japanese companies continued to decline in the June quarter extending the current sequence of decline to 39 months, official figures showed on Friday. Full Article
Indonesia's central bank on Friday decided to raise banks' reserve requirement ratio in a bid to curb lending amid rising inflation. It also left its benchmark interest rate unchanged at 6.5% as expected. Full Article
Eurozone private sector continued its expansion with services activity picking up to a three-month high in August. Full Article
U.K. service sector recovery continued to loss momentum with growth flagging to a sixteen-month low in August as employers shed more jobs owing to uncertain economic outlook amid tough austerity measures and the value added tax hike. Full Article
Commodities
The price of gold was steady above $1,250 Friday morning as all eyes were set on the key employment data from the U.S. Full Article
The price of crude oil was easing Friday morning as traders turned cautious ahead of the key employment data from the U.S. Full Article
Political News
A high-profile Middle East direct peace talks that were revived after nearly two years in Washington on Thursday decided to hold regular follow-up meetings every two weeks. Full Article
Romanian Prime Minister Emil Boc has made a major reshuffle of his Cabinet aimed at continuing reforms and revitalizing the economy. Full Article
Israel has outrightly rejected the International Atomic Energy Agency's (IAEA) attempts to gain access to its nuclear program and join the global campaign to check the proliferation of nuclear weapons, the IAEA said in a report on Friday. Full Article
American troops in Afghanistan will continue to fight Taliban militants even after the scheduled date for the drawdown, reports quoting U.S. Defense Secretary Robert Gates said. Full Article
Japan on Friday slapped additional sanctions on Iran over its disputed nuclear program, reports said. Full Article
Currency Alerts
The Australian dollar weakened against its major rivals on Friday in Asia as markets participants are cautiously awaiting the job report from U.S.. Full Article
The pound that strengthened against other major currencies in early European deals on Friday on strong equities pared its gains after a report showed at 4:30 am ET that U.K.'s services PMI dropped more than expected in August. Full Article
Friday in early European deals, the euro strengthened against other major currencies as equities rose ahead of key U.S. jobs data due later in the day. The euro jumped to a 2-day high against the yen. Full Article
General News
Tropical storm Hurricane Earl has been downgraded to a Category Two Storm, with an hourly top windspeed of 165 kilometers, as it was nearing the coast of North Carolina on the Atlantic coast, reports said late Thursday. Full Article
Russian Prime Minister Vladimir Putin has said that an year-long ban on the export of grain and other agriculture products made from grain will remain in force at least until the harvest of next year. Full Article
Authorities in the Philippines have begun a three-day investigation into a botched hostage rescue operation in which eight Hong Kong tourists on a bus were killed in the capital Manila. Full Article
In a national address highlighting Mexico's achievements in fighting organized crime, President Felipe Calderon said drug-cartels were turning to extreme violence in the wake of the crackdown on drugs-smuggling into the United States. Full Article
Ohio Governor Ted Strickland on Thursday commuted the death sentence of a triple murderer to life imprisonment without the possibility for parole due to "unanswered questions" in the case. Full Article
NASDAQ
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Economic Calendar
| time (et) | report | period | Actual | Consensus forecast |
previous |
|---|---|---|---|---|---|
| MONDAY, AUG. 23 | |||||
| None scheduled | |||||
| Tuesday, AUG. 24 | |||||
| 10 am | Existing home sales | July | 4.70 mln | 5.37 mln | |
| Wednesday, AUG. 25 | |||||
| 8:30 am | Durable goods orders | July | 2.7% | -1.0% | |
| 10 am | New home sales | July | 339,000 | 330,000 | |
| 10 am | FHFA home prices | June | N/A | 0.5% | |
| Thursday, AUG. 26 | |||||
| 8:30 am | Jobless claims | 8/21 | 490,000 | 500,000 | |
| FRIDAY, Aug. 27 | |||||
| 8:30 am | GDP revision | 2Q | 1.2% | 2.4% | |
| 10 am | Consumer sentiment | Aug. | 69.0 | 69.6 | |
|
| time (et) | report | period | Actual | CONSENSUS forecast |
previous |
|---|---|---|---|---|---|
| MONDAY, AUG. 30 | |||||
| 8:30 am | Personal income | July | 0.2% | 0.0% | |
| 8:30 am | Consumer spending | July | 0.3% | 0.0% | |
| Tuesday, AUG. 31 | |||||
| 9 am | Case-Shiller home prices | June | N/A | 1.3% | |
| 9:45 am | Chicago PMI | Aug. | 59.0% | 62.3% | |
| 10 am | Consumer confidence | Aug. | 51.0 | 50.4 | |
| Wednesday, SEPT. 1 | |||||
| 8:15 am | ADP employment | Aug. | N/A | 42,000 | |
| 10 am | ISM | Aug. | 53.5% | 55.5% | |
| 10 am | Construction spending | July | -0.5% | 0.1% | |
| TBA | Motor vehicle sales | Aug. | 11.6 mln | 11.5 mln | |
| Thursday, SEPT.. 2 | |||||
| 8:30 am | Jobless claims | 8/28 | N/A | N/A | |
| 8:30 am | Productivity | 2Q | -1.9% | -1.0% | |
| 10 am | Factory orders | July | 1.1% | -1.2% | |
| 10 am | Pending home sales | July | -1.0% | -2.6% | |
| FRIDAY, SEPT. 3 | |||||
| 8:30 am | Nonfarm payrolls | Aug. | -106,000 | -131,000 | |
| 8:30 am | Private payrolls | Aug. | 45,000 | 71,000 | |
| 8:30 am | Unemployment rate | Aug. | 9.6% | 9.5% | |
| 8:30 am | Average hourly earnings | Aug. | 0.1% | 0.2% | |
| 10 am | ISM services | Aug. | 53.8% | 54.3% | |
| Long-term GDP forecasts |
| DATE | report | period | forecast | previous |
|---|---|---|---|---|
| Oct. 29 | GDP | 3Q | 2.5% | 2.4% (2Q) |
| Jan. 2011 | GDP | 4Q | 2.5% | 2.4% (2Q) |
| April 2011 | GDP | 1Q | 2.5% | 2.4% (2Q) |
| Federal funds forecasts |
| DATE | forecast | CURRENT |
|---|---|---|
| Sept. 21 | 0% to 0.25% | 0% to 0.25% |
| Nov. 3 | 0% to 0.25% | 0% to 0.25% |
| Jan. 26 | 0% to 0.25% | 0% to 0.25% |
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Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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