Forex Market Updates & Commentary

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• The Weekend Forex Commentary takes at technical at the key levels for the EURUSD, GBPUSD, USDJPY, USDCHF and USDCAD
• FXDD Forex Trading Webinar Tuesday April 20th
• Fed’s Hoenig on the wires
• ECBs Draghi on newswires and other thoughts on EU/Greece
• Forex Midday Report - April 16
• Forex QUICK: EURUSD watching the Dow but stays pressured
• Forex QUICK: USDJPY moves lower on back of Goldman Fraud charges
• SEC charges against Goldman send stocks lower and USDJPY lower in the process
• ECB Stark on the newswires
• Forex QUICK: USDCHF moves lower but tries to rebound after Michigan data

The Weekend Forex Commentary takes at technical at the key levels for the EURUSD, GBPUSD, USDJPY, USDCHF and USDCAD Posted: 16 Apr 2010 01:25 PM PDT

FXDD Forex Trading Webinar Tuesday April 20th Posted: 16 Apr 2010 11:28 AM PDT FXDD Forex Trading Webinar Tuesday April 20th, 2010 at 4pm New York Time - Sign up in advance.

Fed’s Hoenig on the wires Posted: 16 Apr 2010 10:46 AM PDT Fed should exit as deliberately as they can so as not to disrupt the markets with quick asset sales.  He also see high issues with commercial real estate. He says that he thinks the Fed should leave the option open for removing the Mortgage Back Securities from the balance sheet thru sales - not just amortization.  He also comments that he is reluctant to discuss Reserve Requirements now as it would increase uncertainty.  The Fed has indicated that they would drain reserves from the market by increasing the rate on reserve requirements so as to dissuade the banks from lending further.

ECBs Draghi on newswires and other thoughts on EU/Greece Posted: 16 Apr 2010 10:04 AM PDT Says “Greece Crisis will have posiitive solution” The weekend once again has the potential to lead to a gap move on the opening on Sunday as the Greek debt situation comes to a head.  Will Greece and the EU/IMF decide on a solution or will there not be a soluton   My thought is that they would not want to see the situation escalate further.  The bond yields and spread between Greek and German debt  continue to rise, and with debt to be rolled over in the next month,  the high yields along with indications that the likes of Pimco will not invest in the bonds, suggests that investor demand might be less than stellar. Moreover, high debt costs will only increase the austerity measures that will need to be enacted.  Something must give and I am not sure the EU is ready to throu in the towel just yet.  This leaves Greece coming to the IMF and EU for aid.  What that does to the market is always up to market interpretation.  However, in the short term the EURUSD is likely to get a bid, while longer term, it could potentially weaken the EU and could lead to other bailouts for countries like Portugal, Ireland or Spain.  This should keep the pair pressured longer term.  The one thing that is important to realize is that the event and weekend risk is once again elevated. So be aware and plan accordingly.

Forex Midday Report - April 16 Posted: 16 Apr 2010 09:30 AM PDT

Forex QUICK: EURUSD watching the Dow but stays pressured Posted: 16 Apr 2010 09:14 AM PDT

Forex QUICK: USDJPY moves lower on back of Goldman Fraud charges Posted: 16 Apr 2010 08:29 AM PDT

SEC charges against Goldman send stocks lower and USDJPY lower in the process Posted: 16 Apr 2010 08:13 AM PDT The SEC charges against Goldman for fruad on Subprime mortgages has the stock market worried.  The fall in the stock market is contributing to some selling in the USDJPY and the JPY crosses like EURJPY.  The USDJPY is testing the bottom side trendline at the 92.18 level.  Look for continued selling on abreak of this line. A break of the line will next target the 50% retracement of the move up from the early March lows to the April highs. That level comes in at 91.45. The 200 day MA comes in at the 91.37 level.

ECB Stark on the newswires Posted: 16 Apr 2010 07:38 AM PDT Says ECB will act in a timely manner on interest rates. Also says it is dangerous to keep interest rates too low for too long. He also says stagflation is possible in Germany It will be curious to see how the ECB juggles the interest rates with the debt crisis issues that member countries may face going forward. It would seem raising rates would run counter to providing aid to member countries as a result of sovereign debt problems.

Forex QUICK: USDCHF moves lower but tries to rebound after Michigan data Posted: 16 Apr 2010 07:35 AM PDT

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