Monday, April 19, 2010

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Us Leading Index rose by 1.4%

Posted: 19 Apr 2010 07:02 AM PDT

fxdd_reg_pic0061
This is greater than the 1% exectation and is indicative of future economic growth.

Forex QUICK: USDCHF breaking through intraday support

Posted: 19 Apr 2010 06:56 AM PDT

Forex Morning Report - April 19

Posted: 19 Apr 2010 06:30 AM PDT

Greek funding buzz

Posted: 19 Apr 2010 06:00 AM PDT

There are reports in the market that the financing of Greece plan would be split through the EU member countries each contributing via a proportion of their population. The countries like Portugal (9.4% of GDP) , Spain and Italy who are all above the 3% debt to GDP limit (Greece is at 12.9%) proposed by the EU would likely not be able to participate. This would put the burden on strong countries like Germany who may have difficulty swallowing that pill of bailing out the weak sisters. The EU members were scheduled to meet to hammer out the details of the rescue package today but with the no fly restrictions, the meetings have been postponed. There are talks that it will take place in the next day or two even if it has to take place via satellite. It will be interesting to see what type of rabbit they can pull out of the hat but the risk is that talk of a contagion continues to increase.

International Securities Transactions come in less than expected

Posted: 19 Apr 2010 05:36 AM PDT

The total purchases of domestic stocks, bonds, and money-market assets purchased by foreigners during February came in at $6.72 billion.

Bobbys Corner-Open Market-April.19.2010

Posted: 19 Apr 2010 05:28 AM PDT

bob-slade-forex-trading-6-150x200Good Morning:

The USD and JPY were both stronger in overnight trading-as Greece’s continued debt issues still are on the front page-and will be for the immediate future.  The Greece/EU/IMF meeting that was scheduled this week-has been put off due to the volcanic ash that has closed airspace throughout Europe.  The yield spread between German and Greek bonds (the premium investors seek to purchase Greek bonds) is 455 basis points- the spread peaked at 470 basis points on April 8.

World equity markets fell, and US Futures are also lower this morning.
Calls for regulatory probes on Goldman Sachs, along with Airlines shares taking a beating, as volcanic ash from Iceland keeps airspace closed for a fifth day.
Commodities are also trading lower.

Oil:$81.02                                     Gold;$1130.40

TIME FOR  EST PRIOR    REV.
8:30A.M.  HOUSING STARTS MAR. 610K 575K
8:30A.M.  HOUSING STARTS MoM MAR. 6.10% -5.90%
8:30A.M.  BUILDING PERMITS MAR. 625K 612K      637K
8:30A.M.  BUILDING PERMITS MoM MAR. -1.90% -1.60% 2.40%
9:55A.M. U.OF MICHIGAN CONFIDENCE  APRIL 75.O 73.6O  

HAVE A GREAT DAY & GOOD LUCK

Forex QUICK: EURUSD looks weak below the 1.3437 area

Posted: 19 Apr 2010 05:28 AM PDT

Forex QUICK: USDJPY trying to choose direction. Stocks will be eyed

Posted: 19 Apr 2010 05:19 AM PDT

Citicorp EPS 1st quarter $0.15 vs estimate of $0.00

Posted: 19 Apr 2010 05:02 AM PDT

Revenues $25.4 billion estimate vs 20.766 billion estimate. 

Nasdaq futures are down 5.5
S&P is down -6.0
Oil is down -$2.14
Gold is down $5.70

US Leading Indicators to be released at 10:00 AM

Posted: 19 Apr 2010 04:50 AM PDT

fxdd_reg_pic0057

The only US release to day will be the Leading Indicators for the month of March. The expectation is for a gain of 1.0% versus a gain 0.1%. The index is a compilation of 10 economic indicators including employment, production, new orders, consumer confidence, housing, stock market prices, money supply, and interest rates. 

Bernanke is scheduled to deliver the opening address at the Financial Literacy and Education Summit in Chicago Illinois.  He may have some comments with regard to the economy, but it is not likely.

In Canada the International Securites Transactions will be released at 8:30 AM. The expectations is for  9.0B vs 11.83 B last month.  This indicator measures the total value of domestic stocks, bonds, and money-market assets purchased by foreigners.

April 19th 2010 NY Opening Forex Commentary is available for viewing

Posted: 19 Apr 2010 04:30 AM PDT

USD/JPY Moving Towards 200 Day Moving Average

Posted: 19 Apr 2010 02:30 AM PDT

The USD/JPY, which has been trading lower over the past week, is heading towards the 200 day moving average, which comes in at 91.36; the pair has not traded below this line since March 24. The 50.0% retracement is also found in that area at 91.45. If it can close below the 200 day moving average, it may act as a signal for the continuation of bearish trading for the pair. Additionally, the 61.8% retracement and 100 hour moving average come in at 90.66 and 90.77; if there is a break through the 200 hour average, there may be found support found in this area.

 

4-18-usdjpy1

Eur/Jpy looking bearish

Posted: 19 Apr 2010 12:02 AM PDT

We observed last week that a close below the 100 day M/A would validate a bearish outlook for Eur/Jpy for upcoming days. Downward pressure remains the theme as the pair is currently trading below the 61.8% fibo of the move up from 121.41 beginning March 24. There may be some light support around 122.90-00 level, but the overall outlook remains bearish with a move down to 121.41 not out of the question for upcoming sessions. If the pair reverses course the 61.8% fibo (123.92) should act as resistance.

vincent_fx00056

Japanese Household Confidence

Posted: 18 Apr 2010 10:37 PM PDT

The market was unchanged after a slightly better than expected Japanese household confidence which read 40.9 versus its forecast of 40.2 and prior reading of 39.8.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)