Forex Market Updates & Commentary

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• New Home Sales come in much better than expected
• EURUSD moves higher pre-New Home Sales data.
• NY Morning Forex Commentary is available for viewing
• Germans Merkel on the newswires
• Spain says it will support the Greek aid package
• ECB Weber on the newswires
• Forex QUICK: EURUSD loses the upward momentum as focus switches to stronger US data
• Forex QUICK: Canada data today pushes $USDCAD up toward 1.0060 resistance level
• Durable Goods Orders and Durables Ex Transportation
• Durable Goods better than expected. Canada Retail sales worse than expected
• Economic releases and events for April 23rd
• Bobbys Corner-Open Market-April.23.2020
• The NY Opening Forex Commentary is available for viewing
• Source says some Fed officials are in favor of selling assets
• Canada CPI

New Home Sales come in much better than expected Posted: 23 Apr 2010 07:01 AM PDT The New Home Sales came in better than expected at  411K from a prior 308K.  This is a lot stronger than the expectations at 325k. New Home Sales (m/m)  came in at 26.9% from a survey of 5.5%. Largest rise since April of 1963.

EURUSD moves higher pre-New Home Sales data. Posted: 23 Apr 2010 06:54 AM PDT …no news. EURGBP spikes higher as well.

NY Morning Forex Commentary is available for viewing Posted: 23 Apr 2010 06:41 AM PDT Report looks at EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD and NZDUSD.

Germans Merkel on the newswires Posted: 23 Apr 2010 06:37 AM PDT Says IMF and ECB must assess Greek program before aid flow.

Spain says it will support the Greek aid package Posted: 23 Apr 2010 06:26 AM PDT The question is if they do, where will they get the funds to bailout. Yesterday it was reported that Spains government to GDP ratio was 11.2% which is not much better than Greeces 14% for 2009. This is the rub which should continue to weigh on the EURUSD.

ECB Weber on the newswires Posted: 23 Apr 2010 06:16 AM PDT Says Euro does not have a problem because of Greece. He also adds that the recovery of the world economy has strengthened and the G20 would discuss the Yuan and global imbalances.

Forex QUICK: EURUSD loses the upward momentum as focus switches to stronger US data Posted: 23 Apr 2010 05:50 AM PDT

Forex QUICK: Canada data today pushes $USDCAD up toward 1.0060 resistance level Posted: 23 Apr 2010 05:43 AM PDT

Durable Goods Orders and Durables Ex Transportation Posted: 23 Apr 2010 05:36 AM PDT The following are the readings from Durable Goods orders and Durables Ex Transportation Durable Goods:                               Survey: 0.2%   Actual: -1.3%   Prior: 0.5% Durables Ex Transportation:    Survey: 0.2%   Actual:   0.2%   Prior: 0.4%

Durable Goods better than expected. Canada Retail sales worse than expected Posted: 23 Apr 2010 05:34 AM PDT

Economic releases and events for April 23rd Posted: 23 Apr 2010 05:16 AM PDT

Bobbys Corner-Open Market-April.23.2020 Posted: 23 Apr 2010 05:08 AM PDT Good Morning: The Euro rebounded from a one year low vs USD after Greece announces that it needs to accept the emergency funding being offered by the EU and IMF.  The Euro rose as concerns that Greece will be able to repay short term debt eased. The IFO report on German business confidence also rose which helped the Euro too. The GBP lost ground as data from the UK showed that the GDP for Q1 rose .2%, half of what was expected (.4%). Asian equity markets fell-but Europe was higher,  With Volvo posting an unexpected profit, Adidas raising earnings forecast, and better than expected data from Germany’s IFO-the equity markets stayed positive.  US Futures are also pointing to a positive opening in NY this morning. Oil:$83.59                                  Gold:$1140.50 TIME FOR  EST PRIOR       REV. 8:30A.M. DURABLE GOODS ORDERS  MAR. 0.20% 0.50% 0.90% 8:30A.M. DURABLES EX TRANSPORTATION MAR. 0.70% 0.90% 1.40% 10:00A.M. NEW HOME SALES  MAR. 325K 308K 10:00A.M. NEW HOME SALES MoM MAR. 5.50% -2.20%   HAVE A GREAT DAY-WEEKEND & GOOD LUCK

The NY Opening Forex Commentary is available for viewing Posted: 23 Apr 2010 04:51 AM PDT

Source says some Fed officials are in favor of selling assets Posted: 23 Apr 2010 04:43 AM PDT The Feds Balance Sheet is still bloated with assets well above what is normal due to the quantitative measures enacted to aid the financial markets over the last few years. CNBC reports that there are up to 6 Fed members who are looking to selling some of the assets and start moving the Feds balance sheet to more normal levels. This has led to a move higher in the USDJPY as a result.

Canada CPI Posted: 23 Apr 2010 04:03 AM PDT The following are the readings from Canada’s CPI release. Core CPI (m/m) - Survey: 0.1%   Actual: -0.2%   Prior: 0.7% CPI (m/m) - Survey: 0.2%   Actual: 0.2%   Prior: 0.4%

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