Forex Market Updates & Commentary

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• Forex QUICK:EURUSD update after comments from Euro officials
• Trichet and Straus Kahn on news wires.
• Forex Morning Report - April 28
• Germany’s Schaeuble says..
• Forex QUICK: EURUSD Tests 1.3260-68 resistance
• Greek aid package worth 100 to 120 billion over 3 years
• Forex QUICK: USDCHF tests Fibonacci support at 1.0823
• Rumored 100 billion relief package for Greece
• Forex QUICK: GBPUSD tests upside resistance at 1.5216 and holds
• Rebroadcast of Tuesday’s webinar - watch now
• Bobbys Corner-Open Market-April.28.2010
• Forex QUICK: EURUSD tests top again
• The NY Opening Forex Commentary is available for viewing.
• EU Commission Comments…..
• Cable trading around 50.0% daily retracement

Forex QUICK:EURUSD update after comments from Euro officials Posted: 28 Apr 2010 06:46 AM PDT Forex QUICK:EURUSD update after comments from Euro officials

Trichet and Straus Kahn on news wires. Posted: 28 Apr 2010 06:25 AM PDT Important we have talks going on… Assumption is talks will end in days Confident we will see a good conclusion but decision must be made quickly. It all hinges on German Parliament…. I am not sure getting painted in the corner is such a good idea…. IMF Straus Kahn says negotiations with Greece difficult as deal will have pain. Not fixing Greece will hurt EU. Confidence is important. German Finance Minister Schaeuble says this is not just a Greek problem but a problem for Europe and Germany. This is about the stability of our currency It all sounds like deju vu all over again except they added a couple years and doubled the billions needed. At the end of the day Greek yields need to come down so they can fund themselves. THey will need to make austerity measures that could result in taking away pensions, lowering public service jobs. They will need to somehow sell government property and busineses into the private sector and hope for global economic expansion including increased tourists to a county which may not like the new state of affairs.

Forex Morning Report - April 28 Posted: 28 Apr 2010 06:23 AM PDT

Germany’s Schaeuble says.. Posted: 28 Apr 2010 06:22 AM PDT “Germany will help aid Greece as a last resort”. …As the politics enter the picture again. He adds “German Upper House may debate greek aid on May 7th”

Forex QUICK: EURUSD Tests 1.3260-68 resistance Posted: 28 Apr 2010 06:01 AM PDT Forex QUICK: EURUSD Tests 1.3260-68 resistance

Greek aid package worth 100 to 120 billion over 3 years Posted: 28 Apr 2010 05:55 AM PDT As reported by Reuters from Straus Kahn from the IMF

Forex QUICK: USDCHF tests Fibonacci support at 1.0823 Posted: 28 Apr 2010 05:49 AM PDT

Rumored 100 billion relief package for Greece Posted: 28 Apr 2010 05:41 AM PDT Not confirmed, but may have contributed to the gains.

Forex QUICK: GBPUSD tests upside resistance at 1.5216 and holds Posted: 28 Apr 2010 05:38 AM PDT Forex QUICK: GBPUSD tests upside resistance at 1.5216 and holds

Rebroadcast of Tuesday’s webinar - watch now Posted: 28 Apr 2010 05:25 AM PDT The Rebroadcast of FXDD’s Tuesday webinar is now ready. >>Watch the rebroadcast here

Bobbys Corner-Open Market-April.28.2010 Posted: 28 Apr 2010 05:09 AM PDT Good Morning: Europe’s continuing debt crisis is worsening as Greece was downgraded to junk status, and the cost of borrowing rose for the other PIGS countries (Italy,Portugal,Spain, and Ireland).  In the meantime, German Chancellor Terkel delays approval of the Greek rescue package. The Euro traded to a near one year low against the USD as speculation mounts that the EU/IMF bailout for Greece will be insufficient, and that the sovereign debt issues will spread to neighboring EU countries.  World equity markets dropped after the Dow lost over 200 pts on Tuesday.  US Futures are higher at this time.  Commodities also fell, as concerns that demand from Europe will drop amid their debt crisis. Speculation that the grilling that Goldman Sachs executives took from the US Senate yesterday may be the beginning of US regulators uncovering and investigating “questionable” practices on Wall Street.  There is also speculation that the US Senate and other US politicians are using these crisises to their own advantage-as they seek votes in the mid term elections. Oil:$82.29                                                Gold:$1164.90 2:15 PM- FOMC interest rate decision, and statement. HAVE A GREAT DAY & GOOD LUCK

Forex QUICK: EURUSD tests top again Posted: 28 Apr 2010 04:55 AM PDT Forex QUICK: EURUSD tests top again

The NY Opening Forex Commentary is available for viewing. Posted: 28 Apr 2010 04:34 AM PDT The Morning Report focuses on the EURUSD and major currency pairs.

EU Commission Comments….. Posted: 28 Apr 2010 03:27 AM PDT The EU Commission has issued the following statements: Making solid progress with ECB, IMF, and Greece on the Greek aid program; expects talks to be completed in the coming days. Watching the behavior of the financial markets and players. The member states are using all possibilities to speed up measures for funds disbursement. We will be ready to meet Greek needs. Portugal has an ambitious fiscal program; may need additional measures.  Greek debt restructuring is not an option because of political reasons. Does not think that ECB has expressed opinion on intervening in bond markets.

Cable trading around 50.0% daily retracement Posted: 28 Apr 2010 02:53 AM PDT After trading over 100 points lower so far today, the GBP/USD pair is now trading around the 50% daily retracement level which comes in at 1.5159 with a session low of 1.5149. The pair has not traded this low since April 8th. The next daily target to the topside is 1.5244 (38.2%) and 1.5074 (61.8%) to the downside. The selling off of the pair today shows that the GBP is not immune to the current economic unrest in Europe.

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