Thursday, April 29, 2010

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Forex QUICK: USDCHF tests trendline 4 times this morning. Key level to watch today

Posted: 29 Apr 2010 06:20 AM PDT

Forex QUICK: USDCHF tests trendline 4 times this morning. Key level to watch today

Forex Morning Report - April 29

Posted: 29 Apr 2010 06:15 AM PDT

FXDD Forex Morning Report - Watch Now

Forex QUICK: EURUSD tests 1.3269 level. Will it hold again?

Posted: 29 Apr 2010 06:13 AM PDT

Forex QUICK: EURUSD tests 1.3269 level. Will it hold again?

Forex QUICK GBPUSD moves above 38.2% Fibo Retracement. Does it have the momentum?

Posted: 29 Apr 2010 05:48 AM PDT

Forex QUICK GBPUSD moves above 38.2% Fibo Retracement. Does it have the momentum?

Initial Claims as expected at low end of range

Posted: 29 Apr 2010 05:36 AM PDT

Initial Claims come in as expected but toward bottom of the range

US Jobless Claims come in same as expected

Posted: 29 Apr 2010 05:31 AM PDT

Claims come in at 448K, this is as expected. (estimate 445K)

Continuing Claims come in at 4645 vs. 4618 which is a bit worse than expected

Bobbys Corner-Open Market-April.29.2010

Posted: 29 Apr 2010 05:18 AM PDT

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

With the EU & IMF nearing a final agreement in the bailout for Greece, the Euro bounced back from near 1 year low yesterday.  Data shows that confidence in the region has improved, and German unemployment fell at the fastest pace in more than 2 years.
Yesterday’s FOMC statement stated that the labor market is “beginning to improve”, and that they intend to keep interest rates low.

Asian equity markets fell, and European markets are higher.  US Futures are also pointing to a higher opening this morning.

Oil:$84.11                                                           Gold:$1167.70

TIME FOR  EST PRIOR
8:30A.M. CHICAGO FED NAT’L. ACTIVITY INDEX MARCH -0.20 -0.64
8:30A.M. INITIAL JOBLESS CLAIMS 24-Apr 445K 456K
8:30A.M. CONTINUING CLAIMS  17-Apr 4625K 4646K

HAVE A GREAT DAY & GOOD LUCK

Eur/Usd approaching 100 hour M/A

Posted: 29 Apr 2010 03:25 AM PDT

The Eur/Usd bearishness seen in recent days may have ended as the pair is approaching its 100 hour M/A at 1.3282. This all on the heels of a statement by German SPD Leader Steineier who says the party is ready to allow Greek aid decision before May 9 election. The pair has taken a breather after a torrid run to the upside, possibly in light of  the position of its 100 hour M/A. This level should provide resistance, with further resistance at 1.3300, the 61.8% fibo.

The market is extremely news driven at the moment, with economic data taking a backseat to political commentary on the economic state of Europe. News pertaining to Greece, Spain and Portugal takes the forefront.

vincent_fx00064

Euro rises after statements out of Germany…

Posted: 29 Apr 2010 03:16 AM PDT

The EUR rose 20 points versus the USD to a new session high of 1.3277 after the German SPD leader said that they are ready to allow a Greek aid decision before May 9th.

The pair, which has tested the 50.0% retracement level 3 times in the last two days on the hourly chart is testing the level once again. A close above this line may be a bullish signal for the pair, which is now approaching the 100 hour moving average at 1.3282. If resistance is found at the 50.0% line, the downside target is the 38.2% line at 1.3229.

euro

Eurozone M3 Money Supply/Private Loans

Posted: 29 Apr 2010 01:05 AM PDT

The euro traded slightly higher after April M3 money supply came in as expected at -0.1% and private loans (y/y) was slightly worse at -0.2%; the survey was -0.1%.

German Unemployment Change

Posted: 29 Apr 2010 01:02 AM PDT

Germany’s April unemployment change, expected at -10K, came in much better at -68K. On the back of this release the GBP traded nearly 20 points higher against both the USD and JPY.

The German Labour Office Chief says that the decline in the April jobless total is due to the strong pickup in the spring.

Eur/Usd turns bearish, again

Posted: 29 Apr 2010 12:27 AM PDT

After gaining over 100 points from yesterday’s low of 1.3114, Eur/Usd appears to be on verge of another bearish move. The pair ran into hourly resistance at the 38.2% fibo (1.3229) of move down from 1.3415. 1.3480-90 should lend light support , with stronger support down at 1.3140-45.

vincent_fx00063

UK Nationwide HPI m/m

Posted: 28 Apr 2010 11:04 PM PDT

The market showed a limited reaction after UK HPI (m/m) came in at 1.0%; better than its forecast of 0.4% and prior reading of 0.7%

This was the second consecutive monthly rise for UK house prices, bringing the annual rate of increase into double digits for the first time in nearly three years.

Weber on the wires….

Posted: 28 Apr 2010 10:48 PM PDT

Bundesbank President Axel Weber made the following comments:

  • Past Greek behavior and current economic situation is a burden for the euro.
  • European institutions are in a position to ensure the stability of the euro.
  • Aid for Greece is the best way to prevent the crisis from spreading to other euro zone members.
  • Greece can turn the corner if it moves decisively and credibly with reforms.
  • It is counter productive to start discussions of central bank role in Greek rescue.
  • The Greek crisis shows that fiscal rules in the EU must be substantially strengthened.
  • Expulsion of Greece from the euro zone is legally not possible.

4-29 Economic Calendar

Posted: 28 Apr 2010 09:02 PM PDT

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