Forex Market Updates & Commentary

ISM Stays Unchanged
Forex QUICK: USDJPY sees flight into JPY. 200 hour MA tested
ISM Data Expectations a Touch Better
Forex Morning Report - May 5th
Forex QUICK:EURUSD in freefall as key support gives way.
Euro Libor Rates under rising indicative of tightening credit
New Zealand Reserve Bank Governor Alan Bollard
Next FXDD Webinar Thursday May 6th
Forex QUICK:EURUSD moves down to key support at 1.2885 as selling continues
ADP Employment Data Positive
Moody’s says Portugals AA2 rating on watch
ADP Employment Change Data to be Released at 8:15
Forex QUICK: Economic Releases and Events for May 5th
Rebroadcast of Tuesday’s Webinar
NY Opening Forex Commentary for May 5th is available for viewing

ISM Stays Unchanged

Posted: 05 May 2010 07:03 AM PDT

ISM Non-Manf. Composite: Survey: 56.0 Actual:55.4 Prior:55.4

The ISM data has remained unchanged as the prior figure of 55.4 is the same as our actual figure.

Forex QUICK: USDJPY sees flight into JPY. 200 hour MA tested

Posted: 05 May 2010 06:55 AM PDT

Forex QUICK: USDJPY sees flight into JPY. 200 hour MA tested

ISM Data Expectations a Touch Better

Posted: 05 May 2010 06:23 AM PDT

Forex Morning Report - May 5th

Posted: 05 May 2010 06:22 AM PDT

Watch the latest FXDD news broadcast

Forex QUICK:EURUSD in freefall as key support gives way.

Posted: 05 May 2010 06:21 AM PDT

Forex QUICK:EURUSD in freefall as key support gives way.

Euro Libor Rates under rising indicative of tightening credit

Posted: 05 May 2010 05:58 AM PDT

Front Eurodollar interest rate contract is under pressure. Down 7 bps, implying LIBOR setting at 58 bps by the June IMM. There is a sense of panic that is settling in the EUROzone and in the money markets.

New Zealand Reserve Bank Governor Alan Bollard

Posted: 05 May 2010 05:50 AM PDT

New Zealand Reserve Bank Governor Alan Bollard will speak on the outlook for the New Zealand economy tomorrow at 10 a.m. local time (6 PM NY time). His comments expand on the bank's statement on April 29, the central bank said.

The Central Bank has not tightened as of yet. At the last meeting they indicated that tightening was likely to start but specifically when is unclear. They also commented that the overnight cash rate (OCR) would likely not need to increased as much as in the past.

"As previously indicated, we expect to begin removing policy stimulus over the coming months, provided the economy continues to evolve as projected.

"The increased wedge between the OCR and lending rates, as well as a steeply positive-sloped interest rate curve, is expected to make OCR increases more effective than in the past. Accordingly, these factors should reduce the extent to which the OCR will need to be increased relative to previous cycles."

Next FXDD Webinar Thursday May 6th

Posted: 05 May 2010 05:44 AM PDT

Our next Webinar takes place at 4pm NYT on Thursday May 6th 2010. Please register in advance >> here

Forex QUICK:EURUSD moves down to key support at 1.2885 as selling continues

Posted: 05 May 2010 05:42 AM PDT

ADP Employment Data Positive

Posted: 05 May 2010 05:16 AM PDT

ADP Employment Change: Survey: 30K Actual:32K Prior:-23K

The number was right near the survey and does hit a positive note for the first time since January of 2008.

Moody’s says Portugals AA2 rating on watch

Posted: 05 May 2010 05:15 AM PDT

Moody’s says Portugals AA2 rating on watch for possible downgrade.

On April 28th S&P lowered Portugals rating to A+ to A-

ADP Employment Change Data to be Released at 8:15

Posted: 05 May 2010 05:05 AM PDT

ADP Employment change is expected to have a positive number for the first time since January of 2008. We have a survey of 30K expected vs a prior number of -23K.

Forex QUICK: Economic Releases and Events for May 5th

Posted: 05 May 2010 05:01 AM PDT

Rebroadcast of Tuesday’s Webinar

Posted: 05 May 2010 04:59 AM PDT