Forex Market Updates & Commentary

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• Forex QUICK: EURUSD pressured below trendline support at 1.2686 area
• Focus turns to the stock market problems and fingerpointing
• Forex QUICK: GBPUSD trying to keep an intraday bullish bias after last nights sharp fall
• Forex Morning Report - May 7
• Forex QUICK: EURUSD stays in control post the Employment report
• Forex QUICK: US Unemployment comes in better but Unemployment Rate rises
• Unemployment Rate Worse than Expected but Nonfarm Payroll Number much higher
• Economic Data For May 7
• NY Opening Forex Commentary reviews all the action and key levels to watch today
• Forex Quick: Canadian Unemployment surprises to the upside. USDCAD drops to 100 day MA
• Canadian Unemployment
• German Industrial Production
• Eur/Gbp above daily channel; not far from 100 day M/A
• Political uncertainty in UK; sterling falls
• UK PPI

Forex QUICK: EURUSD pressured below trendline support at 1.2686 area Posted: 07 May 2010 07:09 AM PDT

Focus turns to the stock market problems and fingerpointing Posted: 07 May 2010 06:21 AM PDT With all that has happened this week, the market news is taking a break from discussing the news and is focusing on the stock market technology meltdown. Sure there is UK election, EU, Greece, Spain, Portugal, NFP, Canada jobs, G7 conference call, Goldman but the distraction to the curcuit breakers may be a temporary break.

Forex QUICK: GBPUSD trying to keep an intraday bullish bias after last nights sharp fall Posted: 07 May 2010 06:15 AM PDT Forex QUICK: GBPUSD trying to keep an intraday bullish bias after last nights sharp fall

Forex Morning Report - May 7 Posted: 07 May 2010 06:14 AM PDT

Forex QUICK: EURUSD stays in control post the Employment report Posted: 07 May 2010 05:53 AM PDT Forex QUICK: EURUSD stays in control post the Employment report

Forex QUICK: US Unemployment comes in better but Unemployment Rate rises Posted: 07 May 2010 05:39 AM PDT Forex QUICK: US Unemployment comes in better but Unemployment Rate rises

Unemployment Rate Worse than Expected but Nonfarm Payroll Number much higher Posted: 07 May 2010 05:33 AM PDT Unemployment Rate - Survey: 9.7%    Actual: 9.9%    Prior: 9.7% Change in Non Farm Payrolls- Survey: 190K   Actual: 290K   Prior: 162K   Revision: 230K Change in Private Payroll-  Survey: 100K     Actual: 231K    Prior:123K   Revision: 174K More people entering the labor market pushes the Unemployment Rate higher, but overall the data is better than expected. Census workers still will add more workers going forward.  The Private numbers are impressive as were the revisions. The dollar has gotten stronger versus the EURUSD. The USDJPY rallied but came down to support against the 100 bar moving average at the 92.19 level.

Economic Data For May 7 Posted: 07 May 2010 05:05 AM PDT

NY Opening Forex Commentary reviews all the action and key levels to watch today Posted: 07 May 2010 04:54 AM PDT NY Opening Forex Commentary reviews all the action and key levels to watch today

Forex Quick: Canadian Unemployment surprises to the upside. USDCAD drops to 100 day MA Posted: 07 May 2010 04:08 AM PDT Forex Quick: Canadian Unemployment surprises to the upside. USDCAD drops to 100 day MA

Canadian Unemployment Posted: 07 May 2010 04:03 AM PDT The CAD made major gains against all of the major currencies after the unemployment rate came in slightly better than expected, and net employment change made the largest jump on record. The details are as follows: Unemployment Rate - Survey: 8.2%   Actual: 8.1%   Prior: 8.2% Net Change in Employment - Survey: 25K   Actual: 108.7K   Prior: 17.9K

German Industrial Production Posted: 07 May 2010 03:02 AM PDT German Industrial Production m/m came in at 4.0%, stronger than the 1.5% expected and prior reading of 0.0%. Eur/Usd got a slight pop from this figure as the pair gained 15 points to trade at 1.2755.

Eur/Gbp above daily channel; not far from 100 day M/A Posted: 07 May 2010 02:35 AM PDT Eur/Gbp is trading above a daily channel and is not far off its 100 day M/A of .8838. This on the heels of election results out of the UK which do not clearly indicate a political direction for the country. If the pair reverses .8690 should be a good level of support.

Political uncertainty in UK; sterling falls Posted: 07 May 2010 02:03 AM PDT There has been no clear cut winning party in the UK. Conservatives will not be able to muster the 326 seats needed for a majority. This just leads to more political unrest in the UK and the Gbp seems to be acting accordingly. Gbp/Usd has dropped almost 100 points in the last hours trading, currently at 1.4635. Gbp/Jpy has also felt the effects as the pair is trading just below 135.00. Eur/Gbp has made a new session high of .8704, currently at .8688.

UK PPI Posted: 07 May 2010 01:33 AM PDT Sterling retreated back to the 1.4700 handle after April PPI read worse than expected. PPI Input m/m - Survey: 1.0%   Actual: 0.6%   Prior: 3.6% PPI Output m/m - Survey: 0.6%   Actual: 1.4%   Prior: 0.9%

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