Forex Market Updates & Commentary

---

• Forex Morning Report - May 13th
• Forex QUICK: Gold wanders lower but finds support
• Forex QUICK: EURUSD fails on break lower. Could lead to a bounce
• Forex QUICK: GBPUSD makes a break lower with next target support at 1.4695
• Jobless Claims Comes out Same as Prior
• Bobbys Corner-Open Market-May.13.2010
• Economic Data Releases for May 13, 2010
• Key Economic Releases and Events for May 13th
• The NY Opening Forex Commentary is available for viewing
• Sterling breaks below 100 hour M/A
• U.K. Trade Balance
• Gold taking a breather; though still bullish long term
• 5-13 Economic Calendar
• Aussie April Employment Report
• RBA Assistant Governor Lowe

Forex Morning Report - May 13th Posted: 13 May 2010 06:30 AM PDT

Forex QUICK: Gold wanders lower but finds support Posted: 13 May 2010 06:03 AM PDT

Forex QUICK: EURUSD fails on break lower. Could lead to a bounce Posted: 13 May 2010 05:54 AM PDT

Forex QUICK: GBPUSD makes a break lower with next target support at 1.4695 Posted: 13 May 2010 05:47 AM PDT

Jobless Claims Comes out Same as Prior Posted: 13 May 2010 05:31 AM PDT Market Stays steady with the news.   Import Price Index(MoM):   Survey:0.8%    Actual:.9%    Prior:0.7%    Revised:.5%    Import Price Index(YoY):    Survey:11.3%    Actual:11.1%    Prior:11.4%    Revised:11.3%    Initial Jobless Claims:             Survey:440K    Actual:444K    Prior:444K    Revised:448K    Continuing Claims:                  Survey:4590K    Actual:4627K    Prior:4594K    Revised:4615K

Bobbys Corner-Open Market-May.13.2010 Posted: 13 May 2010 05:21 AM PDT Good Morning: The Euro continues to struggled again in overnight markets.  Speculation that Euro Zone countries may not slash their deficits fast enough after the $1 trillion bailout package was announced.  With sentiment negative on the Euro Zone in general, which will continue to add pressure to the Europe’s common currency, along with all other money market instruments, such as bonds, and bills. World equity markets were higher accrosss the board, and US Futures are also higher this morning. Gold fell, as investors look to take profits after the record prices in the past few days.  Most metals along with oil were lower in overnight markets. Oil:$74.98                                                   Gold:$1233.10 TIME FOR  EST PRIOR 8:30A.M. IMPORT PRICE INDEX MoM APRIL 0.80% 0.70% 8:30A.M. IMPORT PRICE INDEX YoY APRIL 11.30% 11.40% 8:30A.M. INITIAL JOBLESS CLAIMS MAY-8 440K 444K 8:30A.M. CONTINUING CLAIMS MAY-1 4595K 4594K HAVE A GREAT DAY & GOOD LUCK

Economic Data Releases for May 13, 2010 Posted: 13 May 2010 05:07 AM PDT This Morning along with Initial Jobless Claims, and Import Price Index(MoM), We also have data releases for Import Price Index(YoY) and Continuing Claims.

Key Economic Releases and Events for May 13th Posted: 13 May 2010 05:03 AM PDT

The NY Opening Forex Commentary is available for viewing Posted: 13 May 2010 04:35 AM PDT

Sterling breaks below 100 hour M/A Posted: 13 May 2010 01:50 AM PDT Gbp/Usd has broken below its 100 hour M/A of 1.4852 on the heels of poor trade balance data. The pair may find light support around 1.4760-65 level which is the 505 fibo of move up from May 7. Stronger support lies at 1.4700, just ahead of the 61.8% fibo at 1.4695. To the upside the 100 hour M/A (1.4852) should now act as resistance.

U.K. Trade Balance Posted: 13 May 2010 01:40 AM PDT U.K. Trade Balance came in at -7.5B, worse than the -6.5B expected and prior reading of -6.3B. Gbp/Usd has sold off to a new session low of 1.4796 and currently trades at 1.4810.

Gold taking a breather; though still bullish long term Posted: 12 May 2010 10:47 PM PDT Gold has been on a one sided uptrend over the past week or so. It seems to have taken a breather. Maybe too much of a gain in too short of time. In that case we can look for a partial retracement in the short run although longer term gold still looks bullish. A pullback to 1233.00 is likely, though Xau/Usd should find light support there. Strong support lies at 1215.00 with both the 50% fibo of move up from 1183.00 to 1247.00 and 100 hour M/A at 1214.75 helping this cause.

5-13 Economic Calendar Posted: 12 May 2010 09:26 PM PDT

Aussie April Employment Report Posted: 12 May 2010 06:34 PM PDT The Australian Employment Report for April was released mixed and the AUD/USD pair received a mild bid but continues to trade in the middle of the 89 cent handle. The AUD has been under pressure as most risk currencies have, related to credit concerns emanating from Europe. The fear of contagion has even affected the AUD whose economy has an outstanding economic outlook (comparatively speaking) and rising rates, displaying again how wide spread the fear is. The details of the release are as follows: Employment Change - Survey:22.5k   Actual:33.7K   Prior:19.6k Unemployment Rate - Survey:5.3%   Actual:5.4%   Prior:5.3% Full Time Employment Change - Actual:37.5K   Prior:30.1K Part Time Employment Change - Actual:-3.9%   Prior:-10.6k Participation Rate - Survey:65.1%   Actual:65.2%   Prior:65.1% The hourly chart below clearly shows the negative bias on risk and the fear of European exposure as the healthy AUD has been making lower highs since the gap opening to start the trading week, its appreciation was being defended by downward sloping trendline resistance, which was broken for the time being by the bid on the release.

RBA Assistant Governor Lowe Posted: 12 May 2010 06:15 PM PDT The RBA Assistant Governor Lowe had the following comments in an address to the Colonial Forum in Sydeny. The AUD has showed no reaction to these comments ahead of the Aussie employment report. The RBA says: Needs to maintain fiscal tightening, which will ease pressure on capacity. Forecasts based on more saving by consumers and government. Concerns about European debt ‘could build again.’ Recent signs of a rise in risk aversion globally. Debt crisis would damage global economy if unchecked. Many advanced economies face ‘difficult’ path ahead. Disinflationary forces not as strong as estimated. Inflation expectations need to be ‘well anchored.’ Growth in demand must not outpace supply expansion. Need for ’strong emphasis’ on improving supply side. Demand for services is putting pressure on prices. March quarter CPI was ’slightly higher’ than expected. Global recovery has been ‘uneven,’ risks remain. Economic conditions in Europe ‘remain week.’ US data a ‘bit better’ than earlier expected. Australian recovery ’stronger than expected.’

You are subscribed to email updates from Forex News and Commentary by FXDD To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610