Forex Market Updates & Commentary

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• Forex Midday Report - May 24th
• FOREX QUICK: USD/CHF testing key levels
• On the wires: German Govt prepares for massive debt reduction
• FOREX QUICK: GBP/USD Testing a move below major 1H support
• On the wires: LIBOR Rate increases to .51%
• FOREX QUICK: USD/CAD testing 38.2% retracement level
• US Existing Home Sales Data Positive
• Forex Morning Report - May 24th
• 5-24 Economic Calendar
• UBS Comments on FX
• Register for the Tuesday FXDD Webinar now

Forex Midday Report - May 24th Posted: 24 May 2010 09:25 AM PDT Forex Midday Report - May 24th

FOREX QUICK: USD/CHF testing key levels Posted: 24 May 2010 08:41 AM PDT FOREX QUICK: USD/CHF testing key levels

On the wires: German Govt prepares for massive debt reduction Posted: 24 May 2010 07:54 AM PDT The German government is about to begin a major budget austerity program into 2011. Some are calling it a "Debt guillotine" which has been written into the German constitution. The cuts are expected to amount to total of at least 10 billion Euros ($13 billion USD) per year until 2016

FOREX QUICK: GBP/USD Testing a move below major 1H support Posted: 24 May 2010 07:26 AM PDT FOREX QUICK: GBP/USD Testing a move below major 1H support

On the wires: LIBOR Rate increases to .51% Posted: 24 May 2010 07:13 AM PDT The London interbank offered rate, or Libor, advanced today to 0.51%, the highest level since July 16 2009, from 0.497% at the end of last week, according to data from the British Bankers' Association. The three-month rate increased for the 12th consecutive week last week even as the European Union announced a near $1 trillion aid initative for its most indebted members. Among the measures announced, the U.S. Federal Reserve reopened dollar currency swaps with major central banks to alleviate funding pressures facing the euro-region lenders.

FOREX QUICK: USD/CAD testing 38.2% retracement level Posted: 24 May 2010 07:04 AM PDT FOREX QUICK: USD/CAD testing 38.2% retracement level

US Existing Home Sales Data Positive Posted: 24 May 2010 07:01 AM PDT Existing Home Sales:        Survey: 5.64M           Actual: 5.77M           Prior: 5.35M         Revised: 5.36M Existing Home Sales(MoM):     Survey: 5.3%           Actual: 7.6%           Prior: 6.8%         Revised: 7.0%

Forex Morning Report - May 24th Posted: 24 May 2010 05:50 AM PDT Watch the new FXDD Forex Report now

5-24 Economic Calendar Posted: 23 May 2010 08:32 PM PDT

UBS Comments on FX Posted: 23 May 2010 05:17 PM PDT USD may become growth currency in coming decade. Dollar to shed haven status as US outpaces Europe. ECB to face more pressure to intervene amid crisis. Volatility makes central bank intervention likelier. Oil nations may start to favor the USD more. The dollar opened firmer against the euro by ~40 pips from last weeks close and has traded in a tight range to open the trading week. The pair has found support on Friday of last week and continues to gain a bid around the 1.25 handle, the 38.2% retracement of last weeks move.

Register for the Tuesday FXDD Webinar now Posted: 23 May 2010 03:48 PM PDT Register for the Tuesday May 25th FXDD Webinar now - Register Here

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