Forex Market Updates & Commentary

Mexican Unemployment Rate Higher
Richmond Fed Same as Expected, Consumer Confidence Higher
FOREX QUICK: USD/CHF coming off the highs
FOREX QUICK: USD/CAD testing higher highs
Richmond Fed & Consumer Confidence US Releases Due at 10AM also Along with House Price Index
US S&P Data Stays According to Survey
Forex Morning Report - May 25th
US S&P CaseShiller Data Due at 9AM
Eurozone Industrial New Orders
UK Revised GDP as expected
Eur/Usd continues slide
As equities go so goes Eur/Jpy
5-25 Economic Calendar
Forex Evening Report - May 24th
FOREX QUICK: EUR/GBP Facing downside pressure over past 24H

Posted: 25 May 2010 07:08 AM PDT

Mexico Unemployment rate today increases to 5.40% vs the prior number of 4.81%. Unemployment rate at same figure as February rate.

Richmond Fed Same as Expected, Consumer Confidence Higher

Posted: 25 May 2010 07:02 AM PDT

Richmond Fed Manufacturing Index: Survey: 26 Actual: 26 Prior: 30

Consumer Confidence: Survey: 58.5 Actual: 63.3 Prior: 57.9 Revised: 57.7

House Price Index (MoM): Survey: 0.0% Actual: .3% Prior: -0.2% Revised: -.4%

House Price Purachase Index (QoQ): Actual: -3.1 % Prior: -0.1%

FOREX QUICK: USD/CHF coming off the highs

Posted: 25 May 2010 06:59 AM PDT

FOREX QUICK: USD/CHF coming off the highs

FOREX QUICK: USD/CAD testing higher highs

Posted: 25 May 2010 06:25 AM PDT

FOREX QUICK: USD/CAD testing higher highs

Richmond Fed & Consumer Confidence US Releases Due at 10AM also Along with House Price Index

Posted: 25 May 2010 06:19 AM PDT

Richmond Fed Manufacturing Index: Survey: 26 Actual: Prior: 30 Revised:

Consumer Confidence: Survey: 58.5 Actual: Prior: 57.9 Revised:

House Price Index (MoM): Survey: 0.0% Actual: Prior: -0.2% Revised:

House Price Purachase Index (QoQ): Survey: Actual: Prior: Revised:

US S&P Data Stays According to Survey

Posted: 25 May 2010 06:07 AM PDT

S&P/CS Composite-20 (YOY): Survey: 2.5% Actual: 2.3% Prior: 0.6% Revised: .7%

S&P/CaseShiller Home Price Ind: Survey: Actual: 143.4 Prior: 144.0 Revised: 144.1

S&P/CS 20 City (MoM%) SA: Survey: -0.30% Actual: -.05% Prior: -0.10% Revised: -.145

S&P/CaseShiller US HPI: Survey: Actual: 131.8 Prior: 136.1 Revised: 136.2

S&P/CaseShiller US HPI (YoY%): Survey: 3.2% Actual: 2.0% Prior: -2.5% Revised: -2.3%

Forex Morning Report - May 25th

Posted: 25 May 2010 05:45 AM PDT

Forex Morning Report - May 25th

US S&P CaseShiller Data Due at 9AM

Posted: 25 May 2010 05:40 AM PDT

S&P/CS Composite-20 (YOY): Survey: 2.5% Actual: Prior: 0.6% Revised:

S&P/CaseShiller Home Price Ind: Survey: Actual: Prior: 144.0 Revised:

S&P/CS 20 City (MoM%) SA: Survey: -0.30% Actual: Prior: -0.10% Revised:

S&P/CaseShiller US HPI: Survey: Actual: Prior: 136.1 Revised:

S&P/CaseShiller US HPI (YoY%): Survey: 3.2% Actual: Prior: -2.5% Revised:

Eurozone Industrial New Orders

Posted: 25 May 2010 02:03 AM PDT

Eurozone Industrial New Orders m/m came in at 5.2%, stronger than the 2.2% expected and prior reading of 1.5%.

This positive data for the Euro has had little affect on the market as Eur/Usd received an initial pop of 10 points but has since declined below 1.2200, challenging session low of 1.2191.

UK Revised GDP as expected

Posted: 25 May 2010 01:34 AM PDT

UK Revised GDP q/q came in at 0.3% as expected, but an upward revision from the preliminary 0.2% reading.

GBP remains soft as Gbp/Usd continues to trade either side of 1.4300, Gbp/Jpy 128.50 and Eur/Gbp .8550.

Eur/Usd continues slide

Posted: 25 May 2010 12:38 AM PDT

Eur/usd has looked bearish since Sunday’s open. The pair is trading firmly below the 61.8% fibo (1.2346) of move up from 1.2146 to 1.2670. The 1.2220-30 level should act as short term support with 1.2146 the pairs ultimate target to the downside. To the upside 1.2346 should act as good resistance.

vincent_fx00080

As equities go so goes Eur/Jpy

Posted: 24 May 2010 10:25 PM PDT

Eur/Jpy is again steadily selling off. The S&P 500 was off 14.04 today as Eur/Jpy traded down to 111.07. The S&P futures are currently down 16.40, bringing the index to 1054.60. Not coincidentally, Eur/Jpy is also trading lower with the session low thus far at 110.50. The pair continues to look offered as do the equity markets. How the European markets open may be a good indicator on the next direction for Eur/Jpy.

The next level of support for the pair lies at 110.20, an area of old hourly lows. After that a full retracement of move up from 109.45 to 114.40 is likely.

To the upside 111.34 is the 61.8% fibo and should provide resistance, although it doesn’t appear that level will come into play in the short term.

vincent_fx00079