Forex Market Updates & Commentary

FOREX QUICK: USD/JPY Moving higher off of strong US release
US Home Sales Data Better
US New Home Sales Data at 10am
FOREX QUICK: XAU/USD Slows at the 1214.83 level
US Treasury Secretary Geithner on the Newswires
Forex Morning Report- May 26th
FOREX QUICK: GBP/USD setting up for three is a crowd rule
US Durable Goods Data Much Higher Than Expected
Bobbys Corner-Open Market-May.26.2010
British Bankers Association Mortgage Approvals
Aussie flirts with 100 hour M/A
GfK German Consumer Climate
Gold runs into 200 hour M/A
Rebroadcast of Tuesday’s Forex training
5-26 Economic Calendar

FOREX QUICK: USD/JPY Moving higher off of strong US release

Posted: 26 May 2010 07:09 AM PDT

FOREX QUICK: USD/JPY Moving higher off of strong US release

Posted: 26 May 2010 07:03 AM PDT

US new home sales data much higher as it comes in at 504K vs the prior figure of 411K. New home sales (MoM) also comes in much higher at 14.8 vs the survey of 3.4%. Euro trading slightly lower on the news.

US New Home Sales Data at 10am

Posted: 26 May 2010 06:37 AM PDT

FOREX QUICK: XAU/USD Slows at the 1214.83 level

Posted: 26 May 2010 06:35 AM PDT

FOREX QUICK: XAU/USD Slows at the 1214.83 level

US Treasury Secretary Geithner on the Newswires

Posted: 26 May 2010 06:19 AM PDT

says EU to do “whats necessary” to ensure stability
U.S. commits to affirming ties with the new U.K. government
says Greece should implement their commitments
governments need to act ‘quickly and with force’ in crisis
says ‘markets want to see action’
says G-20 to reinforce plans to prevent crisis
need ‘carefully designed,’ coordinated reform
U.K’s Osborne laid out ’strong, compelling’ plans

Forex Morning Report- May 26th

Posted: 26 May 2010 06:00 AM PDT

Forex Morning Report- May 26th

FOREX QUICK: GBP/USD setting up for three is a crowd rule

Posted: 26 May 2010 05:42 AM PDT

FOREX QUICK: GBP/USD setting up for three is a crowd rule.

US Durable Goods Data Much Higher Than Expected

Posted: 26 May 2010 05:33 AM PDT

This is the highest level that durable goods has reached since January, Market stays calm with the news.

Bobbys Corner-Open Market-May.26.2010

Posted: 26 May 2010 04:14 AM PDT

Good Morning:

The euro continues to trade under pressure as speculation rises that the the Euro Zone’s debt problems will derail economic growth within the region. The single surrency weakened as data from Germany showed consumer confidence in the Euro Zone’s largest economy fell, and consumer spending in France saw a decline.
Italy’s government approved 26 billion euros worth of budget cuts, as they also struggle to control their deficit.
Markets are also keeping an eye on the political tensions rising on the Korean peninsula.

World equity markets along with commodities rallied overnight as investors looked to seek opportunities after the downward trends of the past few weeks. U.S Futures are also higher at this time.

Oil:$70.74 Gold:$1213.50

Today’s Data

8:30A.M.	DURABLE GOODS ORDERS	APRIL	1.40%	-1.30%	-1.20%
8:30A.M.	DURABLES EX TRANSPORTATION	APRIL	0.50%	2.80%	3.70%
10:00A.M.	NEW HOME SALES	APRIL	425K	411K
			.

Have a GREAT DAY & GOOD LUCK

British Bankers Association Mortgage Approvals

Posted: 26 May 2010 02:22 AM PDT

BBA Mortgage Approvals came in at 35,700, weaker than the 37,600 expected but a slight improvement ove rthe 35,000 prior reading.

Gbp/Usd relatively unchanged after release trading either side of 1.4400.

Aussie flirts with 100 hour M/A

Posted: 26 May 2010 12:08 AM PDT

In recent trading Aud/Usd has been flirting with its 100 hour M/A to no avail. It has not been able to close any hours trading above this line. If the pair can finally break above the 100 hour M/A (.8248) it should run into short term resistance at .8285. To the downside .8190, an area of recent hourly lows, should provide some support.

vincent_fx00082

GfK German Consumer Climate

Posted: 25 May 2010 11:19 PM PDT

GfK German Consumer Climate came in at 3.5, weaker than the 3.7 expected and prior reading of 3.7.

Eur/Usd had fallen to new session low of 1.2262 in the 30 minutes prior to release and has since regained dome of that loss, currently trading at 1.2295.

Gold runs into 200 hour M/A

Posted: 25 May 2010 10:24 PM PDT

After bottoming out at 1165.82 last Friday gold has been on a steady rise. It is currently threatening its 200 hour M/A of 1205.75. So far this level is acting as resistance as Xau/Usd as a failed break occured earlier in the session. For added resistance the 50% fibo of move down from 1249.28 to 1165.82 comes in at 1207.55.

A break above should bring gold to 1217.00 where the 61.8% fibo lies. If it holds the 38.2% fibo at 1197.70 should act as short term support with 100 hour M/A at 1188.26 a stronger support.

vincent_fx00081