Forex Market Updates & Commentary

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• Forex QUICK: USDJPY consolidates intraday but above support levels.
• Forex QUICK: AUDUSD bullish but watching 0.8647 channel resistance level
• Forex Morning Report- June 14th
• Forex QUICK: GBPUSD watching 1.4782 - 97 topside resistance
• Bobbys Corner-Open Market-June.14.2010
• Forex QUICK: EURUSD watch 1.2231-34 today. Key level.
• The NY Opening Forex Commentary is available for viewing
• Additional Bullard Comments
• Eurozone Industrial Production m/m
• ECB’s Nowotny Speaks in Vienna
• Swiss PPI m/m
• Eur/Usd just falls short of June 4th high
• Bullard on the wires…
• 6-14 Economic Calendar

Forex QUICK: USDJPY consolidates intraday but above support levels. Posted: 14 Jun 2010 07:04 AM PDT

Forex QUICK: AUDUSD bullish but watching 0.8647 channel resistance level Posted: 14 Jun 2010 06:37 AM PDT

Forex Morning Report- June 14th Posted: 14 Jun 2010 06:25 AM PDT Forex Morning Report- June 14th

Forex QUICK: GBPUSD watching 1.4782 - 97 topside resistance Posted: 14 Jun 2010 05:56 AM PDT

Bobbys Corner-Open Market-June.14.2010 Posted: 14 Jun 2010 05:12 AM PDT Good Morning: The USD and JPY declined against the Euro, as a report from Europe showed that industrial production was higher than economists had expected.  The data showed that industrial production within the EU rose .8%, and was expected to increase .5%. The sovereign debt crisis in the EU may cause banks with additional write downs from the crisis to face a potential funding squeeze.  The markets will be concerned as this may cause depressed earnings, slow down lending practices, and slow economic growth through out the region. World equity markets rose, and US Futures are higher this morning. Commodities were higher across the board, with oil trading in the $75/bar handle. Oil:$75.52                                           Gold:$1228.60 HAVE A GREAT DAY & GOOD LUCK

Forex QUICK: EURUSD watch 1.2231-34 today. Key level. Posted: 14 Jun 2010 05:02 AM PDT

The NY Opening Forex Commentary is available for viewing Posted: 14 Jun 2010 04:38 AM PDT

Additional Bullard Comments Posted: 14 Jun 2010 02:24 AM PDT Speaking again in Tokyo, Fed’s Bullard made these additional comments: Expects Asia to keep leading the global recovery. Market moves reflect “more worry than reality”. Sees China’s economy staying on a rapid growth path. The world is in a powerful recovery led by Asia. Europe crisis is unlikely to derail global recovery. U.S. first to increase hiring to meet demand. Europe crisis may sustain lower U.S yields. Now is the time for U.S. fiscal consolidation.

Eurozone Industrial Production m/m Posted: 14 Jun 2010 02:03 AM PDT The EUR traded slightly higher, making a new session high of 1.2234 against the USD after the release of slightly better than expected industrial production numbers for April. The details are as follows: Industrial Production (m/m) - Survey: 0.5%   Actual: 0.8%   Prior: 1.3% Industrial Production (y/y) - Survey: 8.7%   Actual: 9.5%   Prior: 6.9%

ECB’s Nowotny Speaks in Vienna Posted: 14 Jun 2010 01:18 AM PDT Global economy has recovered in 2010; more quickly than expected. Important that debt crisis doesn’t turn to banks. Makes sense to limit non-core bank activities. Hopes basel rule is not watered down by lobbies. Fully understands German shorting ban. Both deficit and debt quota to be controlled. Policy of budget consolidation is important. Budget consolidation is necessary for long term growth. Bond purchases are not quantitative easing; no inflation risks.

Swiss PPI m/m Posted: 14 Jun 2010 12:17 AM PDT The CHF traded slightly higher after May PPI (m/m) came in at 0.3% versus the survey of -0.1% and prior reading of 0.6%.

Eur/Usd just falls short of June 4th high Posted: 13 Jun 2010 11:50 PM PDT Eur/Usd just fell short of retracing move down on June 4th from 1.2215 to 1.1874. The pair has made 3 recent hourly highs about 10 points shy of  a full retracement. If this resistance holds the pair should find support at 1.2150. There is stronger support down at 1.2080-85 level, with the 200 hour M/A lying at 1.2079 and 61.8% fibo at 1.2085.

Bullard on the wires… Posted: 13 Jun 2010 11:39 PM PDT St. Louis FED President James Bullard made these comments while speaking to the press in Tokyo: European crisis shouldn’t postpone Fed rate increase. Not time to normalize the Fed discount rate. Shouldn’t raise discount rate on European turmoil. Sees midterm inflation risk because of fed easy money policy. Inflation in the U.S. is well contained right now. Fed should sell assets first, raise key rate later. U.S. housing crisis won’t go up any time soon. Doesn’t see debt crisis won’t go up any time soon. European crisis is helping to lower the U.S bond yields.

6-14 Economic Calendar Posted: 13 Jun 2010 11:29 PM PDT

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