Forex Market Updates & Commentary

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• Moody’s Upgrades Chile
• Forex Morning Report- June 16th
• Forex QUICK: USDCAD key level 1.0307 today
• US Industrial Production and Capacity Utilization Both Stronger
• Forex QUICK: EURUSD at midpoint of May to June trading range
• Free Forex Webinar on Trading Thursday June 17th
• PPI a Touch Better as Housing Starts and Building Permits Tumble
• Housing Starts weaker than expected
• Bobbys Corner-Open Market-June.16.2010
• Freddie Mac and Fannie Mae Shares Haulted
• Forex QUICK:AUDUSD breaks trendline at 0.8622.
• US Producer Price Index and Housing Starts due at 8:30AM
• The NY Opening Forex Commentary is available for viewing
• ECB’s Gonzalez-Paramo Comments
• Swiss ZEW Economic Expectations

Moody’s Upgrades Chile Posted: 16 Jun 2010 06:53 AM PDT Moody’s upgrades Chile from A1 to AA3.

Forex Morning Report- June 16th Posted: 16 Jun 2010 06:30 AM PDT Click here to view the embedded video. Forex Morning Report- June 16th

Forex QUICK: USDCAD key level 1.0307 today Posted: 16 Jun 2010 06:23 AM PDT

US Industrial Production and Capacity Utilization Both Stronger Posted: 16 Jun 2010 06:15 AM PDT Industrial Production:    Survey: 0.9%    Actual: 1.2%    Prior: 0.8%   Revised: 0.7% Capacity Utilization:   Survey: 74.5%    Actual: 74.7%    Prior: 73.7%

Forex QUICK: EURUSD at midpoint of May to June trading range Posted: 16 Jun 2010 05:47 AM PDT

Free Forex Webinar on Trading Thursday June 17th Posted: 16 Jun 2010 05:41 AM PDT Join Greg Michalowski and Shawn Powell for a Free Forex Webinar on Trading Thursday June 17th >>Register Here

PPI a Touch Better as Housing Starts and Building Permits Tumble Posted: 16 Jun 2010 05:35 AM PDT Producer Price Index (MoM):     Survey: -0.5%    Actual: -.3%    Prior: -0.1%   PPI Ex Food & Energy (MoM):    Survey: 0.1%    Actual: .2%    Prior: 0.2%    Producer Price Index (YoY):     Survey: 4.9%    Actual: 5.3%    Prior: 5.5%    PPI Ex Food & Energy (YoY):     Survey: 1.1%    Actual: 1.3%    Prior: 1.0%    Housing Starts:    Survey: 648K    Actual: 593K    Prior: 672K    Revised: 659K Housing Starts (MoM)%:    Survey: -3.7%    Actual: -10.0%    Prior: 5.8%    Revised: 3.9%  Building Permits:    Survey: 625K    Actual: 574K    Prior: 606K    Revised: 610K Building Permits (MoM)%:    Survey: 2.5%    Actual: -5.9%    Prior: -11.5%    Revised: -10.9%

Housing Starts weaker than expected Posted: 16 Jun 2010 05:31 AM PDT Housing Starts fall to 593K vs 625k expected Building Permits 574K vs 625K. Weak housing data. This comes after the expiration of the government incentives. This is the lowest level this year and should pressure the risk currency pairs. USJPY continues to check the trendline support (see prior video QUICK). AUDUSD is also down today after breaking trendine support earlier today. The USDCAD is also testing and moving above  the 100 hour MA at the 1.0307 level Meanwhile PPI came out a higher than expected but the ex food and enery component remains in control with YoY inflation at 1.3%.

Bobbys Corner-Open Market-June.16.2010 Posted: 16 Jun 2010 05:23 AM PDT Good Morning; The Euro lost some steam, as bonds from Spain, Portugal, and Greece fell as concerns that the EU’s debt problems will continue to dampen the growth outlook in the region.  The spreads between Spanish and German bonds increased to 219 basis points, and Portuguese bonds vs. German bonds widened to 294 basis points.  Greek vs.German bonds have a spread as high as 674 basis points.  These wide spreads are sure signs that the debt crisis in the EU is not going away anytime soon.  It appears that Spain is now the center of attention in regard to sovereign debt issues.  We will see if the Spanish government is ready to step up and demand austerity measures from the people. Asian equity markets were higher, European markets are mixed at this time, and US Futures are lower. Gold is slightly higher, and Oil is a touch softer. Oil:$76.43                                             Gold:$1234.60 TIME FOR  EST PRIOR      REVISED 8:30A.M. PPI MoM MAY -0.50% -0.10% 8:30A.M. PPI EX FOOD& ENERGY MoM MAY 0.10% 0.20% 8:30A.M. PPI YoY MAY 4.90% 5.50% 8:30A.M. PPI EX FOOD & ENERGY YoY MAY 1.10% 1.00% 8:30A.M. HOUSING STARTS MAY 648K 672K 8:30A.M. HOUSING STARTS MoM% MAY -3.70% 5.80% 8:30A.M. BUILDING PERMITS  MAY       625K      606K       610K 8:30A.M. BUILDING PERMITS MoM% MAY 2.50% -11.50% -10.90% 9:15A.M. INDUSTRIAL PRODUCTION      MAY 0.90% 0.80% 9:15A.M. CAPACITY UTILIZATION MAY 74.50% 73.70%   HAVE A GREAT DAY & GOOD LUCK

Freddie Mac and Fannie Mae Shares Haulted Posted: 16 Jun 2010 05:04 AM PDT Freddie Mac and Fannie Mae shares being haulted pre equity open, trading suspending due to pending news, no details on the news yet.

Forex QUICK:AUDUSD breaks trendline at 0.8622. Posted: 16 Jun 2010 05:00 AM PDT

US Producer Price Index and Housing Starts due at 8:30AM Posted: 16 Jun 2010 04:58 AM PDT

The NY Opening Forex Commentary is available for viewing Posted: 16 Jun 2010 04:39 AM PDT

ECB’s Gonzalez-Paramo Comments Posted: 16 Jun 2010 02:43 AM PDT ECB member Jose Manuel Gonzalez-Paramo made these comments during a speech in London. Euro area banks face “large funding needs”. Securitization can play a vital role in financing the economy. Securitization may unblock credit supply constraints. The rebound of the securitization market is crucial. The financial environment remains challenging. Issuing ABS’s only for collateral use is not sustainable. ABS market has improved, but still far from normal. Market standards and practices must be materially enhanced.

Swiss ZEW Economic Expectations Posted: 16 Jun 2010 02:04 AM PDT June ZEW economic expectations came in at 17.5; lower than the prior reading of 40.5.

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