Forex Market Updates & Commentary

---

• ISM Non Manufacturing comes in at 53.8
• Forex QUICK: Gold falls below the $1196 support area
• Forex Morning Report - July 6
• Forex QUICK: AUDUSD tests 200 hour MA target at 0.8540 and finds sellers
• Canada Building Permits fall 10.8% in May
• Canada Building Permits due at 8:30 AM.
• Bobbys Corner-Open Market-July.6.2010
• Forex QUICK: EURUSD between key support at 1.2569 and 1.2600/11 resistance
• Forex QUICK: USDJPY test 100 hour MA at 87.95. Decision time.
• Forex QUICK: USDCAD moves back below 100 hour MA at 1.0615 area. Now resistance
• The NY Opening Forex Commentary for July 6th is available for viewing
• Swiss CPI
• Eur/Usd daily perspective
• RBA leaves rates at 4.5%
• 7-6 Economic Calendar

ISM Non Manufacturing comes in at 53.8 Posted: 06 Jul 2010 07:01 AM PDT Less than expectations at 55.0. But still above the 50.00 level which indicates expansion. Employment fell to 49.7 from 50.4 last month. Orders fell to 54.4 from 57.1 Business Activity fell to 58.1 from 61.1 Prices fell to 53.8 from 60.6 Backlog orders fell to 55.5 from 56.0 Inventories fell from 58.5 from 62.5 So all components fell vs the previous month. The dollar has fallen on the news.

Forex QUICK: Gold falls below the $1196 support area Posted: 06 Jul 2010 06:55 AM PDT

Forex Morning Report - July 6 Posted: 06 Jul 2010 06:30 AM PDT Forex Morning Report - July 6

Forex QUICK: AUDUSD tests 200 hour MA target at 0.8540 and finds sellers Posted: 06 Jul 2010 05:55 AM PDT

Canada Building Permits fall 10.8% in May Posted: 06 Jul 2010 05:32 AM PDT This is the 5th decline in 7 months Residential fell 5.3% which non-residential fell 18.3%.  This should lead to a weaker CAD$/higher USDCAD. So far the move higher has been modest however. This may end up disappointing the bulls in USDCAD.

Canada Building Permits due at 8:30 AM. Posted: 06 Jul 2010 05:29 AM PDT USDCAD had a successful test fothe 100 hour MA and moved back lower (at 1.0615 - see earlier commentary by clicking here). A break below 1.0554 is the next hurdle for the pair.

Bobbys Corner-Open Market-July.6.2010 Posted: 06 Jul 2010 05:22 AM PDT Good Morning: The US is back in business after the long July 4Th holiday.  Yesterday we were open, but it was a very quiet day. Positive economic news from Australia, along with the RBA leaving interest rates unchanged helped the Aussie rally in overnight trading.  The RBA does not seem as concerned about the global recovery as the rest of the marketplace does. They are more concerned with the needs from China and Asia-as this region dictates Australia’s economy more than the rest of the world.   The USD andf JPY lost ground as the rally in equities lowered demand for the safe refuge of these currencies. World equity markets are higher-and US Futures are also pointing to a higher opening this morning. Global stocks have gained as analysts have raised earnings estimates for many US companies at the fastest pace since 2004.  S%P companies are looking at a 34% increase in 2010-according to reports in Bloomberg. Oil:$72.96                                   Gold:$1208.40 Today;s Data: TIME FOR  EST PRIOR 10:00A.M. ISM NON-MANUF COMPOSITE JUNE 55.3O 55.4O HAVE A GREAT DAY & GOOD LUCK

Forex QUICK: EURUSD between key support at 1.2569 and 1.2600/11 resistance Posted: 06 Jul 2010 05:21 AM PDT

Forex QUICK: USDJPY test 100 hour MA at 87.95. Decision time. Posted: 06 Jul 2010 05:10 AM PDT

Forex QUICK: USDCAD moves back below 100 hour MA at 1.0615 area. Now resistance Posted: 06 Jul 2010 05:02 AM PDT

The NY Opening Forex Commentary for July 6th is available for viewing Posted: 06 Jul 2010 04:23 AM PDT

Swiss CPI Posted: 06 Jul 2010 12:38 AM PDT Swiss CPI m/m came in at -0.4%, weaker than the 0.1% expected. Usd/Chf  traded up to 1.0620 on the heels of the news and has since come off to 1.0610.

Eur/Usd daily perspective Posted: 05 Jul 2010 11:56 PM PDT Eur/Usd is up nearly 90 points from its earlier low of 1.2480. the pair is currently attempting to break above the 38.2% fibo retracement of move down from April 12 high of 1.3691 to June 7 low of 1.1870. If the pair can close above this level we may see a continuation of this bullish move. There is not much resistance between current levels and the 100 day M/A of 1.2991.

RBA leaves rates at 4.5% Posted: 05 Jul 2010 09:39 PM PDT The RBA has left the cash rate target at 4.5%, as the market expected. The Aud was little changed after announcement with Aud/Usd at .8380, Aud/Jpy at 73.40 and Aud/Nzd at 1.2200.

7-6 Economic Calendar Posted: 05 Jul 2010 08:50 PM PDT

You are subscribed to email updates from Forex News and Commentary by FXDD To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610