Wednesday, July 7, 2010

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

USDCHF floor gives way and falls. 1.0503 next support

Posted: 07 Jul 2010 07:06 AM PDT

As per prior Forex QUICK (click here), the USDCHF floor gave way and the price has fallen. Resistance now at the 1.0560 level, with the next target 1.0503

Forex QUICK: Watch 1.2592-1.2594 support now. A push through 1.2611 is needed above

Posted: 07 Jul 2010 06:54 AM PDT

Forex QUICK: USDCHF testing key floor support at 1.0560 area

Posted: 07 Jul 2010 06:39 AM PDT

Forex Morning Report - July 7 2010

Posted: 07 Jul 2010 06:20 AM PDT


Forex Morning Report - July 7 2010

Canada Ivey Purchasing Manager Index due out at 10AM

Posted: 07 Jul 2010 05:56 AM PDT

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Special Webinar Part 2 Thursday July 8 2010

Posted: 07 Jul 2010 05:37 AM PDT

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Special Webinar Part 2 Thursday July 8 2010 4pm New York Time - Click here to register

Forex QUICK: AUDUSD trades between the “Goal Posts” after overnight move lower

Posted: 07 Jul 2010 05:27 AM PDT

Bobbys Corner-Open Market-July.7.2010

Posted: 07 Jul 2010 05:19 AM PDT

bob-slade-forex-trading-3-150x200Good Morning:

With no major economic data on the worldwide calenders, the FX markets followed the equity markets.  With equities falling amid concerns on earnings growth, the risk currencies followed suit.
The JPY was higher as stocks drifted lower-and speculation mounts that the global recovery will falter.  Concerns like this in the marketplace always have investors move to the relative safety of the Yen.
The global recovery seems to be faltering amid reports that German factory orders dropped, and Australia’s building industry shrank.

US Futures are looking at a lower opening at this time. 

Oil:$72.26                        Gold:$1187.40

On another note-the heat wave continues to strangle the Northeast, and Eastern US states.
Yesterday the mercury rose to a record 103 degrees (F) in New York.  Today Washington, DC is expected to reach 101 degrees.  The heat is expected to stay throughout the week-with some relief coming this weekend.
Oh well- that is what is expected in the summer months.

HAVE A GREAT DAY & GOOD LUCK

Forex QUICK: EURUSD 1.2600/11 Key Resistance. 1.2569 Key Support in early NY trade

Posted: 07 Jul 2010 05:06 AM PDT

The NY Opening Forex Commentary is available for viewing

Posted: 07 Jul 2010 04:29 AM PDT

Mortgage Applications rose 6.7% with refinancing leading the way

Posted: 07 Jul 2010 04:28 AM PDT

The Refinance index rose by 9.2% as the average rate remained depressed at 4.68%. The purchase index fell by 2.0% as home purchases continue to be stagnant. YoY the Purchase index is down 34.7%.

German Factory Orders

Posted: 07 Jul 2010 03:02 AM PDT

German Factory Orders m/m came in at -0.55, weaker than the +0.5% expected.

Eur/Usd tested session low of 1.2557 upon release and is currently trading at 1.2565.

Eurozone Final GDP

Posted: 07 Jul 2010 02:08 AM PDT

Eurozone Final GDP q/q came in at 0.2%, inline with expectations and its prior reading.

Eur/Usd currently trades at 1.2570.

Merkel’s cabinet backs budget cuts

Posted: 07 Jul 2010 01:47 AM PDT

German Chancellor Angela Merkel is stepping up the pressure on other European nations to show some fiscal responsibility and reduce debt. Her cabinet has approved a four year package of budget cuts that should save the country 103 billion euros.

Usd/Jpy threatens old hourly lows

Posted: 06 Jul 2010 10:09 PM PDT

Usd/Jpy is poised to break to the downside as the pair threatens for the fourth time to break below 87.33, an area of recent hourly lows. a break below this number should send the pair down to 86.95-87.00, where it should run into some support. A failed break may send Usd/Jpy back up to 87.70-75 where the 100 hour M/A hovers  at 87.77 for resistance.

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