Forex Market Updates & Commentary

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• Forex QUICK: EURUSD increases bullish bias on break of 100 hour MA.
• Banking source says 23% haircut on Greece debt
• BOE Sentance comments propels GBPUSD higher. 1.5120-28 now support.
• Forex Morning Report- July 13
• Forex QUICK: EURUSD testing 1.2632 resistance. A break above targets 1.2649
• Forex QUICK: BOE Sentance comments fail to ignite the GBPUSD…yet?
• BOE Sentance favors gradual rate increase
• Trade review and the EURUSD and USDJPY
• US Trade Balance Lower
• Bobbys Corner-Open Market-July13.2010
• US Trade Balance due at 8:30AM
• The NY Opening Forex Commentary is available for viewing
• Eur/Usd rebounds on Greek T-Bill auction
• ZEW Economic Sentiment (Germany and Eurozone)
• UK Inflation Data

Forex QUICK: EURUSD increases bullish bias on break of 100 hour MA. Posted: 13 Jul 2010 07:36 AM PDT

Banking source says 23% haircut on Greece debt Posted: 13 Jul 2010 07:13 AM PDT … in the EU bank stress test. This is up from 17% rumored earlier.

BOE Sentance comments propels GBPUSD higher. 1.5120-28 now support. Posted: 13 Jul 2010 06:45 AM PDT

Forex Morning Report- July 13 Posted: 13 Jul 2010 06:21 AM PDT Forex Morning Report- July 13

Forex QUICK: EURUSD testing 1.2632 resistance. A break above targets 1.2649 Posted: 13 Jul 2010 06:20 AM PDT

Forex QUICK: BOE Sentance comments fail to ignite the GBPUSD…yet? Posted: 13 Jul 2010 05:57 AM PDT

BOE Sentance favors gradual rate increase Posted: 13 Jul 2010 05:47 AM PDT .. no policy sudden lurch. Also says recovery likely to continue in absense of shock. GDP show modest recovery. Monetary policy is extremely loose. Credit access is still adversely affected and public spending will be significantly restrictly. Comments that a double dip recession is not in the cards.

Trade review and the EURUSD and USDJPY Posted: 13 Jul 2010 05:45 AM PDT

US Trade Balance Lower Posted: 13 Jul 2010 05:33 AM PDT Trade Balance:          Survey: -$39.0B         Actual: $-42.3B         Prior: $-40.3B      EUR/USD trading higher on the news.

Bobbys Corner-Open Market-July13.2010 Posted: 13 Jul 2010 05:15 AM PDT Good Morning: Moody’s Investors Services reduced Portugal’s credit rating, reminding  investors that there are still problems in Europe.  This downgrade also adds concerns to the marketplace that the sovereign debt problems in the region will dampen growth in the EZ.  Moody’s cited a growing debt and weak economic growth prospects for Portugal as their reasons for the downgrade. On another note-China announced that they will enforce rules to prevent speculative real estate investment, and limit steel production.  On the heels of this news the Aussie dropped (as concerns that China will not need as much building resources if housing was to slow), and the Yen rallied as investors seek the safe haven of the JPY. Asian equity markets traded lower-and European equty markets are higher.  US Futures are also looking positive at this time. Oil:$75.91                                                        Gold:$1207.60 TIME FOR  EST PRIOR 8:30A.M. TRADE BALANCE MAY -$39.5B -$40.3B 10:00A.M. IBD/TIPP ECONOMIC OPTIMISM JULY 46.2O 2:00P.M. MONTHLY BUDGET STATEMENT JUNE -$75.0B -$135.9B Have a GREAT DAY & GOOD LUCK

US Trade Balance due at 8:30AM Posted: 13 Jul 2010 05:03 AM PDT

The NY Opening Forex Commentary is available for viewing Posted: 13 Jul 2010 04:30 AM PDT EURUSD, GBPUSD, USDJPY, USDCHF and USDCAD are all covered in the morning report.

Eur/Usd rebounds on Greek T-Bill auction Posted: 13 Jul 2010 02:32 AM PDT Greece sold 1.25 billion euros of 26 week T-bills at 4.65%. The prior sales average yield was 4.55%. The bid to cover ratio was 3.64 as opposed to the 7.67 seen in previous auction. Eur/Usd has regained a chunk of earlier losses, now trading at 1.2575.

ZEW Economic Sentiment (Germany and Eurozone) Posted: 13 Jul 2010 02:03 AM PDT German ZEW Economic Sentiment came in at 21.2, weaker than the 25.3 expected. Current Situation came in at -1.2, much weaker than the 14.6 expected. Eurozone ZEW Economic Sentiment came in at 10.7, weaker than the 16.3 expected. More negative news for Euro this session as Eur/Usd drops to 1.2536.

UK Inflation Data Posted: 13 Jul 2010 01:38 AM PDT UK CPI y/y came in at 3.2%, inline with estimates. Core CPI y/y came in at 3.1%, stronger than the 2.7% expected. RPI y/y came in at 5.0%, stronger than the 4.9% expected. Sterling strengthened upon release of data as Gbp/Usd is up 25 points to 1.5022, Gbp/Jpy 30 points to 133.00 and Eur/Gbp just off its low at .8340.

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