Forex Market Updates & Commentary

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• Existing Home Sales not as good the headline
• Forex QUICK:EURUSD moves above key resistance. Support now at 1.2876-80
• Euro-Zone Consumer Confidence Slightly Higher
• US Home Sales and Leading Indicators Better than Expected
• US Home Sales and Leading Indicators Data 10AM
• Euro-Zone Consumer Confidence Due at 10AM
• Initial Claims disappoint. USDJPY eyes 88.60 support
• Canada Retail Sales Down
• US Jobless Claims Numbers Fall
• Bobbys Corner-Open Market-July.22.2010
• US Jobless Claims and Continuing Claims Data 8:30AM
• Canada Retail Sales Data at 8:30AM
• The NY Opening Forex Commentary looks at the EURUSD, GBPUSD and USDJPY. Previews data today.
• Eurozone Industrial New Orders

Existing Home Sales not as good the headline Posted: 22 Jul 2010 07:07 AM PDT The months supply of homes on the market rose to 8.9 months from 8.3 months last month and the 3 month average of 8.5 months. This is also the highest level for the year. This is indicative of a larger supply of homes on the market. SO although the pace is higher than expected at 5.37MM vs estimates of 5.1 million annualized pace, the underlying fundamentals remain weak for housing.

Forex QUICK:EURUSD moves above key resistance. Support now at 1.2876-80 Posted: 22 Jul 2010 07:04 AM PDT

Euro-Zone Consumer Confidence Slightly Higher Posted: 22 Jul 2010 07:04 AM PDT

US Home Sales and Leading Indicators Better than Expected Posted: 22 Jul 2010 07:01 AM PDT Existing Home Sales:        Survey: 5.10M           Actual: 5.37M           Prior: 5.66M         Revised: 5.M Existing Home Sales(MoM):     Survey: -9.9%           Actual: 5.1%           Prior: -2.2%         Revised: .% Leading Indicators:    Survey: -0.3%     Actual:  -0.2%    Prior:  0.4%    Revised: .5

US Home Sales and Leading Indicators Data 10AM Posted: 22 Jul 2010 06:46 AM PDT

Euro-Zone Consumer Confidence Due at 10AM Posted: 22 Jul 2010 06:35 AM PDT

Initial Claims disappoint. USDJPY eyes 88.60 support Posted: 22 Jul 2010 05:42 AM PDT

Canada Retail Sales Down Posted: 22 Jul 2010 05:32 AM PDT Canada Retail Sales (MoM) - Survey:  0.4%          Actual: -.2%                Prior: -2.0% Canada Retail Sales ex-auto (MoM) -   Survey: 0.5%              Actual:  -.1%                Prior: -1.2%

US Jobless Claims Numbers Fall Posted: 22 Jul 2010 05:31 AM PDT Jobless Claims:     Survey: 445K         Actual: 464K          Prior: 429K        Revised: 427K Continuing Claims:           Survey: 4590K           Actual: 4487K         Prior: 4681K          Revised: 4710K

Bobbys Corner-Open Market-July.22.2010 Posted: 22 Jul 2010 05:07 AM PDT Good Morning: The USD traded weaker in overnight markets.  With Fed Chairman Bernanke’s statement yesterday that the economic outlook is “unusually uncertain”, along with speculation that this morning’s US data will show an increase in jobless claims, and a drop in home sales, the greenback had no place to go but lower. Another factor in the weaker USD is that the UK posted better than expected retail sales (the largest gain in 5 months), along with positive data in both manufacturing and services in the Euro Zone for the month of July. Asian equity markets were mixed, European markets are higher and US Futures are up over 100 points at this time.  The data from Europe helped today’s rally in stocks. Oil:$77.09                                            Gold:$1187.90 TIME FOR  EST PRIOR 08:30AM INITIAL JOBLESS CLAIMS  JULY 17  445K  429K 08:30AM CONTINUING CLAIMS  JULY 10  4590K  468IK 09:00AM RPX COMPOSITE 28dy INDEX  MAY 31  —–   192.52O 09:00AM RPX COMPOSITE 28 dy YoY  MAY  ——- 2.36% 10:00AM EXISITING HOME SALES   JUNE  5.1OM  5.66M  10:00AM EXISITING HOME SALES MoM  JUNE  -9.9M -2.20%  10:00AM HOUSE PRICE INDEX MoM  MAY        -O.3%        O.8%  10:00AM LEADING INDICATORS  JUNE  -O.3%   O.4% HAVE A GREAT DAY & GOOD LUCK

US Jobless Claims and Continuing Claims Data 8:30AM Posted: 22 Jul 2010 05:00 AM PDT

Canada Retail Sales Data at 8:30AM Posted: 22 Jul 2010 04:51 AM PDT

The NY Opening Forex Commentary looks at the EURUSD, GBPUSD and USDJPY. Previews data today. Posted: 22 Jul 2010 04:50 AM PDT The NY Opening Forex Commentary looks at the EURUSD, GBPUSD and USDJPY. Previews data today.

Eurozone Industrial New Orders Posted: 22 Jul 2010 02:02 AM PDT The euro is once again trading higher after May industrial new orders came in better than expected at 3.9% versus the forecast of -0.1% and the prior reading of 0.6%.

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