Forex Market Updates & Commentary

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• FOREX QUICK: EUR/USD Testing key upside level
• Chicago PMI and University of Michigan Confidence Both Higher
• Forex Quick: USD/CAD Double wedge may show potential
• Canada GDP Stays the Same but Outlook Slightly Weaker
• US GDP and Personal Consumption Fall as Price Index and PCE Gain
• Bobbys Corner-Open Market-July.30.2010
• US GDP and Employment Cost Index Data due at 8:30AM
• Canada GDP Due out at 8:30AM
• KOF Economic Barometer (Swiss)
• Eurozone Unemployment
• Eurozone Flash CPI
• Moody’s Says Spain May Lose Aaa Rating
• German retail sales
• 7-30 Economic Calendar

FOREX QUICK: EUR/USD Testing key upside level Posted: 30 Jul 2010 08:20 AM PDT FOREX QUICK: EUR/USD Testing key upside level

Chicago PMI and University of Michigan Confidence Both Higher Posted: 30 Jul 2010 06:57 AM PDT

Forex Quick: USD/CAD Double wedge may show potential Posted: 30 Jul 2010 06:42 AM PDT Forex Quick: USD/CAD Double wedge may show potential

Canada GDP Stays the Same but Outlook Slightly Weaker Posted: 30 Jul 2010 05:35 AM PDT

US GDP and Personal Consumption Fall as Price Index and PCE Gain Posted: 30 Jul 2010 05:33 AM PDT GDP (QoQ) Annualized:      Survey: 2.6%          Actual: 2.4%            Prior:  2.7%         Revised: 3.7% Personal Consumption:     Survey: 2.4%          Actual: 1.6%           Prior:  3.0%      Revised: 1.9     GDP Price Index:     Survey:  1.1%         Actual:  1.8%       Prior:  1.1%       Revised: 1.0% Core PCE (QoQ):    Survey:  1.0%         Actual: 1.1%        Prior: 0.7%       Revised: 1.2% Employment Cost Index:    Survey:  0.5%     Actual: 0.5%       Prior: 0.6%

Bobbys Corner-Open Market-July.30.2010 Posted: 30 Jul 2010 05:16 AM PDT Good Morning: The JPY hit it’s strongest level in 2010 overnight as speculation mounts that the slowdown in the US economy will hamper the global recovery.  Today’s US GDP report will show that the US economy is losing traction-as consumer spending slowed. Moody’s made comments that Spain may lose it’s Aaa rating, after putting the country on review for a possible downgrade in June.  Spain’s unemployment rate rose to 20.1%-the highest in the EU. Moody’s also made comments that the US needs a “clear plan” to tackle the mounting deficit that continues to grow. Asian equity markets were lower-ans is Europe.  US Futures are also pointing to a lower opening this morning. Oil:$77.85                                                     Gold:$1170.20   TODAY’S RELEASES TIME FOR  EST PRIOR 8:30A.M. GDP QoQ (ANNUALIZED) 2Q A 2.50% 2.70% 8:30A.M. PERSONAL CONSUMPTION 2Q A 2.40% 3.00% 8:30A.M. GDP PRICE INDEX  2Q A 1.10% 1.10% 8:30A.M. CORE PCE QoQ 2Q A 1.00% 0.70% 8:30A.M. EMPLOYMENT COST INDEX  2Q 0.50% 0.60% 9:45A.M. CHICAGO PURCHASING MANAGER JULY 56.O 59.1O 9:55A.M. U. OF MICHIGAN CONFIDENCE  JULY F        67.O 66.5O 10:00A.M. NAPM-MILWAUKEE JULY 57.O 59.O HAVE A GREAT DAY-WEEKEND & GOOD LUCK

US GDP and Employment Cost Index Data due at 8:30AM Posted: 30 Jul 2010 05:03 AM PDT

Canada GDP Due out at 8:30AM Posted: 30 Jul 2010 04:57 AM PDT

KOF Economic Barometer (Swiss) Posted: 30 Jul 2010 02:56 AM PDT KOF Economic Barometer came in at 2.23, weaker than the 2.32 expected and inline with prior reading. Usd/Chf  is up about 10 points to 1.0419, while the weakness in the Euro has Eur/Chf down 20 points to 1.3538 since release of figures.

Eurozone Unemployment Posted: 30 Jul 2010 02:04 AM PDT Eurozone Unemployment Rate remains at 10.0%, as expected. This release should have no impact on trading.

Eurozone Flash CPI Posted: 30 Jul 2010 02:02 AM PDT Eurozone Flash CPI y/y came in at 1.7%, weaker than the 1.8% expected, but stronger than the prior reading of 1.4%. Eur/Usd currently trades at 1.3048.

Moody’s Says Spain May Lose Aaa Rating Posted: 29 Jul 2010 11:39 PM PDT Moody’s says Spain may lose Aaa rating; U.S. needs “clear plan.” Eur/Usd currently trades at 1.3070.

German retail sales Posted: 29 Jul 2010 11:01 PM PDT German retail sales m/m came in at -0.9%, weaker than the 0.0% expected and 0.4% prior reading. Eur/Usd is off about 10 points to 1.3063 on news.

7-30 Economic Calendar Posted: 29 Jul 2010 08:50 PM PDT

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