Wednesday, August 4, 2010

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

USDCAD falls below key support at 1.0205. Now what?

Posted: 04 Aug 2010 06:51 AM PDT

Forex Morning Report- August 4th

Posted: 04 Aug 2010 06:35 AM PDT

Forex Morning Report- August 4th

GBPJPY tests key 100 day MA at 136.64 after better ADP data

Posted: 04 Aug 2010 05:42 AM PDT

Rebroadcast of Tuesday August 3rd Webinar

Posted: 04 Aug 2010 05:25 AM PDT

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Rebroadcast of Tuesday August 3rd Webinar- Click here to watch (You must register if you did not attend)

ADP Employment Data Higher

Posted: 04 Aug 2010 05:19 AM PDT

 

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Bobbys Corner-Open Market-August.4.2010

Posted: 04 Aug 2010 05:05 AM PDT

bob-slade-forex-trading-6-150x200Good Morning:

The JPY rose against all currencies as speculation mounts that the US economy is slowing, and that the Fed will introduce some additional monetary easing policies.  Overall the USD fared well, except versus the Yen.
GBP lost some steam as UK services PMI came in short of expectations.  The GBP may test the 1.60 level-especially if US data comes out weak.
Overall there was not a lot of  excitement in the markets overnight-as August creeps into the FX world.

Asian equity markets were mixed, and European markets are lower.  US Futures are also lower this morning.

Oil:$82.34                                                  Gold:$1198.00

TIME FOR  EST PRIOR
7:00A.M. MBA MORTGAGE APPLICATIONS 30-Jul -4.40%
7:30A.M. CHALLENGER JOB CUTS YoY JULY -47.10%
8:15A.M. ADP EMPLOYMENT CHANGE JULY 35K 13K
10:00A.M. ISM NON-MANUFACTURING COMPOSITE  JULY 53.O 53.8O

HAVE A GREAT DAY & GOOD LUCK

US ADP Employment Change due at 8:15AM

Posted: 04 Aug 2010 05:02 AM PDT

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Challenger Job cuts fall 57.2% from last year

Posted: 04 Aug 2010 04:44 AM PDT

Last month the decline came in at -47.1%. Total cut announcements totaled 41,676 which was up from 39,358 announcements last month. Later this morning at 8:15 we have ADP EMployment Change with an estimate of 30K Private Job gains versus 13K last month. The Labor Department estimate for Private Employment is expected to come in at 90K.

The NY Opening Forex Commentary is available for viewing

Posted: 04 Aug 2010 04:39 AM PDT

Eurozone Retail Sales

Posted: 04 Aug 2010 02:03 AM PDT

July retail sales in the Eurozone came in slightly better than expected. The details are as follows:

  • Retail Sales (y/y) - Survey: 0.1%   Actual: 0.4%   Prior: 0.3%
  • Retail Sales (m/m) - Survey: 0.0%   Actual: 0.0%   Prior: 0.2%

There was some buying during the 10 minutes leading up to the release, but minimal movement after.

UK Services PMI

Posted: 04 Aug 2010 01:30 AM PDT

UK Services PMI came in at 53.1, weaker than the 54.5 expected.

Gbp/Usd is off 25 points thus far, currently trading at 1.5911.

Noda on the wires…

Posted: 04 Aug 2010 01:23 AM PDT

Speaking to reporters in Tokyo, Japanese Finance Minister Noda commented that excessive currency movements are bad for the economy and he is carefully monitoring the financial markets. Also, low yields are good for the government and their impact is closely monitored.

Eurozone Final Services PMI

Posted: 04 Aug 2010 01:02 AM PDT

The market showed a minimal reaction following the final services PMI out of the Eurozone which came in at 55.8; slightly worse than the survey and prior showing of 56.0. The euro is currently trading on session lows against the USD.

UK Halifax HPI

Posted: 03 Aug 2010 11:02 PM PDT

The British pound traded slightly higher after the UK’s July house prices came in much better than expected. The details are as follows:

  • Halifax House Price 3mth/Year - Survey: 4.6%   Actual: 4.9%   Prior: 6.3%
  • Halifax House Prices (m/m) - Survey: -0.3%   Actual: 0.6%   Prior: -0.6%

The GBP is currently trading off session lows against the USD.

USD/JPY Under Pressure

Posted: 03 Aug 2010 10:00 PM PDT

After trading continually lower today, the USD/JPY is now approaching a full daily retracement on the move from the low on November 27, 2009 to the high on May 6, 2010. The pair has not traded below this level since the summer of 1995. If the pair continues through the 84.80 level, we should see much more volatile trading as there is no support in sight.

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