Forex Market Updates & Commentary

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• USDCAD between “Goal Posts” on weak US and Cad Employment
• GBPUSD contained by the weeks range post NFP
• Forex Morning Report- August 6th
• Above 1.3240. The 1.3267 next level to get through
• Dollar/Yen Hits Eight Month Low
• US Employment weaker than expectations.
• US Unemployment & Nonfarm Payroll Very Weak Data
• Bobbys Corner-Open Market-August.6.2010
• Key levels to watch in the EURUSD after NFP report
• Rebroadcast of Thursday August 5th Webinar
• US Nonfarm Payrolls & Unemployment Rate due at 8:30AM
• Preview of the Unemployment release and the key technical levels to watch
• Canadian Unemployment
• German Industrial Prodution m/m
• S&P Withdraws AAA/A-1+ Ratings on Swiss National Bank

USDCAD between “Goal Posts” on weak US and Cad Employment Posted: 06 Aug 2010 06:51 AM PDT

GBPUSD contained by the weeks range post NFP Posted: 06 Aug 2010 06:22 AM PDT

Forex Morning Report- August 6th Posted: 06 Aug 2010 06:19 AM PDT Forex Morning Report- August 6th

Above 1.3240. The 1.3267 next level to get through Posted: 06 Aug 2010 05:56 AM PDT The 1.3240 level is now support and below 1.3216 area. A move above 1.3267 is now needed to open the door for further upside move.

Dollar/Yen Hits Eight Month Low Posted: 06 Aug 2010 05:42 AM PDT USD/JPY hits new 8 month low trading at 85.33-85.35 Currently

US Employment weaker than expectations. Posted: 06 Aug 2010 05:35 AM PDT

US Unemployment & Nonfarm Payroll Very Weak Data Posted: 06 Aug 2010 05:34 AM PDT Change in Nonfarm Payrolls:         Survey:  -65K          Actual:  -131K          Prior:  -125K      Revision: -221K Change in Manufacturing Payrolls:         Survey: 13K          Actual: 36K           Prior:  9K          Revised: 13K Change in Private Payrolls:         Survey: 90K          Actual: 71K          Prior:  83K          Revised: -31K Unemployment Rate:         Survey:  9.6%          Actual: 9.5%          Prior:  9.5%       Avg Hourly Earning (MoM) All Emp:    Survey:  0.1%          Actual: 0.2%          Prior:  -0.1%     Revised: 0.0    Avg Hourly Earning (YoY) All Emp:    Survey:  1.6%          Actual: 1.8%          Prior:  1.7%      Revised: 1.7% Avg Weekly Hours All Employees:    Survey:  34.1          Actual: 34.2          Prior:  34.1

Bobbys Corner-Open Market-August.6.2010 Posted: 06 Aug 2010 05:22 AM PDT Good Morning: The USD picked up over night ahead of this morning’s US jobs data.  Data in Germany and Britain showed that industrial output is on the decline, which added to a slight drop in both the Euro and GBP.  This morning’s report is being watched by all investors, as the pace of the US economic recovery has been the subject that most FX  investors  have been focusing on.  The pace of any economic recovery is always measured by sustainable job growth, along with manufacturing growth.  The markets will also focus on the increase in private payrolls-as this measure may be a better gauge of the US’s economic picture. Asian equity markets were mixed, and European markets are higher.  US Futures are also pointing to a higher opening this morning. Oil:$81.76                                         Gold:$1197.40 TIME FOR  EST PRIOR 8:30A.M. CHANGE IN NONFARM PAYROLLS JULY -63K -125K 8:30A.M. CHANGE IN PRIVATE PAYROLLS JULY 90K 83K 8:30A.M. CHANGE IN MANUFACT. PAYROLLS  JULY 10K 9K 8:30A.M. UNEMPLOYMENT RATE  JULY 9.60% 9.50% 8:30A.M. AVG.HOURLY EARNING MoM ALL EMP. JULY 0.10% -0.10% 8:30A.M. AVG.HOURLY EARNING YoY ALL EMP. JULY 1.60% 1.70% 8:30A.M. AVG. WEEKLY HOURS ALL EMP. JULY       34.1O 34.1O 3:00P.M. CONSUMER CREDIT JUNE -$5.3B -$9.1B HAVE A GREAT DAY-WEEKEND & GOOD LUCK

Key levels to watch in the EURUSD after NFP report Posted: 06 Aug 2010 05:18 AM PDT

Rebroadcast of Thursday August 5th Webinar Posted: 06 Aug 2010 05:14 AM PDT Rebroadcast of Thursday August 5th Webinar Click Here to watch

US Nonfarm Payrolls & Unemployment Rate due at 8:30AM Posted: 06 Aug 2010 04:58 AM PDT

Preview of the Unemployment release and the key technical levels to watch Posted: 06 Aug 2010 04:43 AM PDT In this report, I review the expected details of the unemployment report and look at the key levels to watch for the major currency pairs including the EURUSD, GBPUSD, and USDJPY. The Canada Unemployment report already came out weaker than expected. The 1.0205 is the key level to watch for that currency pair. Above should bullish, below should be bearish after the US data is known

Canadian Unemployment Posted: 06 Aug 2010 04:01 AM PDT Net Employment Change - Survey: 12.5K   Actual: -9.3K   Prior: 93.2K Unemployment Rate - Survey: 7.9%   Actual: 7.9%   Prior: 7.9%

German Industrial Prodution m/m Posted: 06 Aug 2010 03:01 AM PDT Euro lost some ground against the major currencies after German June industrial production came in at -0.6% versus the forecast of 0.5% and prior reading of 2.6%.

S&P Withdraws AAA/A-1+ Ratings on Swiss National Bank Posted: 06 Aug 2010 02:42 AM PDT Following the release, the USD/CHF traded to a session high of 1.0507, but immediately came off and is now trading around 1.0475. EUR/USD traded to a session low of 1.3165, but rebounded modestly.

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