Forex Market Updates & Commentary

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• Forex Morning Report- August 9th
• EURUSD has resistance against 1.3264 area.
• Bobbys Corner-Open Market-August.9.2010
• NY Opening Commentary looks at EURUSD GBPUSD USDJPY and USDCAD
• ECB’s Orphanides Comments in Reuters Interview:
• Eurozone Sentix Investor Confidence
• German Trade Balance
• Japanese Economy Watchers Sentiment
• 8-9 Economic Calendar
• Aussie Home Loans & Investment Lending
• Japan’s Current Account Total

Forex Morning Report- August 9th Posted: 09 Aug 2010 06:30 AM PDT Forex Morning Report- August 9th

EURUSD has resistance against 1.3264 area. Posted: 09 Aug 2010 05:37 AM PDT

Bobbys Corner-Open Market-August.9.2010 Posted: 09 Aug 2010 05:12 AM PDT Good Morning: The first overnight session of the week was lackluster at best, as investors concentrated on the equity markets. The rally in world equity markets kept the Yen lower-as demand for the safe haven of the JPY waned. Friday’s weak NFP data from the US weighed heavily on the USD. The FED is expected to announce a new round of quantitative easing at the end of the  FOMC’s meeting tomorrow. As the US data shows disappointing results, the  Euro Zone has been showing promising data lately.  The weaker jobs growth data on Friday is showing investors that the US economic recovery is unsustainable without jobs creation. World equity markets rose-and US Futures are also pointing to a higher opening this morning.  Oil and gold also rose, as did commodities in general. Oil:$81.40                                                    Gold:$1208.40 No major data due out today. HAVE A GREAT DAY & GOOD LUCK

NY Opening Commentary looks at EURUSD GBPUSD USDJPY and USDCAD Posted: 09 Aug 2010 04:59 AM PDT

ECB’s Orphanides Comments in Reuters Interview: Posted: 09 Aug 2010 03:00 AM PDT ECB may revise up growth forecasts. Says not worried about the increase in inflation. Inflation pick-up is due to energy price swings. The question of further monetary easing “not pertinent”. Government bond plan is stabilizing, even with no buys. ECB remains sensitive to bank liquidity needs. ECB aims toward appropriately accommodative policy. Sees “no urgency” in changing monetary policy stance.

Eurozone Sentix Investor Confidence Posted: 09 Aug 2010 01:31 AM PDT The euro relatively unchanged after June’s investor confidence came in better than the 1.6 survey, at 8.5.

German Trade Balance Posted: 08 Aug 2010 11:02 PM PDT The EUR traded slightly higher after Germany’s June trade balance came in better than expected. The details are as follows: Trade Balance - Survey: 12.0B   Actual: 14.1B   Prior: 9.1B Imports (m/m) - Survey: -2.0%   Actual: 1.9%   Prior: 14.8% Exports (m/m) - Survey: 1.5%   Actual: 3.8%   Prior: 9.2%

Japanese Economy Watchers Sentiment Posted: 08 Aug 2010 10:07 PM PDT July economic sentiment for Japan came in at 46.6; worse than the survey of 48.8 and prior showing of 48.3. The market had a limited reaction to the release.

8-9 Economic Calendar Posted: 08 Aug 2010 08:57 PM PDT

Aussie Home Loans & Investment Lending Posted: 08 Aug 2010 06:39 PM PDT The June Aussie Home Loans release came in below expectations at -3.9% versus the estimate of -2.0% and the prior reading of +1.9%. The Investment Lending reading also came in lower than the prior month at -3.6% (+2.6% prior.) The Aussie traded weaker on the release toward session lows, but the market remains quiet following Friday’s USD sell off after another poor US employment report.

Japan’s Current Account Total Posted: 08 Aug 2010 04:54 PM PDT The June Current Account Total did little to affect a dormant market early on Monday in Asia. Current Account Total - Survey:1311.6B   Actual:1047.1B   Prior:1205.3B Adjusted Current Account Total - Survey:1447B   Actual:1362.1B   Prior:904.8B Trade Balance - Survey:784B   Actual:769B   Prior:391B

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