Forex Market Updates & Commentary |  |
- Gold surges higher attracting the interest of the EURUSD
- Forex Morning Report- August 12th
- S&P Case-Shiller on the wires
- USDJPY in Code RED Mode. What key levels should be watched
- EURUSD tests 100 day and 100 month MA. 38.2% retracement support
- Jobless Claims Come in Higher & Import Price Index Weaker
- Import Price Index & Jobless Claims Data 8:30AM
- NY Opening Forex Commentary. Focus on the JPY/Euro Industrial Production
- Eurozone June Industrial Production weaker than expected
- Eur/Usd weaker after BoJ commentary
- Noda declines comment on intervention
- Euro’s retracement stalls out
- Japanese Household Confidence
- Kan says “Forex moves are rough”
- 8-12 Economic Calendar
| Gold surges higher attracting the interest of the EURUSD Posted: 12 Aug 2010 06:59 AM PDT |
| Forex Morning Report- August 12th Posted: 12 Aug 2010 06:32 AM PDT Forex Morning Report- August 12th |
| Posted: 12 Aug 2010 06:23 AM PDT Most economist saying US housing markets will avoid another major downturn, however they are predicting it will be another five years until US house prices revisit the 2006 peak. |
| USDJPY in Code RED Mode. What key levels should be watched Posted: 12 Aug 2010 05:51 AM PDT |
| EURUSD tests 100 day and 100 month MA. 38.2% retracement support Posted: 12 Aug 2010 05:34 AM PDT |
| Jobless Claims Come in Higher & Import Price Index Weaker Posted: 12 Aug 2010 05:32 AM PDT Import Price Index(MoM): Survey: 0.3% Actual: 0.2% Prior: -1.3% Import Price Index(YoY): Survey: 5.4% Actual: 4.9% Prior: 4.5% Revised: 4.2% Initial Jobless Claims: Survey: 465K Actual: 484K Prior: 479K Revised: 482K Continuing Claims: Survey: 4535K Actual: 4452K Prior: 4537K Revised: 4570K |
| Import Price Index & Jobless Claims Data 8:30AM Posted: 12 Aug 2010 05:15 AM PDT
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| NY Opening Forex Commentary. Focus on the JPY/Euro Industrial Production Posted: 12 Aug 2010 04:54 AM PDT |
| Eurozone June Industrial Production weaker than expected Posted: 12 Aug 2010 02:05 AM PDT Eurozone June Industrial Production -0.1%, weaker than the 0.7% expected. Eur/Usd is off another 20 points to 1.2840, not far from the 1.2829 short term target cited in earlier posts. |
| Eur/Usd weaker after BoJ commentary Posted: 12 Aug 2010 01:55 AM PDT Eur/Usd threatened to trade above the 1.2920 resistance line we provided in an ealier post and failed to gain a foothold above. The pair is off 60 points since the BoJ did not cite intervention during its press conference and now has 1.2829 in its sights.
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| Noda declines comment on intervention Posted: 12 Aug 2010 01:40 AM PDT Japanese Finance Minister Noda declines to comment on currency intervention. He sees excessive forex moves as harmful to Japanese economy and will monitor closely. The market was anticipating stronger commentary from the FinMin and in turn Usd/Jpy has sold off about 40 points to 85.30. |
| Posted: 11 Aug 2010 11:50 PM PDT Eur/Usd has been slowly rebounding from its earlier low of 1.2829. The pair seems to have run into some resistance at 1.2920. If Eur/Usd can break above this level look for a move to 1.2981 which is the 38.2% fibo retracement of move down from 1.3227. If remains below then a retest of 1.2829 is likely.
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| Posted: 11 Aug 2010 10:02 PM PDT Japanese Household Confidence came in at 43.3, weaker than the 44.2 expected and 43.5 prior reading. Usd/Jpy is unchanged at 85.27. |
| Kan says “Forex moves are rough” Posted: 11 Aug 2010 09:42 PM PDT Japanese PM Kan tells chief cabinet secretary that “forex moves are rough” sending Usd/Jpy and Eur/Jpy to new highs of 85.40 and 110.07 respectively. There has been speculation that the BoJ may intervene in the currency markets and this comment perpetuates that sentiment. |
| Posted: 11 Aug 2010 08:53 PM PDT
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