Forex Market Updates & Commentary

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• US Housing Data Slightly Lower
• Can USDJPY find support?
• NAHB Housing Market Index Data 10AM
• ECB Funding to Portuguese Banks increased 21% from June. Pressures EURUSD
• The NY Morning Forex Commentary. EURUSD supported back. Dollar the weak currency
• TIC Flows Data Negative
• Long Term TIC Flows at 9AM
• Empire Manufacturing details
• EURUSD finds the buyers above key technical levels
• US Empire Manufacturing Data Lower
• Bobbys Corner-Open Market-August.16.2010
• US Empire Manufacturing Data at 8:30AM
• Eurozone CPI as expected
• Swissie looked upon as safe haven
• Eur/Usd trading near 100 day M/A

US Housing Data Slightly Lower Posted: 16 Aug 2010 07:02 AM PDT

Can USDJPY find support? Posted: 16 Aug 2010 06:59 AM PDT

NAHB Housing Market Index Data 10AM Posted: 16 Aug 2010 06:38 AM PDT

ECB Funding to Portuguese Banks increased 21% from June. Pressures EURUSD Posted: 16 Aug 2010 06:31 AM PDT ECB funding to Portuguese banks increased 21% from June and this is pressuring the EURUSD from the 1.2868 resistance area.  The key support level on the downside remains the 100 day MA at the 1.2795 level.  Interim support may come in at 1.2810 where the 100 bar MA on the 5 minute chart is found.

The NY Morning Forex Commentary. EURUSD supported back. Dollar the weak currency Posted: 16 Aug 2010 06:11 AM PDT

TIC Flows Data Negative Posted: 16 Aug 2010 06:08 AM PDT Net Long-term TIC Flows:  Survey: $45.7B         Actual: $44.4B              Prior: 35.4B           Revised: $35.5B Total Net TIC Flows:        Survey: $40.0B         Actual: $-6.78B              Prior:  $17.5B          Revised: $17.1B   Total Net TIC Flows hit lowest rate since January of 2010.

Long Term TIC Flows at 9AM Posted: 16 Aug 2010 05:51 AM PDT

Empire Manufacturing details Posted: 16 Aug 2010 05:45 AM PDT General Business Activity 7.1 vs 5.08 Prices Paid 20.0 vs 25.40 Prices Received -2.9 vs -1.59 New Orders -2.7 vs 10.13 (lowest since June 2009) Shipments -11.5 vs 6.31 Unfilled Orders -10.0 vs -15.87 Delivery Time 0.0 vs -7.94 Inventories 2.9 vs 6.35 Employees 14.3 vs 7.94 Although employment was higher, New Orders were down

EURUSD finds the buyers above key technical levels Posted: 16 Aug 2010 05:35 AM PDT

US Empire Manufacturing Data Lower Posted: 16 Aug 2010 05:34 AM PDT

Bobbys Corner-Open Market-August.16.2010 Posted: 16 Aug 2010 05:22 AM PDT Good Morning: The week starts out with disappointing data from Japan.  The GDP data from Japan printed at .1% compared to the .6% expected.  This data suggests that the strength of the  global recovery may be weaker than expected as the world’s 3rd largest economy cools down as consumer demand dwindles in Japan. Data from the UK also was disappointing, as the housing sector shows an overall slowdown. China made comments that they are “bullish” on Europe and Japan, and are slowing their purchases of US Treasuries. Chinese officials commented that the purchases are part of a fiscal plan including that ”diversification should be a basic principle”.  Market watchers will be keeping an eye on this development-as this will make it a bit more difficult for the USD to rebound from June’s peak prices. Asian equity markets were mixed, and European markets are lower.  US Futures are also pointing to a lower opening this morning. Oil:$75.54                                                                            Gold:$1224.60    TIME FOR  EST PRIOR 08:30AM EMPIRE MANUFACTURING   AUGUST  10.OO   5.O8 09:00AM NET LONG TERM TIC FLOWS  JUNE  ——-   $35.4B 09:00AM TOTAL NET TIC FLOWS  JUNE  ——-  $ 17.5B 10:00AM NAHB HOUSING MARKET INDEX  AUGUST    15.O    14.O HAVE A GREAT DAY & GOOD LUCK

US Empire Manufacturing Data at 8:30AM Posted: 16 Aug 2010 04:57 AM PDT

Eurozone CPI as expected Posted: 16 Aug 2010 02:06 AM PDT Eurozone CPI y/y came in at 1.7%, inline with expectations and its prior reading. Core CPI y/y came in at 1.0%, inline with exepctations and a slight improvement over the 0.9% prior reading. No market reaction to figures as Eur/Usd trades at 1.2785.

Swissie looked upon as safe haven Posted: 16 Aug 2010 12:14 AM PDT The CHF is stronger against the Usd and Eur as the currency is being looked upon by funds as a safe haven as protection against weaker equity prices. Usd/Chf is off 100 points to 1.0412 and Eur/Chf  about 80 points to 1.3350 in the first hour of European trade.

Eur/Usd trading near 100 day M/A Posted: 15 Aug 2010 11:04 PM PDT After trading lower earlier in the session Eur/Usd has recouped some of its losses and is testing its 100 day M/A of 1.2794. It will be interesting to see if the Europeans propel the pair through this level or view this as a selling opportunity. A break above could bring Eur/Usd to 1.2900 or higher. If this level holds a considerable sell off is possible, with 1.2605 a good downside target (50% fibo).

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