Forex Market Updates & Commentary

GBPUSD moves between support and resistance as non-trend continues
The NY Morning Forex Commentary: Stocks open higher, help risk pairs in quiet Monday trade
USDJPY makes a move to the downside. Is there a will to test the downside?
EURUSD in the narrowest daily trading range since Dec 2007
Chicago Fed Activity Index Stronger Data
The NY Opening Forex Commentary is available for viewing.
German bank rescue fund to close in December
Eurozone Flash PMI
German Flash PMI
French Flash PMI
8-23 Economic Calendar
The USD Marginally Weaker
Webinar with Greg Michalowski Tuesday August 24 4pm EST
The Weekend Forex Review for August 22nd week

GBPUSD moves between support and resistance as non-trend continues

Posted: 23 Aug 2010 07:23 AM PDT

The NY Morning Forex Commentary: Stocks open higher, help risk pairs in quiet Monday trade

Posted: 23 Aug 2010 06:52 AM PDT

USDJPY makes a move to the downside. Is there a will to test the downside?

Posted: 23 Aug 2010 05:54 AM PDT

USDJPY makes a move to the downside. Is there a will to test the downside?

EURUSD in the narrowest daily trading range since Dec 2007

Posted: 23 Aug 2010 05:39 AM PDT

The 48 pips trading range today in the EURUSD is the narrowest trading range since Dec 24th 2007. DO you think it will hold up and be a 2 plus year record. I don’t think so. So expect a movebelow the 1.2681 low or above the 1.2681 high at some point today. I will look to use the 100 and 200 bar MA at the 1.2707 level as my barometer for sentiment. CLick for technical review.

Chicago Fed Activity Index Stronger Data

Posted: 23 Aug 2010 05:30 AM PDT

Chicago Fed Nat Activity Index: Survey: -0.10 Actual: .00 Prior: -0.63 Revised: -.70

The NY Opening Forex Commentary is available for viewing.

Posted: 23 Aug 2010 04:55 AM PDT

German bank rescue fund to close in December

Posted: 23 Aug 2010 01:17 AM PDT

German banks will pay into rescue fund until September 30, though a culmination of the current bank rescue fund to come in December, states a German official.

Eur/Usd traded up to 1.2710 on the news.

Eurozone Flash PMI

Posted: 23 Aug 2010 01:02 AM PDT

Eurozone Flash Services PKI came in at 55.6, inline with expectations and slightly weaker than the prior reading of 55.8.

Manufacturing PMI came in at 55.0, weaker than the 56.3 expected and prior reading of 56.7.

Eur/Usd is trading slightly firmer at 1.2698.

German Flash PMI

Posted: 23 Aug 2010 12:37 AM PDT

German Flash Manufacturing PMi came in at 58.2, weaker than the 60.9 expected and the 61.2 prior reading.

Services PMI came in at 58.5, stronger than the 56.3 expected and prior reading of 56.5.

Eur/Usd had sold off just prior of release to 1.2685. The pair currently trades at 1.2693.

French Flash PMI

Posted: 23 Aug 2010 12:03 AM PDT

French Flash Services PMI came in at 59.9, weaker than the 60.7 expected and prior reading of 61.2.

Flash Manufacturing PMI came in at54.7, stronger than the 53.3 expected and prior reading of 53.9.

Eur/Usd unchanged upon release in very quiet trading at 1.2715.

8-23 Economic Calendar

Posted: 22 Aug 2010 08:50 PM PDT

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The USD Marginally Weaker

Posted: 22 Aug 2010 07:39 PM PDT

The USD has given back some of its earlier gains after moving the Euro below the 1.27 handle for a brief period in an Asian session lacking any data. The story this morning in the Far East is the close election in Australia that has somehow edged the AUD/USD higher, currently sitting above the 89 handle. The Yen is also bid, with USD/JPY selling off the top of the 4-hr Bollinger Band, but the pair could find some bids ahead of the 85 handle. The 4-100hr moving average offered strong technical resistance last week and could offer a positive short-term outlook on the pair if its broken to the upside.

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