Forex Market Updates & Commentary

US Existing Home Sales Horrific Data
The NY Morning Commentary: Flight to quality continues
US Existing Home Sales Data 10AM
USDCAD continues move higher on lower oil and Retail Sales
Canada Retail Data Worse than Expected
EURUSD and USDJPY fall through the target support levels. EURJPY scoots lower
NY Morning Commentary: Lots of key technical levels to watch as market trends overnight
Bobbys Corner-Open Market-August.24.2010
Canada Retail Sales Data at 8:30AM
S&P’s Wyss comments on U.S.
Eurozone Industrial Orders
British Bankers Association Mortgagae Approvals
Noda has no comment on intervention
Noda to hold press conference
Dollar falls to 84.57 Yen

US Existing Home Sales Horrific Data

Posted: 24 Aug 2010 07:03 AM PDT

Existing Home Sales: Survey: 4.65M Actual: 3.83M Prior: 5.37M Revised: 5.26M

Existing Home Sales(MoM): Survey: -13.4% Actual: -27.2% Prior: -5.1% Revised: -7.1%

Richmond Fed Manufacturing Index: Survey: 8 Actual: 11 Prior: 16

12.5 month supply on the market up sharply from the 8.9 month supply of last month.

The NY Morning Commentary: Flight to quality continues

Posted: 24 Aug 2010 06:13 AM PDT

US Existing Home Sales Data 10AM

Posted: 24 Aug 2010 05:56 AM PDT

USDCAD continues move higher on lower oil and Retail Sales

Posted: 24 Aug 2010 05:41 AM PDT

Canada Retail Data Worse than Expected

Posted: 24 Aug 2010 05:31 AM PDT

Retail Sales: Survey: 0.4% Actual: .1 Prior: -0.2% Revised: -.4

Retail Sales Less Autos (MoM): Survey: 0.1% Actual: -.5 Prior: -0.1% Revised: -.3

EURUSD and USDJPY fall through the target support levels. EURJPY scoots lower

Posted: 24 Aug 2010 05:30 AM PDT

NY Morning Commentary: Lots of key technical levels to watch as market trends overnight

Posted: 24 Aug 2010 05:12 AM PDT

Bobbys Corner-Open Market-August.24.2010

Posted: 24 Aug 2010 04:44 AM PDT

Good Morning:

The Yen rose to a 15 year high against the USD, as continued concerns that the global recovery is faltering has investors running to the safe refuge of the JPY. The USD also rose.
Data out of Europe suggested that the German economy is showing strength.
Today we have data in the US regarding the ailing US housing market. The expectations are for more disappointing news regarding Existing Home Sales.

World equity markets are mostly lower, and US Futures are also pointing to a lower opening this morning.

Oil:$72.45 Gold:$1219.90

TIME		FOR	EST	PRIOR
10:00A.M.	RICHMOND FED MANUFACT. INDEX	AUG.		16.O
10:00A.M.	EXISTING HOME SALES YoY	JULY	4.73M	5.37M
10:00A.M.	EXISTING HOME SALES MoM	JULY	-11.70%	-5.10%

HAVE A GREAT DAY & GOOD LUCK

Canada Retail Sales Data at 8:30AM

Posted: 24 Aug 2010 04:37 AM PDT

S&P’s Wyss comments on U.S.

Posted: 24 Aug 2010 03:03 AM PDT

The U.S. has a realistic possibility of falling into a Japanese style economic slump, says David Wyss, chief economist at Standard and Poor’s. “I think there is a realistic possibility in the U.S. that iy’s slipping into this pattern like Japan has, 10 to 20 years of stagnation,” Wyss said at a seminar in Tokyo.

Eur/Usd has felt the affects of these comments as the pair has just made a new low of 1.2603.

Eurozone Industrial Orders

Posted: 24 Aug 2010 02:02 AM PDT

Eurozone Industrial Orders m/m came in at 2.5%, stronger than the 1.6% expected and weaker than prior reading of 3.8%.

Eur/Usd currently trades at 1.2632.

British Bankers Association Mortgagae Approvals

Posted: 24 Aug 2010 01:37 AM PDT

BBA Mortgage Approvals came in at 33,698, a touch less than the 34,000 expected and prior reading of 34,575.

Gbp/Usd unaffected upon release, trading at 1.5390.

Noda has no comment on intervention

Posted: 24 Aug 2010 01:02 AM PDT

Noda has no comment on currency intervention sending Usd/Jpy to fresh low of 84.43, Eur/Jpy to 106.57.