Forex Market Updates & Commentary

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• ISM Data Higher with Construction Spending Hitting Decade Low
• Forex Morning Report- September 1
• ISM Data Along with Construction Spending due at 10AM
• Forex Webinar this Thursday at 4pm 21:00GMT
• Employment Change Index Negative
• Bobbys Corner-Open Market-Sept.1.2010
• ADP Employment Change Due at 8:15AM
• Webinar rebroadcast from Tuesday August 31st 2010
• Challenger Job cuts come out -54.5% vs a year ago
• Cable Approaching 0.0% Fibo Level
• Eurozone Final Manufacturing PMI
• Swiss SVME PMI
• Aussie Commodity Prices y/y
• German Retail Sales
• 9-1 Economic Calendar

ISM Data Higher with Construction Spending Hitting Decade Low Posted: 01 Sep 2010 07:01 AM PDT ISM Manufacturing:    Survey:  52.8       Actual:  56.3         Prior: 55.5 ISM Prices Paid:    Survey: 55.5         Actual:  61.5          Prior: 57.5 Construction Spending (MoM):     Survey: -0.5%         Actual: -1.0%       Prior:  .1%      Revised: -.8%   Construction spending with lowest number since 2000.

Forex Morning Report- September 1 Posted: 01 Sep 2010 06:23 AM PDT Forex Morning Report- September 1

ISM Data Along with Construction Spending due at 10AM Posted: 01 Sep 2010 06:01 AM PDT

Forex Webinar this Thursday at 4pm 21:00GMT Posted: 01 Sep 2010 05:43 AM PDT Forex Webinar this Thursday at 4pm 21:00GMT Register Here

Employment Change Index Negative Posted: 01 Sep 2010 05:16 AM PDT ADP Employment Change:          Survey:   15K              Actual:   -10              Prior:   42K              Revised:   37   USD/JPY trading lower on the news

Bobbys Corner-Open Market-Sept.1.2010 Posted: 01 Sep 2010 05:11 AM PDT Good Morning: The USD and JPY fell versus all major counterparts, as data from China showed that manufacturing is expanding.  This caused investors to seek higher-yielding assets. The Aussie rose as data showed that their economy grew by the fastest pace in over 3 years. Today we have data on the growth of US manufacturing, and the data is expected to be disappointing. On another note-The Swedish krona rose as data from this Scandinavian country showed that manufacturing expanded for the 15th month in a row. Worldwide equity markets rose on the heels of positive data from China and Australia.  US Futures are up 90 points at this time. Oil: $72.46                                              Gold:$1255.10 TIME FOR EST PRIOR 07:00AM  MBA MORTGAGE APPLICATIONS  AUG 27    ——   4.9O% 07:30AM CHALLENGER JOB CUTS YoY  AUGUST   ——-   -57.2O% 08:15AM ADP EMPLOYMENT CHANGE  AUGUST   15K   42k 10:00AM ISM MANUFACTURING  AUGUST    52.8O  55.5O 10:00AM ISM PRICES PAID  AUGUST  55.3O   57.5O 10:00AM CONSTRUCTION SPENDING MoM   JULY    -O.5%    O.1% HAVE A GREAT DAY & GOOD LUCK

ADP Employment Change Due at 8:15AM Posted: 01 Sep 2010 04:59 AM PDT

Webinar rebroadcast from Tuesday August 31st 2010 Posted: 01 Sep 2010 04:50 AM PDT Why I love the 100 and 200 bar moving average Webinar rebroadcast from Tuesday August 31st 2010 - Watch here

Challenger Job cuts come out -54.5% vs a year ago Posted: 01 Sep 2010 04:35 AM PDT Announced job cuts came in at 34,768.  This was less than last months 41,676 cuts.  The East had 10,048 vs 8113 cuts last month, the Midwest had 7,649 vs 7,465, the West had 11,955 vs 13,971 and the South had 5,116 vs 12,127. The fall is encouraging.  Later today the ADP Employment change will be announced.  The expectation for private employment is for a 15K gains vx 42K last month.  The ADP came in at 42K last month vs 71K from the Labor department.  It tends to understate the actual Labor Dept value.  On Friday, Non Farm Payroll is expected to show a 42 K increase in Private employment (this is less government).  Including the Public Employment change is expected to show a -100K fall. The fall off is largely attributed to census workers being laid off.

Cable Approaching 0.0% Fibo Level Posted: 01 Sep 2010 02:00 AM PDT The GBP/USD pair, which was on an upward trend thus far today, sold off hard after the worse then expected release of the manufacturing PMI. Show on the hourly chart below, a continuation lower could bring the pair back to the 0.0% (1.53240) line on the move from the high on August 30th to the low on August 31st. If we see a pull back, the next target to the upside is the 23.6% fibo line at 1.53828.

Eurozone Final Manufacturing PMI Posted: 01 Sep 2010 01:02 AM PDT The euro gained some strength after final manufacturing PMI came in at 55.1; better than the forecast and prior reading of 55.0. On the back of this release, the EUR made a new session high of 1.2734 against the USD.

Swiss SVME PMI Posted: 01 Sep 2010 12:36 AM PDT Swiss SVME PMI came in at 61.4, weaker than the 65.9 expected and prior reading of 66.9. Usd/Chf and Eur/Chf relatively unchanged, trading at 1.0160 and 1.2910 respectively.

Aussie Commodity Prices y/y Posted: 31 Aug 2010 11:33 PM PDT The AUD traded slightly higher after Australia’s July commodity prices (y/y) came in at 52.7%; better than the prior release of 51.0%. The Aussie dollar is currently trading off session highs against the USD.

German Retail Sales Posted: 31 Aug 2010 11:07 PM PDT German Retail Sales m/m came in at -0.3%, weaker than the 0.6% expected, but inline with prior reading of -0.3%. Market did not react to negative number out of Germany as Eur/Usd makes new high at 1.2717.

9-1 Economic Calendar Posted: 31 Aug 2010 08:50 PM PDT

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