Forex Market Updates & Commentary

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• US Non Manufacturing comes in weaker
• EURUSD tests 38.2% Fibo resistance at 1.2871 level
• Forex Morning Report- Sept 3
• USDCAD tests support at 1.0425 level.
• GBPUSD can’t conquer 38.2% retracement and comes back off
• NYU Professor Roubini on the Wires
• EURUSD remains contained between support and resistance
• GBPUSD breaks 200 hour MA…1.5467 next target (38.2% retracement)
• EURUSD using the 38.2% first resistance
• Payrolls Numbers Better as Unemployment Stays the Same
• US Employment better than expected. Revisions better as well
• Bobbys Corner-Open Market-Sept.3.2010
• Market remains contained as the Key Employment Report eyes
• Key Technical Levels to watch through the US Employment Report
• US Nonfarm Payroll & Unemployment Rate Data 8:30AM

US Non Manufacturing comes in weaker Posted: 03 Sep 2010 07:04 AM PDT 51.5 vs expectation of 53.2 Employment comes in at 48.2 vs 50.9 last month New Orders comes in at 52.4 vs 56.7 last month Backlog Index comes in at 50.5 vs 52 last month USDJPY falls below support at 84.80 level. 84.50 next support target.

EURUSD tests 38.2% Fibo resistance at 1.2871 level Posted: 03 Sep 2010 06:39 AM PDT The EURUSD is up testing the 38.% retracement of the move down from the August 6th high to the low on August 24th. That level comes in at the 1.2871 level. The high for the day reached 1.2872 minutes after the NFP report. A break above will target the 1.2900 level where the trendline off recent highs come in.

Forex Morning Report- Sept 3 Posted: 03 Sep 2010 06:30 AM PDT Forex Morning Report- Sept 3

USDCAD tests support at 1.0425 level. Posted: 03 Sep 2010 06:23 AM PDT

GBPUSD can’t conquer 38.2% retracement and comes back off Posted: 03 Sep 2010 05:53 AM PDT The price is back between the trendlines now and down toward the 200 day MA at 1.5427.

NYU Professor Roubini on the Wires Posted: 03 Sep 2010 05:52 AM PDT Roubini Says: US job data extremely mediocre Sees advanced economies growth below potential Eurozone growth ‘weak at best’ U.S.; Japan both at risk of double dip recession Bumpy road for recovery Hopefully we can avoid the double dip recession Fiscal adjustment in spain ‘Not Enough’ US economy slowing Any stimulus in the U.S. wouldnt be meaningful Sees fiscal drag next year of as much as 1.5% of GDP

EURUSD remains contained between support and resistance Posted: 03 Sep 2010 05:49 AM PDT 1.2812 remains support 1.2871 remains resistance. Noise in between.

GBPUSD breaks 200 hour MA…1.5467 next target (38.2% retracement) Posted: 03 Sep 2010 05:46 AM PDT …and trendline.  Looking for increased upside momentum with 1.5468 the next target to get through. The high on Wednesday came in at 1.5488. The close last week was 1.5511 and 50% retracement is 1.5512

EURUSD using the 38.2% first resistance Posted: 03 Sep 2010 05:40 AM PDT The level comes in at 1.2871.  A break above targets the 1.2896 trendline resistance

Payrolls Numbers Better as Unemployment Stays the Same Posted: 03 Sep 2010 05:32 AM PDT Change in Nonfarm Payrolls:         Survey:  -105K          Actual:  -54K          Prior:  -131K      Revision: -54K Change in Manufacturing Payrolls:         Survey: 10K          Actual: -27K           Prior:  36K          Revised: 34K Change in Private Payrolls:         Survey: 40K          Actual: 67K          Prior:  71K          Revised: 107K Unemployment Rate:         Survey:  9.6%          Actual: 9.6%          Prior:  9.5%       Avg Hourly Earning (MoM) All Emp:    Survey:  0.1%          Actual: .3%          Prior:  0.2%          Avg Hourly Earning (YoY) All Emp:    Survey:  1.6%          Actual: 1.7%          Prior:  1.8%       Avg Weekly Hours All Employees:    Survey:  34.2          Actual: 34.2          Prior:  34.2

US Employment better than expected. Revisions better as well Posted: 03 Sep 2010 05:31 AM PDT Non Farm Payroll -54K vs -105 expected. Revision July -54K vs -131K.  -175 in June vs -221 originally Private Payroll 67 vs 40 K expected Revison to 107K from 71K Unemployment Rate 9.6% vs 9.6% expected Revisions are higher for July as well. USDJPY moves higher. Look for support at 84.71-84.80 now.  85.45 next target.

Bobbys Corner-Open Market-Sept.3.2010 Posted: 03 Sep 2010 05:29 AM PDT Good Morning: A fairly quiet night ahead of this morning’s jobs report.   GBP lost ground as UK PMI printed lower than expected.  This data will show that Q3 UK growth will slow, and speculation mounts that Q4 will not fare well. The USD stayed weak-as it has most of the week .  With US data showing weakness for the past few months, today’s jobs data will be widely watched, as it is anticipated that the data will again disappoint market participants. Speculation that the FED will continue to keep interest rates at record lows will keep pressure on the greenback. Asian equity markets were mixed.  European markets are higher and US futures are flat at this time. Oil:$74.41                                            Gold:$1250.10 TIME FOR EST.    PRIOR 8:30A.M. CHANGE IN NONFARM PAYROLLS AUG. -100K -131K 8:30A.M. CHANGE IN PRIVATE PAYROLLS AUG. 41K 71K 8:30A.M. CHANGE IN MANUFACT.PAYROLLS AUG. 10K 36K 8:30A.M. UNEMPLOYMENT RATE AUG. 9.60% 9.50% 8:30A.M. AVG. HOURLY EARNING MoM ALL EMP. AUG. 0.10% 0.20% 8:30A.M. AVG.HOURLY EARNING YoY ALL EMP. AUG. 1.60% 1.80% 8:30A.M. AVG. WEEKLY HOURS ALL EMPOYEES        AUG.     34.2O       34.2O 10:00A.M. ISM NON -MANUF. COMPOSITE AUG. 53.2O        54.3O HAVE A GREAT DAY -WEEKEND & GOOD LUCK

Market remains contained as the Key Employment Report eyes Posted: 03 Sep 2010 05:25 AM PDT GBPUSD Levels to watch USDJPY Levels to watch USDCHF Levels to watch EURJPY Levels to watch USDCAD Levels to watch

Key Technical Levels to watch through the US Employment Report Posted: 03 Sep 2010 04:57 AM PDT

US Nonfarm Payroll & Unemployment Rate Data 8:30AM Posted: 03 Sep 2010 04:55 AM PDT

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