Forex Market Updates & Commentary

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• EURUSD test borderline levels and hold. Eying 1.2768-71 above
• Gold surges higher on flight to quality
• The NY Opening Forex Commentary: USDJPY reaches new 15 year lows
• Dollar/Yen Hits 15 Year Low
• EURUSD sharply lower overnight as NY enters for the day
• German Factory Orders m/m
• Shirakawa on the wires…
• Swiss Unemployment Rate
• Japanese Leading Indicators
• RBA leaves cash rate target unchanged at 4.5%
• BOJ Leaves Rate at .10%
• 9-7 Economic Calendar
• Euro Collapses Early in Asia
• EURUSD head sharply lower as the new trading day begins
• FXDD Wins 6 Traders’ Choice Awards, Including Best Overall FX Broker

EURUSD test borderline levels and hold. Eying 1.2768-71 above Posted: 07 Sep 2010 06:58 AM PDT

Gold surges higher on flight to quality Posted: 07 Sep 2010 06:39 AM PDT

The NY Opening Forex Commentary: USDJPY reaches new 15 year lows Posted: 07 Sep 2010 06:24 AM PDT

Dollar/Yen Hits 15 Year Low Posted: 07 Sep 2010 05:54 AM PDT Dollar trades to 15-year low of 83.54 Yen in New York trading.

EURUSD sharply lower overnight as NY enters for the day Posted: 07 Sep 2010 04:51 AM PDT The NY Opening Forex Commentary outlines the key technical levels as NY enters for the day. THe EURUSD fell sharply. GBPUSD had an up and down ride. USDJPY was pressured as rates remained unchanged. EURJPY also was pressured and AUDUSD fell on the back of RBA unchanged policy and PM Gillards ability to form a government.

German Factory Orders m/m Posted: 07 Sep 2010 03:02 AM PDT The EUR made new session low of 1.2739 against the USD after Germany’s factory orders came in at -2.2% versus the forecast of 0.6% and prior showing of 3.2%.

Shirakawa on the wires… Posted: 07 Sep 2010 01:15 AM PDT Bank of Japan Governor Masaaki Shirakawa made the following comments on Tuesday: Always watching markets closely. Authorities cannot control FX markets. Global capital moves cause market fluctuations. High yen is discouraging firms from capital expenditures. Swiss franc and yen are attracting safe haven demand. US inflation expectations are still anchored. Need rapid progress on EU fiscal sanctions.

Swiss Unemployment Rate Posted: 06 Sep 2010 10:54 PM PDT The Swiss franc lost some strength after unemployment came in at 3.8%; slightly worse than the 3.7% forecast, but unchanged from the prior month.

Japanese Leading Indicators Posted: 06 Sep 2010 10:01 PM PDT The market was relatively unchanged after Japan’s leading indicators came in at 98.2%; just missing the forecast of 98.3% and prior reading of 99.0%.

RBA leaves cash rate target unchanged at 4.5% Posted: 06 Sep 2010 09:35 PM PDT The RBA has left the cash rate target unchanged at 4.5%.  Subsequently Aud has weakened against both The dollar and yen by 10-15 points with Aud/Usd at .9150 and Aud/Jpy at 76.92.

BOJ Leaves Rate at .10% Posted: 06 Sep 2010 09:09 PM PDT With a unanimous decision, the Bank of Japan left the overnight rate at .10% and the credit program at 30T yen credit program. Bond purchases were also reported at 1.8T yen. The following are comments released by the BOJ. Economy shows further signs of a moderate recovery. Japan economy likely to maintain a recovery trend. Must watch downside risks to Japanese growth and prices. The uncertainty surrounding growth is increasing. Forex and stock markets have been unstable. Exports and output are rising, but at a slower pace. BOJ to take necessary policy steps in a timely and appropriate manner. The JPY showed little change following the release.

9-7 Economic Calendar Posted: 06 Sep 2010 08:51 PM PDT

Euro Collapses Early in Asia Posted: 06 Sep 2010 05:41 PM PDT Early Tuesday morning in the Far East we saw the EUR/USD pair breakdown to the 1.28 handle in what is a thin market on a holiday weekend. The pair did however find support right at the trending 21 day moving average, although the pair is yet to retrace any losses. The EUR/CHF broke below 1.30 and continued its downward move, as safety and demand for CHF is kicking off the fall season. On a 4-hr chart we see the pair also found technical support at the bottom of its Bollinger Band.

EURUSD head sharply lower as the new trading day begins Posted: 06 Sep 2010 05:31 PM PDT The post US Labor Day trading got off to a quick start as the sleeping bear awoke and the EURUSD fell sharply. The pair is down testing support but remains below the 100 hour MA at the 1.2819 level. For a technical look at the pair, click on the following link

FXDD Wins 6 Traders’ Choice Awards, Including Best Overall FX Broker Posted: 06 Sep 2010 09:07 AM PDT I am proud to announce that FXDD has won six Traders’ Choic Awards for 2010 including the Best Overall Broker.  The recognition from these awards is a testiment to the commitment to the customer that FXDD strives toward each and every day.  We thank you for your support and look forward to many more years of professional service for your forex  trading needs.  CLICK HERE FOR THE PRESS RELEASE

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