Forex Market Updates & Commentary

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• Ireland comments on Anglo Irish Bank
• USDJPY moves to 84.02 resistance level
• Canada Purchasing Manager Much Higher
• USDCAD breaks 100 and 200 day on better Ivey PMI
• EURUSD trying to make a break to the upside.
• Test of key 100 and 200 day MA at 1.0384-87 in USDCAD
• USDCHF breaks above resistance after failing on break to new lows
• Forex Morning Report- Sept 8
• Canada Ivey PMI Data at 10AM
• Canada Raises Interest Rates
• Bank of Canada raises rates by 25 Basis Points
• EURJPY tests intraday support but needs to breach 106.48-60 above
• Bank of Canada Interest Rate Decision 9AM
• Bank of Canada Interest Rate decision the focus today
• Canada Building Permits Higher

Ireland comments on Anglo Irish Bank Posted: 08 Sep 2010 07:11 AM PDT IRELAND’S GOVT SAYS HAS DECIDED ANGLO IRISH BANK WILL BE SPLIT INTO A FUNDING BANK AND AN ASSET RECOVERY BANK. The EURUSD has been moving higher and remains above the 1.2732 level.

USDJPY moves to 84.02 resistance level Posted: 08 Sep 2010 07:08 AM PDT The USDJPY has moved toward to the resistance level discussed in the Opening Forex Commentary earlier today.  The level corresponds with lows that held support over the last 3 or so weeks.  Found sellers against the level on the first test.

Canada Purchasing Manager Much Higher Posted: 08 Sep 2010 07:02 AM PDT

USDCAD breaks 100 and 200 day on better Ivey PMI Posted: 08 Sep 2010 07:01 AM PDT The 1.0384 -87 level will be eyed now

EURUSD trying to make a break to the upside. Posted: 08 Sep 2010 06:57 AM PDT The EURUSD broke above the Remembered Line at the 1.2732 level.  A new high was reached at 1.2740 but the pair has pushed back below the line toward intraday support at 1.2719.  It is do or die time. Hold 1.2719 and look for a break back above 1.2732.  Fail below 1.2719 and likely going to stay contained.

Test of key 100 and 200 day MA at 1.0384-87 in USDCAD Posted: 08 Sep 2010 06:40 AM PDT Resistance now at 1.0401. If can stay below that level than look for a move through the 100 and 200 bar MA.  The clue was on the break of the 100 hour MA at the 1.0441.    It paved the way for the move lower.  Low for week will be the next target. Longer term target 1.0205.

USDCHF breaks above resistance after failing on break to new lows Posted: 08 Sep 2010 06:31 AM PDT

Forex Morning Report- Sept 8 Posted: 08 Sep 2010 06:25 AM PDT Forex Morning Report- Sept 8

Canada Ivey PMI Data at 10AM Posted: 08 Sep 2010 06:09 AM PDT

Canada Raises Interest Rates Posted: 08 Sep 2010 06:04 AM PDT Bank of Canada Rate Decision-         Survey:  1.00%           Actual:  1.00%               Prior:  0.75%

Bank of Canada raises rates by 25 Basis Points Posted: 08 Sep 2010 06:02 AM PDT This is as expected. The USDCAD is testing support at 1.0440. Cautions that a weak US economy would hamper Canada economy. NO guidance on next interest rate movement saying that rates remains accomodative but left the door open for staying pat given the global uncertainty.

EURJPY tests intraday support but needs to breach 106.48-60 above Posted: 08 Sep 2010 05:47 AM PDT

Bank of Canada Interest Rate Decision 9AM Posted: 08 Sep 2010 05:36 AM PDT

Bank of Canada Interest Rate decision the focus today Posted: 08 Sep 2010 05:35 AM PDT

Canada Building Permits Higher Posted: 08 Sep 2010 05:31 AM PDT Building Permits(MoM)-            Survey:  -4.9%                Actual:  -3.3                 Prior:  6.5%           Revised:  6.9 % Year over year Canada permits are up 33%

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