Forex Market Updates & Commentary

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• Inventories Rise and so do sales
• USDJPY moves higher on NY dollar buying interest
• Forex Morning Report- Sept 10
• EURUSD Consolidates intraday as London rally hits MA resistance
• Webinar Rebroadcast from Thursday Sept 09 2010
• NY Opening Forex Commentary: Prices remains contained
• Canadian Unemployment
• UK Leading Index
• Eur/Chf running into possible resistance
• UK PPI
• Usd/Chf back to highs
• French Industrial Production
• GBP/USD Contines Lower
• Japanese Cabinet releases monthly economic report; maintains assessment
• Usd/Chf back down to 200 hour M/A

Inventories Rise and so do sales Posted: 10 Sep 2010 07:02 AM PDT Sales rose by 0.6% but Inventories rose by a greater 1.3%. As a result, the Inventory to Sales ratio moved higher. Higher inventories are good for GDP. The good news is businesses are stocking up. The potential bad news is will sales gobble up those inventories in the future. The markets are quiet. London and Europe close the next event.

USDJPY moves higher on NY dollar buying interest Posted: 10 Sep 2010 06:25 AM PDT

Forex Morning Report- Sept 10 Posted: 10 Sep 2010 06:25 AM PDT Forex Morning Report- Sept 10

EURUSD Consolidates intraday as London rally hits MA resistance Posted: 10 Sep 2010 05:18 AM PDT It remains a waiting game for the EURUSD. The pair moved below the 100 day MA in early Far East trading, only to have disappointment on failure to extend, send the pair back higher. Now the EURUSD consolidates intraday as London rally hits the 100 hour MA resistance. A bull flag is forming with a break of 1.2732 and then the 100 hour MA at 1.2742 in the way of further gains today.

Webinar Rebroadcast from Thursday Sept 09 2010 Posted: 10 Sep 2010 05:00 AM PDT Webinar Rebroadcast from Thursday Sept 09 2010 - Click here to watch

NY Opening Forex Commentary: Prices remains contained Posted: 10 Sep 2010 04:53 AM PDT

Canadian Unemployment Posted: 10 Sep 2010 04:01 AM PDT The USD/CAD sold off after after the August unemployment rate came in slightly worse at 8.1% verusus the 8.0% forecast and employment change was better at 35.8K versus the 30.8K expected and previous release of -9.3K.

UK Leading Index Posted: 10 Sep 2010 02:02 AM PDT UK leading index for July came in at 0.2% versus the prior reading of 0.5%. The GBP is currently making advances against all of the major currencies with a new session high of 1.5463 against the USD.

Eur/Chf running into possible resistance Posted: 10 Sep 2010 01:48 AM PDT Eur/Chf  has had a nice run thus far, up over 125 points in the European session. The pair broke above its 200 hour M/A of 1.2945 and has not looked back. However it may have run into some resistance at 1.3000-10 level. The 61.8% fibo of move down from 1.3159 to 1.2759 lies at 1.3006 and there has also been rumors of good institutional offers placed here. If the pair holds a run back to 1.2945 is likely. A break above may bring us to the 1.3050-60 level.

UK PPI Posted: 10 Sep 2010 01:32 AM PDT Sterling came off slightly across the board after August PPI came in slightly worse than expected. The details are as follows: PPI Input (m/m) - Survey: 0.2%   Actual: -0.5%   Prior: -1.0% PPI Output (m/m) - Survey: 0.1%   Actual: 0.0%   Prior: 0.1% The GBP is currently trading off session highs against the USD.

Usd/Chf back to highs Posted: 10 Sep 2010 12:29 AM PDT As diagrammed earlier the 200 hour M/A (1.0142) held as good support for the pair with a quick reversal bringing us back to 1.0220 with little resistance.

French Industrial Production Posted: 09 Sep 2010 11:49 PM PDT French Industrial Production for July came in at 0.9%, stronger than the 0.8% expected. Not much market effect as Eur/Usd continues to trade around 1.2675.

GBP/USD Contines Lower Posted: 09 Sep 2010 11:48 PM PDT After trading continually lower since yesterday, the GBP has retreated nearly 40 pips against the USD on this current hourly candlestick. After moving through the 100 and 200 moving averages, which are converging in the area of 1.5407, it has made an urgent move through the 61.8% fibo line on the move from the low on September 7th to the high on the 8th. The next stop on this downward stroke appears to be 1.53507, an old support level from earlier in the week. We may see a full retracement if the pair continues through this level as there is no other significant hourly levels below 1.53507.

Japanese Cabinet releases monthly economic report; maintains assessment Posted: 09 Sep 2010 10:50 PM PDT Japan maintains monthly economic assessment according to the Japanese Cabinet’s monthly report released a short time ago. Here are some bullet points from this release; * risk to economy growing amid stock drop and yen gains * upgrades assessment of capital spending * downgrades assessment of exports

Usd/Chf back down to 200 hour M/A Posted: 09 Sep 2010 10:31 PM PDT After an earlier run up to 1.0224, Usd/Chf has come off to once again test its 200 hour M/A (1.0142). This has been a good level of support for the pair and also signifies the 50% fibo retracement of move up from 1.0059 to 1.0224. If the pair can break below more support lies at 1.0122, with both the 100 hour M/A and 61.8% fibo at this level. If the pair holds there is some light resistance at 1.0161 (38.2% fibo). A further break may bring us back to earlier highs.

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