Forex Market Updates & Commentary

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• EURUSD breaks higher above 1.2871 resistance. 1.2917 and 1.2931 key level now
• Business Inventories rise by 1%. Sales increase too
• USDCAD tests trendline support AGAIN
• Forex Morning Report- Sept 14
• EURUSD remains stuck in the mud post Retail Sales
• Bobbys Corner-Open Market-Sept.14.2010
• US Advanced & Core Retail Sales Higher
• Advanced Retail Sales Data 8:30AM
• NY Opening Forex Commentary: Ranges still in charge
• German ZEW Economic Sentiment
• UK August CPI
• Kan obtains majority of DPJ local voter support; wins election
• German WPI
• Japan Revised Industrial Production
• 9-14 Economic Calendar

EURUSD breaks higher above 1.2871 resistance. 1.2917 and 1.2931 key level now Posted: 14 Sep 2010 07:12 AM PDT

Business Inventories rise by 1%. Sales increase too Posted: 14 Sep 2010 07:03 AM PDT Sales gained 0.7%. The Inventory to Sales Ratio (see chart above courtesy of Bloomberg remained at 1.26 months. A year ago, this ratio was at 1.35. This is at low levels from a historical standpoint.

USDCAD tests trendline support AGAIN Posted: 14 Sep 2010 06:29 AM PDT Stronger data out of Canada today has strengthened the CAD$ (weakened the USDCAD). However, the USDCAD is down testing support against a floor trendline. The price has tested this level at least 6 times including the last two hourly bars. A break will target 1.0205. For a review, click on the following link.

Forex Morning Report- Sept 14 Posted: 14 Sep 2010 06:25 AM PDT Forex Morning Report- Sept 14

EURUSD remains stuck in the mud post Retail Sales Posted: 14 Sep 2010 05:56 AM PDT The EURUSD remains contained post the Retail Sales report this morning. The 1.2871 level will be eyed above today as will the key 1.2917 and 1.2931 levels. These levels represent the high over the last month of trading for the EURUSD. On the downside, the correction lower after yesterday’s trend move higher has been well short of the 38.2% retracement at the 1.2807 level Watch the levels for clues. The market is contained but the potential exists for a break. Be aware. For the full review click on the following link.

Bobbys Corner-Open Market-Sept.14.2010 Posted: 14 Sep 2010 05:33 AM PDT Good Morning: The JPY rose to a 15 year high against the USD as Japan re-elected Naoto Kan as Prime Minister.  Kan will return as the head of the Democratic Party of Japan.  His re-election should signal that Japan will be less likely to intervene and weaken the YEN.  It appears that the USD/JPY pair will be driven more by US data than any new policy changes from Japan. UK CPI rose again, and investors are concerned as UK monetary authorities have had a loose monetary policy, and now there is a concern that inflation will start to increase and may cause some issues in the near term for the UK monetary authorities. US RETAIL SALES printed at +.4%  better than expected. Equity markets are mixed-and US Futures areup small at this time. Gold rallied-and is closing in on it’s all time time. Oil: $76.80                                   Gold:$1260.10 TIME  FOR EST. PRIOR 8:30A.M. ADVANCE RETAIL SALES  AUG. 0.30% 0.40% 8:30A.M. RETAIL SALES LESS AUTOS AUG. 0.30% 0.20% 8:30A.M. RETAIL SALES EX AUTO & GAS  AUG. -0.10% 10:00A.M. IBD/TIPP ECONOMIC OPTIMISM  SEPT. 43.6O 10:00A.M. BUSINESS INVENTORIES JULY 0.60% 0.30% HAVE A GREAT DAY & GOOD LUCK

US Advanced & Core Retail Sales Higher Posted: 14 Sep 2010 05:31 AM PDT Advance Retail Sales:           Survey:  0.3%            Actual:  .4%               Prior:  0.4%           Revised:  .3% Core Retail Sales:           Survey:  0.3%            Actual: .6%               Prior: 0.2%                 Revised:  %

Advanced Retail Sales Data 8:30AM Posted: 14 Sep 2010 05:11 AM PDT

NY Opening Forex Commentary: Ranges still in charge Posted: 14 Sep 2010 04:59 AM PDT

German ZEW Economic Sentiment Posted: 14 Sep 2010 02:01 AM PDT The EUR traded lower after Germany’s ZEW economic sentiment was -4.3; worse than the forecast of 10.7 and prior reading of 14.0. German ZEW Comments: Financial markets experts see no rise in capital utilization in second half. Put greater weight on risks. Risk of double dip remains low. Experts see U.S. slowdown. The following additional data was also released at the same time: Eurozone Industrial Production (m/m) - Survey: 0.2%   Actual: 0.0%   Prior: -0.1% Eurozone ZEW Economic Sentiment - Survey: 14.9   Actual: 4.4   Prior: 15.8

UK August CPI Posted: 14 Sep 2010 01:32 AM PDT The Pound got a boost from better than expected CPI data of of the UK, making a new session high of 1.5437 against the USD. The details are as follows: CPI (y/y) - Survey: 2.9%   Actual: 3.1%   Prior: 3.1% Core CPI (y/y) - Survey: 2.6%   Actual: 2.8%   Prior: 2.6% RPI (y/y) - Survey: 4.6%   Actual: 4.7%   Prior: 4.8%

Kan obtains majority of DPJ local voter support; wins election Posted: 13 Sep 2010 11:37 PM PDT Jpy strengthens on news with Usd/Jpy making a new low at 83.10.

German WPI Posted: 13 Sep 2010 11:11 PM PDT Ther market had a limited reaction to a better than expected German WPI which came in at 1.6% versus the forecast of 0.3% and prior showing of -0.3%.

Japan Revised Industrial Production Posted: 13 Sep 2010 09:43 PM PDT Japan Revised Industrial Production m/m came in at -0.2%, weaker than the 0.3% expected. This release had no impact on forex markets as Usd/Jpy, Eur/Jpy, and Gbp/Jpy continue to trade at 83.35, 107.35, and 128.35 respectively.

9-14 Economic Calendar Posted: 13 Sep 2010 08:53 PM PDT

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