Forex Market Updates & Commentary

---

• EURJPY coiling for a move. Be aware. Be prepared
• Forex Morning Report- Sept 21
• EURUSD and the 1.3124 level. Time to make a move?
• Housing Starts & Building Permits Data Stronger
• Bobbys Corner-Open Market-Sept.21.2010
• US Building & Housing Starts Data due at 8:30AM
• NY Opening Forex Commentary as the market prepares for the Fed
• Canada CPI falls by -0.1% Up 1.7% YoY
• Greece sell 390 million euros of 13 week t-bills; Ireland sells 500 million of 2014 bonds
• ECB’s Wellink on the wires
• UK Public Sector Net Borrowing
• EU’s Barroso on Ireland
• Swiss Trade Balance
• 9-21 Economic Calendar
• RBA Meeting Minutes

EURJPY coiling for a move. Be aware. Be prepared Posted: 21 Sep 2010 06:28 AM PDT The EURJPY has been coiling for a move. The pair has been in a narrow trading range over the last 3-4 days after the sharp move higher last week. This has allowed the 100 hour MA to catch up to the price. What direction will the market decide? Be aware. Be prepared

Forex Morning Report- Sept 21 Posted: 21 Sep 2010 06:25 AM PDT Forex Morning Report- Sept 21

EURUSD and the 1.3124 level. Time to make a move? Posted: 21 Sep 2010 05:46 AM PDT

Housing Starts & Building Permits Data Stronger Posted: 21 Sep 2010 05:33 AM PDT Housing Starts:    Survey: 550K    Actual: 598K    Prior: 546K    Revised: 541K Housing Starts (MoM)%:    Survey: 0.7%    Actual: 10.5%    Prior: 1.7%    Revised: .4%  Building Permits:    Survey: 560K    Actual: 569K    Prior: 565K    Revised: 559K Building Permits (MoM)%:    Survey: 0.2%    Actual: 1.8%    Prior: -3.1%    Revised: -4.1%

Bobbys Corner-Open Market-Sept.21.2010 Posted: 21 Sep 2010 05:17 AM PDT Good Morning: The USD dropped overnight ahead of today’s US data.  The markets expect that the report will show that the US housing markets is still in shambles.  This data just adds to the growing concern that US economic recovery is faltering. Other factors contributing to the greenback’s decline is that the announcement from the FOMC-expected today at 2:15 PM,  is expected to reaffirm keeping interest rates at record low levels for an “extended period”. The Euro has stayed strong as both Spanish and Irish bond auctions have been extremely well received by investors. Asian equity markets were mixed-while Europe is higher.  US Futures are also pointing to a higher opening this morning. Oil was relatively unchanged-and Gold traded near record highs as a weaker US and signals from the Fed that they need to do more to stimulate economic growth has spurred demand for the metal. Oil:$73.91                                                        Gold:$1276.20    TIME FOR EST. PRIOR 8:30A.M. HOUSING STARTS AUG 550K 546K 8:30A.M. HOUSING STARTS MoM AUG 0.70% 1.70% 8:30A.M. BUILDING PERMITS AUG 560K 565K 8:30A.M. BUILDING PERMITS MoM AUG 0.20% -3.10% 2:15P.M. FOMC RATE DECISION          HAVE A GREAT DAY & GOOD LUCK

US Building & Housing Starts Data due at 8:30AM Posted: 21 Sep 2010 05:07 AM PDT

NY Opening Forex Commentary as the market prepares for the Fed Posted: 21 Sep 2010 04:42 AM PDT NY Opening Forex Commentary as the market prepares for the Fed

Canada CPI falls by -0.1% Up 1.7% YoY Posted: 21 Sep 2010 04:14 AM PDT The headline inflation fell by 0.1% and the core increases by 0.1%. The YoY headline CPI meanwhile rost by 1.7% while the core CPI rose by as an expected 1.6%. The headline data was a bit weaker than expected (ex 0.0% and 1.9% respectively). The USDCAD has moved higher off the weaker data.

Greece sell 390 million euros of 13 week t-bills; Ireland sells 500 million of 2014 bonds Posted: 21 Sep 2010 02:21 AM PDT These promising sales have sent Eur/Usd to test 1.3150. The pair has since retreated to 1.3135.

ECB’s Wellink on the wires Posted: 21 Sep 2010 02:04 AM PDT ECB Governing Council member Nout Wellink told this to Market News International; * ECB may delay exit if it hurts economy’ would reconsider exit if growth at risk * baseline scenario for growth still okay * doesn’t expect significant rise in market rates in 4th quarter * not too pessimistic on U.S. economy * Greece still on track * satisfied with policies regarding the Euro

UK Public Sector Net Borrowing Posted: 21 Sep 2010 01:37 AM PDT UK Public Sector Net Borrowing for August came in at 15.3B, a larger deficit than the 12.5B expected. This is the highest level for an August on record. Gbp/Usd trades at 1.5545.

EU’s Barroso on Ireland Posted: 20 Sep 2010 11:35 PM PDT EU’s Barroso says Ireland is taking courageous measures on its finances. Barroso feels the EU is closely monitoring the situation and sees Ireland as taking the proper measures on its deficit.

Swiss Trade Balance Posted: 20 Sep 2010 11:18 PM PDT The Swiss trade surplus is 0.57B, less than the 1.97B expected and prior reading of 2.84B. Eur/Chf and Usd/Chf unaffected upon release, trading at 1.3165 and 1.0153 respectively.

9-21 Economic Calendar Posted: 20 Sep 2010 08:55 PM PDT

RBA Meeting Minutes Posted: 20 Sep 2010 06:40 PM PDT The Aussie had a muted reaction to the following RBA Meeting Minutes: Higher rates likely needed if growth trend continues. Sees economic growth at trend, or bit above, in the coming years. Significant flow on from resource sector investment. Risks include US downturn, sharp China slowdown. Australian financial system much stronger than most. Household sectors reduced debt appetite continuing. Growth slowing in Asia to more sustainable pace. Members noted investment booms pose significant challenges. Need to ensure inflation consistent with medium-term target. Prospects in resource sector ‘especially positive.’ The AUD/USD pair has had a strong move through the summer and prospects for the country continue to lead the way as compared to other economies around the world. In addition, the AUD has greatly benefited from a rising rate structure, while the Euro, USD and JPY continue to ease. However from a technical perspective we see the pair has traded off the 161.8% retracement of the August move and is also approaching the top end of the channel that has provided pull backs on the pair throughout the summer.

You are subscribed to email updates from Forex News and Commentary by FXDD To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610