Forex Market Updates & Commentary

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• US House Price Index Falls
• EURUSD: The Trend is indeed your Friend. When is it not?
• Forex Morning Report- Sept 22
• GBPUSD and EURGBP linked closely today. Be aware
• Bobbys Corner-Open Market-Sept.22.2010
• Canada Retail Sales fall. Worse than expected
• Canada Leading Indicators Stronger as Retail Sales Fall
• Canada Leading Indicators and Retail Sales Data at 8:30AM
• The NY Opening Forex Commentary. Dollar selling dominates trade
• Eurozone Industrial New Orders
• BoE votes 8-1 to keep rate at 0.5%, bond plan remains at 200B
• Eur/Usd above 200 day M/A
• 9-22 Economic Calendar
• BOJ on the Wire
• Westpac Leading Index

US House Price Index Falls Posted: 22 Sep 2010 07:20 AM PDT

EURUSD: The Trend is indeed your Friend. When is it not? Posted: 22 Sep 2010 06:45 AM PDT

Forex Morning Report- Sept 22 Posted: 22 Sep 2010 06:30 AM PDT Forex Morning Report- Sept 22

GBPUSD and EURGBP linked closely today. Be aware Posted: 22 Sep 2010 05:56 AM PDT

Bobbys Corner-Open Market-Sept.22.2010 Posted: 22 Sep 2010 05:40 AM PDT Good Morning: The USD dropped like a stone in overnight trading as speculation that the Fed’s continued easing of monetary policy will lower demand for the greenback, and other USD based assets.  The FOMC statement also left the markets with the increased likelihood that the Fed may ease more in the future to help spur the ailing US economy.  The FOMC statement also commented that inflation will stay in check for the time being-but is something that they have their eye on.  The Fed also stated that it may resume their debt purchase program-thus adding more cash to the economy. The Euro gained as Portugal, Spanish and Irish bond sales went better than expected. Asian equity markets were higher, and Europe is lower at this time.  US Futures are lower at this time. Gold rose to a new record-and Oil rose to over $75/bar. Oil:$75.49                                  Gold:$1295.10   TIME FOR EST. PRIOR 07:00AM MBA MORTGAGE APPLICATIONS  SEP 17    ——–   -8.9O% 10:00AM HOUSE PRICE INDEX MoM  JULY    -O.2%    -O.3% HAVE A GREAT DAY & GOOD LUCK

Canada Retail Sales fall. Worse than expected Posted: 22 Sep 2010 05:35 AM PDT The worse than expected Canada Retail Sales sent the USDCAD higher but the price held the 100 hour MA on the upside. With the dollar bearishness, that level will be a level to sell against by traders with a stop above the 200hour MA at the 1.0285 level (green line in the chart above) . The level comes in at the 1.0278.

Canada Leading Indicators Stronger as Retail Sales Fall Posted: 22 Sep 2010 05:32 AM PDT Leading Indicators MoM:          Survey:  0.3%           Actual:  .5%          Prior:  0.4%             Retail Sales:       Survey: 0.6%        Actual: -.1%       Prior:  0.1%        Revised: .0% Retail Sales Less Autos (MoM):      Survey: 0.4%       Actual:  -.4%     Prior:  -0.5%     Revised: -.6%

Canada Leading Indicators and Retail Sales Data at 8:30AM Posted: 22 Sep 2010 04:52 AM PDT

The NY Opening Forex Commentary. Dollar selling dominates trade Posted: 22 Sep 2010 04:49 AM PDT The NY Opening Forex Commentary. Dollar selling dominates trade

Eurozone Industrial New Orders Posted: 22 Sep 2010 02:05 AM PDT Eurozone Industrial New Orders for july came in at -2.4%, weaker than the -1.2% expected. Eur/Usd currently trades at 1.3320.

BoE votes 8-1 to keep rate at 0.5%, bond plan remains at 200B Posted: 22 Sep 2010 01:41 AM PDT Sentance voted for rate increase, would like to raise rates gradually. Well communicated policy needed for higher rates. Some BoE members saw more probability to raising stimulus. MPC said services could weaken, consumer data promising. CPI upside risk hasn’t changed materially though ready to respond in either direction. Gbp retreats upon release with Gbp/Usd down to 1.5628 and Eur/Gbp at 85.01.

Eur/Usd above 200 day M/A Posted: 22 Sep 2010 12:28 AM PDT Yesterday’s Fed suggestion of the possiblityof providing more stimuli to U.S. economy has sent the dollar to slide, causing Eur/Usd to close above its 200 day M/A of 1.3214. The pair has since traded up to 1.3329 and may have its sights set on a full retracement of move beginning with high of 1.3691 back on may 12. If we see a pullback, 1.3170 seems to be a good base signifying some old daily highs.

9-22 Economic Calendar Posted: 21 Sep 2010 08:55 PM PDT

BOJ on the Wire Posted: 21 Sep 2010 08:03 PM PDT BOJ member Ryuzo Miyao had the following comments: To act in timely and appropriate manner. The impact of a strong Yen and weak stocks may not be small. Must watch the impact on unstable FX, stocks on firms. Japan economy likely to slow temporarily. US economy may fall into protracted low growth. Drops in US Treasury yields reflect low inflation. Slowdown in overseas economies likely to continue. The USD/JPY fell back below the 85 handle today as we saw it trade off some trendline resistance, through the 4-200hr moving average and approach the 4-100hr moving average and former trendline resistance, where we might see some support in the middle of the 84 handle.

Westpac Leading Index Posted: 21 Sep 2010 07:14 PM PDT Another positive report for the Aussie has printed new 2010 highs.  The Westpac Leading Index for July came in at 0.4%, higher than the flat reading of 0.0% the prior month. The AUD/USD pair has broken through the 161.8% level we discussed yesterday and is approaching the top of trendline resistance @ the ~96.20 area. A move through this level could spur fresh buying and perhaps a move toward parity against what is today a seemingly weak USD pressured by no inflation and a dovish Fed.

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