Forex Market Updates & Commentary

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• Chicago PMI Strong
• Chicago PMI Data Due at 9:45AM
• Forex Morning Report- Sept 30
• Canada GDP Stays According to Forecast
• Jobless Claims Lessen as GDP Rises but Still Subpar
• Bobbys Corner-Open Market-Sept.30.2010
• US Jobless Claims & GDP Price Index Data at 8:30AM
• Canada GDP Data Due at 8:30AM
• Fisher Speaks
• EUR/USD Reaches 0.0% Line And Retreats
• Eurozone/Italian CPI
• In 10 Minutes….
• USD/CHF Finding Some Hourly Resistance At .97918
• Sterling Trades Higher Following BOE Credit Conditions Survey
• German Unemployment Change Better Than Expected

Chicago PMI Strong Posted: 30 Sep 2010 06:45 AM PDT Chicago purchasing manager data comes out much stronger at 60.4 vs. a projected 55.5 and a prior 56.7.

Chicago PMI Data Due at 9:45AM Posted: 30 Sep 2010 06:32 AM PDT

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

Canada GDP Stays According to Forecast Posted: 30 Sep 2010 05:34 AM PDT

Jobless Claims Lessen as GDP Rises but Still Subpar Posted: 30 Sep 2010 05:33 AM PDT GDP QoQ(Annualized):      Survey: 1.6%          Actual: 1.7%            Prior:  1.6%          Personal Consumption:     Survey: 2.0%          Actual: 2.2%           Prior:  2.0%           GDP Price Index:     Survey:  1.9%         Actual:  1.9%       Prior:  1.9%        Core PCE (QoQ):    Survey:  1.1%         Actual: 1.0%        Prior: 1.1%        Jobless Claims:     Survey: 460K    Actual: 453K    Prior: 465K    Revised: 469K    Continuing Claims:      Survey: 4473K    Actual: 4457K    Prior: 4489K    Revised: 4540K

Bobbys Corner-Open Market-Sept.30.2010 Posted: 30 Sep 2010 05:30 AM PDT Good Morning: The continued sovereign debt plaguing Europe seems to be taking a back seat lately.  The markets are more focused on the positive economic data coming out of Germany and France-thus the Euro rally that we have witnessed during the past few weeks. The Irish government announced that the bailout of Anglo Irish Bank may cost upwards of 29-34 billion euros. Also, Moody’s downgraded Spanish debt.  Both of these events were highly expected by the markets-and did not cause much damage to the Euro overall.   World equity markets were lower-as are US Futures. Oil rose, and gold climbed to another record. Oil:$78.70                                            Gold:$1314.80 TIME FOR EST. PRIOR 8:30A.M. GDP QoQ (ANNUALIZED) 2Q T 1.60% 1.60% 8:30A.M. PERSONAL CONSUMPTION 2Q T 2.00% 2.00% 8:30A.M. GDP RICE INDEX 2Q T 1.90% 1.90% 8:30A.M. CORE PCE QoQ 2Q T 1.10% 1.10% 8:30A.M. INITIAL JOBLESS CLAIMS 25-Sep 460K 465K 8:30A.M. CONTINUING CLAIMS 18-Sep 4468K    4489K 9:45A.M. CHICAGO PURCHASING MGR. SEPT.      55.9O      56.7O 10:00A.M. NAPM -MILWAUKEE SEPT. 58.O 59.O HAVE A GREAT DAY & GOOD LUCK

US Jobless Claims & GDP Price Index Data at 8:30AM Posted: 30 Sep 2010 05:05 AM PDT

Canada GDP Data Due at 8:30AM Posted: 30 Sep 2010 04:56 AM PDT

Fisher Speaks Posted: 30 Sep 2010 02:15 AM PDT Paul Fisher, BOE Executive Director, made the following comments while speaking at the Loan Market Association Syndicated Loans Conference in London: UK banks will take some years to recover. Lending capacity of UK banks is still impaired. Plenty of evidence that QE worked in restoring liquidity. BOE can’t intervene to aid specific markets. Lending to firms is more expensive versus pre-crisis. Most markets have recovered to some degree.

EUR/USD Reaches 0.0% Line And Retreats Posted: 30 Sep 2010 02:10 AM PDT Before we mention that the next topside target for the euro was 1.3646, and after a push following a slightly better Italian CPI release a few minutes ago it made a new session high of 1.3646. After touching the line, it has traded lower and it now in the ballpark of 1.3636.

Eurozone/Italian CPI Posted: 30 Sep 2010 02:04 AM PDT Eurozone CPI Flash Estimate (y/y) - Survey: 1.8%   Actual: 1.8%  Prior: 1.6% Italian CPI (m/m) - Survey: 0.0%   Actual: -0.2%   Prior: 0.2%

In 10 Minutes…. Posted: 30 Sep 2010 01:54 AM PDT

USD/CHF Finding Some Hourly Resistance At .97918 Posted: 30 Sep 2010 01:39 AM PDT With the two prior hourly candlesticks finding resistance at .97918, which is the 23.6% retracement line on the move from Sept 21 highs to yesterday’s lows, the pair may be looking at .9733 as the next downside target.

Sterling Trades Higher Following BOE Credit Conditions Survey Posted: 30 Sep 2010 01:32 AM PDT Q3 Corporate Credit Available Net: 7.8% vs 7.1% in Q2 Q3 Secured Household Credit Available net: 8.3% vs 6.3% in Q2 Q3 Unsecured Household Credit Available Net: - 3.5% vs -0.6% in Q2

German Unemployment Change Better Than Expected Posted: 30 Sep 2010 12:57 AM PDT The Euro traded slightly higher in reaction to Germany’s unemployment change which was -40K versus the forecast of -20K and prior showing of -17K.

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