Forex Market Updates & Commentary

Key Economic Releases and Events for October 11th Week
Webinar Registration for Tuesday Oct 12th, 2010
NY Opening Forex Commentary. IMF fails to get the market interested
Euro Recovering
Italian ind. production better than expected at 1.6%
Italian ind. production in 20 minutes…
Euro Falls
Cable Finding Possible Support Around 1.5919
French Industrial Production m/m
ECB’s Quaden; countries can only lose currency wars
Kiwi Trading Off Gap Opening, Heading Towards 61.8% Hourly Retracement
Not much data tonight, French ind. production at 2:24 am EST
In case you missed it…
10-11 Economic Calendar
Aussie Home Loans and Investment Lending

Key Economic Releases and Events for October 11th Week

Posted: 11 Oct 2010 06:46 AM PDT

Webinar Registration for Tuesday Oct 12th, 2010

Posted: 11 Oct 2010 06:44 AM PDT

fxdd_reg_pic0577

Our next FXDD Webinar Tuesday is coming up on October 11th at 4pm ET. You do need to register to attend. Click on the following link to register for Tuesday and Thursdays webinars:

CLICK HERE TO REGISTER

NY Opening Forex Commentary. IMF fails to get the market interested

Posted: 11 Oct 2010 04:47 AM PDT

Euro Recovering

Posted: 11 Oct 2010 01:47 AM PDT

After the previous post, the EUR/USD pair continued lower to a session low of 1.3916. The fall earlier caused by a release that China raised its reserve requirements by 50 basis points for six of its largest banks. Since the news the pair has recovered is is now testing the 61.8% line.

10-11-3-hourly

Italian ind. production better than expected at 1.6%

Posted: 11 Oct 2010 01:06 AM PDT

Italian ind. production in 20 minutes…

Posted: 11 Oct 2010 12:38 AM PDT

10-11-italian-ind-prod

Euro Falls

Posted: 11 Oct 2010 12:35 AM PDT

The EUR has been falling continuously for the last 20 minutes. Seen here on the EUR/USD hourly chart, the pair has pushed through the 61.8% level and tested the 50.0%; it appears the downward momentum pay be cooling. A further move brings us to the 38.2% line at 1.39075. It should also be noted that the pair has filled the gap from the opening….

10-11-2-hourly

Cable Finding Possible Support Around 1.5919

Posted: 10 Oct 2010 11:55 PM PDT

Cable tested the 1.5919 level, which was a support level from the middle of last week; it has since recovered to the high 30’s. If support holds, we may see the pair re-visit the session high of 1.59626 which it has tested twice already today. A move and close through the 1.5919 level may be a bearish signal in which case the next downside target would be the 38.2% line at 1.58959.

10-11-hourly2

French Industrial Production m/m

Posted: 10 Oct 2010 11:47 PM PDT

Came in at 0.0% versus the 0.3% forecast and prior reading of 0.9%.

ECB’s Quaden; countries can only lose currency wars

Posted: 10 Oct 2010 11:06 PM PDT

During an interview with Bloomberg TV ECB’s Quaden says countries can only lose currency wars. Here are some more points from interview;

* global recovery still fragile

* Euro-area growth will remain positive, growth will be more moderate

* double dip not most probable for U.S.

* must avoid excessive forex volatility

Kiwi Trading Off Gap Opening, Heading Towards 61.8% Hourly Retracement

Posted: 10 Oct 2010 11:01 PM PDT

After a gap opening, the NZD/USD pair is traded continually lower is now approaching the 61.8% line on the move from the October 7th high to the low on the 8th; coming in at .75280. If momentum continues, the next downside target is the 50.0% line at .75085.

10-11-hourly1