Forex Market Updates & Commentary

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• FXstreet Webinar starting now. Free access day
• EURUSD approaches 200 bar MA and 38.2% retracement
• Forex Morning Report- Oct 14
• Canada Trade Balance Moving Higher
• PPI Data Better as Jobless Claims Rise and Trade Balance Falls
• Dollar continues its move lower and lower
• Canada Merchandise Trade Data due at 8:30AM
• US Trade Balance, PPI & Jobless Claims Data due at 8:30AM
• Bobbys Corner-Open Market-Oct.14.2010
• Weber Comments
• ECB’s Bini Smaghi on the wires…..
• USD/JPY Slips Below 81.00
• Bundesbank’s Weber Due to Speak in 20 Minutes..
• Kiwi in Tight Range
• ECB says no need to raise rates in monthly report

FXstreet Webinar starting now. Free access day Posted: 14 Oct 2010 06:54 AM PDT FXstreet Webinar starting now. Free access day Click here to watch Greg and Shawn now

EURUSD approaches 200 bar MA and 38.2% retracement Posted: 14 Oct 2010 06:21 AM PDT

Forex Morning Report- Oct 14 Posted: 14 Oct 2010 06:10 AM PDT Forex Morning Report- Oct 14

Canada Trade Balance Moving Higher Posted: 14 Oct 2010 05:37 AM PDT

PPI Data Better as Jobless Claims Rise and Trade Balance Falls Posted: 14 Oct 2010 05:32 AM PDT Producer Price Index (MoM):     Survey: 0.1%    Actual: 0.4%       Prior: 0.4%   PPI Ex Food & Energy (MoM):    Survey: 0.1%    Actual: 0.1%       Prior: 0.1%    Producer Price Index (YoY):     Survey: 3.7%    Actual: 4.0%      Prior: 3.1%    PPI Ex Food & Energy (YoY):     Survey: 1.5%    Actual: 1.6%    Prior: 1.3%    Trade Balance:         Survey:  -44.0B           Actual:  -46.3B             Prior:  -42.8B               Revised:   B Jobless Claims:             Survey: 445K        Actual:  462K         Prior: 445K        Revised:  K    Continuing Claims:      Survey: 4450K         Actual:  4399K         Prior: 4462K          Revised:  K

Dollar continues its move lower and lower Posted: 14 Oct 2010 05:15 AM PDT

Canada Merchandise Trade Data due at 8:30AM Posted: 14 Oct 2010 05:00 AM PDT

US Trade Balance, PPI & Jobless Claims Data due at 8:30AM Posted: 14 Oct 2010 04:56 AM PDT

Bobbys Corner-Open Market-Oct.14.2010 Posted: 14 Oct 2010 04:17 AM PDT Good Morning: I am writing again from Kuwait-and we will be heading to Qatar at the end of the week. The USD hit a 15 year low versus the Yen and the lowest level against the Euro since January 2010. A surprise move by the Monetary Authority of Singapore sent the dollar lower, bringing EUR/USD over 1.41 during Asia and early European trading.  The pair has now come back into the mid to upper 1.40 level. Aussie and the Loonie also rose as commodities rallied. With the markets already accepting that the Fed’s monetary easing program is a done deal-market participants are awaiting the scope of the program.  The amount of the easing policy will certainly play a roll in how much the markets will continue to sell the greenback Commodities rallied across the board, and Gold touched another record overnight.  Silver rose to the highest level since March 1980, and Oil rose. Equity markets in Asia were  higher, and European markets are mixed at this time. Oil:$83.39                                                             Gold:$1380.40 Today’s US Data: TIME FOR EST. PRIOR 8:30A.M. TRADE BALANCE AUG. -$43.3B -$42.8B 8:30A.M. PPI MoM SEPT. 0.20% 0.40% 8:30A.M. PPI EX FOOD & ENERGY MoM SEPT. 0.10% 0.10% 8:30A.M. PPI YoY SEPT. 3.70% 3.10% 8:30A.M. PPI EX FOOD & ENERGY YoY SEPT. 1.50% 1.30% 8:30A.M. INITIAL JOBLESS CLAIMS 9-Oct     445K 8:30A.M. CONTINUING CLAIMS 2-Oct    4462K HAVE A GREAT DAY & GOOD LUCK

Weber Comments Posted: 14 Oct 2010 03:47 AM PDT Tougher mechanisms are needed in order to protect European monetary union. Aid should come from individual states, not euro bonds. Measures to restructure sovereign debt should be implemented when necessary.

ECB’s Bini Smaghi on the wires….. Posted: 14 Oct 2010 03:03 AM PDT Speaking to reporters in Rome, ECB’s Bini Smaghi made comments that the European recovery appears to be in line with ECB forecasts. He also commented that it is not appropriate to talk about the “currency war”. Additionally, the ECB encourages Ireland to discuess their budget plans in order to bring more confidence to the markets.

USD/JPY Slips Below 81.00 Posted: 14 Oct 2010 02:50 AM PDT This is the first time the pair has been below the 81.00 handle since April 1995.

Bundesbank’s Weber Due to Speak in 20 Minutes.. Posted: 14 Oct 2010 02:41 AM PDT Axel Weber is due to deliver a speech in Berlin at 6:00 am EST

Kiwi in Tight Range Posted: 14 Oct 2010 02:35 AM PDT The NZD/USD is seeing strong resistance at .7642, the 0.0% line on the move from Oct 12th low to yesterday’s high. Yesterday, support was shown around the .75605 level but the pair made a move to the upside and is now having trouble moving through .7642. After finding the high, it retreated to the 23.6% line at .76035 and then re-tested .7642, followed by some more selling which, again, brought the pair back to .7642.

ECB says no need to raise rates in monthly report Posted: 14 Oct 2010 01:06 AM PDT Here are some bullet points from the ECB’s monthly report; * key interest rates remain appropriate * monetary policy stance remains accommodative * emergency measures to be adjusted as appropriate * momentum of recovery remains in place * inflation pressures remain contained

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