Forex Market Updates & Commentary

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• EURUSD shows the dollar buying nervousness
• Forex Morning Report- Oct 26
• Better 10 AM ET numbers. Consumer confidence and Richmond Fed
• US Consumer Confidence Rises along with House Price Index & Richmond Fed Manufacturing Index
• USDCAD moves higher with the dollar and lower oil
• US Consumer Confidence, House Price Index & Richmond Fed Manufacturing Index Data due at 10AM
• S&P CaseShiller Data Lower
• Home prices fall as per Case Shiller
• EURUSD falls to new lows in slow move down
• NY Opening Forex Commentary: GBP and JPY the focus today
• Bobbys Corner-Open Market-Oct.26.2010
• BOE Sentance on the newswires
• U.K outlook declared stable by S&P; AAA ratings affirmed.
• USD/JPY Finding Some Possible Support at 80.987
• Japanese Officials Giving USD Some Help.

EURUSD shows the dollar buying nervousness Posted: 26 Oct 2010 07:18 AM PDT The EURUSD fell to new lows post the better than expected 10 AM EST numbers but quickly rebounded. The pair still seems nervous on any dollar strength and the price has bounced back to resistance at the 1.3892 area. On the topside the 1.3928 level is the midpoint of the move down from the October 15th high to the October 20th low.  A move above the 1.3900 level will likely look back toward this comfort area.  If the price can remain below the 1.3892 area, this would keep some bullish bias in tact.

Forex Morning Report- Oct 26 Posted: 26 Oct 2010 07:05 AM PDT Forex Morning Report- Oct 26

Better 10 AM ET numbers. Consumer confidence and Richmond Fed Posted: 26 Oct 2010 07:03 AM PDT Richmond Fed comes in at 5 vs 1 expectation Shipments 5 vs 0 last month New Orders 10 vs 9 last month Order Backlog -7 vs 0 last month Capacity Utilization 3 vs -3 last month Vender lead time 8 vs 2 last month Employment 0 vs -7 last month The Consumer confidence rost to 50.2 from 48.6 last month.  The index remains at low levels. It reached a high of 62.7 in May 2010. Present situation rose to 23.9 from 23.3.  The Expectations rose to 67.8 fro 65.5.  In May when the index was at the peak the corresponding values were at 29.8 and 84.6. The USDJPY mad new highs for the day but has come off . Look for sellers against the failed high with stops above. Support remains at 81.12-19

US Consumer Confidence Rises along with House Price Index & Richmond Fed Manufacturing Index Posted: 26 Oct 2010 07:01 AM PDT Consumer Confidence:    Survey: 49.9     Actual: 50.2       Prior: 48.5     Revised: 48.6 House Price Index (MoM):      Survey: -0.2%    Actual:  0.4%     Prior:  -0.5%    Richmond Fed Manufacturing Index:      Survey: 1     Actual: 5       Prior: -2

USDCAD moves higher with the dollar and lower oil Posted: 26 Oct 2010 06:39 AM PDT

US Consumer Confidence, House Price Index & Richmond Fed Manufacturing Index Data due at 10AM Posted: 26 Oct 2010 06:14 AM PDT

S&P CaseShiller Data Lower Posted: 26 Oct 2010 06:05 AM PDT S&P/CaseShiller Home Price Ind:    Actual: 148.59    Prior: 148.91     S&P/CS 20 City (MoM%) SA:              Survey: -0.20%     Actual: -.28     Prior: 0.13%     Revised: -.21 S&P/CS Composite-20 (YOY):           Survey: 2.10%     Actual: 1.70%     Prior: 3.18%

Home prices fall as per Case Shiller Posted: 26 Oct 2010 06:03 AM PDT Yesterday, the Existing Home sales data showed a pretty good fall in the average and median prices for home sales. This data is also showing some weakness. Month on month shows a 0.2% decline. The YoY falls to +1.7% vs 3.18% last month. The USDJPY came off a little on the news but has maintained the bullish bias.

EURUSD falls to new lows in slow move down Posted: 26 Oct 2010 05:53 AM PDT

NY Opening Forex Commentary: GBP and JPY the focus today Posted: 26 Oct 2010 05:27 AM PDT

Bobbys Corner-Open Market-Oct.26.2010 Posted: 26 Oct 2010 05:24 AM PDT Good Morning: I am back from Kuwait and Qatar- and will be in Dubai and Abu Dhabi in 2 weeks-so  the  fall road trip schedule keeps getting busier. The JPY lost some ground overnight as speculation  mounts that the Bank of Japan may reenter the marketplace to keep the Yen weak.  The thought of BOJ intervention put the markets on edge during the Asian session. GBP jumped as GDP in the UK beat analysts estimates-thus putting the governments asset purchase program on hold-as they wait to see how consumers react as the holiday season approaches. Equity markets in Europe are lower-as are US Futures, after UBS announced lower than expected Q3 profits. In the US- Ford announced higher than expected earning-showing that the #2 US automaker has made significant progress in the last 2 years to build up the brand.. DuPont also beat analysts estimates. Oil:$82.06                                                    Gold:$1329.50 TIME FOR EST. PRIOR 9:00A.M. S&P CASESHILLER HOME PRICE IND. AUG. 148.91O 9:00A.M. S&P /CS 20 CITY MoM%SA AUG. -0.20% -0.13% 9:00A.M. S&P CS COMPOSITE -20 YoY AUG. 2.20% 3.18% 10:00A.M. CONSUMER CONFIDENCE OCT. 49.5O 48.5O 10:00A.M. HOUSE PRICE INDEX MoM AUG. -0.20% -0.50% 10:00A.M. RICHMOND FED MANUFACTUR INDEX OCT, O      -2.O HAVE A GREAT DAY & GOOD LUCK

BOE Sentance on the newswires Posted: 26 Oct 2010 05:22 AM PDT Encouraged that growth seems boroad based Construction more than expected Inevitable will see growth rates variation Inflation a bit of a worry Mismatch between Rates and inflation Should curb stimulus and do gradual rate hike Sentances comments should be bullish for the GBPUSD. However, the reaction by the market has so far been muted.

U.K outlook declared stable by S&P; AAA ratings affirmed. Posted: 26 Oct 2010 03:21 AM PDT The GBP traded higher following the release.

USD/JPY Finding Some Possible Support at 80.987 Posted: 26 Oct 2010 02:56 AM PDT The pair, with this hourly candlestick, has tested the 80.987 level which has show support four times since Oct 21st. If support holds, we have the 61.8% line at 81.084 and the 200 hour moving average at 81.207

Japanese Officials Giving USD Some Help. Posted: 26 Oct 2010 02:36 AM PDT Japanese officals are issuing warnings about the strength of the Yen, which is helping to push the USD higher.

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