Forex Market Updates & Commentary

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• US Factory Orders & ISM Both Higher
• FXDD free forex trading webinar Thurs Nov 4th
• US ISM & Factory Orders due at 10AM
• NY Morning Forex Commentary:The EURUSD, GBPUSD, USDJPY and USDCHF are covered
• Feds Krozner quoted on newswire
• The better ADP report has the EURUSD on the defensive
• Bobbys Corner-Market Open-Nov.3.2010
• ADP Showing Improvement in the Job Front
• The better ADP report has the USDJPY moving above the 80.84-80.88 level
• Rebroadcast of FXDD webinar Nov 2 2010
• NY Opening Forex Commentary:Election over. FOMC and other data ahead
• US ADP Employment Change Data at 8:15
• UK Services PMI stronger than expected
• Swiss Retail Sales
• 11-2 Economic Calendar

US Factory Orders & ISM Both Higher Posted: 03 Nov 2010 07:01 AM PDT ISM Non-Manf. Composite:    Survey: 53.5         Actual:  54.3            Prior: 53.2 Factory Orders:      Survey:  1.6%   Actual: 2.1%    Prior: -0.5%     Revised:  0.0%

FXDD free forex trading webinar Thurs Nov 4th Posted: 03 Nov 2010 06:49 AM PDT FXDD free forex trading webinar Thurs Nov 4th 4pm New York Time 1pm Pacific 20:00 gmt- Click here to register

US ISM & Factory Orders due at 10AM Posted: 03 Nov 2010 06:21 AM PDT

NY Morning Forex Commentary:The EURUSD, GBPUSD, USDJPY and USDCHF are covered Posted: 03 Nov 2010 06:11 AM PDT

Feds Krozner quoted on newswire Posted: 03 Nov 2010 06:04 AM PDT The Fed’s main focus is to prevent deflation.

The better ADP report has the EURUSD on the defensive Posted: 03 Nov 2010 05:37 AM PDT

Bobbys Corner-Market Open-Nov.3.2010 Posted: 03 Nov 2010 05:26 AM PDT Good Morning: Early US election results show that the Republicans took control over the House of Representatives, made gains in the Senate, and in various state houses. We will wait and see what the shift of power in the House of Representatives will mean to the average American, but for certain, this was a call to the administration that the voters are not happy with the current “State of the Union”.  The USD weakened a bit as investors flocked to higher-yielding currencies ahead of today’s Fed announcement. Speculation that the Fed will start to purchase bonds again to spur the economy, is widely anticipated. Japan was on holiday last night, so the Asian session was extremely quiet GBP rose on the heels of positive UK PMI data. All eyes will be on the Fed announcement this afternoon at 2:15 PM (EST) .  Worldwide equity markets were higher-as are US Futures.  Oil:$84.77                                   Gold:$1362.20 TIME FOR EST. PRIOR 07:00AM  MBA MORTGAGE APPLICATIONS   OCT 29    —— 3.20% 07:30AM CHALLENGER JOBS YoY JOB CUTS YoY   OCT   ——- -44.10% 08:15AM ADP EMPLOYMENT CHANGE  OCT   20K   -39K 10:00AM ISM NON-MANUF. COMPOSITE  OCT    53.5O   53.2O 10:00AM FACTORY ORDERS  SEPT 1.20%   -O.5%   02:15PM FOMC RATE DECISION  NOV 3  O.25%   O.25% HAVE A GREAT DAY & GOOD LUCK

ADP Showing Improvement in the Job Front Posted: 03 Nov 2010 05:17 AM PDT ADP employment change went to 43K from a survey of 20K and a previous figure of -39K revision come in at -2K showing great improvement. Jobs rise 43,000 in the month of October.

The better ADP report has the USDJPY moving above the 80.84-80.88 level Posted: 03 Nov 2010 05:16 AM PDT The 80.84-88 level was a key level for the USDJPY.  The next target is the 200 hour MA at the 80.97 level. A move above targets the 81.12.  Support at the 80.84 level now.

Rebroadcast of FXDD webinar Nov 2 2010 Posted: 03 Nov 2010 05:00 AM PDT Rebroadcast of FXDD webinar Nov 2 2010- Click here to watch

NY Opening Forex Commentary:Election over. FOMC and other data ahead Posted: 03 Nov 2010 04:56 AM PDT The EURUSD fell through the 1.4004-10 support but found support against the 38.2% retracement of the trend move up from yesterday.  This gave the bulls another opportunity to buy and they took the price up to the highs from yesterday.  As NY enters the support will be eyed at the 100 and 200 hour MAs at the 1.4026.  The GBPUSD was boosted by the better than expected PMI Services.  The pair moved to new highs for the week at the 1.6088 level and the high price from Ocotber at 1.6106. These levels will be support for today. The USDJPY developed a solid floor near the 80.60 level and moved higher toward the 80.84-88 resistance level.   A move above will next target resistance at the 200 hour MA at the 80.97 level.  Watch for support at the 100 hour MA at the 80.70 level For a detailed look at these pairs and more, click on the following video link.

US ADP Employment Change Data at 8:15 Posted: 03 Nov 2010 04:46 AM PDT

UK Services PMI stronger than expected Posted: 03 Nov 2010 02:33 AM PDT UK Services PMI came in at 53.2, stronger than the 52.4 expected. Gbp/Usd has made new session highs upon release, trading at 1.6110.

Swiss Retail Sales Posted: 03 Nov 2010 01:18 AM PDT Swiss Retail Sales y/y came in at 3.8%, stronger than the 1.4% expected and prior reading of 0.1%. Not much market reaction on news in a very slow trading session. Usd/Chf and Eur/Chf are unchanged trading at .9783 and 1.3733 respectively.

11-2 Economic Calendar Posted: 02 Nov 2010 08:55 PM PDT

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