Forex Market Updates & Commentary

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• US Wholesale Inventories Rise 0.4%
• Forex Morning Report- Nov 9th
• US Wholesale Inventories due at 10AM
• Canada Home Price Index Better
• Canada New Home Price Index Data at 8:30AM
• UK Economic Data
• French Trade Balance
• Japan Economy Wathcers Survey
• 11-9 Economic Calendar
• Swan on the wires…
• Australian NAB business confidence slightly lower at 8
• Euro Moving Lower
• Aussie NAB Business Confidence coming up at 7:30 (eastern)
• UK BRC Retail Sales and RICS House Prices
• Japanese bank lending -1.9%, M2 money stock was 2.7%, and current account was better at 1.66T

US Wholesale Inventories Rise 0.4% Posted: 09 Nov 2010 07:09 AM PST Wholesale Inventories:     Survey: 0.7%     Actual: 1.5%      Prior: 0.8% September to August Ratios: Inventory/Sales : 1.18 from : 1.17 Durable goods: 1.50 from 1.49 Automotive: 1.47 from 1.45 Furniture: 1.41 from 1.38 Lumber: 1.59 from 1.60 Prof. equipment: .97 from .98 Computers: .68 from .70 Metals: 1.83 from 1.88 Electrical goods: 1.17 from 1.15 Hardware: 1.96 from 1.90 September sales were announced today cashing in at $353.9 billion up 0.4% from revised August level and up 11.9 from the September 2009 level.

Forex Morning Report- Nov 9th Posted: 09 Nov 2010 06:40 AM PST Forex Morning Report- Nov 9th

US Wholesale Inventories due at 10AM Posted: 09 Nov 2010 05:56 AM PST

Canada Home Price Index Better Posted: 09 Nov 2010 05:33 AM PST New House Price Index:    Survey: 0.1%     Actual: 0.2%      Prior: 0.1%          The total year over year house price index droped from 2.9% to 2.7%, While the monthly data increased from 0.1% to 0.2%. The three month annualized chart is showing a drop of 0.8 from 1.5%

Canada New Home Price Index Data at 8:30AM Posted: 09 Nov 2010 04:34 AM PST

UK Economic Data Posted: 09 Nov 2010 01:35 AM PST UK Manufacturing Production for Sept. came in at 0.1%, weaker than the 0.3% expected. Industrial Production for Sept. came in at 0.4%, weaker than the 0.5% expected. UK Trade Balance came in at -8.2B, weaker than the -7.9B expected. Gbp strengthened upon release of this poor economic data. Gbp/Usd up about 20 points to 1.6115.

French Trade Balance Posted: 08 Nov 2010 11:58 PM PST French Trade Balance came in at -4.7B, weaker than the -4.0B expected. The Euro has weakened on news with Eur/Usd at 1.3850 and Eur/Jpy at 111.95, off about 25 pips each.

Japan Economy Wathcers Survey Posted: 08 Nov 2010 11:31 PM PST Japan’s Economy Watchers Survey came in at 40.2, weaker than the 41.7 expected and prior reading of 41.2. The Jpy has been gaining stregnth throughout the session, currnetly trading at 80.87 vs. the dollar.

11-9 Economic Calendar Posted: 08 Nov 2010 07:50 PM PST

Swan on the wires… Posted: 08 Nov 2010 05:51 PM PST Australian Treasurer Swan made the following comments: Doesn’t want to speculate about the AUD, or further direction. AUD moves do impact government revenue. Australia has strong emphasis on border protection. Haven’t finished full RMBS program. RMBS investment is important part of governmentnt measures. Treasury forecasting method of AUD is the same as before.

Australian NAB business confidence slightly lower at 8 Posted: 08 Nov 2010 04:37 PM PST

Euro Moving Lower Posted: 08 Nov 2010 04:17 PM PST The Euro has continued its decline early in the Asian session, as fears continue on the ability of member countries to repay their debt and sustain the austerity measures being proposed. The EUR/USD pair made a new November low @1.3847 ahead of the 4-200 hr moving average and right below the 76.4% retracement of last week’s move we just broke below. It is interesting to note the 4-200hr moving average was broken to the upside in September below the 1.29 handle after resisting the pairs appreciation for 2 months and a break below that level with the negative Euro news again filtering through the market, could lead the pair significantly lower, not withstanding the Fed’s QE2 which is already ‘baked into the cake.’

Aussie NAB Business Confidence coming up at 7:30 (eastern) Posted: 08 Nov 2010 04:08 PM PST

UK BRC Retail Sales and RICS House Prices Posted: 08 Nov 2010 04:04 PM PST The pound retreated against the major currencies after BRC retail sales came in at 0.8% versus the prior reading of 0.5% and the RICS house price balance was worse at -49% versus a-39% forecast and -36% prior showing. The GBP is currently trading on session lows across the board.

Japanese bank lending -1.9%, M2 money stock was 2.7%, and current account was better at 1.66T Posted: 08 Nov 2010 03:51 PM PST September imports rose 10.5% and exports rose 15.9%. The market had a limited reaction to the release.

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