Forex Market Updates & Commentary

ECB’s Trichet on the Wires
EUR/USD trades at the 200 hour moving average
Bobbys Corner-Open Market-Nov.19.2010
German PPI
11-19 Economic Calendar
Live Training Rebroadcast Nov 18 2010 webinar
Forex Midday Report- Nov 18

Posted: 19 Nov 2010 06:42 AM PST

Better supervision should mean more stable financial system
ESRB wont affect ECB monetary policy mandate
Europe needs ’sound fiscal policy’
Inflation expectations are well anchored
Macro-Prudential view should lead to better regulation
Governments must adhere to more effective surveillance

EUR/USD trades at the 200 hour moving average

Posted: 19 Nov 2010 06:11 AM PST

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The EUR/USD is cuurently trading at the 200 hour moving average, after selling off over night. The 200 MA (green line) comes in at 1.3661. This level will set the tone for the rest of the session today. There is a only a small distance to the 38.2 percent retracement level at 1.3621. The high for the week comes in at 1.3700. Either of these targets offers short term potential.

Bobbys Corner-Open Market-Nov.19.2010

Posted: 19 Nov 2010 05:58 AM PST

Good Morning:

The Euro showed some strength overnight-as speculation mounts that the “bailout” for Ireland will control the debt crisis in the EU from getting worse. An agreement on the rescue plan will help markets stabilize, and keep the fear factor at a minimum.
The USD lost steam as Fed Chairman Bernanke defends the current QE2 program to stimulate the faltering US economy.

Asian equity markets were lower after China announced that banks need to set aside higher reserve requirements to help curb inflation. European markets are following suit this morning. US Furues are also lower at this time.

Oil:$81.58 Gold:$1347.50

No major economic data today.

HAVE A GREAT DAY-WEEKEND & GOOD LUCK

German PPI

Posted: 18 Nov 2010 11:15 PM PST

German PPI m/m came in at 0.4% inline with expectations and stronger than the prior reading of 0.3%.

Eur/Usd is trading at session high of 1.3683.

11-19 Economic Calendar

Posted: 18 Nov 2010 08:50 PM PST

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