Forex Market Updates & Commentary |  |
- Forex Morning Commentary_EURUSD breaks 200 day MA
- GBPUSD looks to the downside retracement target
- Canada record Current Account deficit
- 8:30AM Economic Data Shows Improvement, Current Account Down
- NY Opening Forex Commentary-Irish debt can’t help Euro
- Canada 3Q Current Account due at 8:30AM
- Canada Industrial Product Price & Raw Materials Data due at 8:30AM
- UK Final Mortgage Approvals & Net Lending
- 11-29 Economic Calendar
- Japanese retail sales were worse than expected at -0.2%
- Japanese Retail Sales (y/y) at 6:50 (eastern)
| Forex Morning Commentary_EURUSD breaks 200 day MA Posted: 29 Nov 2010 06:14 AM PST The EURUSD broke through the 200 day MA at the 1.3129 level. Risk to 1.3139 now. The GBPUSD is looking toward the 38.2%of the move up from the May 2010 low to the high in November. That level comes in at 1.5507 The USDCHF remains a safe haven currency (along with the US dollar) and remains below the 100 day MA at the 1.0060 level. As long as the price can remain below this key technical level, the bias remains to the downside. EURJPY is under pressure as it tests the 50% retracement of the move up from the August low. The pair has remained below the 100 day MA for the 5th day now and seems to want to make a break to the downside. Canada had a record current account deficit today which should pressure the C$ (boost the USDCAD). Watching resistance above for that pair |
| GBPUSD looks to the downside retracement target Posted: 29 Nov 2010 05:57 AM PST |
| Canada record Current Account deficit Posted: 29 Nov 2010 05:39 AM PST Lower demand for lumber and autos and a strong C$ led to lower exports. The currency effect and weaker demand for building lumber from the US keeps the US fragile. This should pressure the C$ (USDCAD higher). However, the pair has dipped on the report. The intraday support comes in at the 1.0197 level where the 100 and 200 bar MA on the 5 minute chart is found. Look for buyers against this level with stops on a move below.
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| 8:30AM Economic Data Shows Improvement, Current Account Down Posted: 29 Nov 2010 05:32 AM PST Industrial Product Price (MoM): Survey: 0.3% Actual: 0.5% Prior: 0.2% Revised: 0.3% Raw Materials Price Index: Survey: 0.9% Actual: 1.7% Prior: -0.4% Revised: -.5% Current Account (BOP): Survey: -15.2B Actual: -17.5B Prior: -11.0B Revised: -13.0B |
| NY Opening Forex Commentary-Irish debt can’t help Euro Posted: 29 Nov 2010 05:12 AM PST |
| Canada 3Q Current Account due at 8:30AM Posted: 29 Nov 2010 04:49 AM PST
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| Canada Industrial Product Price & Raw Materials Data due at 8:30AM Posted: 29 Nov 2010 04:35 AM PST
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| UK Final Mortgage Approvals & Net Lending Posted: 29 Nov 2010 01:33 AM PST UK Final Mortgage Approvals came in as expected at 47,000. Net lending to indviduals m/m came in at 1.3B, stronger than the 0.8B expected. Gbp /Usd was bought up 20 minutes prior to release of figure, rising from 1.5582 to 1.5620. The pair has been relatively unchanged since release. |
| Posted: 28 Nov 2010 08:46 PM PST
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| Japanese retail sales were worse than expected at -0.2% Posted: 28 Nov 2010 03:51 PM PST The market had a limited reaction to the release. |
| Japanese Retail Sales (y/y) at 6:50 (eastern) Posted: 28 Nov 2010 03:42 PM PST
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