Forex Market Updates & Commentary

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• Both Factory Orders & ISM Non-Manf. Composite Data Stronger
• USDJPY corrects higher but holds an intraday resistance level
• EURUSD found its levels 1.3376 and 1.3327 is the boundaries now
• Forex Morning Report- Dec 3
• Dollar getting sold across the board
• US Nonfarm Payroll Falls Big, Unemployment Rate Rises from 9.6% to 9.8%
• Horrible numbers. NO relief in employment. USDJPY falls sharply
• Bobbys Corner-Open Market-Dec.3.2010
• US Nonfarm Payroll, Unemployment Rate & Earnings Data due at 8:30AM
• US Unemployment Rate is the focus today. Be aware. Be prepared
• Canada Employment rate better than expected
• Greenspan on CNBC
• Eurozone Retail Sales
• UK Services PMI
• Eurozone Final Services PMI

Both Factory Orders & ISM Non-Manf. Composite Data Stronger Posted: 03 Dec 2010 07:21 AM PST

USDJPY corrects higher but holds an intraday resistance level Posted: 03 Dec 2010 07:15 AM PST

EURUSD found its levels 1.3376 and 1.3327 is the boundaries now Posted: 03 Dec 2010 06:35 AM PST

Forex Morning Report- Dec 3 Posted: 03 Dec 2010 06:25 AM PST Forex Morning Report- Dec 3

Dollar getting sold across the board Posted: 03 Dec 2010 05:45 AM PST EURUSD testing the 100 day MA at the 1.3327 level. A move above increases bullish bias. Support 1.3300 area now GBPUSD moving toward 100 day MA at the 1.5720 level. A move above increases bullish bias. Support 1.5667 now USDJPY falling below 82.87 (BOJ intervention level). Resistance at the level now

US Nonfarm Payroll Falls Big, Unemployment Rate Rises from 9.6% to 9.8% Posted: 03 Dec 2010 05:34 AM PST Change in Nonfarm Payrolls:         Survey:  150K          Actual:  39K      Prior:  151K      Revision: 172K Change in Private Payrolls:         Survey: 160K          Actual: 50K        Prior:  159K          Revised: 160K Change in Manufacturing Payrolls:         Survey: 5K     Actual:  -13K       Prior:  -7K          Revised: -11K Unemployment Rate:     Survey:  9.6%     Actual: 9.8%     Prior:  9.6%       Avg Hourly Earning (MoM) All Emp:    Survey:  0.2%     Actual: 0.0%          Prior:  0.2%          Avg Hourly Earning (YoY) All Emp:    Survey:  1.7%      Actual: 1.6%          Prior:  1.7%       Avg Weekly Hours All Employees:    Survey:  34.3      Actual: 34.3           Prior:  34.3

Horrible numbers. NO relief in employment. USDJPY falls sharply Posted: 03 Dec 2010 05:30 AM PST Headline unemployment rate 9.8% is very disappointing. The so called underemployment rate still at 17%. Change in Non Farm 39K vs 150 Expected. Private Payrolls 50 K vs 160K. Avg work week 34.3 unchanged on the month.

Bobbys Corner-Open Market-Dec.3.2010 Posted: 03 Dec 2010 05:27 AM PST Good Morning: Stronger data from the EU sent the Euro higher-as EUR/USD broke through 1.3250 level.  Better than expected EZ Services PMI and EZ Retail Sales helped keep the Euro strong.  The Bundesbank rose their growth forecast for German growth in 2011.  The ECB has delayed their exit from stimulus measures-and will make credit easier at least through March 2011. Today the markets are focused on this morning’s US  jobs data.  The consensus is that the US added jobs-and the estimate is for an increase of 150k. The problem may be that this is not a big enough number to drop the overall unemployment rate which has been holding at 9.6%. Equity markets were mostly higher-and US Futures are higher at this time. Oil:$88.19                                                           Gold:$1388.60 TIME FOR EST. PRIOR 8:30A.M. CHANGE IN NONFARM PAYROLLS NOV. 145K 151K 8:30A.M. CHANGE IN PRIVATE PAYROLLS NOV. 155K 159K 8:30A.M. CHANGE IN MANUFACT.PAYROLLS NOV. 3K -7K 8:30A.M. UNEMPLOYMENT RATE NOV. 9.60% 9.60% 8:30A.M. AVG. HOURLY EARNING MoM ALL EMP. NOV. 0.20% 0.20% 8:30A.M. AVG.HOURLY EARNINGS YoY ALL EMP. NOV. 1.70% 1.70% 8:30A.M. AVG. WEEKLY HOURS ALL EMPLOYEES NOV. 34.3O 34.3O 10:00A.M. ISM NON -MANF. COMPOSITE NOV. 54.8O 54.3O 10:00A.M. FACTORY ORDERS OCT. -1.20% 2.10% HAVE A GREAT DAY-WEEKEND & GOOD LUCK

US Nonfarm Payroll, Unemployment Rate & Earnings Data due at 8:30AM Posted: 03 Dec 2010 05:02 AM PST

US Unemployment Rate is the focus today. Be aware. Be prepared Posted: 03 Dec 2010 04:56 AM PST   US Unemployment Rate is the focus today.  For the key technical levels to watch through the number and why, click on the following link. Be aware. Be prepared

Canada Employment rate better than expected Posted: 03 Dec 2010 04:30 AM PST The Canadian Unemployment rate fell to 7.6% from 7.9%.  The number of part time jobs increased by 26.7 thousand jobs. The Full time employment change fell by 11.5 thousand jobs.  The Net change was 15.2.  They were expecting 19.8K jobs.  So rate is job, job creation is disappointing.  The CAD$ got weaker off the news (USDCAD higher) but has since come back down as traders await the US unemployment statistics at 8:30 AM. The US employment report is expected to show 150K non farm jobs added and 160 Private sector jobs.  The Unemployment rate is expected to stay at 9.6%.  The hourly earnings are expected to decline by 0.2% with YoY at 1.7%.

Greenspan on CNBC Posted: 03 Dec 2010 04:19 AM PST Treasury is crowding out other borrowers in the US. This is a good point.  The US has an increasing deficit.  The treasury issues paper.  The Fed is buying bonds an putting money back into the banks. The banks buy the bonds. They don’t lend to other borrowers.  They are crowding out the business/consumer borrower.  Now there is a question with regard to the demand by consumers/businesses but we know that borrowing from banks is tight and at time simply difficult.

Eurozone Retail Sales Posted: 03 Dec 2010 02:03 AM PST EZ Retail Sales m/m came in at 0.5%, stronger than the 0.4% expected. Euro continues to show strength as Eur/Usd trades at a new session high of 1.3250.

UK Services PMI Posted: 03 Dec 2010 01:31 AM PST UK Services PMI came in at 53.0, weaker than the 53.2 expected. Gbp/Usd was bought up prior to release (1.5661 high). The pair has since come off to trade at 1.5645 post number thus far.

Eurozone Final Services PMI Posted: 03 Dec 2010 01:03 AM PST EZ Final Services PMI came in at 55.4, stronger than the 55.2 expected. This figure had no impact on Eur/Usd, as the pair is coming off its high and trading at 1.3220.

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