Forex Market Updates & Commentary

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• USDCAD consolidating as it awaits BOC interest rate decision tomorrow
• Canada Ivey Purchasing Manager Slightly Better
• AUDUSD gears up for RBA Interest Rate Decision today
• Forex Morning Report- Dec 6
• Canada Ivey Purchasing Managers Index Data at 10AM
• EURUSD tests support at 1.3248.
• Canada Building Permits Fall
• USDJPY tests trendline resistance at 82.93
• The NY Opening Forex Commentary: EU Finance Ministers the focus
• Canada Building Permits Data Due at 8:30AM
• Bobbys Corner-Open Market-Dec.6.2010
• Eurozone Sentix Investor Confidence
• 12-6 Economic Calendar
• Some talking points from Bernanke’s Interview:
• Aussie ANZ Job Advertisements m/m

USDCAD consolidating as it awaits BOC interest rate decision tomorrow Posted: 06 Dec 2010 07:17 AM PST The BOC will announce their interest rate decision tomorrow. The expectation if for the central bank to keep rates unchanged at 1.00%. Today, worse than expected Building Permits but better than expected Ivey PMI index has the currency respecting technical levels. Watching the 1.0076-82 level on the topside. ON the downside the 1.0050-60 level is intraday support

Canada Ivey Purchasing Manager Slightly Better Posted: 06 Dec 2010 07:03 AM PST Canada Ivey Purchasing Manager:       Survey: 56.4       Actual: 57.5       Prior: 56.7    Purchasers Index:   57.5 vs  56.7  3-mo. average:      61.5  vs 64.3 Employment:     54.8  vs  51.7 Inventory:       41.7  vs  46.4 Supplier Delivery:   44.0   vs  50.0 Prices:        60.0    vs  63.8

AUDUSD gears up for RBA Interest Rate Decision today Posted: 06 Dec 2010 06:56 AM PST

Forex Morning Report- Dec 6 Posted: 06 Dec 2010 06:30 AM PST Forex Morning Report- Dec 6

Canada Ivey Purchasing Managers Index Data at 10AM Posted: 06 Dec 2010 06:24 AM PST

EURUSD tests support at 1.3248. Posted: 06 Dec 2010 05:44 AM PST

Canada Building Permits Fall Posted: 06 Dec 2010 05:32 AM PST Building Permits(MoM)-  Survey:  -4.0%    Actual: -6.5    Prior:  15.3%    Revised:  14.9% Sept.2010 vs. Sept(MoM) vs. Sept(YoY) Total Permits:  $6.6075  vs.   15.3%   vs.  23.9% Residential:  $3.8617 vs.  8.3%  vs.  13.2% Non-Residential:  $2.7458  vs.  26.7  vs.  42.9%

USDJPY tests trendline resistance at 82.93 Posted: 06 Dec 2010 05:30 AM PST

The NY Opening Forex Commentary: EU Finance Ministers the focus Posted: 06 Dec 2010 05:03 AM PST

Canada Building Permits Data Due at 8:30AM Posted: 06 Dec 2010 04:42 AM PST

Bobbys Corner-Open Market-Dec.6.2010 Posted: 06 Dec 2010 04:33 AM PST Good Morning: We start this week with the USD stronger amid comments by Fed Chairman Bernanke on CBS’s 60 Minutes news program.  The Fed Chairman stated that it may be possible to increase the US Governments bond purchase program to further spur the US economy-which is showing signs of anemic growth.  With Friday’s disappointing NFP data-and the unemployment rate jumping to 9.8%, the Fed must come up with a program to get the economy growing.  A 2.5% growth rate will keep the unemployment picture stable-so we need better  than 2.5% growth  to get unemployment lower, and jobs created.  He also stated that inflation is not a current concern-and that the Fed is keeping a watchful eye for any signs of  inflation. European officials seem to be split on the steps needs to contain the sovereign debt crisis hitting the continent.  European Finance Ministers are heading to Brussels today to discuss and hopefully come up with an agreed upon program on how to get  handle on the debt issues plugging the EU. Asian and European equity markets are mixed-and US Futures are lower at this time. Oil:$89.05                                         Gold:$1415.60 NO MAJOR US DATA DUE OUT TODAY.  HAVE A GREAT DAY & GOOD LUCK

Eurozone Sentix Investor Confidence Posted: 06 Dec 2010 01:39 AM PST EZ Sentix Investor Confidence came in at 9.7, weaker than the 13.2 expected and prior reading of 14.0. Eur/Usd continues its slide and is trading at 1.3193.

12-6 Economic Calendar Posted: 05 Dec 2010 08:48 PM PST

Some talking points from Bernanke’s Interview: Posted: 05 Dec 2010 04:41 PM PST Inflation fears are excessive. It is a myth that the Fed prints money. Jobless rate is one of the Fed’s major concerns. Possible that Fed could purchase more than $600B in assets.

Aussie ANZ Job Advertisements m/m Posted: 05 Dec 2010 04:32 PM PST The market had no reaction to the release which came in at 2.9%; higher than the prior showing of 0.6%.

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