Forex Market Updates & Commentary

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• US Wholesale Inventories Rise
• Gold trying to move above the 200 hour MA
• NY Morning Forex Commentary: Initial Claims leads to move into risk
• Fitch headlines on newswires
• Stocks higher, move into risk
• Canada New Housing Price Index as expected
• Canada New House Price Index Drops From Prior Month
• US Jobless & Continuing Claims Both Drop
• Gold: A technical look at the precious metal for today
• The NY Opening Forex Commentary: Ireland downgrade sends EURUSD lower
• Jobless & Continuing Claims Data Due at 8:30AM
• Canada New House Price Index Data
• BOE holds rate at 0.5% and asset puchase plan at 200B
• Fitch downgrades Ireland to BBB+ ; outlook stable
• UK Trade Balance

US Wholesale Inventories Rise Posted: 09 Dec 2010 07:11 AM PST

Gold trying to move above the 200 hour MA Posted: 09 Dec 2010 06:56 AM PST

NY Morning Forex Commentary: Initial Claims leads to move into risk Posted: 09 Dec 2010 06:10 AM PST

Fitch headlines on newswires Posted: 09 Dec 2010 05:52 AM PST Does not share view the EURO area will break up.  Also say underlying credit fundamentals are stronger than market prices (yields) indicate.

Stocks higher, move into risk Posted: 09 Dec 2010 05:43 AM PST The better jobless claims numbers leads to higher stocks. Higher stocks equals flight into risk.  So seeing the EURUSD move higher and currencies like AUDUSD also move higher.  That is the theory at least.  PLEASE note the moves still remain contained.  The price in the EURUSD has reached a borderline objective at the 1.3242 level (38.2% of the days trading range)

Canada New Housing Price Index as expected Posted: 09 Dec 2010 05:37 AM PST The gain came in a 0.1% as per expectations. The USDCAD remains in between support and resistance as defined by the 100 and 200 hour MA (between the Goal Posts). The 200 hour MA is at the 1.0121. The 100 hour MA is at 1.0076. This level on the downside was also a floor/ceiling over the last few weeks.

Canada New House Price Index Drops From Prior Month Posted: 09 Dec 2010 05:34 AM PST New House Price Index:    Survey: 0.1%     Actual: 0.1%      Prior: 0.2% Canada Totals:  Oct. vs Sept: 2.5% vs. 2.7% House Only:  3.4%  vs.  3.8% Land Only:  0.4% vs.  0.2%

US Jobless & Continuing Claims Both Drop Posted: 09 Dec 2010 05:32 AM PST Jobless Claims:  Survey: 425K    Actual: 421 K   Prior: 436K    Revised:  438K    Continuing Claims:  Survey: 4237K    Actual:  4086K    Prior: 4270K   Revised: 4277 K

Gold: A technical look at the precious metal for today Posted: 09 Dec 2010 05:27 AM PST

The NY Opening Forex Commentary: Ireland downgrade sends EURUSD lower Posted: 09 Dec 2010 05:06 AM PST

Jobless & Continuing Claims Data Due at 8:30AM Posted: 09 Dec 2010 04:54 AM PST

Canada New House Price Index Data Posted: 09 Dec 2010 04:44 AM PST

BOE holds rate at 0.5% and asset puchase plan at 200B Posted: 09 Dec 2010 04:02 AM PST Gbp/Usd near lows of the session at 1.5737.

Fitch downgrades Ireland to BBB+ ; outlook stable Posted: 09 Dec 2010 03:13 AM PST News sent Eur/Usd to 1.3194. Moody’s: Aa2 S&P: A Fitch: BBB+

UK Trade Balance Posted: 09 Dec 2010 01:44 AM PST UK Trade Balance came in at -8.5B, wekaer than the -8.1B expected. Gbp/Usd is off about 15 points to 1.5775 since release, but move probably more attributed to the recent sell off of Eur/Usd which is currently trading at 1.3230.

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