Friday, December 10, 2010

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Greg Michalowski on FXStreet live training

Posted: 10 Dec 2010 06:58 AM PST

Here is the link to the video from Greg speaking on FXstreet yesterday morning. The feedback has been very positive. Greg teaches a 45 minute class. >> Click here to watch

Forex Morning report- Dec 10

Posted: 10 Dec 2010 06:53 AM PST

Forex Morning report- Dec 10

Bull Flag forming in USDJPY. A break of 83.93 needed

Posted: 10 Dec 2010 06:44 AM PST

fxdd-pic-1472

USDJPY extends higher on better trade

Posted: 10 Dec 2010 05:55 AM PST

EURUSD moves lower. Looks to extend the range

Posted: 10 Dec 2010 05:41 AM PST

Trade balance good for economy

Posted: 10 Dec 2010 05:33 AM PST

fxdd-pic-1469The US trade deficit much lower at -38.7b vs 44.6B last month.
Exports rose 3.2%
Imports fell by -0.5%
The Real Goods balance fell to 45.2 billion from 50.3 billion. This is what is used to calculate GDP.

When the deficit increases it is a net positive for GDP. The USDJPY has moved higher on the news. The EURUSD has fallen. The EURUSD is in a very narrow trading range with 1.3221 the low. Look for an extension.

The trade deficit with China rose to -25.5 billion from -27.8 billion. The trade balance with Europe worsened to -8.126 billion from -7.607 billion. Latin America the trade surplus rose to 2.24 billion from 0.417 billion. The deficit with OPEC increased to -5.694 billion from -8.878 billion.

Canada Trade Balance

Posted: 10 Dec 2010 05:33 AM PST

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US Trade Balance & Import Price Index Stronger

Posted: 10 Dec 2010 05:32 AM PST

Trade Balance:  Survey:  -43.8B    Actual: 38.8B      Prior:  -44.0B   Revised:  -44.6B

Import Price Index(MoM):   Survey:  0.8%    Actual: 1.3%    Prior: 0.9%   Revised: 1.0%

Import Price Index(YoY):    Survey: 2.8%    Actual: 3.7%    Prior: 3.6%  

The NY Opening Forex Commentary is available for viewing

Posted: 10 Dec 2010 05:17 AM PST

Live Education Webinar Rebroadcast Dec 9th 2010

Posted: 10 Dec 2010 05:00 AM PST

fxdd_rebroadcast

FXDD Live Education Webinar Rebroadcast Dec 9th 2010 >>Click to watch

This posting includes an audio/video/photo media file: Download Now

Canada Trade Balance Due at 8:30AM

Posted: 10 Dec 2010 04:45 AM PST

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China raises reserve requirement

Posted: 10 Dec 2010 04:38 AM PST

The Peaples Bank of China announced overnight that banks will need to hold more reserves as they raised the reserve requirement by 50 basis points. This was the 3rd increase in the last 5 weeks and is an attempt to slow lending and inflationary pressures. The rate the largest banks need to hold is now 18.5%.  The trade surplus rose to 22.89 B last mont.  Exports rose by 34.9% YoY. Imports increased 37.7% b but exports at $153.3 billion is still well above the total imports of $130.4 billion.

In October they raised interest rates but there is speculation that they may raise rates over the weekend.  Later tonight (9 PM ET) they will release inflationary date which is expected to rise to 4.7% from 4.4%.  This would be the highest YoY increase since August of 2008.  YoY CPI inflation was at 1.5% in January 2010.  Producer prices are expected to rise to 5.1% from 5.0%.  Retail Sales are expected to rise to +18.7% from 18.6% YoY and Industrial Production is expected to show a decline to 13.0 from 13.1%.

The market will likely be looking for an increase in the rate over the weekend if the numbers come in as expected.  A rate increase will likely pressure the commodity currencies like AUDUSD and NZDUSD. They have benefitted from the increase in exports to China.  Europe has benefitted - especially Germany - from an increase in their exports of their industrial commodities and luxury exports.  If growth slows as a result of a more concerted effort to slow growth, then this could also hurt the EU.

As a result of the increased weekend risk, there may be some added volatility today as London/Europe look to exit for the weekend.

US Trade Balance & Import Price Index Data due at 8:30AM

Posted: 10 Dec 2010 04:37 AM PST

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Germany’s Merkel on the newswires

Posted: 10 Dec 2010 04:30 AM PST

“we will do everything to defend the Euro”

UK Nov. PPI

Posted: 10 Dec 2010 01:42 AM PST

UK Nov. PPI output came in at 0.3%, weaker than the 0.4% expected.

PPI input has been delayed until Dec 13.

Gbp/Usd has come off about 15 points to 1.5805.

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