Forex Market Updates & Commentary

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• US House Price Index Rises, Home Sales Fall Lower
• Home Sales & House Price Index Data due at 10AM
• US GDP, Personal Consumption & PCE All Lower Than Expected
• Bobbys Corner-Open Market-Dec.22.2010
• 8:30AM US Data Includes: GDP, Personal Consumption & PCE
• UK Current Account Worse Than Expected
• German Import Prices m/m
• 12-22 Economic Calendar
• Live education rebroadcast Dec 21 2010 Webinar
• GBPUSD moves below the floor bottom at 1.5452
• EURUSD pushes below 200 day MA. 50% retracement next target
• Forex Midday Report- Dec 21
• EURUSD has broken the floor at the 1.3130 level

US House Price Index Rises, Home Sales Fall Lower Posted: 22 Dec 2010 07:15 AM PST Existing Home Sales:     Survey: 4.75m        Actual: 4.68m       Prior: 4.43m   Existing Home Sales MoM:      Survey: 7.1%        Actual: 5.6%     Prior: -2.2%     House Price Index MoM:   Survey: -0.2%       Actual: .7%      Prior: -0.7%    Revised: -1.2%

Home Sales & House Price Index Data due at 10AM Posted: 22 Dec 2010 06:00 AM PST

US GDP, Personal Consumption & PCE All Lower Than Expected Posted: 22 Dec 2010 05:31 AM PST GDP (QoQ) Annualized:      Survey: 2.8%          Actual: 2.6%            Prior:  2.5%          Personal Consumption:     Survey: 2.9%          Actual: 2.4%           Prior:  2.8%           GDP Price Index:     Survey:  2.3%         Actual: 2.1%       Prior:  2.3%        Core PCE (QoQ):    Survey:  0.8%         Actual: 0.5%        Prior: 0.8%

Bobbys Corner-Open Market-Dec.22.2010 Posted: 22 Dec 2010 05:25 AM PST Good Morning: Today we are awaiting the final GDP data for Q3.  The markets anticipate a higher than previously estimated number. The USD was a touch softer as investors look for higher-yielding assets as the economic picture globally is looking a little brighter. The euro was stronger after Germany announced that import prices rose 10% over a year ago. Cable was lower after data in the UK showed that they British economy grew at a slower pace than originally estimated. World equity markets were mixed-and US futures are flat at this time. Oil rose to over $90/bar overnight. Oil:$90.18                                                                              Gold:$1388.40   TIME FOR EST. PRIOR 7:00A.M. MBA MORTGAGE APPLICATIONS 17-Dec -2.30% 8:30A.M. GDP QoQ (ANNUALIZED0 3Q T 2.80% 2.50% 8:30A.M. PERSONAL CONSUMPTION      3Q T 2.80% 2.80% 8:30A.M. GDP PRICE INDEX  3Q T 2.30% 2.30% 8:30A.M. CORE PCE QoQ 3Q T 0.80% 0.80% 10:00A.M. EXISTING HOME SALES  NOV.  4.75M      4.43M 10:00A.M. EXISTING HOME SALES  MoM NOV. 7.20% -2.20% 10:00A.M. HOUSE PRICE INDEX MoM OCT. -0.20% -0.70% HAVE A GREAT DAY & GOOD LUCK

8:30AM US Data Includes: GDP, Personal Consumption & PCE Posted: 22 Dec 2010 04:20 AM PST

UK Current Account Worse Than Expected Posted: 22 Dec 2010 01:33 AM PST Current account came in at -9.6B versus the -8.1B forecast and 0.8% prior reading. Additionally, final GDP was also worse at 0.7% versus the 0.8% survey.

German Import Prices m/m Posted: 21 Dec 2010 11:01 PM PST Import prices came in at 1.2%; better than the 0.5% forecast and -0.2% prior reading. The market had a limited reaction to the release.

12-22 Economic Calendar Posted: 21 Dec 2010 08:50 PM PST

Live education rebroadcast Dec 21 2010 Webinar Posted: 21 Dec 2010 04:10 PM PST Live education rebroadcast Dec 21 2010 FXDD Webinar - Watch now This posting includes an audio/video/photo media file: Download Now

GBPUSD moves below the floor bottom at 1.5452 Posted: 21 Dec 2010 11:01 AM PST The level came in at the 1.5452 level. The low reached has extended to 1.5434. Looking for the price to maintain below the 1.5456 level. Otherwise, could get a reactionary move higher on the disappointment from the break. Keeping the bearish bias would target a move to test the 200 day MA at the 1.5388 level currently.

EURUSD pushes below 200 day MA. 50% retracement next target Posted: 21 Dec 2010 10:32 AM PST

Forex Midday Report- Dec 21 Posted: 21 Dec 2010 09:30 AM PST

EURUSD has broken the floor at the 1.3130 level Posted: 21 Dec 2010 07:37 AM PST The 1.3130 level has been broken and the pair has been staying below the level. The problem is the low for the day at the 1.3112 level has also held. So the market is pausing between support and resistance. Key support comes in below at the 1.3098 level which is the 200 day MA today. Yesterdays low at 1.3094 will also provide support for the pair. With the action today a move back above the 1.3130 level will likely lead to increased covering. Without the move, the downside will be further explored. Risk is limited.

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