Forex Market Updates & Commentary

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• US New Home Sales Down, Michigan Confidence Stays According to Survey
• Canada GDP Slightly Lower
• Jobless Claims Stay Put, Durable Goods Orders Weaker as Personal Spending Up a Touch
• Bobbys Corner-Open Market-Dec.23.2010
• US Durable Goods, Personal Income & Spending, PCE & Jobless Claims All Due at 8:30AM
• UK Mortgage Approvals and Index of Services
• Euro Still Lower
• Spain’s Producer Prices Better
• 12-23 Economic Calendar
• Live training with FXDD’s Shawn Powell Thursday
• Greg Michalowski Live on FXstreet Training

US New Home Sales Down, Michigan Confidence Stays According to Survey Posted: 23 Dec 2010 07:10 AM PST US New Home Sales:  Survey:  300K   Actual:  290K   Prior:  283K   Revised: 275 US New Home Sales MoM:   Survey:  6.0%   Actual:  5.5%   Prior:  -8.1%   Revised: -10.7% Nov vs. Oct Median Price:  $213,000 vs. $197,200 Average Price:  $268,700 vs. $248,700 Total Number:  21,000 vs. 22,000 Under $150K:  4,000 vs. 5,000 150K-199K: 6,000 vs. 6,000 200K-299K: 6,000 vs 6,000 300K-399K: 3,000 vs 3,000 400K-499K: 3,000 vs 3,000 500K-749K:  1,000 vs 1,000 750K and Over:  0 vs  0

Canada GDP Slightly Lower Posted: 23 Dec 2010 05:46 AM PST

Jobless Claims Stay Put, Durable Goods Orders Weaker as Personal Spending Up a Touch Posted: 23 Dec 2010 05:36 AM PST Durable Goods Orders:   Survey: -0.5%      Actual: -1.3%   Prior:  -3.3%   Revised: -3.1% Durables Ex Transportation:   Survey:  1.8%      Actual: 2.4%     Prior:  -2.7%   Revised:  -1.9% Cap Goods Orders Nondef Ex Air:   Survey:  3.1%     Actual:  2.6%    Prior:  -4.5%     Revised: -3.6% Cap Goods Ship Nondef Ex Air:    Actual:  1.0%    Prior:  -1.5%     Revised:  -1.2% Personal Income:           Survey: 0.2%         Actual:  0.3%        Prior: 0.5%    Revised: 0.4%      Personal Spending:        Survey: 0.5%         Actual: 0.4%         Prior: 0.4%       Revised: 0.7% PCE Deflator:    Survey: 1.1%         Actual:  1.0%         Prior: 1.3%         PCE Core(MoM):     Survey: 0.1%         Actual:  0.1%         Prior: 0.0%       PCE Core(YoY):    Survey:  0.9%         Actual:  0.8%         Prior:  0.9%       Jobless Claims:  Survey:  420K    Actual: 420K   Prior: 420K    Revised:  423K    Continuing Claims:  Survey: 4100K    Actual:  4064K    Prior: 4135  Revised: 4167K

Bobbys Corner-Open Market-Dec.23.2010 Posted: 23 Dec 2010 05:16 AM PST Good Morning: The dollar lost some steam as speculation that data out of the US this morning  (see below) will show that the economic recovery in the US is gaining traction-thus having investors seek higher-yielding assets versus the safe haven of the greenback. With the S&P 500 Index hitting levels that have not been seen since the collapse of Lehman Brothers, investors are being open to adding more risk to their portfolios. On another note-Fitch ratings cut Hungary’s credit rating to BBB- from BBB. World equity markets were mixed-and US Futures are flat at this time. Oil:$ 90.45                                                               Gold:$1380.60 TIME FOR EST. PRIOR REVISED 8:30A.M. DURABLE GOODS ORDERS  NOV. -0.50% -3.30% -3.40% 8:30A.M. DURABLES EX TRANSPORTATION NOV. 1.80% -2.70% -2.70% 8:30A.M. CAP GOODS ORDERS NONDEF EX AIR     NOV. 3.00% -4.50% 8:30A.M. CAP GOODS SHIP NONDEF EX AIR  NOV. -1.50% 8:30A.M. PERSONAL INCOME NOV. 0.20% 0.50% 8;30A.M. PERSONAL SPENDING  NOV. 0.50% 0.40% 8:30A.M. PCE DEFLATOR YoY NOV. 1.10% 1.30% 8:30A.M. PCE CORE MoM NOV. 0.10% 0.00% 8:30A.M. PCE CORE YoY NOV. 0.90% 0.90% 8:30A.M. INITIAL JOBLESS CLAIMS 18-Dec 420K     420K 8:30A.M. CONTINUING CLAIMS 11-Dec  4100K     4135K 9:55A.M. U. OF MICHIGAN CONFIDENCE  DEC.F  74.5O      74.2O 10:00A.M. NEW HOME SALES  NOV.        300K     283K 10:00A.M. NEW HOME SALES MoM NOV. 6.00% -8.10%   Today is FESTIVUS-”Festivus for the rest of us” HAVE A GREAT DAY & GOOD LUCK

US Durable Goods, Personal Income & Spending, PCE & Jobless Claims All Due at 8:30AM Posted: 23 Dec 2010 04:30 AM PST

UK Mortgage Approvals and Index of Services Posted: 23 Dec 2010 01:37 AM PST The market had a limited reaction to worse than expected mortgage approvals which came in at 30K versus the 31.3K forecast and 30.7K prior reading. Additionally, index of services was slightly better at 0.6%.

Euro Still Lower Posted: 23 Dec 2010 12:13 AM PST Shown below you can see that the EUR/USD found hourly resistance at the 23.6% retracement level on the move from December 17th highs to December 21st lows. The previous candlestick made a session high of 1.3151 reaching the 100 hour moving average. If this selling continues, the next downside target for the pair is the 0.0% line at 1.3073.

Spain’s Producer Prices Better Posted: 23 Dec 2010 12:07 AM PST Spain’s producer prices rose 4.4% in November from a year ago. Following the release the EUR/USD made a new session low of 1.3115 as U.K bond market opens lower.

12-23 Economic Calendar Posted: 22 Dec 2010 08:50 PM PST

Live training with FXDD’s Shawn Powell Thursday Posted: 22 Dec 2010 07:54 AM PST Live training with FXDD’s Shawn Powell Thursday 4pm est 1pm pst 21:00 gmt - You’ll be treated to a special class on opening live accounts and then on some key trading strategies that we seldom talk about. A special holiday show if you will for our long time listeners- Register Here

Greg Michalowski Live on FXstreet Training Posted: 22 Dec 2010 07:38 AM PST Greg Michalowski Live on FXstreet Training >> Click here to watch

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