Forex Market Updates & Commentary | ![]() |
- ISM Non Manufacturing component pieces
- ISM Non-Manufacturing Composite Data Better
- Forex Morning Report Jan 5
- US ISM Data Due at 10AM
- USDJPY moves toward key 100 day MA
- Bobbys Corner-Open Market-Jan.5.2011
- GBPUSD approached 100 hour MA at 1.5514
- Canada Raw Materials & Industrial Product Price Both Improve
- EURUSD testing 1.3180 support
- USDJPY breaks through 82.87
- EURUSD falls sharply on much better ADP
- US ADP Employment Change Shows Drastic Improvement
- The NY Opening Forex Commentary is available for viewing
- Challeger job cuts continues to improve
- Canada Industrial Product Price & Raw Materials Price Index Due at 8:30AM
ISM Non Manufacturing component pieces Posted: 05 Jan 2011 07:07 AM PST Composite Index 57.1 vs 55.0 last month Employment down is a bit of a surprise, but new orders are strong | ||||||||||||||||||||||||||||
ISM Non-Manufacturing Composite Data Better Posted: 05 Jan 2011 07:02 AM PST | ||||||||||||||||||||||||||||
Posted: 05 Jan 2011 06:45 AM PST Forex Morning Report Jan 5 | ||||||||||||||||||||||||||||
Posted: 05 Jan 2011 06:28 AM PST | ||||||||||||||||||||||||||||
USDJPY moves toward key 100 day MA Posted: 05 Jan 2011 05:51 AM PST The 83.13 level is shaping up as a key level for the USDJPY on its move to the upside today. It is the key 100 day MA and the 61.8% of the move down from the December high to the low. The high reached 83.06 but have seen some profit taking selling. ON the downside if the 82.87 area can contain the correction (the BOJ intervention level), the market should be encouraged and look to make a test of the key level (and perhaps a break). Longer term for the USDJPY, the high for December at 84.51 (realy 84.40-51) is a target for the pair as is the even longer term 85.87 level. This is the 38.2% of the move down from the April 2010 high to the low. | ||||||||||||||||||||||||||||
Bobbys Corner-Open Market-Jan.5.2011 Posted: 05 Jan 2011 05:44 AM PST
This morning’s ADP Payroll data showed an increase of 297k jobs in December 2010. The estimate was for an increase of 100k. This was great news for the US economy and the greenback. The USD continued to rally on this data. The USD was strong against the Euro in the overnight session, as the single currency came under pressure as the sovereign debt problems within the region continue to make headlines. Asian equity markets were mixed, and European markets are lower. US Futres are lower at this time. Oil:$88.76 Gold:$1374.40
HAVE A GREAT DAY & GOOD LUCK | ||||||||||||||||||||||||||||
GBPUSD approached 100 hour MA at 1.5514 Posted: 05 Jan 2011 05:43 AM PST
On the topside watch to see if the 1.5326-34 level contain corrections. | ||||||||||||||||||||||||||||
Canada Raw Materials & Industrial Product Price Both Improve Posted: 05 Jan 2011 05:40 AM PST Raw Materials Price Index: Survey: 2.0% Actual: 3.5% Prior: 1.7% Revised: 2.3% Importance & Nov Data Industrial Product Price(MoM): Survey: 0.3% Actual: 0.5% Prior: 0.5% | ||||||||||||||||||||||||||||
Posted: 05 Jan 2011 05:34 AM PST
The price dipped below for a brief moment on the initial move lower. Another break below should solicit more selling with the target off the daily chart pointin to 1.3079 where the 200 day MA and 50% retracement is found. | ||||||||||||||||||||||||||||
Posted: 05 Jan 2011 05:30 AM PST Level was the key technical level where the BOJ intervened at on September 15th 2010. Now becomes support for the USDJPY. The next target to get through is 83.14 - the 61.8% of the move down from the Dec 15th high | ||||||||||||||||||||||||||||
EURUSD falls sharply on much better ADP Posted: 05 Jan 2011 05:26 AM PST | ||||||||||||||||||||||||||||
US ADP Employment Change Shows Drastic Improvement Posted: 05 Jan 2011 05:21 AM PST | ||||||||||||||||||||||||||||
The NY Opening Forex Commentary is available for viewing Posted: 05 Jan 2011 05:01 AM PST In the Opening Report I take a look at the EURUSD (still pressured), GBPUSD (mixed - non trending), USDJPY (back above MA resistance and looking to take out 82.28, USDCHF (Breaking above trendline), EURJPY (Finding support at 61.8%) and USDCAD (bounced off 100 hour MA and supported from below). See the key levels and the defined risk and why. | ||||||||||||||||||||||||||||
Challeger job cuts continues to improve Posted: 05 Jan 2011 04:33 AM PST The YoY change in December came in at -29% from a year ago with a total of 32,004 announced cuts for the month. This is down from 48,711 last month. This is the lowest Job cut announcement since June 2000. | ||||||||||||||||||||||||||||
Canada Industrial Product Price & Raw Materials Price Index Due at 8:30AM Posted: 05 Jan 2011 04:31 AM PST |
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