Forex Market Updates & Commentary | ![]() |
- USDCHF moves to new 2011 highs
- EURUSD misbehaving. Regrouping
- The NY Morning Forex Commentary for January 10th is available
- Bobbys Corner-Open Market-Jan.10.2011
- EURUSD tries the upside
- Canada Building Permits
- EURO Auctions will be a focus this week
- The NY Opening Forex Commentary is available for viewing
- ECB’s President Trichet On the Wires
- Canada Building Permits Due at 8:30AM
- Eurozone Sentix Investor Confidence
- Swiss Retail Sales
- UK Halifax House Price Index
- French Industrial Production
- 1-10 Economic Calendar
USDCHF moves to new 2011 highs Posted: 10 Jan 2011 07:16 AM PST |
EURUSD misbehaving. Regrouping Posted: 10 Jan 2011 06:57 AM PST Do I have any confidence today? I can not say it I do. Here is how we stand:
The non trending nature of the action today says that the market is unsure of the bias. Trading against the extremes seems logical. However, a break - and it might take a move at the 11:00 AM London fix - should solicit action. For traders who have a bias - i.e. are more bullish or bearish, use the 1.2904 level as a low risk borderline should still yield some clues. Admittedly, it is one of those Monday’s which can be frustrating for some (i.e., me) or great for others (sellers against the highs/buyers against the low). In other news, oil is up a $1.00 and DJIA is down 80 points. Gold tested 100 hour MA and fell. Lower Gold has been bullish for the dollar of late but not sure it has signficance today. |
The NY Morning Forex Commentary for January 10th is available Posted: 10 Jan 2011 06:36 AM PST No US economic data today. Canada Building Permit data much weaker. The EURUSD remains contained in narrow trading range. |
Bobbys Corner-Open Market-Jan.10.2011 Posted: 10 Jan 2011 06:35 AM PST
The USD strengthened for the first day of the trading week. This week we have data on US Retail Sales-and the markets are expected an increase. Retail Sales have increased for the past 6 months, which is a positive sign for the US economy. Asian equity markets were mixed, European markets are lower-and US Futures are also lower at this point. Oil:$89.30 Gold:$1372.40 NO MAJOR DATA DUE OUT TODAY HAVE A GREAT DAY & GOOD LUCK |
Posted: 10 Jan 2011 06:10 AM PST The EURUSD remains contained but now supported after the triple bottom at the 1.2873 area. The 100 and 200 bar MA on the 5 minute chart are converged at the 1.2904 level and should provide support. The high for the day at the 1.2938 level now becomes the next target to get through. The 65 pip low to high range is simply too narrow for today. I am looking for an extension of the range. Staying above the 1.2904 level keeps the bulls in charge. Above the 1.2948 targets 1.2960. |
Posted: 10 Jan 2011 05:32 AM PST Building Permits(MoM)- Survey: 1.5% Actual: -11.2% Prior: -6.5% Revised: -6.2% Nov.2010 vs. Nov(MoM) vs. Nov(YoY) For the MoM, both Non Residential and Residential both fell with Non residential permits falling by -16.1% adn Residental falling by -7.2%. The USDCAD has had a ho-hum reaction to the data, but remains above the 100 and 200 hour MA at the 0.9960 and 0.9965 levels respectively. A move above the 0.9976 level is needed to help the upward bias for the pair (target would be 1.0010). |
EURO Auctions will be a focus this week Posted: 10 Jan 2011 05:30 AM PST Tuesday: Greece - 1.5 billion Euro of 26 week treasury bills Netherlands and Germany will also issue bonds this week. Germany will issue 6 billion Feb 2016 notes on Wednesday along with 1 billion April 2020 inflation linked bonds. Netherlands will issue up to 3.5 billion January 2014 DSL on Tuesday. Yields on Portugal debt is down 16 basis points from last week, while Spains yields are up a 9 basis points. Spain faces bond redemptions of 15.5billion euro in April. |
The NY Opening Forex Commentary is available for viewing Posted: 10 Jan 2011 05:06 AM PST
For a video look at the key technical levels, click on the video link |
ECB’s President Trichet On the Wires Posted: 10 Jan 2011 04:56 AM PST Says:
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Canada Building Permits Due at 8:30AM Posted: 10 Jan 2011 04:23 AM PST |
Eurozone Sentix Investor Confidence Posted: 10 Jan 2011 01:37 AM PST EZ Sentix Investor Confidence came in at 10.6, weaker than the 11.9 expected. Eur/Usd has not felt an effect regarding this data. The pair currently trades at 1.2912. |
Posted: 10 Jan 2011 12:17 AM PST Swiss Retail Sales y/y came in at 2.5%, stronger than the 2.2% expected. Usd/Chf is trading at session lows (.9635) as this number should strengthen the CHF currency. |
Posted: 10 Jan 2011 12:02 AM PST Halifax HPI dropped 1.3% versus last month. A 0.3% decline was expected. This is a weak number for the GBP. Gbp/Usd has lost about 10 points since release, trading at 1.5337. |
Posted: 09 Jan 2011 11:47 PM PST French Industrial Production rose 2.3% versus a month ago. A 1.1% increase was expected. A postitive signal for the euro which is staring to rebound from a recent sell off. Eur/Usd currently trades at 1.2890. |
Posted: 09 Jan 2011 09:35 PM PST |
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