Forex Market Updates & Commentary

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• USDCAD moves above teh 200 hour MA and Fibo resistance
• EURUSD back down testing the 100 day MA
• USDCHF remains bearish below 0.9604
• EURUSD corrects down. Look for support to be defended.
• EURUSD breaks through 100 day MA at 1.3423
• Forex Morning Report- Jan 18
• Gold at 100 and 200 hour MA. Looking for a move away
• Total Net Buying of LT US assets surge
• Bank of Canada keeps rates unchanged
• Bobbys Corner-Open Market-Jan.18.2011
• Bank of Canada decision. What are the key levels to watch
• EU pledges tougher stress tests
• US Empire State index up but weaker than expected
• UK inflation surges. Confidence in EU plan rises. Dollar falls. The NY Opening Forex Commentary is available for viewing
• Spains Salgado sees interest in Spain debt

USDCAD moves above teh 200 hour MA and Fibo resistance Posted: 18 Jan 2011 07:38 AM PST

EURUSD back down testing the 100 day MA Posted: 18 Jan 2011 07:35 AM PST The 100 day MA is at 1.3423. The Fibo support is at 1.3413. A break is indicative of lack of bullish support.

USDCHF remains bearish below 0.9604 Posted: 18 Jan 2011 07:28 AM PST The USDCHF broke below what has been solid support at the 0.9604 level and apart from one hourly bar has remained below the floor. The next targets include the 0.9541 and the 0.9484 level.

EURUSD corrects down. Look for support to be defended. Posted: 18 Jan 2011 06:53 AM PST Watch for buyers against support at the 1.3412-23 level.  If the break is for real with real support, this level should be defended.

EURUSD breaks through 100 day MA at 1.3423 Posted: 18 Jan 2011 06:38 AM PST Support now between 1.3412-23. The 1.3412 is the 38.2% on the daily chart. The 1.3423 is the 100 day MA. Next upside target is the 1.3498 level (high from December) and 1.3578

Forex Morning Report- Jan 18 Posted: 18 Jan 2011 06:30 AM PST Forex Morning Report- Jan 18

Gold at 100 and 200 hour MA. Looking for a move away Posted: 18 Jan 2011 06:17 AM PST The gold price has moved above the 100 and 200 hour MA (blue and green line) and is due for a move away from these key technical levels today. The price being above is bullish for the pair at the moment.

Total Net Buying of LT US assets surge Posted: 18 Jan 2011 06:09 AM PST The total net buying surged by $85.1 billion in November.  Treasury bond purchases rose sharply to 61.719 billion from 24.739 billion in October.

Bank of Canada keeps rates unchanged Posted: 18 Jan 2011 06:00 AM PST Sees faster global growth Further increases to be carefully considered Still considerable stimulus in market Strong C$ is hurting recovery GDP 2.4% in 2011 and 2.8% in 2012 (vs 2.3% and 2.6% previously) Sovereign debt  to curb EU growth To read the full statement click on the following link: http://www.bankofcanada.ca/en/fixed-dates/2011/rate_180111.html The USDCAD has moved above the 100 hour MA and approaches the 200 hour MA and 38.2% retracement target at the 0.9906-11 levels

Bobbys Corner-Open Market-Jan.18.2011 Posted: 18 Jan 2011 05:59 AM PST Good Morning: Risk took center stage in overnight trading after comments from Russian Deputy Prime Minister Zhukov that Russia may be interested in investing in Spanish debt.   Both Russia and China do not want to see the Euro lose it’s position as a potential reserve currency-so today’s comments show a clear sign that the troubled EU economies will most probably receive economic support from outside the region. The EUR/USD pair jumped over 1.3425-with better than expected ZEW reading from the EU and strong Spanish T-Bill auction.  GBP/USD takes out the 1.6050 level on good CPI data. Asian equity markets were nmixed and European equity markets  are higher. US Futures are also higher at this time. Oil:$91.25                                                                Gold:$1375.40 TIME  FOR EST. PRIOR 8:30A.M. EMPIRE MANUFACTURING JAN. 12.OO 1O.57 9:00A.M. TOTAL NET TIC FLOWS NOV. $7.5B 9:00A.M. NET LONG TERM TIC FLOWS      NOV. $27.6B 10:00A.M. NAHB HOUSING MARKET INDEX JAN. 17.O 16.O HAVE A GREAT DAY & GOOD LUCK

Bank of Canada decision. What are the key levels to watch Posted: 18 Jan 2011 05:50 AM PST

EU pledges tougher stress tests Posted: 18 Jan 2011 05:37 AM PST The test will take into consideration sovereign debt risk and liquidity. The tests are expected to start as soon as February.

US Empire State index up but weaker than expected Posted: 18 Jan 2011 05:31 AM PST Index comes in at 11.92 vs 12.50 expectations but up from a revised 9.89. The gain was helped by exports and business equipment demand. The components all showed good gains. New orders 12.4 vs 2.0 last month Shipments 25.4 vs 7.2 last month Employment 8.4 vs -3.4 last month

UK inflation surges. Confidence in EU plan rises. Dollar falls. The NY Opening Forex Commentary is available for viewing Posted: 18 Jan 2011 05:04 AM PST UK inflation surges. Confidence in EU plan rises. Dollar falls. The NY Opening Forex Commentary is available for viewing

Spains Salgado sees interest in Spain debt Posted: 18 Jan 2011 04:56 AM PST Elena Salgado, the finance minister in Spain, is on the newswires saying there is confidence in Spanish debt. Today, the country issued 5.5 billion euros of 364 day bills today and investor confidence as reflected by the rise in the EURO today, is saying that investors agree with the FInance ministers thoughts.

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