Forex Market Updates & Commentary

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• University of Michigan Consumer Confidence Rises
• FXDD Week ahead in trading this Monday 9:30am
• GDP Data Comes Out Weaker than Expected
• GDP & Personal Consumption Data due at 8:30AM
• Swiss KOF Economic Barometer
• UK Q4 GDP
• Eurozone M3 Money Supply
• French Consumer Spending
• 2-25 Economic Calendar
• UK GfK Consumer Confidence -28; worse than expected.
• Tokyo CPI
• FXDD Traders Course Lesson 5 Feb 25 2011
• USDCHF making a new low
• The NY Midday Forex Commentary. Register for next webinar
• USDJPY tests trendline support and finds some profit takers

University of Michigan Consumer Confidence Rises Posted: 25 Feb 2011 07:05 AM PST February Michigan consumer sentiment grows 2% to 77.5 vs the predicted survey of 75.5. Feb Final vs. Feb Prelim vs Jan 2011 Consumer Confidence: 77.5 vs 75.1 vs 74.2 Economic Conditions: 86.9 vs 86.8 vs 81.8 Economic Outlook: 71.6 vs 67.6 vs 69.3

FXDD Week ahead in trading this Monday 9:30am Posted: 25 Feb 2011 06:58 AM PST FXDD Week ahead in trading this Monday, February 28th at 9:30am - Sign up to save your seat online

GDP Data Comes Out Weaker than Expected Posted: 25 Feb 2011 05:33 AM PST Annualized:      Survey: 3.3%          Actual: 2.8%            Prior:  3.2%          GDP Price Index:     Survey:  0.3%         Actual: 0.4%       Prior:  0.3%  Core PCE (QoQ):    Survey:  0.4%         Actual: 0.5%        Prior: 0.4%    Personal Consumption:     Survey: 4.2%          Actual: 4.1%           Prior:  4.4%

GDP & Personal Consumption Data due at 8:30AM Posted: 25 Feb 2011 05:27 AM PST

Swiss KOF Economic Barometer Posted: 25 Feb 2011 02:37 AM PST KOF Economic Barometer came in at 2.18, stronger than the 2.08 expected. Usd/Chf trades at .9290 and Eur/Chf at 1.2815, relatively unchanged.

UK Q4 GDP Posted: 25 Feb 2011 01:35 AM PST UK Q4 GDP fell -0.6%, a downward revision from prior -0.5% reading. Gbp/Usd felt affects of this number, losing 30 points to currently trade at 1.6115.

Eurozone M3 Money Supply Posted: 25 Feb 2011 01:09 AM PST Eurozone M3 Money Supply y/y came in at 1.5%, weaker than the 2.1% expected. Eur/Usd is just off session low (1.3794), currently trading at 1.3802.

French Consumer Spending Posted: 24 Feb 2011 11:47 PM PST French Consumer Spending m/m came in at -0.5%, stronger than the -0.7% expected. Eur/Usd continues to trade around 1.3820.

2-25 Economic Calendar Posted: 24 Feb 2011 08:47 PM PST

UK GfK Consumer Confidence -28; worse than expected. Posted: 24 Feb 2011 04:33 PM PST

Tokyo CPI Posted: 24 Feb 2011 04:31 PM PST The market had a limited reaction to Tokyo’s CPI which came in at -0.4%; worse than the -0.3% forecast and -0.2% prior reading.

FXDD Traders Course Lesson 5 Feb 25 2011 Posted: 24 Feb 2011 02:38 PM PST FXDD Traders Course Lesson 5 Feb 25 2011 - Watch now This posting includes an audio/video/photo media file: Download Now

USDCHF making a new low Posted: 24 Feb 2011 10:53 AM PST The USDCHF has just made a new low - moving through the low at 0.9239. The next major target is at 0.9190 where the bottom side trendline is found (see chart above).

The NY Midday Forex Commentary. Register for next webinar Posted: 24 Feb 2011 09:09 AM PST

USDJPY tests trendline support and finds some profit takers Posted: 24 Feb 2011 08:15 AM PST The USDJPY has moved sharply lower today and got within 9 pips of trendline support at the 81.55 level (see daily chart).  I would expect this level to continue to find profit taking buyers at least for the trading day today with a break being the risk.  On the hourly chart the last leg to the downside is steep (see chart below).  The price may have  reached a bottom against channel support, however. With the daily support and the support off this chart, there is reasons to lighten up at the levels. Of course, we know that trends are directional and fast, so any move below the levels would not be welcomed.  How will we know the bottom is in place and further upside is a possibility?  I think the first clue would be from the 5 minute chart where the 100 bar MA has been tested but not been able to sustain any momentum above the level (blue line in the chart below). The current MA comes in at the 81.81 level  A move above this level will be needed give the bulls any chance for a further move higher.  If it is taken out, the next target becomes the 200 bar MA at the 81.97 level (see same chart below) and ultimately a move above the 38.2% of the last move down at the 82.02. If these levels are taken out, the bulls should find some more upside momentum. If not, the bears remain firmly in charge.

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