Forex Market Updates & Commentary

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• Dallas Fed Index Rises
• Pending Home Sales Data Falls, Milwaukee Data Rises
• Chicago Purchasing Manager Higher than Forecast
• Bobbys Corner-Open Market-Feb.28.2011
• US Personal Income Rises, Spending Slightly Lower & PCE Core Stays the Same
• Income up, Spending not as good
• Canada GDP Data Better & Current Account Lower
• The NY Opening Forex Commentary is available for viewing
• US Personal Income & Spending, Along with Core PCE Index Data due at 8:30AM
• Canada Current Account & GDP Data due at 8:30AM
• Feds Bullard says economy is in good shape
• Eurozone CPI
• 2-28 Economic Calendar
• Japanese prelim ind production worse at 2.4%, retail sales better 0.1%

Dallas Fed Index Rises Posted: 28 Feb 2011 07:34 AM PST Dallas Fed Manufacturing Index comes in at 17.5 vs a prior of 10.9.

Pending Home Sales Data Falls, Milwaukee Data Rises Posted: 28 Feb 2011 07:01 AM PST NAPM-Milwaukee:     Survey: 59.9     Actual:  63.0      Prior: 57.0 Pending Home Sales (MoM):    Survey:  -2.3%    Actual: -2.8%      Prior:  2.0%     Pending Home Sales (YoY):      Actual: -4.4%     Prior:  -3.6%

Chicago Purchasing Manager Higher than Forecast Posted: 28 Feb 2011 06:48 AM PST

Bobbys Corner-Open Market-Feb.28.2011 Posted: 28 Feb 2011 05:57 AM PST Good Morning: The USD dropped to the lowest level since November 2010-as speculation that the Fed will continue to maintain it’s economic stimulus program weighed heavily on the dollar. The Euro moved higher-as markets participants anticipate that the ECB may signal that they are looking to increase interest rates. Higher than anticipated inflation in the EU is prompting the ECB to look at increasing borrowing costs in the region. If this is the case-than the interest rate differential will widen-which will be negative for the greenback. The Asian equity markets were mixed, European markets are higher-and US Futures are also higher at this time. Oil:$97.75                                                                     Gold:$1412.50 TIME FOR EST PRIOR 08:30AM PERSONAL INCOME  JAN O.4%  O.4% 08:30AM PERSONAL SPENDING  JAN  O.4%   O.7% 08:30AM PCE DEFLATOR (YoY)       JAN 1.30% 1.20% 08:30AM PCE CORE (MoM)  JAN  O.1%   O.O% 08:30AM PCE CORE (YoY) JAN  O.8%   O.7% 09:45AM CHICAGO PURCHASING MANAGER  FEB  67.5O   68.8O 10:00AM NAPM-MILWAUKEE  FEB  6O.O       57.O 10:00AM PENDING HOME SALES MoM  JAN -2.40%    2.O% 10:00AM PENDING HOME SALESYOY  JAN     ——-   -3.6O% 10:30AM DALLAS FED MANUFACT  FEB     12.6O      1O.9O HAVE A GREAT DAY & GOOD LUCK

US Personal Income Rises, Spending Slightly Lower & PCE Core Stays the Same Posted: 28 Feb 2011 05:38 AM PST Personal Income:           Survey: 0.4%         Actual:  1.0%     Prior: 0.4%         Qtr IV vs  Qtr III Personal Income:  3.9% vs 2.5% Compensation:  3.3% vs 3.4% Wage & Salary:  3.4% vs 3.5% Disposable Inc:  3.3% vs 1.7% Personal Income: 4.4% vs -5.1% Personal Spending:        Survey: 0.4%         Actual: 0.2%         Prior: 0.7%       Revised: 0.5% PCE Deflator:    Survey: 1.3%         Actual:  1.2%         Prior: 1.2%         PCE Core(MoM):     Survey: 0.1%         Actual:  0.1%         Prior: 0.0%       PCE Core(YoY):    Survey:  0.8%         Actual:  0.8%         Prior:  0.7

Income up, Spending not as good Posted: 28 Feb 2011 05:34 AM PST Canada GDP MoM rises by 0.5% vs 0.3% expected With Income up by a robust 1.0% and Spending up by a less than expected 0.2% (vs 0.4%), the savings rate rose by 5.8% from 5.4%. This is the highest level since August 2010.

Canada GDP Data Better & Current Account Lower Posted: 28 Feb 2011 05:33 AM PST Gross Domestic Product (MoM):    Survey:  0.3%         Actual: 0.5%        Prior:  0.4%    Gross Domestic Product (YoY):    Survey:  2.8%         Actual: 3.2%        Prior:  3.0%       Revised: 3.2% Quarterly GDP Annualized:     Survey:  3.0%         Actual: 3.3%        Prior:  1.0%     Revised: 1.8%

The NY Opening Forex Commentary is available for viewing Posted: 28 Feb 2011 05:04 AM PST

US Personal Income & Spending, Along with Core PCE Index Data due at 8:30AM Posted: 28 Feb 2011 04:39 AM PST

Canada Current Account & GDP Data due at 8:30AM Posted: 28 Feb 2011 04:34 AM PST

Feds Bullard says economy is in good shape Posted: 28 Feb 2011 04:09 AM PST The only wild card is the Middle East. QE can be used as a policy tool if needed because the economy slows because of the rise in oil prices. Fed is determined to get back to normal.

Eurozone CPI Posted: 28 Feb 2011 02:05 AM PST Eurozone CPI y/y came in at 2.3%, weaker than the 2.4% expected. Core CPI y/y came in at 1.1%, weaker than the 1.2% expected. Eur/Usd mad enew highs going into this data and currently trades just off the highs at 1.3823.

2-28 Economic Calendar Posted: 27 Feb 2011 09:16 PM PST

Japanese prelim ind production worse at 2.4%, retail sales better 0.1% Posted: 27 Feb 2011 03:52 PM PST

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