Forex Market Updates & Commentary

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• US Factory Orders
• Chicago Purchasing Manager Come in Stronger than Expected
• Today’s Midmorning Call and the Webinar schedule for today
• US Factory Orders & NAPM-Milwaukee Due at 10AM
• GBPUSD moves below trendline support/61.8% retracement
• Chicago PMI Data Due at 9:45AM
• EURUSD breaks through intraday support
• EURUSD moves to test intraday support
• US Jobless Claims Rise Slightly
• Canada GDP for January comes in as expected at 0.5% MoM
• The NY Morning Call for March 31st 2011
• Canada GDP Due at 8:30AM
• FXStreet Webinar at 11:00 AM Today
• US Jobless Claims & Continuing Claims Data due at 8:30AM
• Sterling lower

US Factory Orders Posted: 31 Mar 2011 07:05 AM PDT Factory Orders:  Survey: 0.5%  Actual: -0.1%  Prior: 3.1%  Revised: 3.3% Durable Goods was revised to -0.6 from -0.9. Ex Transporations was revised to -0.3%  from -0.6%. This piece of the total Factory Order number is showing improvement for the US.   Most people don't know but Durable Goods is a part of Factory Orders and is often revised when the Factory orders data is released.  Non Durables came in at +0.3% vs a sharp 3% gain last month. Factory Orders slide down as the Durable Goods revision rebounded to the upside.   NAPM-Milwaukee:    Actual: 66.0     Prior: 63.0 Mar vs. Feb Prices Paid: 71 vs 73 New Orders: 68 vs 73 Production: 69 vs 65 Backlog: 50 vs 64 Lead Times: 26 vs 28 Inventory: 57 vs 58 Capital Equiptment: 64 vs 65 White Collar Employment: 61 vs 59 Blue Collar Employment: 64 vs 58

Chicago Purchasing Manager Come in Stronger than Expected Posted: 31 Mar 2011 06:48 AM PDT Chicago Purchasing Manager:   Survey: 69.9   Actual: 70.6  Prior: 71.2   Revision: Mar vs. Feb Business Barometer: 70.6 vs 71.2 Prices Paid: 83.4 vs 81.2 Production: 74.2 vs 78.2 New Orders: 74.5 vs 75.9 Order Backlogs: 69.6 vs 61.8 Inventories: 60.5 vs 60.2 Employment: 65.6 vs 59.8 Supplier Deliveries: 62.7 vs 64.1 Chicago purchasing manager employment index is at its highest level since December 1983.

Today’s Midmorning Call and the Webinar schedule for today Posted: 31 Mar 2011 06:46 AM PDT

US Factory Orders & NAPM-Milwaukee Due at 10AM Posted: 31 Mar 2011 06:11 AM PDT   NAPM-Milwaukee:    Actual:     Prior: 63.0

GBPUSD moves below trendline support/61.8% retracement Posted: 31 Mar 2011 05:58 AM PDT The GBPUSD has moved below the upward sloping trendline at the 1.6058 level and is testing the 50% correction level now at 1.60457.  The 100 hour MA (blue line in the chart below) is now the next key target. Yesterday the price spent time above and below this key MA level using it as support and resistance on a number of hourly bars.  I would expect to find buyers against the level on the first test, but sellers against the underside of the trendline now….The 61.8% retracement is also in the area at the 1.6021 level.

Chicago PMI Data Due at 9:45AM Posted: 31 Mar 2011 05:55 AM PDT

EURUSD breaks through intraday support Posted: 31 Mar 2011 05:51 AM PDT The 38.2% and 100 bar MA at the 1.4187 and scooted lower to 1.4173.  Is there enough bearish momentum to keep the EURUSD down?  Watch for 1.4192 to contain the top.  If not, it is likely to just be stops being triggered.  The 1.4160 level is the next target on the downside where the 200 bar MA and the 61.8% of the days range comes in. You have to take baby steps when trading against the trend.

EURUSD moves to test intraday support Posted: 31 Mar 2011 05:45 AM PDT The EURUSD is down after the US Initial Claims data. The claims were a touch higher than expectations but not a shocking number.  The pair looks to test the 100 bar MA on the 5 minute chart and the 38.2% of the days trading range.  The level should give clues as to the strength of the rally today.  If it holds the momentum should continue. If not look for a rotation back down. The EURUSD is up on the back of higher CPI Flash Estimate of 2.6%.  The higher inflation should keep the EURUSD supported on the back of higher rates in the Eurozone.  The ECB is expected to raise rates by 0.25% at next weeks interest rate meeting.  If inflation continues to accelerate, the central bank may be inclined to either have a series of rate increases or even shock the market with 50 basis points.

US Jobless Claims Rise Slightly Posted: 31 Mar 2011 05:34 AM PDT

Canada GDP for January comes in as expected at 0.5% MoM Posted: 31 Mar 2011 05:32 AM PDT Canada GDP for January comes in at 0.5% vs 0.5% in December. This is what the market was expecting.   The YoY measure however rose to 3.3% from a revised 3.3% prior (was 3.2%). The YoY is better than expectations. The USDCAD has moved lower on the news staying below the 100 bar MA on the 5 minute chart. This moving average will be eyed as resistance in todays trading. A move above the level should lead to higher prices in the USDCAD.  The low for March (lowest level since 2007) comes in at 0.9666. This is the next key target level on the downside.  The CAD has been supported (lower USDCAD) on the back of higher oil prices with the idea that global growth will not be hurt too much from the increase.

The NY Morning Call for March 31st 2011 Posted: 31 Mar 2011 05:11 AM PDT

Canada GDP Due at 8:30AM Posted: 31 Mar 2011 04:47 AM PDT

FXStreet Webinar at 11:00 AM Today Posted: 31 Mar 2011 04:44 AM PDT I will be speaking about using Fibonacci’s to get back on trends at an 11 AM ET webinar. To participate please go to the following site: CLICK HERE TO REGISTER

US Jobless Claims & Continuing Claims Data due at 8:30AM Posted: 31 Mar 2011 04:22 AM PDT

Sterling lower Posted: 31 Mar 2011 03:28 AM PDT After completing an hourly retracement on the move from last Friday’s high to its low and testing the 200 hour moving average twice, the GBP/USD has seen recent selling which continued following negative comments on the U.K. housing market by the BOE’s Miles. The pair has already made moves down through 1.60619; a support level from last Thursday. Continued selling could see the pair back near 1.60619-65 where we see both the 61.8% fibo line and trendline support .

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Forex Market Updates & Commentary

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• The FXDD Mid Morning NY Forex Call for March 30th
• EURUSD moves lower in choppy trading. Eyes key support.
• IMF hikes Eurozone GDP to 1.6% from 1.5%
• AUDUSD consolidating at the highs
• The NY Morning Call for March 30th 2011
• Canada RMPI & IPPI Stronger than Prior
• Bobbys Corner-Open Market-March.30.2011
• ADP Employment Change Slightly Lower than Forecast
• Webinar Lesson 12: “Using Multiple Time Frames in your Forex Trading”
• Canada Industrial Product Price & Raw Materials Data Due at 8:30AM
• Fitch says Portugal rating to fall in the short term
• US ADP Employment Change Data Due at 8:15AM
• Challenger Job survey comes out down -39% from a year ago
• UK CBI Retail sales index for March came in at 15, stronger than 6 in February
• Swiss KOF Economic Barometer

The FXDD Mid Morning NY Forex Call for March 30th Posted: 30 Mar 2011 07:21 AM PDT Video Pending

EURUSD moves lower in choppy trading. Eyes key support. Posted: 30 Mar 2011 06:54 AM PDT The EURUSD  is down on the day and below the midpoint of the weeks trading range at 1.4084and 100 bar MA on the 5 minute chart at 1.4085. This is as good a level to gauge bullish or bearish momentum today along with the 200 bar MA at the 1.4092 level (green line in the chart above).  The double bottom at the 1.4058 level will be the next key level to get through today for obvious reasons.  Not only is the level important on the 5 minute chart, but looking at the hourly chart the level corresponds with the 50% retracement of the move up from the March 17th low to the high reached on March 22nd.  The importance has increased with the double bottom today. The fact it sticks out like it does and because the market seems to be choppy/volatile today, there is no reason to not think that the level will find buyers against the level. What bears are hoping however, is that the level is broken and further momentum selling ensues. Looking at the topside on the hourly chart, the NY sessions ability to stay below the 100 hour MA (blue line in the chart below), gives the nod to the downside. The question is “Will the market have the momentum and sellers to probe further or is the employment report down the road going to be dictate the next trend?”

IMF hikes Eurozone GDP to 1.6% from 1.5% Posted: 30 Mar 2011 06:35 AM PDT 2012 to 1.8% from 1.7%. Meanwhile roundtable of CEOs in the US see 2.9% vs 2.5% in 2011. US Growth was cut to 2.8% from 3.0%.  The report is apparently leaked.  Admittedly, they are different surveys but it makes you wonder why the EURUSD is more near the high than the low?  Even with the decline in the IMF estimate, growth is a full 1.2% percentage points above Eurozone.

AUDUSD consolidating at the highs Posted: 30 Mar 2011 06:08 AM PDT The AUDUSD had a narrow trading range at the top of the range. The pair continues to benefit from a global growth story scenario. Global growth increases, the AUDUSD should benefit. If there are signs of faltering - and the US employment report on Friday will be key - then the pair will likely correct. From a technical perspective, the price bumped against the underside of a channel trendline on the hourly chart. That level came in at 1.0336. The high for the day came in at 1.0331. Traders had a low risk trading opportunity against the trendline level (sell) . Keep an eye on this trendline for clues on any rallies. A move above will likely lead to more momentum to the upside. The 5 minute chart is also giving traders some clues today. A trendline off the lows today have lined up nicely and provide a nice borderline to use for trade entry today. Should the trendline give way, there should be further pressure. If it holds, look for continued upside momentum. On the downside, the 100 hour moving average at 1.0250 remains a key target on any downside momentum. The moving average was tested during yesterdays trading (see blue line in the hourly chart at the top of the page) but buyers were happy to buy at that level.  On the topside, the high for the day at 1.0332 and the underside of the trendline on the hourly chart currently at the 1.0356 level are target levels. The AUDUSD was last at these level in 1982.

The NY Morning Call for March 30th 2011 Posted: 30 Mar 2011 05:39 AM PDT ****NOTE. The audio is lost midway through. UGH. Doing another report which will be up shortly. 10:08 ET

Canada RMPI & IPPI Stronger than Prior Posted: 30 Mar 2011 05:33 AM PDT

Bobbys Corner-Open Market-March.30.2011 Posted: 30 Mar 2011 05:23 AM PDT Good Morning: The Aussie jumped to the highest level against the USD since 1983, when it was freely floated.  With global growth on the upswing-the demand for commodities is also growing.  As the Aussie economy is commodity based, it only makes sense that the Aussie, along with other commodity currencies will benefit from any increase in commodity demand.  Australia and New Zealand have benchmark interest rates of 4.75% and 2.5% respectively, which is attracting investors to these South Pacific nations higher-yielding assets.  The USD was stronger versus the JPY, as speculation that the Fed will consider scaling back on their QE2 government debt purchase program. The CHF lost some ground-as investors feel positive regarding an global economic recovery-which takes away the demand for “safe haven” of the currency.  Worldwide equity markets advanced-and US Futures are higher too. Oil: $104.35                                                 Gold:$1423.10 TIME FOR EST. PRIOR 7:00A.M. MBA MORTGAGE APPLICATIONS  25-Mar 2.70% 7:30A.M. CHALLENGER JOB CUTS YoY MAR. 20.00% 8:15A.M. ADP EMPLOYMENT CHANGE       MAR.       205K 217K HAVE A GREAT DAY & GOOD LUCK

ADP Employment Change Slightly Lower than Forecast Posted: 30 Mar 2011 05:18 AM PDT ADP Employment Change:  Survey: 208K    Actual: 201K    Prior: 217K    Revised: 208K Mar vs. Feb Small Firms(1-49):  49,022 vs 48,920 Level Change:  102 vs 96 Medium Firms(50-499):  41,817 vs 41,735  Level Change:  82 vs 101 Large Firms:(>499):  17,453 vs 17,436 Level Change:  17 vs 11

Webinar Lesson 12: “Using Multiple Time Frames in your Forex Trading” Posted: 30 Mar 2011 05:02 AM PDT Lesson 12 will take place on Thursday at 4 PM ET. The topic will be ” Using Multiple Time Frames in your Forex Trading” . It isn’t enough to focus on just the 5 minute chart if trading intraday or the daily chart if trading longer term.  I will show you how watching multiple time frames - one short term, one medium term and one longer term - will be able to improve your trade entry, while defining your risk and keeping your risk to a minimum.    You do need to REGISTER BY CLICKING HERE.  See you on Thursday at 4 PM.  PS. Tell your trading friends on your social media page.

Canada Industrial Product Price & Raw Materials Data Due at 8:30AM Posted: 30 Mar 2011 04:52 AM PDT

Fitch says Portugal rating to fall in the short term Posted: 30 Mar 2011 04:52 AM PDT The Portugal yields continue to rise on the back of downgrades.  The Yield on 5 year notes has risen from 7.41% to 9.04% in the last month (see blue line in the chart below).  As interest rates increase, lowering the deficit becomes more and more difficult.

US ADP Employment Change Data Due at 8:15AM Posted: 30 Mar 2011 04:43 AM PDT

Challenger Job survey comes out down -39% from a year ago Posted: 30 Mar 2011 04:41 AM PDT This indicator is a measure of US hiring announcements. In March the total announcements were for 10,869 jobs.  As a comparison, in February 72,581 job announcements were made.  The series has been quite volatile of late with Oct 2010 showing 124k, November 26k, December 11K, January 2011 29K, February 72K and finally this month at 10.869K. At 8:15 AM the more important ADP employment report will be released with the expectations of 208k Private sector jobs anticipated.  Last month the 217k jobs were added.  The value is intended to mirror the private sector employment component of the US jobs data to be released on Friday.  Last month the two were very close with Private Payrols rising by 222k.

UK CBI Retail sales index for March came in at 15, stronger than 6 in February Posted: 30 Mar 2011 03:03 AM PDT The 15 reading also was stronger than the -1 expectation. Gbp/Usd has gained 25 points on heels of release, trading at 1.6080.

Swiss KOF Economic Barometer Posted: 30 Mar 2011 02:33 AM PDT KOF Economic Barometer came in at 2.24, stronger than the 2.18 expected and prior reading of 2.19. Eur/Chf and Usd/Chf unaffected by data as they continue to trade at 1.2988 and 92.22 respectively.

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Forex Market Updates & Commentary

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• GBPUSD squeezes higher
• S & P notes increased risk to Greeces Budgetary Position
• US Consumer Confidence Lower
• S&P Lowers Portugal Rating
• S&P lowers Portugal to BBB-
• US Consumer Confidence Due at 10AM
• USDJPY moves toward key 100 day MA
• House prices remain weak
• S&P CaseShiller Home Prices Fall
• German inflation rose by 2.2%
• The Forex Morning Call for March 29th
• Bobbys Corner-Open Market-March.29.2011
• ECB Makuch says rate increase in April NOT certain, but highly probable
• S&P CaseShiller Data Due at 9AM
• Fed’s Bullard: QE2 could be cut by 100 billion

GBPUSD squeezes higher Posted: 29 Mar 2011 07:33 AM PDT The EURUSD is not the only currency pair to squeeze back higher. The GBPUSD has also moved to the upside and tests the 50% of the days range and the converged 100 and 200 bar MA on the 5 minute chart. The level comes in at the 1.5992 (for the 50% ) and the 1.5996 level for the 100 and 200 bar MA.  These levels should solicit some selling pressure with 1.5974 -79 as downside support.  Should this level hold, the pair will likely squeeze higher. A move below this area makes the trading for the day more difficult as both bulls and bears would be frustrated.

S & P notes increased risk to Greeces Budgetary Position Posted: 29 Mar 2011 07:05 AM PDT Despite the negative from S&P, the EURUSD has risen and is above the 38.2% of the days trading range at the 1.4085. Just above that level is the 200 bar MA on the 5  minute chart at 1.4091. This would be another level for the bears to sell against. A move above would not be welcomed.

US Consumer Confidence Lower Posted: 29 Mar 2011 07:01 AM PDT

S&P Lowers Portugal Rating Posted: 29 Mar 2011 06:36 AM PDT S&P lowers Portugal to BBB- for BBB, A-3 at S&P , Outlook negative.

S&P lowers Portugal to BBB- Posted: 29 Mar 2011 06:36 AM PDT The rating was BBB.   S& P also removed  Portugal from negative credit watch. The Portuguese bond yields have increased to 8.74% from 8.49% last week and 7.68% at the end of the March 18th week. The downgrade from S&P was somewhat expected given S&P downgrade of Portuguese banks including the Portuguese division of Banco Santander and Banco Espirito Santo.

US Consumer Confidence Due at 10AM Posted: 29 Mar 2011 06:25 AM PDT

USDJPY moves toward key 100 day MA Posted: 29 Mar 2011 06:24 AM PDT The 100 day MA comes in at 82.60 in the USDJPY. This level should find profit taking sellers with stops on a move above the key level. The price in the USDJPY has been below the level since March 11th, the day of the earthquake and tsunami. Taking a look at the hourly chart for the pair, the price formed a bull flag for the pair and targets the 82.50 for the move. This too should give profit taking sellers another reason to take some gains in their trading.

House prices remain weak Posted: 29 Mar 2011 06:06 AM PDT The Case Schiller confirm numbers in the existing home sales data and the new home sales data that was released last week. That is, home prices are continuing to fall. If you recall New Home sales median price fell to $202k from $234K. Exisiting home sales median price fell to $156K from $158K. Foreclose homes keep on entering in the market and this keeps buyers in charge. This makes it difficult for conventional home sales to take place. Eighteen of twenty cities showed price declines. The largest YoY decline came in Phoenix with a 9.1% fall. Washington showed the largest YoY increase coming in at +3.6%. Should employment continue to rise, this may open the door for new buyers to come in and snap up low cost housing. However, with estimates of foreclosures rising by 20% in 2011 (RealtyTrac), the glut should continue and keep the price pressure on housing.

S&P CaseShiller Home Prices Fall Posted: 29 Mar 2011 06:02 AM PDT S&P/CaseShiller Home Price Ind:    Actual: 140.86     Prior: 142.42    Revised: 142.34 S&P/CS 20 City (MoM%) SA:    Survey: -0.44%     Actual:  -.22%     Prior: -0.41%     Revised:  -..39% S&P/CS Composite-20 (YOY):   Survey: -3.20%     Actual: -3.06%     Prior: -2.38%    Revised: -%

German inflation rose by 2.2% Posted: 29 Mar 2011 05:34 AM PDT The German inflation for YoY came in at 2.2% which was as expected. The Flash estimate for CPI for the EU comes out on the 31st and is expected to show an unchanged reading of 2.4%. ECBs Trichet seems intent on raising rates at the April 7th meeting. Today ECBs Makuch spoke out of both sides of his mouth when he said a rate rise was highly probable but not certain. The market is expecting a 25 basis point rise to 1.25%. This will be the first change in rates since May 2009 when the rate was lowered to 1% from 1.25%

The Forex Morning Call for March 29th Posted: 29 Mar 2011 05:24 AM PDT

Bobbys Corner-Open Market-March.29.2011 Posted: 29 Mar 2011 05:24 AM PDT Good Morning: Federal Reserve member Bullard stated overnight that the FOMC  may not be able or willing to wait out the global uncertainties before the US satrts normalising it’s monetary ploicy. The uncertainties that he is speaking about are: 1) Political unrest in Middle East and North Africa 2) Japanese crisis (earthquake and nuclear) 3) European sovereign debt problems 4) US deficit US monetary officials seems to be more hawkish lately, but before any decisions the policy makers better be certain that the US economic recovery is on a positive path, and that consumer sentiment is improving and not deteriorating.  With the price of gasoline rising daily (it sure seems like it), and rising global tensions on the political front-I think we may see  weak consumer sentiment datalater this morning. World equity markets traded lower-US Futures are higher at this time. Oil:$103.14                                             Gold:$1415.80 TIME FOR EST. PRIOR 9:00A.M. S&P/CASESHILLER HOME PRICE IND. JAN. 142.42′ 9:00A.M. S&P/CS 20 CITY MoM% SA JAN. -0.40% -0.41% 9:00A.M. S&P/CS COMPOSITE -20 YoY      JAN. -3.20% -2.38% 10:00A.M. CONSUMER CONFIDENCE MAR. 65.O 7O.4 HAVE A GOOD DAY & GOOD LUCK

ECB Makuch says rate increase in April NOT certain, but highly probable Posted: 29 Mar 2011 04:42 AM PDT Situation in Portugal is serious but complicated and does pose a risk of contagion Rate increase is highly probable but NOT certain ECB vigilant on inflation The comment is a bit ambiguous with “probable” but “not certain” used to describe the rate potential in April.  The ECB meets on April 7th and the expectation from surveyed results is for a tightening of 25 basis points. The EURUSD bounced off support at the 1.4059 and looks toward the channel trendline on the 5 minute chart. That level currently comes in at the 1.4077 level and coming down. A move above this level would next target the 1.4093 level where the 38.2% of the days range is found. Just above that is the 200 bar MA (1.4095 currently) on the 5 minute chart (see green line in the chart below). This is also resistance for the pair.  If the price can stay below the 38.2% of a steep move to the downside (or upside), it will often be a clue, the downside may still have some momentum.  Support remains at 1.4058, and below that the lows from Monday’s trade at the 1.4020-25 area.

S&P CaseShiller Data Due at 9AM Posted: 29 Mar 2011 04:23 AM PDT

Fed’s Bullard: QE2 could be cut by 100 billion Posted: 29 Mar 2011 04:20 AM PDT Policy would still be accomodative after cuts Time to turn around policy Pause would allow balance sheets to hold steady Could then let some items run off balance sheet Europe’d debt crisis would impance U.S. Bullard is speaking to reporters in Prague The dollar has gotten stronger on the news. The EURUSD has move down and the 61.8% of the move up from yesterday’s low being tested at 1.4069.  The 1.4058 level is another target.  It is the 38.2% of the move up from the low on March 11th to the high reached at on March 22nd.  A break of this level would open up further downside potential. On a break of 1.4058, the lows from yesterday will be the next targets. On the topside now, the price is in a down channel and has upside trendline resistance at the 1.4085 level currently. The 1.4093 level is the 38.2% retracement of the move down today. Intraday sellers of the EURUSD would not like to see the price break above this level today (see chart below).

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Forex Market Updates & Commentary

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• US Pending Home Sales Data Surges
• Bobys Corner-Open Market-March.28.2011
• Personal Spending Rises, PCE Data Same as Survey
• Personal Income, Spending & PCE Data Due at 8:30AM
• Sterling falls as BOE’s Sentance says rates need to be raised “sooner rather than later”.
• IFM says SNB should start raising rates over coming months
• S&P downgrades Portuguese banks with long term ratings still on watch
• Chinese central bank issues 1Q monetary policy report
• AUD appreciates to new all-time high of 1.03072 against the USD.
• Sterling lower in recent trade
• 3-28 Economic Calender

US Pending Home Sales Data Surges Posted: 28 Mar 2011 07:01 AM PDT

Bobys Corner-Open Market-March.28.2011 Posted: 28 Mar 2011 05:45 AM PDT Good Morning: We start the week with the USD a bit stronger-ahead of data on US Consumer Spending.  Comments by Fed official Bullard stated that the Fed “may consider scaling back on monetary stimulus”.  Consumer spending constitutes about 70 percent of the US economy-analysts are expecting  an increase of .5 to .6 percent.  (actual came in at .7%). The Swiss franc (CHF) has become the best performing major currency this year.  With the US Fed flooding the financial markets with USD, and the G7 working together through intervention to weaken the Yen-the CHF has also become the safe-haven currency of choice. Switzerland has the 19th largest economy in the world, and it is the sixth most traded currency according to the Bank for International Settlements. Asian equity markets traded lower, and European equity markets are higher-and US Futures are also higher. Oil:$104.01                                                 Gold:$1413.20  TIME FOR EST. PRIOR 8:30A.M. PCE CORE MoM FEB. 0.20% 0.10% 8:30A.M. PERSONAL SPENDING FEB. 0.60% 0.20% 8:30A.M. PCE CORE YoY      FEB. 0.90% 0.80% 8:30A.M. PCE DEFLATOR YoY FEB. 1.60% 1.20% 8:30A.M. PERSONAL INCOME FEB. 0.40% 1.00% 10:00A.M. PENDING HOME SLAES MoM FEB. 0.90% -2.80% 10:00A.M. PENDING HOME SLAES YoY FEB. -4.40% 10:30A.M. DALLAS FED MANF. ACTIVITY MAR.      16.8O 17.5O HAVE A GREAT DAY & GOOD LUCK

Personal Spending Rises, PCE Data Same as Survey Posted: 28 Mar 2011 05:33 AM PDT Personal Income:   Survey: 0.4%     Actual:  0.3% Prior: 1.0%      Revised: 1.2% Feb vs. Jan Personal Income:  0.3% vs 1.2% Compensation:  0.3% vs 0.4% Wage & Salary:  0.3% vs 0.3% Disposable Inc:  0.3% vs 0.8% Personal Spending:   Survey: 0.5%    Actual: 0.7% Prior: 0.2% PCE Core(MoM):     Survey: 0.2% Actual:  0.2% Prior: 0.1% PCE Core(YoY):    Survey:  0.9% Actual:  0.9% Prior:  0.8% PCE Deflator:    Survey: 1.6% Actual:  1.6% Prior: 1.2%

Personal Income, Spending & PCE Data Due at 8:30AM Posted: 28 Mar 2011 04:46 AM PDT

Sterling falls as BOE’s Sentance says rates need to be raised “sooner rather than later”. Posted: 28 Mar 2011 02:33 AM PDT

IFM says SNB should start raising rates over coming months Posted: 28 Mar 2011 02:30 AM PDT Swiss growth to remain broad based. SNB should start raising rates in near term. Swiss inflation expectations are well anchored. Current benchmark rate is “unsustainable” over the medium term. FX interventions should only counter ‘disorderly” moves. SNB should give priority to boosting capital. Should preserve “sound fiscal policy”.

S&P downgrades Portuguese banks with long term ratings still on watch Posted: 28 Mar 2011 02:03 AM PDT

Chinese central bank issues 1Q monetary policy report Posted: 28 Mar 2011 01:11 AM PDT To focus on stabilizing overall price levels. To maintain reasonable overall money supply. Will use multiple monetary policy tools. Emphasizes the need to stabilize overall price levels. Money supply and credit growth is moving in expected direction. Global economic recovery is not solid enough. Reiterates controls on lending to certain industries. Will increase credit support to targeted areas; reiterates controls on lending to certain industries. Reaffirms Yuan to be basically stable at a reasonable level.

AUD appreciates to new all-time high of 1.03072 against the USD. Posted: 28 Mar 2011 12:46 AM PDT

Sterling lower in recent trade Posted: 28 Mar 2011 12:26 AM PDT Sterling is trading lower as U.K. 10 years open little changed at 3.62% and Euro equity markets open lower. Seen below the GBP/USD had been knocking around between 1.5999 and 1.6024 during the new trading day until it made a stern move through the 1.5999 level. Currently the pair is trading around the 1.5976 level; old lows from mid-February. If selling continues, the next level downward we may want to use as a target is the 100 hour moving average which currently comes in at 1.59048.

3-28 Economic Calender Posted: 27 Mar 2011 08:39 PM PDT

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