Forex Market Updates & Commentary

Week Ahead in Trading Rebroadcast
Bobbys Corner-Open Market-April.4.2011
The NY Opening Forex Commentary for April 4th
Eurozone PPI for February
USD/CAD testing channel support
Euro-zone PPI in less than 10 minutes….
Eurozone Sentix Investor Confidence
U.K. construction PMI slightly better at 56.4; sterling makes slight gains on the release.
Today’s first bit of data out at 4:30
Former Japanese currency official Sakakibara sees weaker yen in coming months
4-4 Economic Calender

Posted: 04 Apr 2011 06:25 AM PDT

Week Ahead in Trading with Bill Lawless and Greg Michalowski - Watch the Rebroadcast now (video pending)

Bobbys Corner-Open Market-April.4.2011

Posted: 04 Apr 2011 05:28 AM PDT

Good Morning:

A fairly lackluster start to the week-with no real changes in the majors, and crosses showing very little real net change.
Friday’s good US employment data may begin to prompt the FED to remove some of the “accommodating bias” rhetoric in their statements-but if we see a better employment data, along with true growth-the FOMC will need to begin to change it’s course of monetary action sooner than later.

With the Japanese economy paralyzed from man made and natural disasters, the Japanese government will have no choice but to continue it’s ultra accommodating monetary policy for the foreseeable future.

Commodities rose across the board, as signs that economic growth is gaining traction.
Equity markets are also stronger-as some $20 billion in new corporate takeover activity helps keep these markets firm for the time being.

With no major economic events on today’s calender-and the start of the FOMC meeting tomorrow-we do not expect any earth shattering comments from US officials today.

Oil:$108.35 Gold:$1438.30

No Major Data Today

HAVE A GREAT DAY & GOOD LUCK

The NY Opening Forex Commentary for April 4th

Posted: 04 Apr 2011 05:26 AM PDT

The Week Ahead with Greg Michalowski and Bill Lawless at 9:30 AM. To register go to:

https://www1.gotomeeting.com/register/973157065

Eurozone PPI for February

Posted: 04 Apr 2011 02:02 AM PDT

Eurozone PPI m/m came in at 0.8%, stronger than the 0.9% expected. The prior month’s reading of 1.5% was revised down to 1.3%.

Eur/Usd is trading at 1.4198, a new session low.

USD/CAD testing channel support

Posted: 04 Apr 2011 01:59 AM PDT

4-4-daily

Since testing resistance on March 16th and 17th, the USD/CAD pair has traded continually lower and is now testing support at .96148 after closing below the 0.0% line at .96663. A close below this support line could be a bearish signal for further selling to occur. In the case of a turn-a-round, the first target back to the upside is .96663.

Euro-zone PPI in less than 10 minutes….

Posted: 04 Apr 2011 01:51 AM PDT

4-4-eur-ppi

Eurozone Sentix Investor Confidence

Posted: 04 Apr 2011 01:37 AM PDT

Sentix Investor Confidence came in at 14.2, weaker than the 16.1 expected and prior reading of 17.1, According to the Sentix Institute the decline in confidence is due in part to surging oil prices, which boosted inflationand prompted the ECB to signal an interest rate increase.

Eur/Usd holds steady at 1.4220.

U.K. construction PMI slightly better at 56.4; sterling makes slight gains on the release.

Posted: 04 Apr 2011 01:32 AM PDT

Additionally, housing equity withdrawals were worse: -7.0B

Today’s first bit of data out at 4:30

Posted: 04 Apr 2011 01:19 AM PDT

4-4-uk-construction-pmi