Forex Market Updates & Commentary |  |
- Weak data sends USDJPY back down
- US Home Sales, Leading Indicators, Philadelphia Fed Survey All Worse
- US Home Sales & Philadelphia Fed Survey Due at 10AM
- Feds Dudley says QE helpful in generating more employment growth
- The NY Opening Forex Commentary for May 19th 2011
- US Jobless Claims Fall
- Swiss Economy Minister Amman says strong franc is reason for concern
- US Jobless Claims Report Due at 8:30AM
- UK CBI was -2; slightly better than expected.
- UK CBI @ 6
- Swiss testing 38.2%
- Swiss ZEW -11.5 vs. the 8.8 prior reading
- Swiss Zew @ 5
- U.K retail sales came in at 1.1%, better than expected.
- Moody’s say NZ budget measure support Aaa rating
| Weak data sends USDJPY back down Posted: 19 May 2011 07:17 AM PDT
The weak Leading indicators and Philadelphia Fed index has sent the USDJPY back lower. From a technical basis, the price was already capped against the 100 day MA. The 100 day MA came in at the 82.23. The high reached 82.22. The weak data helped push the price further down and the price is now looking to test the next target which is the high price from Tuesday at the 81.75 level. Below that level the 81.50 level - the low for the day and the 38.2% of the move up from last Friday’s low.
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| US Home Sales, Leading Indicators, Philadelphia Fed Survey All Worse Posted: 19 May 2011 07:03 AM PDT Existing Home Sales: Survey: 5.20m Actual: 5.05m Prior: 5.10m Revised: 5.09m April 2011 vs March 2011 Total Sales: 5.050 vs 5.090 Single Family: 4.420 vs 4.440 Condos/Co-ops: 0.630 vs 0.0650 April 2011 vs March 2011 (Monthly % Change) April 2011 vs March 2011 (3-Mth Avg) Philadelphia Fed: Survey: 20.0 Actual: 3.9 Prior: 18.5 Philly Fed business conditions index is at its lowest since October 2010 Leading Indicators: Survey: 0.1% Actual: -0.3% Prior: 0.4% Revised: 0.7% |
| US Home Sales & Philadelphia Fed Survey Due at 10AM Posted: 19 May 2011 06:36 AM PDT
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| Feds Dudley says QE helpful in generating more employment growth Posted: 19 May 2011 06:19 AM PDT It has also given the economy more momentum. |
| The NY Opening Forex Commentary for May 19th 2011 Posted: 19 May 2011 06:01 AM PDT |
| Posted: 19 May 2011 05:33 AM PDT US jobless claims come in a bit better at 409,000 falling 29,000 from last weeks 434,000. The revision comes in slightly higher at 438,000. Continuing claims also come in better at 3711K opposed to the surveyed 3728K. |
| Swiss Economy Minister Amman says strong franc is reason for concern Posted: 19 May 2011 05:06 AM PDT
He does add however, that
The USDCHF pushed higher on the comments and now trades above the 100 hour MA at the 0.8843 level. Look for the level to give traders a support area for the time being at least. |
| US Jobless Claims Report Due at 8:30AM Posted: 19 May 2011 04:37 AM PDT
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| UK CBI was -2; slightly better than expected. Posted: 19 May 2011 03:01 AM PDT |
| Posted: 19 May 2011 02:58 AM PDT
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| Posted: 19 May 2011 02:55 AM PDT USD/CHF a little firmer; testing the 38.2% on the hourly move from Friday’s high to todays low. If momentum continues, the 100 hr moving average is the next target.
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| Swiss ZEW -11.5 vs. the 8.8 prior reading Posted: 19 May 2011 02:01 AM PDT |
| Posted: 19 May 2011 01:58 AM PDT
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| U.K retail sales came in at 1.1%, better than expected. Posted: 19 May 2011 01:30 AM PDT Sterling higher on the release. |
| Moody’s say NZ budget measure support Aaa rating Posted: 19 May 2011 01:10 AM PDT |
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