Friday, September 9, 2011

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Forex Fast Track workshop Online and Live sessions October 12-15 2011

Posted: 09 Sep 2011 07:24 AM PDT

Forex Fast Track workshop- 2 days online, 1 day live in Phoenix with James Chen and Greg Michalowski

Accelerated Learning Online and Live-

The workshop will consist of two interactive three-hour webinar sessions.  The first session will be on Wednesday, October 12th and the second on Thursday, October 13th, both at 6PM EDT each day.  Both of the webinars will also be recorded.  On Saturday, October 15th, James Chen, Greg Michalowski and Shawn Powell will be in Phoenix to conclude the series with a full day of face-to-face training at the Scottsdale Marriott at McDowell Mountains.

What you will get:

  • Two days of Online Education
  • A Full Day of Live Training with FXDD's James Chen and Greg Michalowski
  • Hands on, intensive learning environment
 Beautiful Hotel and Surrounding area

  • Continental Breakfast
  • Certificate of Completion
  • Closing Cocktail Reception

Fourteen hours of Forex training by two industry professionals, with years of experience coming to your home town.  This type of opportunity does not come every day, so act now.

What does it cost?

FXDD is making a commitment to provide meaningful trading education to our clients.  We want you to succeed.  Although this course could cost thousands of dollars elsewhere, FXDD is offering the 14-hours of training with James and Greg for just $399.  As part of our dedication to your education, FXDD will take $200 of your investment and deposit it directly into your live trading account after graduation to help get you started.*    Call 212 791 3933 x7187 or email Shawn Powell  spowell@fxdd.com to register or for more details.

EURUSD breaking below the 1.3728 support. Key level for traders

Posted: 09 Sep 2011 07:13 AM PDT

The EURUSD has moved lower on the back of ECBs Stark resignation.  The move lower has pushed the price below a couple trendlines on the hourly chart at the 1.3728 area. This level will be key for traders.  Right now the price has remained below it keeping the bearish bias. A move above should lead to some short covering.

On the downside, the next key support comes in at the 1.3662 level. This is the 61.8% of the 2011 trading range.

 

ECB Stark set to resign from the ECB board

Posted: 09 Sep 2011 05:55 AM PDT

Margin on Gold has been increased according th CME website.

Posted: 09 Sep 2011 05:39 AM PDT

Canada Housing Starts Drop Below 200K

Posted: 09 Sep 2011 05:18 AM PDT

Canada Housing Starts:   Survey: 200.0K   Actual: 184.7K    Prior: 205.1K    Revised:  204.5K

Aug vs July 2011
Total: 184,700 vs 204,500
3-Mo. Average:  195,267 vs 198,400
Urban Areas: 165,800 vs 184,600
Single Family: 64,400 vs 64,600
Multi Family: 101,400 vs 120,000
Rural Areas: 18,900 vs 19,900

NY Morning Forex Commentary for Sep 9th

Posted: 09 Sep 2011 05:00 AM PDT

Canada Housing Starts Data Due at 8:15AM

Posted: 09 Sep 2011 04:19 AM PDT

Canada Unemployment comes in weaker with -5.5k job change

Posted: 09 Sep 2011 04:00 AM PDT

Unemployment moves up 7.3%.

Full time employment adds 25.7K
Part time subtracts -31.2K
Participation Rate falls to 66.7 from 66.8

The weaker employment numbers will certainly move ideas of rate rises out of the question for the Bank of Canada (and with global growth slowing could be a decline next).  The decline was the first decline since March 2011. 

The USDCAD has moved higher off the news. Traders will be eying the 38.2% of the last leg higher.  If the level can hold the price has further potential to run higher.

On the hourly chart the upaide has resistance at 0.9950. A move above that level opens up the upside more.

HSBC cuts its 2011 Eurozone growth forecast to 1.6% from 2%, and cuts 2012 from 1.4% to 0.7%.

Posted: 09 Sep 2011 02:42 AM PDT

UK CB leading index 0.3%.

Posted: 09 Sep 2011 02:30 AM PDT

ECB’s Makuch

Posted: 09 Sep 2011 02:17 AM PDT

  • Short-term goal is to cut deficits below 3% of GDP, head toward balanced budgets.
  • Governments, not ECB, must solve fiscal problems in member states.
  • Swift fiscal consolidation in the Euro-zone is key to finding solutions.
  • Long-term goal is to build fiscal pillar of monetary union.

JPM FX head says may need to downgrade EUR/USD forecast.

Posted: 09 Sep 2011 01:38 AM PDT

UK PPI input (m/m) -1.9% vs -1.5% expected.

Posted: 09 Sep 2011 01:33 AM PDT

Output was 0.2%; better than the 0.1% expectation.

IMF’s Lagarde on the wires…

Posted: 09 Sep 2011 12:41 AM PDT

  • Cannot comment yet on amount needed for steps against strong JPY.
  • global economy slowed and downside risks have increased.
  • Growth in some emerging markets may be too fast, policy may have to act to contain inflation.
  • Consolidation, if happening too quickly, will hurt recovery.
  • Advanced economies must restore fiscal sustainability.
  • Monetary policy has to play a role in advanced economies, needs to be highly accommodating.
  • Monetary policy makers should stand ready to act, including unconventional measures.
  • US economic performance has been disappointing, downside risks have increased.
  • Some banks need additional capital.
  • UK strong fiscal consolidation is essential.
  • Must not dismiss the risk of liquidity crisis.

Chinese central bank advisor Li says its not proper for beijing to raise interest rates if US continues with easing.

Posted: 08 Sep 2011 11:40 PM PDT
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