Monday, October 24, 2011

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

The Forex Week Ahead for October 24th 2011

Posted: 24 Oct 2011 06:16 AM PDT

Feds Dudley says continued modest growth for US

Posted: 24 Oct 2011 05:51 AM PDT

  • Housing, State govt as headwinds
  • Fed Stimulus and Euro crisis also weighing on growth
  • Inflation to fall in fall of 2011 and 2012
  • Wage pressures not likely to rise
  • Household inflation expectations well anchored
  • Operation Twist provides some support for growth
  • Growth has picked up modestly in 2H
  • Fed doing everything within power
  • Call for comprehensize approach on housing
  • Inflation is poised to slow soon

Chicago Fed National Activity Improves to -0.22 From Prior of -0.43 vs Survey of -0.21

Posted: 24 Oct 2011 05:30 AM PDT

Bobbys Corner-Open Market-October.24.2011

Posted: 24 Oct 2011 05:26 AM PDT

Good Morning:

European leaders have failed to convince investors that they can come up with an effective work around to alleviate the Euro regions debt crisis.
The Euro also lost some support, as the markets are concerned that data from the Euro Zone showed that the manufacturing and  service sector fell in October at the fastest pace in 2 years.  This is not a direct sign of a recession-but it certainly points to an economy that is faltering.
The GBP rose, as uncertainty regarding the European debt issue had investors move to the safety of the GBP.  JPY also rose as investors look for a safe haven for their assets.

 World equity markets were mixed, and US Futures are up slightly.
Oil, gold, silver are all higher too.

HAVE A GREAT DAY & GOOD LUCK

 

The NY Morning Forex Commentary is available for viewing

Posted: 24 Oct 2011 04:06 AM PDT

US Chicago Fed National Activity Data Due at 8:30AM

Posted: 24 Oct 2011 03:57 AM PDT

Eurozone Industrial New Orders

Posted: 24 Oct 2011 02:04 AM PDT

E/Z Industrial New Oreders m/m came in at 1.9%, stronger than the 0.1% expected.

The news has momentarily stopped Eur/Usd’s slide, as the pair is up 10 points off recent low to 1.3854.

Eurozone Flash Mfg. & Services PMI

Posted: 24 Oct 2011 01:05 AM PDT

E/Z Flash Mfg. PMI came in at 47.3, weaker than the 48.1 expected.

Services PMI came in at 47.2, weaker than the 48.6 expected.

Eur/usd currently trades at 1.3895.

German Flash Mfg. & Services PMI

Posted: 24 Oct 2011 12:38 AM PDT

German Flash Mfg. PMI came in at 48.9, weaker than the 50.0 expected.

Services PMI came in at 52.1, stronger than the 49.8 expected.

Eur/Usd currently trades at 1.3904.

Japanese FM Igarashi; will take decisive steps on Yen if needed

Posted: 24 Oct 2011 12:19 AM PDT

* excessive yen moves not desirable, one sided moves problematic

* Japan needs to see if speculators are moving yen

French Flash Mfg & Services PMI

Posted: 24 Oct 2011 12:15 AM PDT

French Flash Mfg. PMI came in at 49.0, stronger than the 48.1 expected.

Services PMI came in at 46.0, weaker than the 50.6 expected.

Eur/Usd dropped over 30 points to 1.3895 on heels of news. The pair currentl trades at 1.3910.

10-24 Economic Calendar

Posted: 23 Oct 2011 08:43 PM PDT

usd/hkd testing the 100 mv

Posted: 23 Oct 2011 08:10 PM PDT

usd/hkd testing the 100 bar moving average.

HSBC China Manufacturing PMI

Posted: 23 Oct 2011 07:39 PM PDT

China’s Manufacturing PMI for October according to the HSBC flash release moved above the expansionary threshold to 51.1  from a contractionary reading of 49.9 the prior release. Risk continued its bid following the release, moving above the lower open but not quite to Friday’s closing levels.
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