Forex Market Updates & Commentary

---

• Dallas Fed Manufacturing Activity Worsens to 3.2 vs 5.0 Expected and Prior of 2.3
• US New Home Sales Month over Month Stronger, Revisions Weaker
• US New Home Sales Data Due at 10AM
• UK CBI Realized Sales
• Eurozone M3 Money Supply
• 11-28 Economic Calendar
• Shirakawa says European debt crisis is the biggest threat to Japan.
• usd/cnh testing the 38.2% retracement level on the daily chart.
• ASB Bank says NZ central bank will keep cash rate unchanged until the end of 2012.
• Euro opens higher as IMF prepares a 600B EUR loan for Italy.
• ECB’s Noyer
• NBNZ Business Confidence 18.3 vs. 13.2 prior.
• usd/hkd finding some resistance at the 7.79670 area.
• usd/sgd gaps lower over the weekend

Dallas Fed Manufacturing Activity Worsens to 3.2 vs 5.0 Expected and Prior of 2.3 Posted: 28 Nov 2011 07:33 AM PST

US New Home Sales Month over Month Stronger, Revisions Weaker Posted: 28 Nov 2011 07:01 AM PST Sales:   Survey: 300K     Actual: 313K     Prior: 307K      Revised:  313K  Revised:  303K New Home Sales (MoM):  Survey: 0.0%     Actual:  1.3%     Prior:  5.7%     Revised:  3.4%

US New Home Sales Data Due at 10AM Posted: 28 Nov 2011 04:09 AM PST

UK CBI Realized Sales Posted: 28 Nov 2011 03:07 AM PST CBI Realized Sales came in at -19, weaker than the -12 expected. Gbp remians strong though as Gbp/Usd trades 10 points of high at 1.5480.

Eurozone M3 Money Supply Posted: 28 Nov 2011 01:07 AM PST M3 Money Supply y/y came in at 2.6%, weaker than the 3.4% expected. Private loans y/y came in at 2.7%, stronger than the 2.6% expected Eur/Usd is trading just off session highs at 1.3355.

11-28 Economic Calendar Posted: 27 Nov 2011 09:24 PM PST

Shirakawa says European debt crisis is the biggest threat to Japan. Posted: 27 Nov 2011 06:47 PM PST JPY and over seas economies slowdown will affect Japanese economy. Economy will return to moderate recovery. Sovereign debt crisis is the biggest threat to the economy. Exports will remain severe for now. BOJ will pursue “powerful” monetary easing. Rapid JPY gains may hurt growth. Intervention was appropriate and effective. Well aware of JPY effect on exports. BOJ has aggressively provided money. Yen gains are a spillover from the European crisis. JPY purchased as a safe haven currency.

usd/cnh testing the 38.2% retracement level on the daily chart. Posted: 27 Nov 2011 06:09 PM PST usd/cnh testing the 38.2% retracement level on the daily chart.

ASB Bank says NZ central bank will keep cash rate unchanged until the end of 2012. Posted: 27 Nov 2011 05:42 PM PST

Euro opens higher as IMF prepares a 600B EUR loan for Italy. Posted: 27 Nov 2011 05:27 PM PST The Euro traded higher over the weekend opening nearly 100 points higher than Friday’s close after the International Monetary Fund announced it is preparing a loan of as much as 794B Euros in case Italy’s debt situation worsens. It is said that the funds would allow Prime Minster Monti to introduce reforms over the next year and a half without having to refinance any already existing debt; paying between 4 and 5 percent interest. Since the open the EUR/USD has been range trading between 1.3320 and 1.3280, currently making moves higher.

ECB’s Noyer Posted: 27 Nov 2011 04:49 PM PST Europe crisis has worsened “significantly”. Market stress has “intensified”. Europe has resources to face financing gap. Europe now undergoing “true financial crisis”. Confidence in the Euro is as strong as ever. Capital rules are discouraging banks from buying government bonds. ECB’s limited interventions are warranted. Objective is not to expand monetary base. markets thing ECb should buy more government debt. “Some governments” think the ECB should buy more public debt. Its unrealistic to expect an increase in EFSF. Open to a leveraged EFSF.

NBNZ Business Confidence 18.3 vs. 13.2 prior. Posted: 27 Nov 2011 04:03 PM PST

usd/hkd finding some resistance at the 7.79670 area. Posted: 27 Nov 2011 02:27 PM PST usd/hkd finding some resistance at the 7.79670 area.

usd/sgd gaps lower over the weekend Posted: 27 Nov 2011 02:24 PM PST the usd/sgd gaps lower over the weekend back in the middle of this upward channel.

You are subscribed to email updates from Forex News and Commentary by FXDD To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610