Forex Market Updates & Commentary |  |
- Forex Traders Course: Intro to Technicals Lesson 10 with Greg Michalowski
- Disappointment from Philadelphia
- Philadelphia Fed Data Fall to 7.3, Prior and Survey Both 10.3
- EURUSD falls to 100 hour MA /50% retracement. Philadelphia Fed Index awaited.
- US Philadelphia Fed Survey Due at 10AM
- IMF cuts Irish GDP for 2010 to 0.5 %
- Mexico Unemployment Improves to 4.51% , Prior Figure of 4.97%
- Claims the big surprise. Dollar moves higher initially but stalls
- Jobless Claims Lowest Since April 2008, CPI & Housing Starts Weaker, Building Permits Stay the Same
- Canada Manufacturing Sales (MOM) Come Out Higer
- Bobbys Corner-Open Market-January.19.2012
- IIF propose hybrid coupon on Greek debt coupon
- ECB Draghi says economic situation could worsen
- Plethora of 8:30AM US Data
- EURUSD moves to fresh highs on better Spanish auctions. Greece a hope still.
| Forex Traders Course: Intro to Technicals Lesson 10 with Greg Michalowski Posted: 19 Jan 2012 07:13 AM PST
Join us for the Forex Traders Course: Lesson 10 with Greg Michalowski, FXDD’s Chief Currency Analyst. Greg will teach a session from 4-5pm EDT (New York time) Here is the link to register for today https://www1.gotomeeting.com/register/970610961 You can watch all of the previous sessions from 1-9 here |
| Disappointment from Philadelphia Posted: 19 Jan 2012 07:06 AM PST Employment Flat and New Orders down are not what the market wanted. The effect on the market has so far been limited. The EURUSD – which does not really know how to react on strong/weak US data – has kept the recent intraday bias and approaches the days midpoint at the 1.2881. |
| Philadelphia Fed Data Fall to 7.3, Prior and Survey Both 10.3 Posted: 19 Jan 2012 07:00 AM PST January 12′ vs. December 11′ |
| EURUSD falls to 100 hour MA /50% retracement. Philadelphia Fed Index awaited. Posted: 19 Jan 2012 06:56 AM PST
The EURUSD fell below trendline and then the 38.2% retracement as it moved to the 100 bar and 50% retracement of the days range. The range remains narrow for the pair. The market is subject to headline news from Greece. This keeps the market on edge. The Philadelphia Fed Index is due out at 10 AM. Expectations are for a rise to 10.3 from 6.8 last month. |
| US Philadelphia Fed Survey Due at 10AM Posted: 19 Jan 2012 06:02 AM PST
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| IMF cuts Irish GDP for 2010 to 0.5 % Posted: 19 Jan 2012 06:01 AM PST
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| Mexico Unemployment Improves to 4.51% , Prior Figure of 4.97% Posted: 19 Jan 2012 06:00 AM PST |
| Claims the big surprise. Dollar moves higher initially but stalls Posted: 19 Jan 2012 05:48 AM PST The much better than expected Initial Claims (lowest since April 2008) gave the dollar a boost, but the move down seems to have stalled. The EURUSD is up around .44% today – just behind the strength of the CHF. Optimism that a Greek bond restructuring and a better Spanish bond auction are the reasons for the uptick.
From a technical perspective, the pair broke above the daily channel trendline in early Asian trading and has not looked back (1.2848 is the trendline today). The range is still narrow on the day at 88 pips and could see an extension. The 1.2945 level is an upside target (low from Mid December).
The shorter 5 minute charts is giving mixed signs. The price broke lower on the news but rebounded. The rebound came up short of the high and the price has rotated back down. Market action is more balanced. You have to respect the upside bias but take the need to take out the 1.2925 will be needed to keep the buyers content. On the downside the 1.2892 is the break point on the downside today. A move below this level should lead to further selling potential for the pair.
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| Jobless Claims Lowest Since April 2008, CPI & Housing Starts Weaker, Building Permits Stay the Same Posted: 19 Jan 2012 05:33 AM PST Consumer Price Index(MoM): Survey: 0.1% Actual: 0.0% Prior: 0.0% CPI Ex Food & Energy(MoM): Survey: 0.1% Actual: 0.1% Prior: 0.2% Housing Starts: Survey: 680K Actual: 657K Prior: 685K Housing Starts (MoM)%: Survey: -0.7% Actual: -4.1% Prior: 9.3% Revised: 9.1% Building Permits: Survey: 679K Actual: 679K Prior: 681K Revised: 680K Building Permits (MoM)%: Survey: -0.2% Actual: -0.1% Prior: 5.7% Revised: 5.6% Jobless Claims: Survey: 384K Actual: 352K Prior: 399K Revised: 402K Continuing Claims: Survey: 3590K Actual: 3432K Prior: 3628K Revised: 3647K |
| Canada Manufacturing Sales (MOM) Come Out Higer Posted: 19 Jan 2012 05:31 AM PST Survey 1.2% Actual: 2.0% Prior: -0.8% Revised: -0.6% |
| Bobbys Corner-Open Market-January.19.2012 Posted: 19 Jan 2012 05:25 AM PST
In some of the saddest corporate news in a long time-Eastman Kodak Co filed for bankruptcy protection from creditors this morning. Spain and France had very solid results and participation during today’s bond auctions. Today we have data on CPI and Philly Fed. We will also see data on jobless claims-which came very close to the majic 400K number last week. It is expected to fall below 390K this morning. Equity markets were higher-as are US futures at this time. Gold, silver and Oil are all higher. HAVE A GREAT DAY & GOOD LUCK |
| IIF propose hybrid coupon on Greek debt coupon Posted: 19 Jan 2012 04:56 AM PST Below 4% to start. Rising every 2 years thereafter. Source says there is a very good chance a deal is reached this week with regard to the Private Sector Involvement. |
| ECB Draghi says economic situation could worsen Posted: 19 Jan 2012 04:55 AM PST
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| Posted: 19 Jan 2012 04:12 AM PST
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| EURUSD moves to fresh highs on better Spanish auctions. Greece a hope still. Posted: 19 Jan 2012 04:06 AM PST
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