Forex Market Updates & Commentary |  |
- US Existing Home Sales Slightly Weaker
- EURJPY looking to roll over. Testing resistance against 100 and 200 bar MAs
- AUDUSD moves above trendline resistance and triggers stops
- US Existing Home Sales Data Due at 10AM
- EURUSD moves toward underside of trendline.
- GBPUSD tests trendline resistance
- Dollar moves higher on Greece/Portugal concerns
- Canada Wholesale Sales Data Falls to -0.4%, Falling 1.3% From Prior Figure
- Canada CPI Data Weaker Across the Board
- Sarkozy says Eurozone still facing danger
- UK Retail sales rise 0.6% in December, matching forecast
- UK’s Broadbent on the wires
- German PPI down 0.4% in December, a 0.1% rise was expected
- 1-20 Economic Calendar
- Chinese HSBC manufacturing PMI 48.8.
| US Existing Home Sales Slightly Weaker Posted: 20 Jan 2012 07:01 AM PST Existing Home Sales: Survey: 4.65M Actual: 4.61M Prior: 4.42M Revised: 4.39% Existing Home Sales (MoM): Survey: 5.2% Actual: 5.0% Prior: 4.0% Revised: 3.3% |
| EURJPY looking to roll over. Testing resistance against 100 and 200 bar MAs Posted: 20 Jan 2012 06:47 AM PST
The EURJPY has rotated lower over the last few hours of trading moving below the 100 and 200 bar MAs in the process. The price has rebounded off the first low and is not up testing the 100 bar MA. Stay below and the downside bias intensifies |
| AUDUSD moves above trendline resistance and triggers stops Posted: 20 Jan 2012 06:33 AM PST
The AUDUSD broke above trendline resistance on the daily chart and triggered stops (at 1.0450 level). Traders will be looking for the 1.0450 level to now be support for the pair. A move below the level could lead to some liquidation on the failed break. Otherwise bulls remain in control.
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| US Existing Home Sales Data Due at 10AM Posted: 20 Jan 2012 06:32 AM PST
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| EURUSD moves toward underside of trendline. Posted: 20 Jan 2012 06:24 AM PST
The Greece talks continue. There is no press conference scheduled. There is talk of a pre-agreement later today with technical agreement worked on over the weekend. The EURUSD has been rotating higher and approached the underside of the broken trendline at the 1.2936 level. |
| GBPUSD tests trendline resistance Posted: 20 Jan 2012 06:17 AM PST
The GBPUSD took a run to the upside and tested the trendline resistance at the 1.5530 (high reached 1.5529). The price has rotated back down as sellers used the level to define risk and limit risk. A move above the trendline would likely solicit stops. On the down side now, traders will be looking for the price to hold 1.5485-96. The market closed at 1.5485. The 1.5496 is the earlier high area.
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| Dollar moves higher on Greece/Portugal concerns Posted: 20 Jan 2012 05:33 AM PST
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| Canada Wholesale Sales Data Falls to -0.4%, Falling 1.3% From Prior Figure Posted: 20 Jan 2012 05:30 AM PST USD/CAD stays flat on the news. |
| Canada CPI Data Weaker Across the Board Posted: 20 Jan 2012 04:03 AM PST Consumer Price Index MoM: Survey: -0.2% Actual: -0.6% Prior: 0.1% Consumer Price Index YoY: Survey: 2.7% Actual: 2.3% Prior: 2.9% Bank of Canada CPI Core MoM: Survey: -0.2% Actual: -0.5% Prior: 0.1% Bank of Canada CPI Core YoY: Survey: 2.2% Actual: 1.9% Prior: 2.1% Consumer Price Index: Survey: 120.8 Actual: 120.2 Prior: 120.9 |
| Sarkozy says Eurozone still facing danger Posted: 20 Jan 2012 02:06 AM PST Eur/Usd down to 1.2890. |
| UK Retail sales rise 0.6% in December, matching forecast Posted: 20 Jan 2012 01:32 AM PST Gbp/Usd trades at 1.5470 after news, down 5 pips. |
| Posted: 20 Jan 2012 12:56 AM PST * MPC not dealing in fine tuning policy * BOE to keep forecast of flat Q4, Q1 * risks to UK overwhelmingly from Europe, downside risks lessened slightly over last 6 months
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| German PPI down 0.4% in December, a 0.1% rise was expected Posted: 19 Jan 2012 11:03 PM PST Eur/Usd has come off 7 pips to 1.2968 on heels of news. |
| Posted: 19 Jan 2012 08:41 PM PST
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| Chinese HSBC manufacturing PMI 48.8. Posted: 19 Jan 2012 06:58 PM PST |
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