Forex Market Updates & Commentary

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• FITCH DOWNGRADES GREECE
• Wholesale Inventories Out at 0.4% v 0.6% Expected
• Unemployment Stay Steady at 8.3%, US Payrolls Rise from Survey
• Canadian Labor Productivity and International Merchandise Trade
• Bobbys Corner-Open Market-March.9.2012
• US Unemployment Due at 8:30AM
• Canada Unemployment Falls to 7.4%
• UK Manufacturing Production up 0.1% vs. 0.3% from prior month
• French Jan. Industrial Production up 0.3% from prior month, 0.6% was expected
• German Final CPI unrevised at 0.7%
• Greece confirms debt swap deal
• Some economic data out of China
• 3-9 Economic Calendar
• usd/twd finds resistance.
• usd/sgd in the middle of the range of this sideways channel.

FITCH DOWNGRADES GREECE Posted: 09 Mar 2012 07:08 AM PST FITCH DOWNGRADES GREECE Restricted Default from C

Wholesale Inventories Out at 0.4% v 0.6% Expected Posted: 09 Mar 2012 07:00 AM PST Wholesale Inventories Out at 0.4% v 0.6% Expected

Unemployment Stay Steady at 8.3%, US Payrolls Rise from Survey Posted: 09 Mar 2012 05:37 AM PST Change in Nonfarm Payrolls:   Survey:  210K     Actual:  227K    Prior:  243K      Revision: 284kK Change in Private Payrolls:  Survey: 225K    Actual: 233K     Prior:  212K     Revised: 285K Change in Manufacturing Payrolls:  Survey: 24K   Actual:  31K   Prior:  50K     Revised:  52K Unemployment Rate:  Survey:  8.3%     Actual: 8.3%     Prior:  8.5% Avg Hourly Earning (MoM) All Emp:    Survey:  0.2%     Actual: 0.1%      Prior:  0.2%  Revised: 0.1% Avg Hourly Earning (YoY) All Emp:    Survey:  2.0%      Actual: 1.9%      Prior:  1.9%    Revised: 1.8% Avg Weekly Hours All Employees:    Survey:  34.5      Actual: 34.5         Prior:  34.5

Canadian Labor Productivity and International Merchandise Trade Posted: 09 Mar 2012 05:31 AM PST Canadian Labor Productivity and International Merchandise Trade   Labor Productivity Survey: 0.6%, Actual: 0.7%, Previous: 0.4%, Revised:  0.6% International Merchandise Trade Survey: 2.00B, Actual: 2.10B, Previous: 2.69B, Revised: 2.86B

Bobbys Corner-Open Market-March.9.2012 Posted: 09 Mar 2012 05:24 AM PST Good Morning: It was a surprisingly quiet session as all eyes are on this morning’s US jobs report. In Greece-the government announced that private investors have agreed to forgive 100 billion euros of debt.  The participation rate was at 95%-and other members of the EU see the swap agreement as a success.  This is one of the last hurdles that Greece needs to jump over to ensure that their next bailout package will arrive without further complications. US payroll data is due out at 8:30 AM:  Non Farm payrolls are expected to rise 215K. The jobless rate is expected to stay at 8.3%  Gold, silver and oil are all higher. Asian equity markets were higher as were European.  US Futures are slightly higher at this time. HAVE A GREAT DAY & GOOD LUCK

US Unemployment Due at 8:30AM Posted: 09 Mar 2012 05:12 AM PST

Canada Unemployment Falls to 7.4% Posted: 09 Mar 2012 04:01 AM PST Canada Unemployment  Falls to 7.4% Change in Employment – Survey: 15.0K   Actual: -2.8K   Prior: 2.3K Unemployment Rate – Survey: 7.6%   Actual: 7.4%   Prior: 7.6%

UK Manufacturing Production up 0.1% vs. 0.3% from prior month Posted: 09 Mar 2012 01:36 AM PST Industrial Production down 0.4% vs. +0.4% expected. Gbp/Usd off 20 pips to 1.5770

French Jan. Industrial Production up 0.3% from prior month, 0.6% was expected Posted: 08 Mar 2012 11:48 PM PST Eur/Usd trades at 1.3233, relatively unaffected.

German Final CPI unrevised at 0.7% Posted: 08 Mar 2012 11:02 PM PST German Trade Balance at 14.2B, stronger than the 13.8B expected and prior reading of 13.9B. Eur/Usd trades at 1.3237.

Greece confirms debt swap deal Posted: 08 Mar 2012 10:16 PM PST Participation in debt swap at 95.7% with clauses. 172 bln euros of bonds tendered in swap. Eur/Usd down 20 points to 1.3240. Eur/Jpy to 10817, off 30 points.

Some economic data out of China Posted: 08 Mar 2012 09:50 PM PST Fixed asset investment ytd/y 21.5% vs. 19.8% expected Industrial production y/y 11.4% vs. 12.4% expected Retail sales y/y 14.7% vs. 17.4% expected

3-9 Economic Calendar Posted: 08 Mar 2012 08:35 PM PST

usd/twd finds resistance. Posted: 08 Mar 2012 06:01 PM PST usd/twd finds resistance at the bottom of this wedge giving a bearish signal for this pair.

usd/sgd in the middle of the range of this sideways channel. Posted: 08 Mar 2012 05:55 PM PST usd/sgd in the middle of the range of this sideways channel.

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