Forex Market Updates & Commentary

---

• Forex QUICK: EURUSD breaks through intraday floor and extends downside move
• ISM Non Manufacturing stayed unchanged from last month. A little weaker than expected
• Forex Morning Report- June 3
• Fed’s Lockhart on wires
• Forex QUICK: GBPUSD trades with a slight bearish bias. Key support at 1.4624-28 today.
• Initial Claims come in as expected
• Forex QUICK: EURUSD trading like it should from tech perspective in early NY trade
• ADP Employment Change +55K jobs
• Forex QUICK:USDCAD bottomed? A technical look at the pair.
• Bobbys Corner-Open Market-June.3.2010
• ADP NonFarm Employment Change due at 8:15 AM
• Forex QUICK:USDJPY testing key resistance at 92.67-81 area
• Feds Lockhart on the newswires
• New York Opening Forex Commentary is available for viewing
• Eurozone Retaul Sales

Forex QUICK: EURUSD breaks through intraday floor and extends downside move Posted: 03 Jun 2010 07:10 AM PDT

ISM Non Manufacturing stayed unchanged from last month. A little weaker than expected Posted: 03 Jun 2010 07:03 AM PDT EMPLOYMENT INDEX 50.4 AFTER 49.5 LAST MONTH BACKLOGS INDEX 56.0 AFTER 49.5 LAST MONTH PRICES INDEX 60.6 AFTER 64.7 LAST MONTH INVENTORY INDEX 62.5 AFTER 54.5 LAST MONTH ORDERS INDEX 57.1 AFTER 58.2 LAST MONTH BUSINESS ACTIVITY AT 61.1 VS 60.3 LAST MONTH

Forex Morning Report- June 3 Posted: 03 Jun 2010 06:23 AM PDT Forex Morning Report- June 3

Fed’s Lockhart on wires Posted: 03 Jun 2010 05:59 AM PDT Says: Would like to see evidence employment is improving

Forex QUICK: GBPUSD trades with a slight bearish bias. Key support at 1.4624-28 today. Posted: 03 Jun 2010 05:56 AM PDT

Initial Claims come in as expected Posted: 03 Jun 2010 05:32 AM PDT Productivity is revised lower to 2.8% from 3.4%. This might be bearish for stocks as lower productivity gains hits the bottom line for corporations, but it is old news.

Forex QUICK: EURUSD trading like it should from tech perspective in early NY trade Posted: 03 Jun 2010 05:30 AM PDT

ADP Employment Change +55K jobs Posted: 03 Jun 2010 05:15 AM PDT This is probably weaker than what the market might have been looking for given a 500K estimate for NFP on Friday.  The prior month was revised to 65 from 32K. SMall business up 13 K, Medium businesses up 39K, and Large business up 3K. Service jobs added 78K and Manufacturing rose 15K The USDJPY fell on the news and weaker data.  The USDJPY has support at the 92.54  level and the 100 bar MA on the 5 minute chart at the 92.49 level.

Forex QUICK:USDCAD bottomed? A technical look at the pair. Posted: 03 Jun 2010 05:14 AM PDT

Bobbys Corner-Open Market-June.3.2010 Posted: 03 Jun 2010 05:12 AM PDT Good Morning: The JPY traded lower overnight as signs that the global economy is getting stronger-thus dampening the demand for the Japanese currency as a safe haven.  The JPY also declined due to the political changes going on in Japan. Prime Minister Hotoyama resigned and Finance Minister Kan is expected to fill his shoes, and Kan has already made comments that he wants the JPY to weaken-as a higher yen slows profits for exporters, who have lead Japan’s recovery.  World equity markets rose, and US Futures are higher at this time.  Commodities also rallied, after GM and Ford announced higher than expected sales increases for May. Oil:$73.25                                                       Gold:$1218.50    Today’s data: 8:15A.M. ADP EMPLOYMENT CHANGE MAY 70K 32K 8:30A.M. NONFARM PRODUCTIVITY 1QF 3.40% 3.60% 8:30A.M. UNIT LABOR COSTS 1QF -1.40% -1.60% 8:30A.M. INITIAL JOBLESS CLAIMS 29-May 453K 460K 8:30A.M. CONTINUING CLAIMS 22-May 4610K 4607K 10:00A.M. FACTORY ORDERS  APRIL 1.80% 1.30% 1.10% 10:00A.M. ISM NON MANUF.COMPOSITE MAY  55.6O  55.4O 10:30A.M. ICSC CHAIN STORE SALES Y  YoY MAY 0.80%   HAVE A GREAT DAY & GOOD LUCK

ADP NonFarm Employment Change due at 8:15 AM Posted: 03 Jun 2010 05:00 AM PDT The forecast bears no resemblance to Fridays NFP estimates which are pushing 500,000 due to cencus workers. Also released at 8:30 will be the Nonfarm Productivity for the 1Q. This is a revised number. The expectation is for a decline to 3.4% from 3.6%.  The Unit Labor Costs are expected to show a decline of -1.4% from -1.6%.  Finally Jobless Claims are expected to show a fall to 455K from 460K.  The Continuing Claims are expected to stay relatively unchanged at 4610K vs 4607K

Forex QUICK:USDJPY testing key resistance at 92.67-81 area Posted: 03 Jun 2010 04:45 AM PDT

Feds Lockhart on the newswires Posted: 03 Jun 2010 04:31 AM PDT Says time is approaching to weigh recalibrating policy. Also conditions requiring policy change not yet at hand. He sees improvement in jobs market and that confidence is “warranted” for US growth.

New York Opening Forex Commentary is available for viewing Posted: 03 Jun 2010 04:25 AM PDT

Eurozone Retaul Sales Posted: 03 Jun 2010 02:03 AM PDT Eurozone Retail Sales m/m came in at-1.2%, weaker than the 0.1% expected and prior reading of 0.0%. Seemingly bad number for the Euro but market not reacting as such. Eur/Usd escalated above 1.2300 upon release.

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