Forex Market Updates & Commentary

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• Forex QUICK: EURJPY coming under pressure on risk aversion
• Forex QUICK:EURUSD tests support
• Forex Morning Report- June 7th
• IMFs Straus Kahn on newswires
• Forex QUICK: USDJPYadvances above 100 hour MA at 91.90 after holding 200 day MA earlier in the day
• Bobbys Corner-Open Market-June.7.2010
• Forex QUICK: GBPUSD moves above close from last week at 1.4472. 1.4522 next upside target to breach
• Forex QUICK: EURUSD rallies off the lows but still down on day. Eyes 1.1965 above
• EU Rehn on the newswires
• Eurozone Sentix Investor Confidence
• Not much of a bounce for Eur/Usd
• UK Telegraph Euro ‘will be dead in 5 years”
• 6-7 ECONOMIC CALENDAR
• EUR/JPY Hits November 2001 Lows, EUR/USD Breaks 1.19

Forex QUICK: EURJPY coming under pressure on risk aversion Posted: 07 Jun 2010 06:46 AM PDT

Forex QUICK:EURUSD tests support Posted: 07 Jun 2010 06:35 AM PDT

Forex Morning Report- June 7th Posted: 07 Jun 2010 06:30 AM PDT Forex Morning Report- June 7th

IMFs Straus Kahn on newswires Posted: 07 Jun 2010 05:56 AM PDT Says EU fiscal situationis a serious situation but the EU debt levels are not hugely higher than elsewhere (so is all debt too high then?). He also comments that perhaps it is not the right time to comment on the EURO. He sort of did already. The EURUSD has dipped a bit, and is now below the close from Friday, but remains above the 100 bar MA on the 5 minute chart at the 1.1946 level. Watch this level.

Forex QUICK: USDJPYadvances above 100 hour MA at 91.90 after holding 200 day MA earlier in the day Posted: 07 Jun 2010 05:49 AM PDT

Bobbys Corner-Open Market-June.7.2010 Posted: 07 Jun 2010 05:40 AM PDT Good Morning: The EUR/USD pair dropped to 1.1876 as Asian markets opened, but the pair has since recovered after data  showed a surge in German export orders, dismissing some concerns about the global recovery faltering. Also-Friday’s comments that the Hungarian economy is in a “very grave situation” added to the single currencies woes, even though Hungary is not a part of the EU.  Over the weekend, Hungarian authorities tried to downplay the statement, stating that comments regarding the Hungarian economy are exaggerated. Even with assurances from the Hungarian government, the markets are very concerned that their fiscal problems will continue if not worsen throughout the year. Concerns that this is just another issue with Europe, and will result in slower economic growth for the region as a whole are also adding  preesure to the Euro, and the global recovery. Equity markets in Asia were lower-and Europe has rebounded to pare earlier losses.  US Futures have also rebounded, and are now looking for a positive opening this morning. Oil:$71.45                                                            Gold:$1215.90 No Major Data today. HAVE A GREAT DAY & GOOD LUCK

Forex QUICK: GBPUSD moves above close from last week at 1.4472. 1.4522 next upside target to breach Posted: 07 Jun 2010 05:33 AM PDT

Forex QUICK: EURUSD rallies off the lows but still down on day. Eyes 1.1965 above Posted: 07 Jun 2010 05:15 AM PDT

EU Rehn on the newswires Posted: 07 Jun 2010 05:02 AM PDT Says Hungary is not in the same situation as Greece. The pace of the EURUSD decline is more of a worry. Not the level. The comments suggest that a weaker EURUSD is in order but it needs to be orderly so companies can adjust to the dynamics.  Also extreme volatility can dissuade global investors who might be discouraged from investing in the EURUSD because of hedging exposure.

Eurozone Sentix Investor Confidence Posted: 07 Jun 2010 01:34 AM PDT Eurozone Sentix Investor Confidence came in at -4.1, stronger than the -5.2 expected and prior reading of -6.2. No market reaction to figure as Eur/Usd trades at 1.1942.

Not much of a bounce for Eur/Usd Posted: 07 Jun 2010 01:32 AM PDT Considering that the pair has seen such a rapid decline on Friday the Eur/Usd has not seen much of a bounce during the European session. The 38.2 % retracement of the move down from 1.2215 to 1.1874 lies at 1.2004, still over 60 points away. Resistance is seen at 1.1955-65, with a break above allowing Euro to test 1.2004. This path does not seem likely for the pair and I expect a test of today’s low in the cards, probably as the U.S. gets in.

UK Telegraph Euro ‘will be dead in 5 years” Posted: 06 Jun 2010 11:12 PM PDT Twenty five leading economists took part in a UK Telegraph survey and have concluded that the Euro will not survive in its current form. The crisis in Greece, Spain and Portugal coupled with German Chancellor Angela Merkel’s acknowledgement that the currency is facing an external crisis are main factors in swaying opinion. This outlook on the Euro is  becoming the prevailing sentiment for the currency and financial markets are reacting accordingly. The Euro is at its most depressed level in a decade against all majors.

6-7 ECONOMIC CALENDAR Posted: 06 Jun 2010 09:00 PM PDT

EUR/JPY Hits November 2001 Lows, EUR/USD Breaks 1.19 Posted: 06 Jun 2010 05:35 PM PDT The Euro is being battered across the board again to open the trading week on further debt concerns out of the region. Last week we saw the debt of Portugal and Spain reach their widest levels against German Bunds since the inception of the Euro and no end is seemingly insight. US equity futures and Asian equities are selling off, down 3.25% on the Nikkei 30 minutes into trading.

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