Monday, June 21, 2010

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

ECB Trichet on the newswires

Posted: 21 Jun 2010 07:38 AM PDT

Says:

  • Recovery will be uneven
  • Rates are appropriate
  • Price expectations are anchored
  • Inflation to remain well contained
  • Surveillance of budgets must be strengthened

Bank of Canada Financial system reiveon the newswires

Posted: 21 Jun 2010 07:35 AM PDT

Says:

Risk to country’s financial system are higher
Risk from bank capital adequecy is falling
Fiscal tension could hit Canada interbank funding market
Household credit growth an Important risk
Risk from global imbalances, economic outlook are higher.

Forex QUICK: USDCAD has double bottom at 1.0150 area. Remains bearish.

Posted: 21 Jun 2010 06:30 AM PDT

Forex Morning Report- June 21

Posted: 21 Jun 2010 06:29 AM PDT

Forex Morning Report- June 21

Forex QUICK:AUDUSD benefits the most from China float

Posted: 21 Jun 2010 06:02 AM PDT

Forex QUICK:USDJPY benefits from flight into risk

Posted: 21 Jun 2010 05:50 AM PDT

Forex QUICK: EURUSD tests 100 hour MA support at 1.2344 and bounces

Posted: 21 Jun 2010 05:38 AM PDT

NY Opening Commentary: GBPUSD benefits from better housing but comes off toward midpoint levels

Posted: 21 Jun 2010 05:23 AM PDT

Bobbys Corner-Open Market-June.21.2010

Posted: 21 Jun 2010 05:08 AM PDT

bob-slade-forex-trading-8-150x200Good Morning:

It is officially summer (7:28 AM EST) this morning.  I hope all of you enjoy the summer months ahead.

The USD traded near a 1 month low vs the euro.  News that China may end the yuan’s fixed rate to the USD, added to the lower dollar.   The comments out of China are very positive for global growth and the overall recovery.  Most certainly-any change in monetary policy by the Chinese government will be done gradually.
The commodity currencies were the main benefactors of the Chinese announcement-as their currencies rallied after the comments.
With no data due out of North America today-the equity market flows will set the pace for the FX markets today.

World equity markets were higher, and US Futures are also higher this morning.
Oil and metals rallied-with Gold reaching a all time high overnight.

Oil:$78.38                          Gold:$1261.30 

No major data today.

HAVE A GREAT DAY & GOOD LUCK

Forex Opening Commentary:EURUSD fluctuates as market digests PBC decision

Posted: 21 Jun 2010 05:04 AM PDT

NY Opening Forex Commentary for June 21st 2010

Posted: 21 Jun 2010 04:42 AM PDT

Japanese All Industries Activity

Posted: 20 Jun 2010 10:14 PM PDT

The market had a very limited reaction to a worse than expected May all industries activity which came in at 1.8% versus the forecast of 2.1% and prior reading of  -0.7%.

Chinese Yuan Climbs

Posted: 20 Jun 2010 07:55 PM PDT

The Chinese Yuan has appreciated by 65 pips against the USD from 6.8275 to 6.8210 the largest move against the dollar since February 22nd. The EUR/USD has moved back above the 1.24 handle on that news as we see the Nikkei up 1.77% and US equity futures remain bid.

Euro Pares Gains as Yuan Reference Rate is Unchanged

Posted: 20 Jun 2010 06:33 PM PDT

The EUR/USD pair is under some pressure early in the far east as the much anticipated Yuan revaluation did not happen following the Hang Seng open as China left the reference rate unchanged at 6.8275 versus the USD. The EUR/USD pair initially gapped ~75+ pips higher on the open anticipating a weaker USD, but the unchanged reference rate has speculators covering some longs as we have seen the pair break below Friday’s closing levels. The pair is now approaching trendline support and the 4-200hr moving average, where some bids could be waiting as the long-term affect of the revised Chinese monetary policy is still very much in play.

eurusd11
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