Forex Market Updates & Commentary

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• Fitch says UK Budget is strong statement of intent
• Forex QUICK: EURUSD dips below 200 hour MA on S&P comment on Spain
• S&P on the Newswires
• Forex QUICK:EURUSD comes off to test 200 hour on weaker housing data
• Existing Home Sales fall farther than expected
• Existing Home Sales Fall as Richmond Fed up a Touch
• Forex Morning Report- June 22 2010
• Existing Home Sales and Richmond Fed Manufacturing Index Due out at 10AM
• GBPUSD breaks higher after short pause at 1.4781
• GBPUSD tests 38.2% retracement at 1.4781
• Forex QUICK:USDCAD decision time. Watching 1.0205 support level.
• Forex QUICK: EURUSD approaches key support at 1.2241
• Bobbys Corner-Open Market-June.22.2010
• Forex QUICK: Osbornes budget speach has the GBPUSD on the defensive. Watch 1.4710
• NY Opening Forex Commentary is available for viewing

Fitch says UK Budget is strong statement of intent Posted: 22 Jun 2010 08:20 AM PDT This is giving the GBPUSD a boost

Forex QUICK: EURUSD dips below 200 hour MA on S&P comment on Spain Posted: 22 Jun 2010 07:39 AM PDT

S&P on the Newswires Posted: 22 Jun 2010 07:30 AM PDT S&P Officials tell Reuters insider TV Spain needs additional measures to meet fiscal targets. Also says France has very high deficits.

Forex QUICK:EURUSD comes off to test 200 hour on weaker housing data Posted: 22 Jun 2010 07:23 AM PDT

Existing Home Sales fall farther than expected Posted: 22 Jun 2010 07:04 AM PDT The annualized rate fell to 5.66 MM from revised 5.79 million last month.  THe expectation was for a rise to 6.12 million.  The month supply came in at 8.3months vs 8.4 months.  The house price index rose by 0.8 which was higher than expected.  Meanwhile Richmond Fed rose to 23 versus expectations of 20. USDJPY has moved lower  on the news. The price continues to have support at the 90.51 level which is a floor area over the last few days.   A break targets 90/41 then the low for the week at 90.18.

Existing Home Sales Fall as Richmond Fed up a Touch Posted: 22 Jun 2010 07:02 AM PDT Existing Home Sales:        Survey: 6.12M           Actual: 5.66M           Prior: 5.77M         Revised: 5.79M Existing Home Sales(MoM):     Survey: 6.0%           Actual: -2.2%           Prior: 7.6%         Revised: 8.0% House Price Index (MoM):       Survey: 0.3%       Actual:  0.8%   Prior:  0.3%     Richmond Fed Manufacturing Index:      Survey: 20     Actual: 23     Prior: 26

Forex Morning Report- June 22 2010 Posted: 22 Jun 2010 06:27 AM PDT Forex Morning Report- June 22 2010

Existing Home Sales and Richmond Fed Manufacturing Index Due out at 10AM Posted: 22 Jun 2010 06:08 AM PDT

GBPUSD breaks higher after short pause at 1.4781 Posted: 22 Jun 2010 05:58 AM PDT After a short pause the GBPUSD broke higher above 1.4781.   I expect higher levels toward 1.4811 next. Above 1.4840

GBPUSD tests 38.2% retracement at 1.4781 Posted: 22 Jun 2010 05:56 AM PDT GBPUSD testing 38.2% Fibo retracement at 1.4781. Look for some profit taking.  A break, however, will next target 1.4804/11 next

Forex QUICK:USDCAD decision time. Watching 1.0205 support level. Posted: 22 Jun 2010 05:45 AM PDT

Forex QUICK: EURUSD approaches key support at 1.2241 Posted: 22 Jun 2010 05:20 AM PDT

Bobbys Corner-Open Market-June.22.2010 Posted: 22 Jun 2010 05:12 AM PDT Good Morning: German IFO data came out this morning better than expected.  The medium estimate was for a reading of 101.2 and the actual number was 101.8.  This data suggest that the German economy is moving forward on a positive note.  Also of note is that the European debt crisis has not deterred German businesses from focusing on building  up their firms. World Central Bankers are looking to add the Aussie and Loonie as part of their reserve currencies.  Central Bankers are seeking alternatives to the deteriorating sovereign debt issues in Europe, US, and Japan.  The main problem for the bankers is that the bond markets in both Australia and Canada are not as large and liquid as in the US or Europe.  The lack of a large bond market will always keep the Aussie and Loonie a small part of any Central Bank reserve. World equity markets fell, and US Futures are also lower this morning. Oil:$76.70                                            Gold:$1234.20 TIME FOR  EST PRIOR 10:00AM RICHMOND FED MANUFACT.INDEX  JUNE    21.O    26.O 10:00AM EXISTING HOME SALES   MAY   O.4%  -O.1% 10:00AM  HOUSE PRICE INDEX MoM  APRIL   ——   O.3% 10:00AM EXISTING HOME SALES MoM  MAY 7.50% 7.60% HAVE A GREAT DAY & GOOD LUCK

Forex QUICK: Osbornes budget speach has the GBPUSD on the defensive. Watch 1.4710 Posted: 22 Jun 2010 05:02 AM PDT :

NY Opening Forex Commentary is available for viewing Posted: 22 Jun 2010 04:48 AM PDT

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