Forex Market Updates & Commentary

---

• US Non Manufacturing comes in weaker
• EURUSD tests 38.2% Fibo resistance at 1.2871 level
• Forex Morning Report- Sept 3
• USDCAD tests support at 1.0425 level.
• GBPUSD can’t conquer 38.2% retracement and comes back off
• NYU Professor Roubini on the Wires
• EURUSD remains contained between support and resistance
• GBPUSD breaks 200 hour MA…1.5467 next target (38.2% retracement)
• EURUSD using the 38.2% first resistance
• Payrolls Numbers Better as Unemployment Stays the Same
• US Employment better than expected. Revisions better as well
• Bobbys Corner-Open Market-Sept.3.2010
• Market remains contained as the Key Employment Report eyes
• Key Technical Levels to watch through the US Employment Report
• US Nonfarm Payroll & Unemployment Rate Data 8:30AM

US Non Manufacturing comes in weaker Posted: 03 Sep 2010 07:04 AM PDT 51.5 vs expectation of 53.2 Employment comes in at 48.2 vs 50.9 last month New Orders comes in at 52.4 vs 56.7 last month Backlog Index comes in at 50.5 vs 52 last month USDJPY falls below support at 84.80 level. 84.50 next support target.

EURUSD tests 38.2% Fibo resistance at 1.2871 level Posted: 03 Sep 2010 06:39 AM PDT The EURUSD is up testing the 38.% retracement of the move down from the August 6th high to the low on August 24th. That level comes in at the 1.2871 level. The high for the day reached 1.2872 minutes after the NFP report. A break above will target the 1.2900 level where the trendline off recent highs come in.

Forex Morning Report- Sept 3 Posted: 03 Sep 2010 06:30 AM PDT Forex Morning Report- Sept 3

USDCAD tests support at 1.0425 level. Posted: 03 Sep 2010 06:23 AM PDT

GBPUSD can’t conquer 38.2% retracement and comes back off Posted: 03 Sep 2010 05:53 AM PDT The price is back between the trendlines now and down toward the 200 day MA at 1.5427.

NYU Professor Roubini on the Wires Posted: 03 Sep 2010 05:52 AM PDT Roubini Says: US job data extremely mediocre Sees advanced economies growth below potential Eurozone growth ‘weak at best’ U.S.; Japan both at risk of double dip recession Bumpy road for recovery Hopefully we can avoid the double dip recession Fiscal adjustment in spain ‘Not Enough’ US economy slowing Any stimulus in the U.S. wouldnt be meaningful Sees fiscal drag next year of as much as 1.5% of GDP

EURUSD remains contained between support and resistance Posted: 03 Sep 2010 05:49 AM PDT 1.2812 remains support 1.2871 remains resistance. Noise in between.

GBPUSD breaks 200 hour MA…1.5467 next target (38.2% retracement) Posted: 03 Sep 2010 05:46 AM PDT …and trendline.  Looking for increased upside momentum with 1.5468 the next target to get through. The high on Wednesday came in at 1.5488. The close last week was 1.5511 and 50% retracement is 1.5512

EURUSD using the 38.2% first resistance Posted: 03 Sep 2010 05:40 AM PDT The level comes in at 1.2871.  A break above targets the 1.2896 trendline resistance

Payrolls Numbers Better as Unemployment Stays the Same Posted: 03 Sep 2010 05:32 AM PDT Change in Nonfarm Payrolls:         Survey:  -105K          Actual:  -54K          Prior:  -131K      Revision: -54K Change in Manufacturing Payrolls:         Survey: 10K          Actual: -27K           Prior:  36K          Revised: 34K Change in Private Payrolls:         Survey: 40K          Actual: 67K          Prior:  71K          Revised: 107K Unemployment Rate:         Survey:  9.6%          Actual: 9.6%          Prior:  9.5%       Avg Hourly Earning (MoM) All Emp:    Survey:  0.1%          Actual: .3%          Prior:  0.2%          Avg Hourly Earning (YoY) All Emp:    Survey:  1.6%          Actual: 1.7%          Prior:  1.8%       Avg Weekly Hours All Employees:    Survey:  34.2          Actual: 34.2          Prior:  34.2

US Employment better than expected. Revisions better as well Posted: 03 Sep 2010 05:31 AM PDT Non Farm Payroll -54K vs -105 expected. Revision July -54K vs -131K.  -175 in June vs -221 originally Private Payroll 67 vs 40 K expected Revison to 107K from 71K Unemployment Rate 9.6% vs 9.6% expected Revisions are higher for July as well. USDJPY moves higher. Look for support at 84.71-84.80 now.  85.45 next target.

Bobbys Corner-Open Market-Sept.3.2010 Posted: 03 Sep 2010 05:29 AM PDT Good Morning: A fairly quiet night ahead of this morning’s jobs report.   GBP lost ground as UK PMI printed lower than expected.  This data will show that Q3 UK growth will slow, and speculation mounts that Q4 will not fare well. The USD stayed weak-as it has most of the week .  With US data showing weakness for the past few months, today’s jobs data will be widely watched, as it is anticipated that the data will again disappoint market participants. Speculation that the FED will continue to keep interest rates at record lows will keep pressure on the greenback. Asian equity markets were mixed.  European markets are higher and US futures are flat at this time. Oil:$74.41                                            Gold:$1250.10 TIME FOR EST.    PRIOR 8:30A.M. CHANGE IN NONFARM PAYROLLS AUG. -100K -131K 8:30A.M. CHANGE IN PRIVATE PAYROLLS AUG. 41K 71K 8:30A.M. CHANGE IN MANUFACT.PAYROLLS AUG. 10K 36K 8:30A.M. UNEMPLOYMENT RATE AUG. 9.60% 9.50% 8:30A.M. AVG. HOURLY EARNING MoM ALL EMP. AUG. 0.10% 0.20% 8:30A.M. AVG.HOURLY EARNING YoY ALL EMP. AUG. 1.60% 1.80% 8:30A.M. AVG. WEEKLY HOURS ALL EMPOYEES        AUG.     34.2O       34.2O 10:00A.M. ISM NON -MANUF. COMPOSITE AUG. 53.2O        54.3O HAVE A GREAT DAY -WEEKEND & GOOD LUCK

Market remains contained as the Key Employment Report eyes Posted: 03 Sep 2010 05:25 AM PDT GBPUSD Levels to watch USDJPY Levels to watch USDCHF Levels to watch EURJPY Levels to watch USDCAD Levels to watch

Key Technical Levels to watch through the US Employment Report Posted: 03 Sep 2010 04:57 AM PDT

US Nonfarm Payroll & Unemployment Rate Data 8:30AM Posted: 03 Sep 2010 04:55 AM PDT

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

Forex Market Updates & Commentary

---

• NZDUSD double top, but good support at 0.7134
• Low Mortgages spur on Pending Home sales
• Factory Orders a Touch Worse with Pending Home Sales Soaring
• Forex Morning Report- Sept 2
• US Pending Home Sales & Factory Orders due at 10AM
• Trichet raises growth projections. EURUSD rises
• Bobbys Corner-Open Market-Sept.2.2010
• 8:30AM Economic Data Better
• Trichet on the newswires. Key headlines
• US Jobless Claims, Nonfarm Productivity & Unit Labor Costs due at 8:30AM
• Market awaits ECBs Trichet and the weekly Initial Claims
• Eurozone PPI and Revised GDP
• UK Construction PMI
• Swiss Retails Sales y/y

NZDUSD double top, but good support at 0.7134 Posted: 02 Sep 2010 07:13 AM PDT

Low Mortgages spur on Pending Home sales Posted: 02 Sep 2010 07:05 AM PDT This are for contracted sales. They rose 5.2% but are down -20% for the year. The NE rose 6.3% The Midwest rose 4.1% The South 1.2% The West rose 11.6% Better than expected but off a low base. The last two months have shown a -2.8% and -29.9% decline and contracted sales are not closed sales. Nevertheless, the lower rates are stirring some interest from buyers.

Factory Orders a Touch Worse with Pending Home Sales Soaring Posted: 02 Sep 2010 07:02 AM PDT Factory Orders:                           Survey:  0.2%   Actual: 0.1%   Prior: -1.2%  Revised: % Pending Home Sales(MoM):   Survey: -1.0%   Actual: 5.2%   Prior: -2.6%  Revised: % Pending Home Sales(YoY):                    Actual: -20.1%   Prior: -20.1%     Durable goods orders was measured on August 25 with data coming out at 0.30% which is revised with the factory orders report which has came out at 0.10%.   Durable Goods Orders (MoM) 0.30%   3.10%    -0.10%

Forex Morning Report- Sept 2 Posted: 02 Sep 2010 06:35 AM PDT Forex Morning Report- Sept 2

US Pending Home Sales & Factory Orders due at 10AM Posted: 02 Sep 2010 06:27 AM PDT

Trichet raises growth projections. EURUSD rises Posted: 02 Sep 2010 05:56 AM PDT

Bobbys Corner-Open Market-Sept.2.2010 Posted: 02 Sep 2010 05:39 AM PDT Good Morning: A fairly stable overnight session brought no new surprises to the market.  The GBP lost some steam as UK housing showed a larger than expected drop in prices.  EZ data showed that GDP in the region printed at 1%-as expected. The  ECB left key interest rates unchanged, which was expected.  The ECB may keep themselves in “crisis mode” till next year-as the economy is still too fragile to take away any of the stimulus measures that are in place. All eyes will be on Friday morning’s  US jobs data.  Data due out at 8:30 AM Sept. 3. Asian equity markets were higher-Europe is mixed, and US Futures are marginally higher at this time. Oil:$73.49                                        Gold:$1249.50 TIME FOR EST. PRIOR 7:45A.M. ECB RATE DECISION 8:30A.M. ECB PRESS CONFERENCE 8:30A.M. NONFARM PRODUCTIVITY 2QF -1.90% -0.90% 8:30A.M. UNIT LABOR COSTS 2QF 1.20% 0.20% 8:30A.M. INITIAL JOBLESS CLAIMS 28-Aug 475K 473K 8:30A.M. CONTINUING CLAIMS 21-Aug 4440K     4456K 10:00A.M. FACTORY ORDERS JULY 0.30% -1.20% 10:00A.M. PENDING HOME SALES MoM JULY -1.00% -2.60% 10:00A.M. PENDING HOME SLAES YoY     JULY -20.10% 10:30A.M. ICSC CHAIN STORE SALES YoY AUG. 2.80% HAVE A GREAT DAY & GOOD LUCK

8:30AM Economic Data Better Posted: 02 Sep 2010 05:34 AM PDT Nonfarm Productivity:        Survey: -1.9%         Actual:  -1.8%        Prior:  -0.9%        Unit Labor Costs:           Survey: 1.2%         Actual:  1.1%         Prior:  0.2%         Jobless Claims:             Survey: 475K    Actual: 472K    Prior: 473K    Revised: 478K    Continuing Claims:         Survey: 4450K    Actual: 4456K    Prior: 4456K    Revised: 4479K

Trichet on the newswires. Key headlines Posted: 02 Sep 2010 05:33 AM PDT Rates are appriate Expect moderate pace or recovery. Latest data is stronger than expected To extend liquidity operations to January. This is an extension to get over the year end Current policy is accomodative Committed to price stability Emergency measures are temporary in nature 2010 1.4% to 1.8%  from 0.7% to 1.3%. Due to 2nd quarter 2011 0.5% to 2.3% from 0.2% to 2.2%.  INCREASED Risk to infltion are on the upside. Higher commodity prices cited Inflation estimate for 2011 1.2% to 2.2% vs prior est of 1.0% to 2.2% Medium term inflation is contained.

US Jobless Claims, Nonfarm Productivity & Unit Labor Costs due at 8:30AM Posted: 02 Sep 2010 05:01 AM PDT

Market awaits ECBs Trichet and the weekly Initial Claims Posted: 02 Sep 2010 04:55 AM PDT

Eurozone PPI and Revised GDP Posted: 02 Sep 2010 02:21 AM PDT The market was unchanged after Eurozone PPI (m/m) and revised GDP (q/q) both came in as expected with PPI reading 0.2% and GDP reading 1.0%.

UK Construction PMI Posted: 02 Sep 2010 01:33 AM PDT UK Construction PMI came in at 52.1, weaker than the 53.5 expected end 54.1 prior reading. Gbp/Usd off about 15 points since release, currently trading at 2.5387.

Swiss Retails Sales y/y Posted: 02 Sep 2010 12:18 AM PDT The franc traded slightly higher after year over year retail sales beat expectations coming in at 4.8%; better than the 2.3% forecast and prior showing of 1.0%

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

Forex Market Updates & Commentary

---

• ISM Data Higher with Construction Spending Hitting Decade Low
• Forex Morning Report- September 1
• ISM Data Along with Construction Spending due at 10AM
• Forex Webinar this Thursday at 4pm 21:00GMT
• Employment Change Index Negative
• Bobbys Corner-Open Market-Sept.1.2010
• ADP Employment Change Due at 8:15AM
• Webinar rebroadcast from Tuesday August 31st 2010
• Challenger Job cuts come out -54.5% vs a year ago
• Cable Approaching 0.0% Fibo Level
• Eurozone Final Manufacturing PMI
• Swiss SVME PMI
• Aussie Commodity Prices y/y
• German Retail Sales
• 9-1 Economic Calendar

ISM Data Higher with Construction Spending Hitting Decade Low Posted: 01 Sep 2010 07:01 AM PDT ISM Manufacturing:    Survey:  52.8       Actual:  56.3         Prior: 55.5 ISM Prices Paid:    Survey: 55.5         Actual:  61.5          Prior: 57.5 Construction Spending (MoM):     Survey: -0.5%         Actual: -1.0%       Prior:  .1%      Revised: -.8%   Construction spending with lowest number since 2000.

Forex Morning Report- September 1 Posted: 01 Sep 2010 06:23 AM PDT Forex Morning Report- September 1

ISM Data Along with Construction Spending due at 10AM Posted: 01 Sep 2010 06:01 AM PDT

Forex Webinar this Thursday at 4pm 21:00GMT Posted: 01 Sep 2010 05:43 AM PDT Forex Webinar this Thursday at 4pm 21:00GMT Register Here

Employment Change Index Negative Posted: 01 Sep 2010 05:16 AM PDT ADP Employment Change:          Survey:   15K              Actual:   -10              Prior:   42K              Revised:   37   USD/JPY trading lower on the news

Bobbys Corner-Open Market-Sept.1.2010 Posted: 01 Sep 2010 05:11 AM PDT Good Morning: The USD and JPY fell versus all major counterparts, as data from China showed that manufacturing is expanding.  This caused investors to seek higher-yielding assets. The Aussie rose as data showed that their economy grew by the fastest pace in over 3 years. Today we have data on the growth of US manufacturing, and the data is expected to be disappointing. On another note-The Swedish krona rose as data from this Scandinavian country showed that manufacturing expanded for the 15th month in a row. Worldwide equity markets rose on the heels of positive data from China and Australia.  US Futures are up 90 points at this time. Oil: $72.46                                              Gold:$1255.10 TIME FOR EST PRIOR 07:00AM  MBA MORTGAGE APPLICATIONS  AUG 27    ——   4.9O% 07:30AM CHALLENGER JOB CUTS YoY  AUGUST   ——-   -57.2O% 08:15AM ADP EMPLOYMENT CHANGE  AUGUST   15K   42k 10:00AM ISM MANUFACTURING  AUGUST    52.8O  55.5O 10:00AM ISM PRICES PAID  AUGUST  55.3O   57.5O 10:00AM CONSTRUCTION SPENDING MoM   JULY    -O.5%    O.1% HAVE A GREAT DAY & GOOD LUCK

ADP Employment Change Due at 8:15AM Posted: 01 Sep 2010 04:59 AM PDT

Webinar rebroadcast from Tuesday August 31st 2010 Posted: 01 Sep 2010 04:50 AM PDT Why I love the 100 and 200 bar moving average Webinar rebroadcast from Tuesday August 31st 2010 - Watch here

Challenger Job cuts come out -54.5% vs a year ago Posted: 01 Sep 2010 04:35 AM PDT Announced job cuts came in at 34,768.  This was less than last months 41,676 cuts.  The East had 10,048 vs 8113 cuts last month, the Midwest had 7,649 vs 7,465, the West had 11,955 vs 13,971 and the South had 5,116 vs 12,127. The fall is encouraging.  Later today the ADP Employment change will be announced.  The expectation for private employment is for a 15K gains vx 42K last month.  The ADP came in at 42K last month vs 71K from the Labor department.  It tends to understate the actual Labor Dept value.  On Friday, Non Farm Payroll is expected to show a 42 K increase in Private employment (this is less government).  Including the Public Employment change is expected to show a -100K fall. The fall off is largely attributed to census workers being laid off.

Cable Approaching 0.0% Fibo Level Posted: 01 Sep 2010 02:00 AM PDT The GBP/USD pair, which was on an upward trend thus far today, sold off hard after the worse then expected release of the manufacturing PMI. Show on the hourly chart below, a continuation lower could bring the pair back to the 0.0% (1.53240) line on the move from the high on August 30th to the low on August 31st. If we see a pull back, the next target to the upside is the 23.6% fibo line at 1.53828.

Eurozone Final Manufacturing PMI Posted: 01 Sep 2010 01:02 AM PDT The euro gained some strength after final manufacturing PMI came in at 55.1; better than the forecast and prior reading of 55.0. On the back of this release, the EUR made a new session high of 1.2734 against the USD.

Swiss SVME PMI Posted: 01 Sep 2010 12:36 AM PDT Swiss SVME PMI came in at 61.4, weaker than the 65.9 expected and prior reading of 66.9. Usd/Chf and Eur/Chf relatively unchanged, trading at 1.0160 and 1.2910 respectively.

Aussie Commodity Prices y/y Posted: 31 Aug 2010 11:33 PM PDT The AUD traded slightly higher after Australia’s July commodity prices (y/y) came in at 52.7%; better than the prior release of 51.0%. The Aussie dollar is currently trading off session highs against the USD.

German Retail Sales Posted: 31 Aug 2010 11:07 PM PDT German Retail Sales m/m came in at -0.3%, weaker than the 0.6% expected, but inline with prior reading of -0.3%. Market did not react to negative number out of Germany as Eur/Usd makes new high at 1.2717.

9-1 Economic Calendar Posted: 31 Aug 2010 08:50 PM PDT

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