Forex Market Updates & Commentary

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• Forex Quick: USD/CAD profit taking as US data better.
• US Consumer Confidence and Richmond Fed Fall Slightly
• Forex Quick: EUR/USD US pushes the pair lower
• Consumer Confidence & Richmond Fed Manufacturing Data due at 10AM
• FXDD Live Training Saturday July 31 2010 Los Angeles CA with Greg Michalowski
• Forex Morning Report- July 27
• US S&P CaseShiller Data Better Across the Board
• Bobbys Corner-Open Market-July.27.2010
• US S&P CaseShiller Home Price Index Due at 9AM
• UK CBI Realized Sales
• Eurozone M3 Money Supply y/y
• CHF weakens dramatically
• Loonie Finding Some Support Around 1.0306
• Swiss UBS Consumption Indicator
• GfK German Consumer Climate/ Import Prices

Forex Quick: USD/CAD profit taking as US data better. Posted: 27 Jul 2010 07:09 AM PDT Forex Quick: USD/CAD profit taking as US data better.

US Consumer Confidence and Richmond Fed Fall Slightly Posted: 27 Jul 2010 07:03 AM PDT

Forex Quick: EUR/USD US pushes the pair lower Posted: 27 Jul 2010 06:40 AM PDT Forex Quick: EUR/USD US pushes the pair lower

Consumer Confidence & Richmond Fed Manufacturing Data due at 10AM Posted: 27 Jul 2010 06:38 AM PDT

FXDD Live Training Saturday July 31 2010 Los Angeles CA with Greg Michalowski Posted: 27 Jul 2010 06:20 AM PDT CLICK HERE TO REGISTER Date: Saturday, July 31st Location: Los Angeles Airport Marriott 5855 West Century Boulevard Los Angeles, California 90045 Directions: http://www.marriott.com/hotels/maps/travel/laxap-los-angeles-airport-marriott/ Any questions, feel free to contact me at greg@fxdd.com

Forex Morning Report- July 27 Posted: 27 Jul 2010 06:15 AM PDT Forex Morning Report- July 27

US S&P CaseShiller Data Better Across the Board Posted: 27 Jul 2010 06:01 AM PDT S&P/CaseShiller Home Price Ind:    Survey:      Actual: 146.43      Prior: 144.56    Revised: 144.59     S&P/CS 20 City (MoM%) SA:              Survey:  0.20%     Actual: .47%     Prior:  0.44%     Revised: .61% S&P/CS Composite-20 (YOY):           Survey:  3.85%     Actual:  4.61%     Prior:  3.81%   Revised: 3.83%

Bobbys Corner-Open Market-July.27.2010 Posted: 27 Jul 2010 05:13 AM PDT Good Morning: It was a choppy active overnight session-as EUR/USD traded either side of 1.30-but finally settled into the mid 1.30s.  GBP/USD also bounced around the 1.55 level. The JPY and CHF were lower as evidence that the global recovery is gaining traction led investors to seek higher-yielding assets. Today’s report on US Consumer Confidence is expected to be lower than last month-showing that US consumer’s are not ready to open their wallets all the way yet.  There is still concern about jobs, uncontrollable deficit spending along with the potential for increased taxes. All these obstacles are weighing heavily on the US consumer. Asian equity markets were mixed-Europe is higher-and US Futures are up at this time. Oil:$79.36                                              Gold:$1184.10 TIME FOR  EST PRIOR 9:00A.M. S&P /CASESHILLER HOME PRICE IND. MAY 144.56. 9:00A.M. S&P CS 20 CITY MoM% SA MAY 0.15% 0.44% 9:00A.M. S&P /CS COMPOSITE -20 YoY MAY 3.85% 3.81% 10:00A.M. RICHMOND FED MANUFACT . INDEX JULY  11.O 23.O 10:00A.M. CONSUMER CONFIDENCE JULY  51.O 52.9O HAVE A GREAT DAY & GOOD LUCK

US S&P CaseShiller Home Price Index Due at 9AM Posted: 27 Jul 2010 04:58 AM PDT

UK CBI Realized Sales Posted: 27 Jul 2010 03:03 AM PDT CBI Realized Sales came in at 33, much stronger than the 2 expected and prior reading of -5. Gbp/Usd got a 25 point boost on news as the pair trades at 1.5505.

Eurozone M3 Money Supply y/y Posted: 27 Jul 2010 01:02 AM PDT Eurozone June M3 money supply came in at 0.2%; slightly better than the survey of -0.1% and prior showing of -0.2%.  Private loans (y/y) were 0.3% versus the 0.2% estimate and 0.2% prior reading.

CHF weakens dramatically Posted: 27 Jul 2010 12:58 AM PDT The Swiss Franc has weakened dramatically in recent trade and the Swiss National Bank has declined to comment. Eur/Chf has traded up to 1.3700, a new monthly high, and Usd/Chf to 1.0555.

Loonie Finding Some Support Around 1.0306 Posted: 27 Jul 2010 12:34 AM PDT The USD/CAD pair is testing the 1.0306 level for the second time this trading session with the low being 1.0302. As shown on the 4 hour chart below, 1.0306 was a level of support several times from July 9th to July 15th. If support holds, the target to the upside is 1.0348; the 23.6% fibo line on the move from the July 21st high to yesterday’s low. However, if the pair can close below this level it may be a bearish signal that the pair will trade lower..

Swiss UBS Consumption Indicator Posted: 26 Jul 2010 11:05 PM PDT The Swiss UBS conumption indicator was 1.81; higher than the previous release of 1.74. The franc is currently trading at session lows against the USD.

GfK German Consumer Climate/ Import Prices Posted: 26 Jul 2010 11:03 PM PDT Germany’s GfK consumer climate rose to 3.9 from 3.5 the prior month; better than the survey of 3.6. Additionally, German import prices (m/m) came in at 0.9% versus the forecast of 0.7% and prior showing of 0.6%. Currently, the EUR trades off session highs against the USD.

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Forex Market Updates & Commentary

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• FOREX QUICK: USD/CHF testing key moving averages
• US New Home Sales Data Unexpectedly Rises
• Forex Morning Report- July 26th
• US New Home Sales Data 10AM
• Free Forex Webinar Tuesday July 27th 4pm
• FOREX QUICK: EUR/USD JULY 26 2010 LONG TERM
• Bobbys Corner-Open Market-July.26.2010
• FOREX QUICK: USING FIBONACCI TOOLS
• Usd/Jpy below 200 hour M/A
• Once bearish financial institutions turn into Euro bulls
• 7-26 Economic Calendar
• Aussie PPI q/q
• Japanese Trade Balance

FOREX QUICK: USD/CHF testing key moving averages Posted: 26 Jul 2010 07:08 AM PDT FOREX QUICK: USD/CHF testing key moving averages

US New Home Sales Data Unexpectedly Rises Posted: 26 Jul 2010 07:04 AM PDT June New Home sales in the U.S. rise 24% to 330, 000 annual price, this is the largest percentage rise since may of 1980. USD/JPY trading higher on the news.

Forex Morning Report- July 26th Posted: 26 Jul 2010 06:30 AM PDT Forex Morning Report- July 26th

US New Home Sales Data 10AM Posted: 26 Jul 2010 06:07 AM PDT

Free Forex Webinar Tuesday July 27th 4pm Posted: 26 Jul 2010 05:50 AM PDT Free Forex Webinar Tuesday July 27th, 4pm New York Time. Shawn Powell will be teaching a special class on trading targets. Reserve your Webinar seat now at: https://www1.gotomeeting.com/register/598171273

FOREX QUICK: EUR/USD JULY 26 2010 LONG TERM Posted: 26 Jul 2010 05:40 AM PDT FOREX QUICK: EUR/USD JULY 26 2010 LONG TERM

Bobbys Corner-Open Market-July.26.2010 Posted: 26 Jul 2010 05:13 AM PDT Good Morning: The JPY  rose as it benefited from a pick  up in risk aversion from the markets in general.  GBP stayed strong after Friday’s better than expected growth data, moving the pair into the 1.55 handle. The euro stayed firm after Friday’s stress test results from the regions banks.  Only 7 out of 91 banks tested are in need of obtaining additional capital. Asian equity markets were higher-European markets have given up earlier gains and are now in negative territory. US Futures are also lower at this time. Even with the results from the Euro Zone’s bank stress test being better than expected-the concern that global economic growth is slowing is going to weigh heavily on the markets.  Concerns that continued weak data out of the US will drive investors to look for alternative regions to invest in. Oil:$78.52                                                    Gold:$1188.80 TIME FOR  EST PRIOR 8:30A.M. CHICAGO FED NAT. ACTIVITY INDEX JUNE O.21 10:00A.M. NEW HOME SALES  JUNE 320K 300K 10:00A.M. NEW HOME SALES MoM JUNE 6.70% -32.70% 10:30A.M. DALAS FED MANF. ACTIVITY JULY -4.00% HAVE A GREAT DAY & GOOD LUCK

FOREX QUICK: USING FIBONACCI TOOLS Posted: 26 Jul 2010 05:05 AM PDT FOREX QUICK: USING FIBONACCI TOOLS IN METATRADER 4 by Shawn Powell

Usd/Jpy below 200 hour M/A Posted: 26 Jul 2010 12:50 AM PDT Usd/Jpy has been under some pressure the last couple of  hours and has pushed below its 200 hour M/A of  87.30. If it holds below the pair should test its 100 hour M/A at 87.08. More support can be found at 86.74, an area of past hourly lows. If the pair holds a  move back up to 87.67 is likely.

Once bearish financial institutions turn into Euro bulls Posted: 25 Jul 2010 11:40 PM PDT Many financial institutions have been raising there outlook on the Eur/Usd. BNP Paribas scaled back its forecast for a decline in the euro on July 23, saying it will fall to $1.12 in the first quarter, from a previous prediction of parity. Wells Fargo raised its six-month euro forecast to $1.24 from $1.20 citing the main positives for the euro have been stronger-than- expected euro economic numbers and a recovery in risk appetite. Weaker U.S growth forecasts have added to the recent strength of the Eur/Usd pair as seen by Golman Sachs who reversed there outlook on the pair twice in 2 months. The New York- based bank says the shared currency will reach $1.22 in three months, $1.35 in six months and $1.38 in a year. The euro bears turning bullish, only time will tell if they are correct.

7-26 Economic Calendar Posted: 25 Jul 2010 09:18 PM PDT

Aussie PPI q/q Posted: 25 Jul 2010 06:57 PM PDT The AUD traded lower after Australina PPI came in at 0.3%; worse than the survey of 1.2% and prior showing of 1.0%.

Japanese Trade Balance Posted: 25 Jul 2010 05:29 PM PDT The market showed a limited reaction to Japan’s June trade balance which came in at 0.46T versus the forecast of 0.54T and prior reading of 0.32T.

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Forex Market Updates & Commentary

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• Los Angeles Forex Seminar, Saturday, July 31st
• Forex Weekend Commentary: USDCAD consolidates long term. A bit bearish shorter term
• Weekend Forex Commentary:USDJPY trades in narrow range for the week. Prelude to a breakout next week?
• Weekend Forex Commentary: Strong UK GDP sends GBPUSD higher
• Weekend Forex Commentary: EURUSD ending week on a positive note after up and down day
• ECB Executive Summary of the Stress Test results
• Forex Midday Report- July 23
• EURUSD trades key technical ranges post the stress test as market digests the news
• All German Banks pass except Hypo Real Estate
• EURUSD squeezes higher toward comfort area as noon NYT result awaited
• Spain on the Newswires
• GBPUSD falls in sympathy with the EURUSD but rebounds. Tests intraday resistance

Los Angeles Forex Seminar, Saturday, July 31st Posted: 23 Jul 2010 01:27 PM PDT I will be conducting a FREE Forex Trading seminar in Los Angeles on Saturday, July 31st at the Los Angeles Airport Marriott  In Part I, I will look to lay the foundation for successful forex trading.  Traders tend not to pay attention to this important pre-requisite for success as a trader.  I will look to get you on the right track. Part II , I will look to work through current trading opportunities and teach how you can better anticipate trends, trade on the trend, define risk, reduce fear, and exit with a purpose.  You will need to pre-register and space will be limited. Below are the details and registration link. Kind regards, Greg Michalowski CLICK HERE TO REGISTER Date: Saturday, July 31st Location: Los Angeles Airport Marriott 5855 West Century Boulevard Los Angeles, California 90045 Directions: http://www.marriott.com/hotels/maps/travel/laxap-los-angeles-airport-marriott/ Any questions, feel free to contact me at greg@fxdd.com   Hope to see you in LA!

Forex Weekend Commentary: USDCAD consolidates long term. A bit bearish shorter term Posted: 23 Jul 2010 01:09 PM PDT

Weekend Forex Commentary:USDJPY trades in narrow range for the week. Prelude to a breakout next week? Posted: 23 Jul 2010 12:40 PM PDT

Weekend Forex Commentary: Strong UK GDP sends GBPUSD higher Posted: 23 Jul 2010 12:27 PM PDT

Weekend Forex Commentary: EURUSD ending week on a positive note after up and down day Posted: 23 Jul 2010 12:13 PM PDT

ECB Executive Summary of the Stress Test results Posted: 23 Jul 2010 10:41 AM PDT Executive Summary: http://stress-test.c-ebs.org/documents/Summaryreport.pdf Press Release: http://stress-test.c-ebs.org/documents/CEBSPressRelease.pdf

Forex Midday Report- July 23 Posted: 23 Jul 2010 09:30 AM PDT Forex Midday Report- July 23

EURUSD trades key technical ranges post the stress test as market digests the news Posted: 23 Jul 2010 09:29 AM PDT

All German Banks pass except Hypo Real Estate Posted: 23 Jul 2010 09:02 AM PDT This was leaked. Deutche Bank falls to 9.7% of shock. Still above baseline and ok Bank of Ireland to raise 2.66 EURO billion to pass by end of year All 5 Italian Banks Pass French Banks would have 9.3% Tier 1 capital in worst case (Banque of France) National Bank of Greece Passes with 7.4% of Tier 1 capital 5 Spanish banks reported to have failed 7 of 91 bankis have failed the test EURUSD positive after results on first move after test results. All pass The questions are “Does it tell enough? Is it credible? Does the market believe it?”

EURUSD squeezes higher toward comfort area as noon NYT result awaited Posted: 23 Jul 2010 08:41 AM PDT

Spain on the Newswires Posted: 23 Jul 2010 07:54 AM PDT Five Spanish savings bank groups fail stress test.

GBPUSD falls in sympathy with the EURUSD but rebounds. Tests intraday resistance Posted: 23 Jul 2010 07:47 AM PDT

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Forex Market Updates & Commentary

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• Stress test methodology being leaked to the market
• Forex Morning Report- July 23
• EU on the Newswires
• Feeling Stressed? Eurozone Stress Test raises traders pressure
• Forex QUICK: USDJPY making a break to the upside
• The NY Opening Forex Commentary for July 23rd is available for trading
• Canada CPI
• UK Prelim GDP q/q
• Gonzalez-Paramo on the wires…
• Abberger Comments…
• Italian Retail Sales m/m
• German Ifo Business Climate
• Euro Falls After Several Spanish Savings Banks Fail Stress Tests
• 7-23 Economic Calendar
• Aussie Q2 Import/Export Prices

Stress test methodology being leaked to the market Posted: 23 Jul 2010 06:36 AM PDT

Forex Morning Report- July 23 Posted: 23 Jul 2010 06:30 AM PDT Forex Morning Report- July 23

EU on the Newswires Posted: 23 Jul 2010 06:14 AM PDT EU stress test said limited to bank ‘trading book losses’

Feeling Stressed? Eurozone Stress Test raises traders pressure Posted: 23 Jul 2010 06:02 AM PDT

Forex QUICK: USDJPY making a break to the upside Posted: 23 Jul 2010 05:34 AM PDT

The NY Opening Forex Commentary for July 23rd is available for trading Posted: 23 Jul 2010 04:31 AM PDT

Canada CPI Posted: 23 Jul 2010 04:08 AM PDT Canadian CPI came in at -0.1% versus the forecast of 0.0% and prior reading of 0.3%. Core CPI was -0.1%; worse than the survey of 0.1% and prior showing of 0.3%

UK Prelim GDP q/q Posted: 23 Jul 2010 01:34 AM PDT The GBP made new highs against all of the major currencies following the release of better than expected Q2 prelim GDP which read 1.1% versus the forecast of 0.6% and previous reading of 0.3%. The following additional data was also released: BBA Mortgage Approvals - Survey: 37.0K   Actual: 34.8K   Prior: 36.7K Index of Services 3m/3m - Survey: 0.7%   Actual: 0.8%   Prior: 0.6%

Gonzalez-Paramo on the wires… Posted: 23 Jul 2010 01:18 AM PDT The ECB’s Gonzlaz-Paramo believes that inflation expectations remain firmly anchored and that it is crucial in the current situation to adopt credible budgetary adjustment plans to give markets, and people confidence. Bank stress test will help dissipate uncertainty on the conditions of Europe’s banks.

Abberger Comments… Posted: 23 Jul 2010 01:15 AM PDT The IFO’s Abberger made these comments following the German IFO release: Improvement is coming in all sectors including construction and trade. Drinks sector has benefitted from the heat wave and world cup. There are signs however that the economy could be more subdued in the second half of the year. Job cutting has been ceasing. Strong euro forex swings are proving difficult for firms, but export optimism is similar to previous month’s level. Main interest rate is at a proper level in view of austerity plans in Europe.

Italian Retail Sales m/m Posted: 23 Jul 2010 01:03 AM PDT Italian retail sales for June were -0.3% versus the survey of 0.2% and prior reading of -0.3%.

German Ifo Business Climate Posted: 23 Jul 2010 01:01 AM PDT The euro traded higher after Germany’s June Ifo business climate came in at 106.2; better than the forecast of 101.5 and prior reading of 101.8.

Euro Falls After Several Spanish Savings Banks Fail Stress Tests Posted: 22 Jul 2010 11:05 PM PDT After testing the 100% retracement level on the move from the high to the low on July 21st, the euro has weakened after it was released that several Spanish savings banks have failed the stress test. Shown on the chart below, the pair made a full retracement yesterday but could not close above. After retreating, it has tested the 1.2913 level multiple times. Currently, the EUR/USD is trading around the 1.2870 level which is a support level from the beginning of the week. If the downward momentum continues, we may see the pair reach the 61.8% line at 1.2844.

7-23 Economic Calendar Posted: 22 Jul 2010 09:08 PM PDT

Aussie Q2 Import/Export Prices Posted: 22 Jul 2010 06:40 PM PDT The 2nd quarter Export Price Index came in above expectations, as did the Import Prices; the AUD initially gained mild bid on this inflationary release. Import Price Index (QoQ) - Survey:1.0%   Actual:1.9%   Prior:0.3% Export Price Index (QoQ) - Survey:13.5%   Actual:16.1%   Prior:3.8%

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