Forex Market Updates & Commentary

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• EURUSD shows the dollar buying nervousness
• Forex Morning Report- Oct 26
• Better 10 AM ET numbers. Consumer confidence and Richmond Fed
• US Consumer Confidence Rises along with House Price Index & Richmond Fed Manufacturing Index
• USDCAD moves higher with the dollar and lower oil
• US Consumer Confidence, House Price Index & Richmond Fed Manufacturing Index Data due at 10AM
• S&P CaseShiller Data Lower
• Home prices fall as per Case Shiller
• EURUSD falls to new lows in slow move down
• NY Opening Forex Commentary: GBP and JPY the focus today
• Bobbys Corner-Open Market-Oct.26.2010
• BOE Sentance on the newswires
• U.K outlook declared stable by S&P; AAA ratings affirmed.
• USD/JPY Finding Some Possible Support at 80.987
• Japanese Officials Giving USD Some Help.

EURUSD shows the dollar buying nervousness Posted: 26 Oct 2010 07:18 AM PDT The EURUSD fell to new lows post the better than expected 10 AM EST numbers but quickly rebounded. The pair still seems nervous on any dollar strength and the price has bounced back to resistance at the 1.3892 area. On the topside the 1.3928 level is the midpoint of the move down from the October 15th high to the October 20th low.  A move above the 1.3900 level will likely look back toward this comfort area.  If the price can remain below the 1.3892 area, this would keep some bullish bias in tact.

Forex Morning Report- Oct 26 Posted: 26 Oct 2010 07:05 AM PDT Forex Morning Report- Oct 26

Better 10 AM ET numbers. Consumer confidence and Richmond Fed Posted: 26 Oct 2010 07:03 AM PDT Richmond Fed comes in at 5 vs 1 expectation Shipments 5 vs 0 last month New Orders 10 vs 9 last month Order Backlog -7 vs 0 last month Capacity Utilization 3 vs -3 last month Vender lead time 8 vs 2 last month Employment 0 vs -7 last month The Consumer confidence rost to 50.2 from 48.6 last month.  The index remains at low levels. It reached a high of 62.7 in May 2010. Present situation rose to 23.9 from 23.3.  The Expectations rose to 67.8 fro 65.5.  In May when the index was at the peak the corresponding values were at 29.8 and 84.6. The USDJPY mad new highs for the day but has come off . Look for sellers against the failed high with stops above. Support remains at 81.12-19

US Consumer Confidence Rises along with House Price Index & Richmond Fed Manufacturing Index Posted: 26 Oct 2010 07:01 AM PDT Consumer Confidence:    Survey: 49.9     Actual: 50.2       Prior: 48.5     Revised: 48.6 House Price Index (MoM):      Survey: -0.2%    Actual:  0.4%     Prior:  -0.5%    Richmond Fed Manufacturing Index:      Survey: 1     Actual: 5       Prior: -2

USDCAD moves higher with the dollar and lower oil Posted: 26 Oct 2010 06:39 AM PDT

US Consumer Confidence, House Price Index & Richmond Fed Manufacturing Index Data due at 10AM Posted: 26 Oct 2010 06:14 AM PDT

S&P CaseShiller Data Lower Posted: 26 Oct 2010 06:05 AM PDT S&P/CaseShiller Home Price Ind:    Actual: 148.59    Prior: 148.91     S&P/CS 20 City (MoM%) SA:              Survey: -0.20%     Actual: -.28     Prior: 0.13%     Revised: -.21 S&P/CS Composite-20 (YOY):           Survey: 2.10%     Actual: 1.70%     Prior: 3.18%

Home prices fall as per Case Shiller Posted: 26 Oct 2010 06:03 AM PDT Yesterday, the Existing Home sales data showed a pretty good fall in the average and median prices for home sales. This data is also showing some weakness. Month on month shows a 0.2% decline. The YoY falls to +1.7% vs 3.18% last month. The USDJPY came off a little on the news but has maintained the bullish bias.

EURUSD falls to new lows in slow move down Posted: 26 Oct 2010 05:53 AM PDT

NY Opening Forex Commentary: GBP and JPY the focus today Posted: 26 Oct 2010 05:27 AM PDT

Bobbys Corner-Open Market-Oct.26.2010 Posted: 26 Oct 2010 05:24 AM PDT Good Morning: I am back from Kuwait and Qatar- and will be in Dubai and Abu Dhabi in 2 weeks-so  the  fall road trip schedule keeps getting busier. The JPY lost some ground overnight as speculation  mounts that the Bank of Japan may reenter the marketplace to keep the Yen weak.  The thought of BOJ intervention put the markets on edge during the Asian session. GBP jumped as GDP in the UK beat analysts estimates-thus putting the governments asset purchase program on hold-as they wait to see how consumers react as the holiday season approaches. Equity markets in Europe are lower-as are US Futures, after UBS announced lower than expected Q3 profits. In the US- Ford announced higher than expected earning-showing that the #2 US automaker has made significant progress in the last 2 years to build up the brand.. DuPont also beat analysts estimates. Oil:$82.06                                                    Gold:$1329.50 TIME FOR EST. PRIOR 9:00A.M. S&P CASESHILLER HOME PRICE IND. AUG. 148.91O 9:00A.M. S&P /CS 20 CITY MoM%SA AUG. -0.20% -0.13% 9:00A.M. S&P CS COMPOSITE -20 YoY AUG. 2.20% 3.18% 10:00A.M. CONSUMER CONFIDENCE OCT. 49.5O 48.5O 10:00A.M. HOUSE PRICE INDEX MoM AUG. -0.20% -0.50% 10:00A.M. RICHMOND FED MANUFACTUR INDEX OCT, O      -2.O HAVE A GREAT DAY & GOOD LUCK

BOE Sentance on the newswires Posted: 26 Oct 2010 05:22 AM PDT Encouraged that growth seems boroad based Construction more than expected Inevitable will see growth rates variation Inflation a bit of a worry Mismatch between Rates and inflation Should curb stimulus and do gradual rate hike Sentances comments should be bullish for the GBPUSD. However, the reaction by the market has so far been muted.

U.K outlook declared stable by S&P; AAA ratings affirmed. Posted: 26 Oct 2010 03:21 AM PDT The GBP traded higher following the release.

USD/JPY Finding Some Possible Support at 80.987 Posted: 26 Oct 2010 02:56 AM PDT The pair, with this hourly candlestick, has tested the 80.987 level which has show support four times since Oct 21st. If support holds, we have the 61.8% line at 81.084 and the 200 hour moving average at 81.207

Japanese Officials Giving USD Some Help. Posted: 26 Oct 2010 02:36 AM PDT Japanese officals are issuing warnings about the strength of the Yen, which is helping to push the USD higher.

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Forex Market Updates & Commentary

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• Details of the better Existing Home Sales
• ECB says it bought no bonds last week
• NY Morning Commentary:Dollar maintains bearish bias in NY trade
• EURUSD weakens toward 1.4000 support level
• BOE Tucker on wires
• Chicago Fed National Activity Index Falls
• Bernanke comments do not address the economy or monetary policy
• FOMC Bernanke speaking at 8:30 AM NYT
• US Chicago Fed National Activity Index Data at 8:30AM
• NY Opening Forex Commentary: G20 out of the way, dollar sells off
• Eurozone Industrial New Orders
• Bristish Bankers Association Mortgage Approvals
• Lagarde; G-20 decided to avoid currency war
• Blanchflower on the wires
• Eur/Usd runs into hourly resistance

Details of the better Existing Home Sales Posted: 25 Oct 2010 07:04 AM PDT Annualized sales pace rose to 4.53 M vs 4.3M expectations This is the highest level since June 2010 The month supply fell to 10.7 months from 12.0 months. The Median Sale price fell sharply to $171,700 from $177,500, this is down 2.4% YoY and suggests the increased sales are coming at the expense of lower prices The Average Sale Price also declined to $218,200 from $226,00i and is now down -1.7% for the year. So although the sales pace is better, the details are not so great

ECB says it bought no bonds last week Posted: 25 Oct 2010 06:35 AM PDT The bond purchases totaled EU 63.5 billion as of October 22nd. Thiis is in sharp contrast to the US bond purchases and one of the main contributors to the dollar weakness against the EURO

NY Morning Commentary:Dollar maintains bearish bias in NY trade Posted: 25 Oct 2010 06:10 AM PDT

EURUSD weakens toward 1.4000 support level Posted: 25 Oct 2010 05:56 AM PDT

BOE Tucker on wires Posted: 25 Oct 2010 05:34 AM PDT Says BOE mandate is to ensure UK avoids recession and that the headwinds remain reasonably strong.  He notes that the rebalancing of the UK economy is happening but notes that credit conditions are still too tight for comfort.

Chicago Fed National Activity Index Falls Posted: 25 Oct 2010 05:34 AM PDT Chicago Fed National Activity-   Survey:  -0.30   Actual: -0.58      Prior:-0.53     Revised:

Bernanke comments do not address the economy or monetary policy Posted: 25 Oct 2010 05:32 AM PDT Fed concerned about foreclosure Evaluating foreclosure impact on housing and the banks He does not discuss the outlook for the economy or monetary policy

FOMC Bernanke speaking at 8:30 AM NYT Posted: 25 Oct 2010 05:02 AM PDT He is on tap to give the opening remarks at FDIC forum. Any comments that the Fed Chairman makes up until the FOMC rate decision will be scrutinized by the market. The thought is the Fed will engage in a minimum of 500 billion to start. Goldman Sachs this weekend expects upwards of 2 trillion will be ultimately needed to stimulate the US economy, decrease employment and keep inflation on a upward track. Later at 10:00 US Existing Home Sales will be released. The expectation is for a rise to an annualized pace of  4.3M.   The months supply of homes will be eyed as well. Last month the supply dipped back down to 11.6 months from a record 12.5 months in July when the sales pace fell to an anemic 3.84M annualized.  The median sale price came in at $178,600 ino August (+0.8% YoY) while the average price was $228,700 (+2.9% YoY).

US Chicago Fed National Activity Index Data at 8:30AM Posted: 25 Oct 2010 05:01 AM PDT The Chicago Fed National Activity Index is very useful information of the most recent state of the economic activity and inflationary pressures in the United States. Chicago Fed National Activity-   Survey:  -0.30   Actual:       Prior:-0.53     Revised:

NY Opening Forex Commentary: G20 out of the way, dollar sells off Posted: 25 Oct 2010 04:53 AM PDT

Eurozone Industrial New Orders Posted: 25 Oct 2010 02:02 AM PDT Eurozone Industrial New Orders m/m came in at 5.3%, stronger than the 2.1% expected and prior reading of -2.1%. Eur/Usd rose 10 pips on news thus far , trading at 1.4042.

Bristish Bankers Association Mortgage Approvals Posted: 25 Oct 2010 01:36 AM PDT BBA Mortgage Approvals came in at 31,100, weaker than the 31,600 expected and prior reading of 31,800. Gbp/Usd currently trades at 1.5737.

Lagarde; G-20 decided to avoid currency war Posted: 24 Oct 2010 11:46 PM PDT Eur/Usd made new high of 1.4070.

Blanchflower on the wires Posted: 24 Oct 2010 11:43 PM PDT Former BoE policy maker David Blanchflower comments on G-20 meeting. * doesn’t expect China to let Yuan appreciate * sees U.K. GDP at 0.4% in 3rd Q and 2nd Q to be lowered

Eur/Usd runs into hourly resistance Posted: 24 Oct 2010 10:43 PM PDT Eur/Usd is trading just beneath the 1.4045-50 level which has acted as good hourly resistance in recent tradding. If the pair breaks through a run to 1.4100 is likely. If Eur/Usd holds a pullback to 1.3980-85 (61.8% Fibo) is possible.

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Forex Market Updates & Commentary

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• Technical Review of the Major Currency Pairs
• Key Events and Releases for October 25th week
• Forex Webinar Tuesday October 26th 2010 Register
• Forex Midday Report- October 22- Special Report
• GBPUSD tests the weeks lows as London exits
• USDJPY making strides to the upside

Technical Review of the Major Currency Pairs Posted: 22 Oct 2010 03:03 PM PDT

Key Events and Releases for October 25th week Posted: 22 Oct 2010 01:24 PM PDT

Forex Webinar Tuesday October 26th 2010 Register Posted: 22 Oct 2010 12:51 PM PDT Forex Webinar Tuesday October 26th 2010 Register Now

Forex Midday Report- October 22- Special Report Posted: 22 Oct 2010 09:35 AM PDT Forex Midday Report- October 22- Special Report with a candid discussion on relevance of having a clear long term strategy. Greg Michalowski and Shawn Powell also compare a similar mission statement from Blackstone Group.

GBPUSD tests the weeks lows as London exits Posted: 22 Oct 2010 08:19 AM PDT

USDJPY making strides to the upside Posted: 22 Oct 2010 08:11 AM PDT

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Forex Market Updates & Commentary

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• EURUSD: Is it OK to not be sure of trading direction?
• Forex Morning Report- October 22
• Canada Retail Sales stronger. USDCAD falls
• Canada Retail Sales Improve
• Rebroadcast of FXDD Webinar October 21 2010
• NY Opening Forex Commentary:G20 the focus. Risk increased
• Canada Retail Sales Data at 8:30AM
• CAD core CPI slightly worse at 0.2% and m/m CPI as expected at 0.2%
• Canadian CPI at 7 am est
• Loonie running into hourly resistance
• Euro falls following Sentance comments..
• Euro firmer after better German IFO
• Euro Testing Support at 1.3892
• Coming up at 4 am EST
• USD/JPY Tests Old Support at 80.98

EURUSD: Is it OK to not be sure of trading direction? Posted: 22 Oct 2010 07:14 AM PDT   The EURUSD chart is telling me that it is unsure of direction. Moves above and below support and resistance are being rejected.  Traders are using levels/areas from past extremes and buying or selling against the levels.  There are lots of fundamental opinions being weighed on the business news.  The G20 meeting comments are likely feared.  What is certain, is the market is likely unsure of the direction (or perhaps the risks).  Otherwise, the buyers or sellers would wrestle control and push the market in a trending direction. That is not happening.  So we wait and be patient.  That is ok.  It is called consolidation/correcting and usually comes after a sharp trend type move.  Trends transition to non trends and that is what we are now in.  That trend prior to this period, took the EURUSD from 1.2643 to the high of 1.4158 from September 10th to October 15th.   That is 1515 pips.  That is a nice trend. Put the market in perspective. Follow the clues from the charts and prepare for the directional clues that the market will give - eventually. It will break, but for now it is ok to not be sure of the trading direction.  The market moves are telling you that you are not alone.

Forex Morning Report- October 22 Posted: 22 Oct 2010 06:55 AM PDT Forex Morning Report- October 22

Canada Retail Sales stronger. USDCAD falls Posted: 22 Oct 2010 05:34 AM PDT The 1.0242 level is the 100 hour MA. The price needs to breach the 38.2% retracement to keep the bearish bias . Then the 1.0205 level which has been a key level for the pair (was the original low spike low from October 2009).  Failure to move below these levels will likely disappoint traders who are looking for at trend like move.

Canada Retail Sales Improve Posted: 22 Oct 2010 05:32 AM PDT Retail Sales:       Survey: -0.1%        Actual: .5%       Prior:  -0.1%        Revised: 0.1% Retail Sales Less Autos (MoM):      Survey: 0.5%       Actual:  0.4%     Prior:  -0.4%     Revised: -0.2%

Rebroadcast of FXDD Webinar October 21 2010 Posted: 22 Oct 2010 05:20 AM PDT Rebroadcast of FXDD Webinar from October 21 2010. Click here to watch

NY Opening Forex Commentary:G20 the focus. Risk increased Posted: 22 Oct 2010 05:16 AM PDT

Canada Retail Sales Data at 8:30AM Posted: 22 Oct 2010 04:58 AM PDT

CAD core CPI slightly worse at 0.2% and m/m CPI as expected at 0.2% Posted: 22 Oct 2010 04:01 AM PDT

Canadian CPI at 7 am est Posted: 22 Oct 2010 03:53 AM PDT

Loonie running into hourly resistance Posted: 22 Oct 2010 02:23 AM PDT USD/CAD traded lower until it hit the 100 hour moving average at 1.0234 and has traded continually upward until it reached the 61.8% retracement line on the move from 19th highs to yesterday’s lows. The pair tested 1.03011 twice today; lower target at 50.0% - 1.0270.

Euro falls following Sentance comments.. Posted: 22 Oct 2010 01:24 AM PDT Following the rise in the value of the euro after the better than expected German Ifo release, there was a hard selling of the euro (and GBP) following a headline from the BOE’s Sentance that it is understandable that people are nervous about the recovery.

Euro firmer after better German IFO Posted: 22 Oct 2010 01:01 AM PDT Euro higher all over after German Ifo business climate came in at 107.6 and Italian retail sales as expected at 0.0% IFO’s Nerb followed the release with comments that cosumption will pick up as wages rise and the manufacturing industry can manage through the currency storms - exports concintrated in investment goods.

Euro Testing Support at 1.3892 Posted: 22 Oct 2010 12:46 AM PDT EUR/USD, which has been trading continually lower the past two hours is testing 1.3892; a support level from earlier in the week and is trading in the area of the 100 hour moving average at 1.3900. A solid move through this line may bring us to the 100.0% line at 1.3871.

Coming up at 4 am EST Posted: 22 Oct 2010 12:37 AM PDT

USD/JPY Tests Old Support at 80.98 Posted: 22 Oct 2010 12:27 AM PDT Seen below, USD/JPY finds a low of 80.99 for this session which is a support level tested multiple times this week.

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Forex Market Updates & Commentary

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• EURUSD moves higher on light trade. Back above 1.4004
• Philly Fed a touch better (Components), Leading indicators moderate gain
• US Leading Indicators Stay the Same as Philadelphia Fed Turns Lower
• US Leading Indicators Along with Philadelphia Fed at 10AM
• NY Morning Forex Commentary. Dollar turns neutral
• GBPUSD at key technical level. It needs a shove one way or the other
• EURUSD back below 1.4000
• Forex Morning Report- Oct 21
• Canada Leading Indicators Drop
• US Jobless Claims Decrease as Continuing Claims go Slightly Higher
• NY Opening Commentary: Geithner, China, and the strong EURO (weak GBP and USD)
• US Jobless Claims & Continuing Claims to be Released at 8:30AM
• Canada Leading Indicators Data at 8:30AM
• UK Retail Sales
• Eurozone Flash PMI

EURUSD moves higher on light trade. Back above 1.4004 Posted: 21 Oct 2010 07:19 AM PDT

Philly Fed a touch better (Components), Leading indicators moderate gain Posted: 21 Oct 2010 07:08 AM PDT

US Leading Indicators Stay the Same as Philadelphia Fed Turns Lower Posted: 21 Oct 2010 07:01 AM PDT Philadelphia Fed:     Survey: 2.0      Actual: 1.0       Prior:  -0.7 Leading Indicators:    Survey: 0.3%     Actual:  0.3%    Prior:  0.3%    Revised 0.1%

US Leading Indicators Along with Philadelphia Fed at 10AM Posted: 21 Oct 2010 06:22 AM PDT

NY Morning Forex Commentary. Dollar turns neutral Posted: 21 Oct 2010 06:20 AM PDT

GBPUSD at key technical level. It needs a shove one way or the other Posted: 21 Oct 2010 06:00 AM PDT

EURUSD back below 1.4000 Posted: 21 Oct 2010 05:51 AM PDT

Forex Morning Report- Oct 21 Posted: 21 Oct 2010 05:50 AM PDT Forex Morning Report- Oct 21

Canada Leading Indicators Drop Posted: 21 Oct 2010 05:36 AM PDT Canada leading indicators fall to -.1% vs. a projected 0.2%, with prior indicators showing 0.5% and a revision of .6%

US Jobless Claims Decrease as Continuing Claims go Slightly Higher Posted: 21 Oct 2010 05:31 AM PDT Jobless Claims:     Survey: 455K    Actual: 452K    Prior: 462K    Revised: 475K    Continuing Claims:      Survey: 4420K    Actual: 4441K    Prior: 4399K    Revised: 4450K

NY Opening Commentary: Geithner, China, and the strong EURO (weak GBP and USD) Posted: 21 Oct 2010 05:04 AM PDT

US Jobless Claims & Continuing Claims to be Released at 8:30AM Posted: 21 Oct 2010 04:56 AM PDT

Canada Leading Indicators Data at 8:30AM Posted: 21 Oct 2010 04:52 AM PDT

UK Retail Sales Posted: 21 Oct 2010 01:41 AM PDT UK Retail Sales came in at -0.2%, weaker than the 0.4% expected. Under normal circumstances Gbp should be sold on the heels of this data. In this case traders see this bad economic data as further support for QE thus lessening the affect to the currency. Gbp/Usd trades at 1.5795.

Eurozone Flash PMI Posted: 21 Oct 2010 01:09 AM PDT Eurozone Manufacturing PMI came in at 54.1, stronger than the 53,2 expected. Services PMI came in at 53.2, weaker than the 53.8 expected. Eur/Usd continues to make new highs as the pair currently trades at 1.4033.

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