My latest forex video at the FXCM Las Vegas conference: http://forexforums.dailyfx.com/sean-...tml#post542979

Biggest % gainers: USD/ZAR up 0.77%, GBP/AUD, GBP/CHF, USD/CAD, GBP/USD on GBP strength and commodity currency weakness.

Biggest % losers: CAD/JPY down 0.86%, AUD/JPY, NZD/JPY, EUR/JPY, CHF/JPY on JPY strength and commodity currency weakness.

Gold $1,207
Oil $76.72

NZD Retail Sales m/m came out worse than expected last night, weighing on the commodity currencies this morning.

French Bank Holiday today...in observance of National Day.

GBP Claimant Count change better at -20.8K vs. -20.1K expected and -31.1K last time.

EUR CPI y/y in line at 1.4% as expected and same as last time.

USD Core Retail Sales m/m in line at -0.1%. Last time was revised even worse to -1.2% vs. -1.1% expected.

USD Retail Sales m/m worse than expected at -0.5% vs. -0.2% expected. Last time was revised higher to -1.1% vs. -1.2% formerly.

China's CPI and GDP come out tonight around 10pm EST. Their Industrial Production and PPI also come out tonight too at the same time.

JPY Interest Rates come out tonight, no specific time for the announcement. Expectation is to be unchanged at 0.10%. They will also have a press conference too, no specific time on that either.

Rumors flying this morning about...the Iphone 4 recall is almost certain over the signal strength.

Fitch says that Spain has a stable outlook.

Mortgage Applications sink to a 13 year low.

The Baltic Dry Index (which tracks global shipping rates from around the world) fell for a 34th consecutive day! This shows that the "real time" demand for raw materials is diving which indicates that economies around the world are slowing and that will likely show up in the data in the months to quarter ahead if this keeps up.

Sean Hyman
DailyFX Forum Moderator

Biggest % gainers: GBP/USD up 0.73%, GBP/AUD, GBP/JPY on GBP strength.

Biggest % losers: USD/ZAR down0.71%, USD/CAD, EUR/GBP, EUR/CAD on GBP strength and some CAD strength. The South African rand is strong too, so the commodity currencies are strong at the moment.

Moody's cuts Portugal's Credit Rating. http://www.dailyfx.com/forex/market_...l_Debt_to.html

Gold $1,216 perking back up.
Oil $76.56

GBP CPI y/y inline at 3.2% but lower than 3.4% last time.

EUR German ZEW Economic Sentiment worse at 10.7 vs. 16.8 expected and 18.8 last time.

CAD Trade Balance worse at -0.5B vs. 0.0B expected and -0.3B last time.

NZD Retail Sales m/m come out tonight at 6:45pm EST.

AUD RBA Gov. Stevens speaks at 11:05pm EST.

Sean Hyman
DailyFX Forum Moderator

Biggest % gainers: USD/CHF up 0.62%, GBP/CHF on CHF weakness.

Biggest % losers: CHF/JPY down 0.57%, EUR/JPY, EUR/USD on CHF weakness and EUR weakness.

Gold $1,204
Oil $76.22

AUD Home Loans m/m came out better than expected at 1.9% vs. 0.7% expected. Last time improved to -1.5% from -1.8% previously.

GBP Final GDP q/q in line at 0.3% and same as last time.

USD Bernanke speaks at 10am EST today.

CAD BOC's Business Outlook Survey comes out at 10:30am EST today.

Sean Hyman
DailyFX Forum Moderator

CAD blows out its employment numbers to the upside: Employment Change +93.2k vs. 17.9k expected. Last time was 24.7k.

CAD Unemployment Rate better/lower at 7.9% vs. 8.1% expected and 8.1% last time. http://www.dailyfx.com/forex/fundame...mployment.html

Biggest % gainers: CAD/JPY up 1.32%, USD/CHF, GBP/CHF, EUR/CHF on CAD strength and CHF weakness.

Biggest % losers: EUR/CAD down 1.65%, AUD/CAD down 1.24%, USD/CAD down 1.06%, on CAD strength.

GBP PPI Input m/m worse at -0.2% vs. 0.1% expected. Last time revised higher to -0.2% vs. -0.6% formerly.

CAD Housing Starts worse at 189k vs. 193k expected but last time was revised higher to 195k vs. 189k expected. So overall, with the upward revision from last time, not so bad after all.

Gold $1208
Oil $75.46

Sean Hyman
DailyFX Forum Moderator

Biggest % gainers: AUD/JPY up 2.28%, NZD/JPY up 1.59%, AUD/USD, CAD/JPY, EUR/JPY, CHF/JPY, AUD/CAD on yen weakness & commodity dollar strength after that bullish AUD employment report.

Biggest % losers: GBP/AUD down 1.62%, EUR/AUD down 1% on AUD strength.

Gold $1,200
Oil $75.25

GBP BOE holds rates steady at 0.50%.
GBP Asset Purchase Facility kept at 200B as expected.

EUR ECB holds rates steady at 1.00%.
ECB Press Conference at 8:30am EST today. (Trichet comments attached).

USD Unemployment Claims better than expected at 454k vs. 461k expected and 475k last time.

GBP Halifax HPI m/m worse at -0.6% vs +0.6% expected. Last time was -0.5%.

GBP Manufacturing Production m/m worse at 0.3% vs. 0.4% expected. Last time was revised worse also to -0.8% vs. -0.4%.

The International Monetary Fund raised its forecast for global growth this year, reflecting a stronger-than-expected first half, while warning that financial- market turmoil has increased the risks to the recovery.

The world economy will expand 4.6 percent in 2010, the biggest gain since 2007.



Baltic Dry Index drops another 4% and hits its 31st declining day in a row! This shows that global trade is collapsing since shipping rates are plummeting.


Sean Hyman
DailyFX Forum Moderator

mild day today so far...

Biggest % gainers: USD/TRY up 0.30%, USD/SGD, NZD/USD, GBP/AUD, no distinct trends here.

Biggest % losers: EUR/JPY down 0.58%, EUR/CHF, EUR/NZD on mild EUR weakness.

Gold $1,192
Oil $72.67

Central banks are selling gold to the BIS (Bank of International Settlements) in droves right now! These countries need to raise cash and so selling some of their gold that has appreciated nicely is a way to do that. How much gold have they sold? They've sold 349 metric tons of gold since December which raised $14 billion for these central banks.

The Baltic Dry Index has cut in half in the last 30-40 days showing that global trade is collapsing once again! In fact, its fallen 5% today and it has fallen for 30 days in a row! The uptrend in these global shipping prices has now been broken! This opens the door for the defensive currencies to outshine the riskier, higher yielding currencies (especially commodity currencies).

The U.S. could breach its debt ceiling within the next 6 months. Right now it stands at $13.2 Trillion Dollars!

CAD Ivey PMI comes out at 10am EST. Expectation is for 64.1.

AUD Employment Numbers come out tonight at 9:30pm EST. With their recent job advertisements number being down, there is a decent shot of worse than expected numbers. We'll see.

On Thursday, get ready for the interest rate decisions for EUR & GBP, no change is expected on both of them.

On Friday, we'll have CAD's employment numbers.

Sean Hyman
DailyFX Forum Moderator

Biggest % gainers: AUD/JPY up 1.70%, AUD/USD, NZD/JPY, NZD/USD on AUD & NZD strength.

Biggest % losers: USD/ZAR down 1.54%, GBP/AUD, EUR/AUD on AUD strength.

Gold down almost $20 to 1,190 an ounce.
Oil $72.92

AUD ...last night's Trade Balance report came in better than expected..rates held unchanged. DailyFX has a thorough update on it here: http://www.dailyfx.com/forex/fundame...Rates__US.html

AUD Reserve Bank of Australia says that spending and investment is growing and that gave AUD a pop overnight in addition to the positive Trade Balance data.

CAD Building Permits m/m much worse than expected at -10.8% vs. -1.3% expected. Last time was revised higher to +5.9% vs. 5.4% formerly...but on a "net" basis, it was a huge negative reading overall.

USD ISM Non-Manufacturing (Services) PMI comes out at 10am EST. Expectation is for 55.1.

Keep an eye out for the AUD employment numbers later tomorrow night. Their job advertisement numbers were really bad last week, so that could foreshadow what is to come in their jobs report. We'll see.

Sean Hyman
DailyFX Forum Moderator

Since many banks are closed, the volume is light and not a whole lot "shaking" out there today so far.

Biggest % gainers: USD/SGD up 0.35%, EUR/GBP, USD/CAD

Biggest % losers: GBP/USD down 0.57%, GBP/JPY, GBP/CHF on mild GBP weakness.

Iran says that its passenger jets are being refused fuel from the U.K. and Germany due to sanctions: http://news.bbc.co.uk/2/hi/middle_east/10511420.stm

As of Friday, USD/JPY's SSI reading was 4.67!

Australia revises down previous reading significantly on this one: ANZ Job Advertisements m/m 2.7% vs. 4.3% formerly. However, the former 4.3% reading has now been revised downward to 2.7%. Ouch!

CHF Retail Sales better than expected at 3.8% vs. 2.7% expected and 1.3% last time.

GBP Services PMI worse at 54.4 vs. 55.1 expected and 55.4 formerly.

USD Bank Holiday

6pm EST tonight NZD NZIER Business Confidence numbers come out.

9:30pm EST tonight... look for the AUD Trade Balance numbers.

12:30 am EST Australia announces its interest rates. Unchanged is what is expected (at 4.50%).

Sean Hyman
DailyFX Forum Moderator

Biggest % gainers: EUR/AUD up 1.33%, EUR/TRY, EUR/USD up 1.25%, EUR/NZD up 1.17% on EUR strength.

Biggest % losers: AUD/JPY down 0.93%, USD/CHF, USD/JPY, NZD/JPY, AUD/CAD, CAD/JPY on USD weakness & JPY strength.

USD/JPY hits fresh 2010 lows (not 52 week low). The pair is at 87.74 right now.

ADP was lower yesterday....Weekly Unemployment Claims were lower today...hmmmm, wonder what that says about NFP on Friday? Get ready for a bumpy economic road ahead!

The European Central Bank announced that it lent banks 111.2 billion euros for six days in order to help them cope with the expiry of its landmark 12-month loans today.

DailyFX - ECB Lends $136.5 Billion for Six Days to Cope12 Month Loans Due Today, German Retail Sales Advance in May http://www.dailyfx.com/forex/fundame...#ixzz0sRFOxGw2


Gold $1,235
Oil $74.49

GBP Manufacturing PMI basically in line at 57.5 vs. 57.6 expected (58.0 was last time).

CAD Bank Holiday today.

USD Unemployment Claims worse at 472k vs. 454k expected and 459k last time.

USD ISM Manufacturing PMI comes out at 10am EST. 58.9 is the expectation.

USD Pending Home Sales m/m come out at 10am EST today. Expectation is for -7.4%. Last time was +6.0%.

CHF SNB is "rumored" to be supporting the EUR/CHF around 1.3200ish now.

Sean Hyman
DailyFX Forum Moderator

Biggest % gainers: EUR/NZD up 1.18%, EUR/GBP up 1.08%, EUR/AUD, EUR/CAD on EUR strength.

Biggest % losers: NZD/JPY down 0.74%, NZD/USD, GBP/USD, GBP/JPY on mild JPY strength and NZD and GBP weakness.

A peek into FXCM's Las Vegas Expo: http://forexforums.dailyfx.com/insid...tml#post529696

GBP Nationwide HPI worse at 0.1% vs. 0.3% expected and 0.5% last time.

CHF KOF Economic Barometer better at 2.25 vs. 2.17 expected and 2.16 last time. (leading indicator)

USD ADP Non-Farm Employment Change came in worse at 13k vs. 59k expected and 57k last time.

CAD GDP m/m worse at 0.0% vs. 0.2% expected and 0.6% last time.

USD FOMC member Duke speaks on "Credit Availablility" at 9am EST today.

EUR Trichet speaks at 10:30am EST today. He's due to hold a press conference at the High-level Eurosystem Seminar with Central Banks and Monetary Agencies of the Gulf Cooperation Council, in Rome.

JPY Tankan Index comes out tonight at 7:50pm EST.

AUD Retail Sales come out at 9:30pm EST tonight.

Oil $75.77
Gold $1,238

Sean Hyman
DailyFX Forum Moderator

A peek into FXCM's Las Vegas Expo: http://forexforums.dailyfx.com/insid...tml#post529696

Biggest % gainers: GBP/AUD up 1.75%, EUR/NZD up 1.28%, USD/CAD up 1.27%, EUR/AUD up 1.19% as commodity currencies fall due to worries that China's economy is slowing down even further. DailyFX - US Dollar, Japanese Yen Rise as Stocks Drop on China Growth Fears

Biggest % losers: NZD/JPY down 2.60%, AUD/JPY down 2.50%, CAD/JPY down 1.92%, NZD/USD, AUD/USD, EUR/JPY, GBP/JPY on USD & JPY strength vs. commodity currency weakness.

EUR/CHF hits another "all time low"....

Gold $1,230 down $8.65
Oil $75.90 down $2.10

NASDAQ down 32 points so far today. It gapped down lower.

The ruble is heading for a period of exchange-rate volatility and the recent period of “rapid strengthening” is over, Bank Rossii First Deputy Chairman Alexei Ulyukayev said.

Consumer Confidence comes out at 10am EST today. 62.8 is the expected number.

Sean Hyman
DailyFX Forum Moderator

Biggest % gainers: AUD/NZD up 0.89%, CHF/JPY, EUR/NZD on some mild NZD weakness and CHF strength.

Biggest % losers: EUR/CHF (hits new all time low) of 1.3369 down 1.16%, USD/CHF, NZD/USD, NZD/JPY on mild NZD weakness and CHF strength.

Rumors floating around that the BP CEO may resign...unconfirmed so far.

USD/JPY SSI is at 4.54! They're trying to pick a bottom in this downtrend! Don't catch the falling knife!

On Sunday, NZD business confidence numbers came in worse than last time. That's what caused the NZD weakness. The number came in at 40.2 vs. 48.2 last time.

Investors/traders are still running towards gold and Swiss francs as they fear that the stock markets may be toppy and that the global economy may be slowing down.

The BEA's May Personal Income and Spending data is out - as expected, with gizmos like the iPad out there, Americans once again outspent themselves: May Income came in at 0.4%, below expectations of 0.5%, flat with a revised April reading of 0.5%; Spending on the other hand was greater than expectations of 0.1%, coming in at 0.2%, compared to a previous reading of 0.0%. Yet despite the excess spending, the Personal Savings rate climbed to 4.0% - an increase from last month's revised 3.8%, and the highest since September 2009.

Gold $1,254 not far from its all time high!
Oil $78.17

The Bank of International Settlements (BIS) says that the world economy is still fragile.

Apple sold 1.7 million Iphone 4's over the weekend.

Sean Hyman
DailyFX Forum Moderator

G-8 meetings today, G-20 meetings this weekend!

Biggest % gainers: USD/ZAR up 0.39%, CAD/JPY ...low volatility so far, with G-8 and G-20 meetings coming up and a lack of market moving economic data today. Mild CAD strength.

Biggest % losers: EUR/CAD down 0.77%, EUR/CHF, USD/CAD, AUD/CAD on mild EUR weakness and mild CAD strength.

USD Final GDP q/q came out worse than expected at 2.7% vs. 3.0% expected and 3.0% last time. I believe this is due to the purposeful slowdown of the Chinese economy and the uncontrollable slow down in Europe. It's spilling over into U.S. growth and weighing it down (over and above our own "in house" problems here in the U.S. that stems our growth too... 46 of our own states are experiencing huge budget deficits due to large tax revenue shortfalls). This is why we're also seeing a slump in commodity prices too (due to a lack of global growth/demand).

CHF The SNB says that deflation risks have disappeared. That put the EUR/CHF down to all time lows as the CHF strengthened further against the euro.

SNB also raised its growth forecast for Switzerland from 1.5% in March up to 2% now.

Stock indexes around the world are breaking their uptrends. Not good for the riskier currencies, but could be good for JPY, USD, CHF and gold.

Gold $1,252
Oil $77.51

Chinese yuan strengthened again vs. the buck to USD/CNY 6.7817 (way down from the 6.8300 peg).

Sean Hyman
DailyFX Forum Moderator