Bobbys Corner-Open Market-Feb.18.2011
Good Morning:
The Euro lost steam overnight as German Producer Prices rose faster than expected-thus fueling speculation that monetary officials may need to increase interest rates in the region, which would put a stranglehold on any economic recovery. German PPI was up 1.2% for January-twice what analysts expected. Investors are starting to get weary of the debt crisis and uncertainty that is plaguing the Euro Zone.
Cable had a good day-on the heels of stronger than expected Retail Sales. Year to year data shows that Retail Sales in the UK rose 5.3%, showing strong signs of growth as the UK pushes itself out of the economic 
doldrums that has been weighing heavily on the country.
World equity markets were mixed, and US Futures are slightly higher.
Oil:$86.40 Gold:$1385.20
No Major US Data Today.
FXDD WILL BE AT THE NY TRADERS EXPO at the Marriott Marquis in New York City from Feb.20-22- Come by and say hi (booth #5607)
HAVE A GREAT DAY-WEEKEND & GOOD LUCK
Rebroadcast of Lesson 4 with Greg and Shawn
Rebroadcast of Lesson 4 with Greg and Shawn – >> Watch now
Portugal on the Wires
Growing consensus among EU countries that Portugal will have to take a bailout by April.
USDJPY reaches target level at the 38.2% Fibo support.
The move below the 100 hour MA and floor support at the 83.49 level targeted the 83.12 level (SEE PRIOR POST BY CLICKING HERE). The low has reached the 83.14 and is finding the bids. Look for dip buyers against the level with additional support at the 200 hour MA at the 83.04 level. ON the topside the 83.47-50 level will be the target.
USDCAD back down at support
The USDCAD tested the 0.9849 level on the move back above the old low at 0.9830 but could not break through. With the dollar selling, the USDCAD has sold off too. The price is back down testing the 0.9830 level. Will buyers come in at the level? The risk is limited, and so is the range. Above 0.9850 or below 0.9830?
Philly Fed surges, Mortgage delinquencies fall to 8.2%
Leading Indicators (MoM): Survey: 0.2% Actual: 0.1% Prior: 1.0% Revised: 0.8%
JAN vs. DEC
Leading Index: 112.3 vs 112.2
Monthly Change: 0.1% vs 0.8%
Diffusion Index: 65.0 vs 60.0
6-Mo Annual Change: 6.1% vs 6.3%
6-Mo Diffusion Index: 70.0 vs 70.0
Philadelphia Fed index surges to 35.9. This is the highest level since January 2004 FEB vs. JAN
Prices Paid: 67.2 vs 54.3
Prices Received: 21.0 vs 17.1
New Orders: 23.7 vs 23.6
Shipments: 35.2 vs 13.4
Unfilled Orders: 14.9 vs 8.7
Delivery Time: 10.0 vs 2.3
Inventories: 2.1 vs 6.8
Number of Employees: 23.6 vs 17.6
Average Workweek: 12.8 vs 10.6
In a separate report the Mortgage Delinquincies for the 4Q fell to 8.225 from 9.13%. This was better than expected.
US Philadelphia Fed Index & Leading Indicators Data at 10AM
Jobless Claims Rise, CPI Data Better Across the Board
Consumer Price Index (MoM): Survey: 0.3% Actual: 0.4% Prior: 0.5%
CPI Ex Food & Energy (MoM): Survey: 0.1% Actual: 0.2% Prior: 0.1%
Consumer Price Index (y/y): Survey: 1.6% Actual: 1.6% Prior: 1.5%
Core CPI (y/y) – Survey: 0.9% Actual: 1.0% Prior: 0.8%
CPI Core Index SA: Actual: 222.587 Prior: 219.179
Consumer Price Index NSA: Survey: 220.176 Actual: 220.223 Prior: 219.179
Jobless Claims: Survey: 400K Actual: 410K Prior: 383K Revised: K
Continuing Claims: Survey: 3893K Actual: 3911K Prior: 3888K Revised: K
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