Aussie Conference Board Leading Index & New Home Sales

The Australian July Conference Board Leading Index came in much better than the June (0.1%) reading at 0.8%. While HIA New Home Sales also improved in August to -2.6% from -7.0% the prior reading. The AUD has had a muted reaction to these release as it trades right off its highs.

Japan’s Q3 Tankan Manufacturing Index

Japan’s Tankan came in stronger than expected and is showing its 6th straight quarter over quarter rise, as the drag of a strong Yen has seemingly not affected the indicator. Traders remain alert in the event that there is further BOJ intervention ahead of the mid year close and fix happening in Japan until the end of the week. The details of the release are as follows:

• Tankan Large Mfg Index – Survey:7   Actual:8   Prior:1
• Tankan Large Mfg Outlook – Survey:3   Actual: -1  Prior:3
• Tankan Non- Mfg Index – Survey:-2   Actual:2   Prior:-5
• Tankan Non - Mfg Outlook – Survey:-4   Actual:-2   Prior:-4
• Tankan Large All Industry Capex – Survey:3.0%   Actual:   Prior:2.7%

New Zealand Trade Balance

The Kiwi Trade Balance reading for August came in softer than the prior month and expectations but the Kiwi had a muted reaction, as we saw an increase in imports and a decrease in exports as was expected.  

• Trade Balance – Survey:-417M   Actual:-437M   Prior:-186m
• Imports – Survey:3.80B   Actual:3.59B   Prior:3.75B
• Exports – Survey:3.37B   Actual:3.15B   Prior:3.57B
• TB 12mo. YTD – Survey:869M   Actual:866M   Prior:573M

Rebroadcast of webinar from Tuesday Sept 28 2010

Rebroadcast of webinar from Tuesday Sept 28 2010 – Click here to watch

Large triangle wedge continues to develop in the USD/CAD

A large triangle wedge formation continues to develop in the USD/CAD. This is denoted by the fact that the highs are getting lower and the lows are getting higher. This tighening acts like a giant spring. The market has slowly but surely been forcing the USD/CAD into the wedge. Also seen here are how both the 100 and 200 day moving averages are running sideways. Traders are looking for a way out, either higher or lower.

If you find these types of patterns challenging to understand, be sure to join us for our webinar which takes place at 4pm New York time/ 20 gmt today. Here is the link to register https://www1.gotomeeting.com/register/688088704

Forex Midday Report- Sept 28

Forex Midday Report- Sept 28

USD/CHF Reaches Historic Low

Dollar Vs Swiss Franc reaches all-time historic low 97.37

US Consumer Confidence and Richmond Fed Data Weak

Consumer Confidence:    Survey: 52.1     Actual: 48.5       Prior: 53.5     Revised: 53.2

Richmond Fed Manufacturing Index:      Survey: 6     Actual: -2      Prior: 11