Forex News and Commentary by FXDD

2-9 Econonmic Calendar

China’s January CPI & PPI

The CPI rose markedly in January, even above some lofty expectations during the shortened month in China for the New Year celebration. The market has not had a strong reaction to this inflationary release as Greek leaders have reportedly failed…

usd/hkd getting close to the top of the wedge.

usd/hkd getting close to the top of the wedge which might continue to provide resistance for the pair.

China Sets Yuan Reference Rate @ 6.3009

Bank of Korea Keeps Interest Rates Unchanged @3.25%

New Zealand Q4 Employment Report

The New Zealand Unemployment Rate fell, however a closer looks shows a steeper drop in the Participation Rate. As a result the Kiwi had a short- lived bid jumping 25+pips on the headline number before coming back to pre-release levels.…

South Korean Producer Price Index

The South Korean CPI for January came in softer than the prior month at 3.4% vs. 4.3%

Eur/Try broke of a daily wedge and made new yearly lows

Eur/Try broke of a daily wedge and made new yearly lows giving a bearish signal.

CompassFX Webinar with Greg Michalowski Thursday 4:00PM

CompassFX is having a special webinar with Greg Michalowski this Thursday 4:00PM

Greece draft released

Greece to pledge 20% cut in minimal wage adn not to increase sales tax
Pledges permanent spending cuts, accelerated labor and product market reforms
Issue tenders for ports and airport in second half of 2012

German Deputy Finance Minister says little progress on Greece since 2010

Governance in Greece is not up to standards
It can be improved
Talks between Greece and PSI is still difficult

The EURUSD has broken down on the comments.

Euro Area Finance Chiefs to Meet Tomorrow at 6PM in Brussels

EURUSD bounces back higher off retracement support

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AUDUSD tests trendline support

The AUDUSD is down testing trendline support at the 1.0765 level. The Reserve Bank of Australia surprised the market yesterday by not cutting rates. This led to new six month highs yesterday and again today. However, the price has since…

Gold below intraday support, but still positive off the daily chart.

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