Forex Trade Talk 11:00 GMT 20 January 2012

Forex Trade Talk Updates continuously added to Forex Forum Key Items  US- Existing Homes CA- CPI. 
EUR short-covering gain momentum made Thursday running out of steam. Recent COT and anecdotal data have been supporting the view reflecting the view that market participants have been very short the common currency. 20-day moving average 1.2869.
End of fiscal year Japanese life insurance investment adjustment activity coming into focus? 
Greek sovereign debt negotiations appear to be nearing an accord. Monday is the current target day.
The January Chinese HSBC PMI was 48.8 vs3 48.7 in December.  Chinese markets are closed all of next week for Lunar New Year observances. 
Saturday sees the South Carolina presidential primary. A clear Romney victory would about ensure the Republican nomination. A loss would drag the process on further. 
Check the Forex Forum over the day for an updated and ongoing discussion of current trading themes in the MARKET CHATTER continuous discussion thread.
Forex pairs vs 2-yr note spreads
Some traders focus intently on the Japan vs. U.S. 2-yr note spread (only the U.S. 2-yr moves much).
COMMODITIES and Commodity Currencies

Click on Chart to Enlarge
EQUITIES & INTEREST RATES
Bonds are a counter to risk trades because risk investments must be financed. When the cost of money moves up (higher interest rates), the return and allure of risk trades such as equities falls. 
See ECONOMIC CALENDAR for a complete list of future forex market events and consensus data estimates. Go to the forex forum for up-to-date market developments and technical trading ideas.
John M. Bland is an author and co-founder and partner of Global-View.com. Prior to Global-View.com, he was a forex trader and a private-label forex analyst for a top Fed watching service in NYC. He has been a corporate forex advisor and also worked in international liability management for a major N.Y. money center bank. John holds an MBA from the University of California at Berkeley and a B.A. in International Economics from that school.
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