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Bobbys Corner-Open Market-Dec.15.2010

bob-slade-forex-trading-3-150x200Good Morning:

The Euro dropped below the 1.33 handle after Moody’s Investors Service stated that Spain may be looking at a downgrade of it’s debt rating.  Spain’s “vulnerability to funding stress” was one of the reasons that Moody’s cited for the possible downgrade.  Spain’s enormous size will cause problems for the EZ unless this problem is  addressed and dealt with in a timely fashion.
EU leaders will start a 2 day meeting in Brussels tomorrow, and the focus will be to develop a permanent crisis fighting system that would resemble an emergency type of fund to be set up within the EU.
Cable was weaker on the heels of lower than expected employment data.  The JPY was steady.

World equity markets were lower-and US Futures are also lower this morning.

CPI data is on the plate in the US-and the data is looking for an uptick again this month (the Fed will need to keep an eye on this data going forward-to be certain that costs are not getting out of line in this economic downturn).

Oil:$ 87.58                                                                                                   Gold:$1394.40

TIME FOR EST.  PRIOR
07:00AM MBA MORTGAGE APPLICATIONS 10-Dec    ——-    -O.9%
08:30AM CONSUMER PRICE INDEX (MoM)  NOV    O.2%   O.2%
 08:30AM CPI EX FOOD & ENERGY (MoM)       NOV       01O%.   O.O%
08:30AM CONSUMER PRICE INDEX (YoY)  NOV 1.10%   1.2O%
08:30AM CPI EX FOOD & ENERGY (YoY)   NOV  O.6%  O.6%
08:30AM CPI CORE INDEX SA  NOV  ——- 221.77%
08:30AM CONSUMER PRICE INDEX NSA  NOV    281.6OO% 218.71%
08:30AM EMPIRE MANUFACTURING  DEC            5.OO    -11.4O
09:00AM TOTAL NET TIC FLOWS  OCT     $51.OB    $81.7B
09:00AM NET LONG-TERM TIC FLOWS  OCT    ——-     81.OB 
09:15AM INDUSTRIAL PRODUCTION  NOV   O.3%   O.O%
09:15AM CAPACITY UTILIZATION   NOV      75.O%     74.8O%
10:00AM NAHB HOUSING MARKET INDEX     DEC         16.O       16.O

HAVE A GREAT DAY & GOOD LUCK