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Bobbys Corner-Open Market-Dec.21.2010

bob-slade-forex-2-150x200Good Morning:

Moody’s Investor Services stated today that they may be looking at a rating downgrade for Portugal, as they state that “sluggish” growth in Portugal will be the main culprit in any upcoming downgrade.
Comments from China that they have taken “concrete action” to ease the sovereign debt crisis, and that China backs  the EU’s efforts to ensure financial stability helped the Euro maintain throughout the morning trading session. 

Air travel is still causing disruptions throughout Europe.  Frankfurt airport was closed this morning, and London’s Heathrow airport is running at 1/3 capacity.  The trip home for the Christmas holiday in Europe is going to be a chore-as there is no predicted letup in the bad weather-and it will take days to clear out the already crowded airspace.

Asia and European equity markets were higher-and US Futures are also higher at this time.

Oil:$89.45                                                 Gold:$1387.30 

No major data due out today.