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Bobbys Corner-Open Market-Dec.29.2010

bob-slade-forex-trading-6-150x200Good Morning:

I am back in town after being stuck in the snow at my house for the past 2 days.
As much as it is 2010-it is still amazing that 2 feet of snow paralyzes an entire region for days.

 The markets are really quiet-as the week between Christmas and New Years is historically a quiet time-the snowstorm that hit the east coast added to the quietness, as many participants are stuck (or just decided to stay) at home.

China announced an interest rate increase which was highly expected by the marketplace. 

The safety of the USD and the Yen are not of as much interest to investors-as they look for higher-yielding assets as the world wide economic recovery is gaining traction.  We will await the new year to see where investors look to invest their money.

Oil:$91.04                                                                Gold:$1403.10

No major data due out today.

HAVE A GREAT DAY & GOOD LUCK