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Bobbys Corner-Open Market-Feb.8.2011

bob-slade-forex-trading-5-150x200Good Morning:

In a surprise move, China pushed interest rates higher by 25 basis points for the third time since mid October 2010-as the Chinese Government looks to stem the jump in inflation.  Oil, copper and emerging equity markets fell as concerns that the Chinese interest rates hike policy will slow the world’s fastest growing economy.
The Korean Won rose-as speculation mounts that the Korean Central Bank will raise interest rates to combat rising inflation in that country also.
Risk FX was boosted overnight as investors continue to put more capital in Asia.  Even the rate hike by China did not dampen the rally.

Asian and European equity markets were mixed, while US Futures are slightly higher.

Oil:$86.20                                                   Gold:$1351.60

TIME FOR EST. PRIOR
10:00A.M. IBD/TIPP ECONOMIC OPTIMISM FEB. 51.9O
10:00A.M. JOLTs JOB OPENINGS DEC. 3248

HAVE A GREAT DAY & GOOD LUCK