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Bobbys Corner-Open Market-Jan.18.2011

bob-slade-forex-trading-4-150x200Good Morning:

Risk took center stage in overnight trading after comments from Russian Deputy Prime Minister Zhukov that Russia may be interested in investing in Spanish debt.   Both Russia and China do not want to see the Euro lose it’s position as a potential reserve currency-so today’s comments show a clear sign that the troubled EU economies will most probably receive economic support from outside the region.
The EUR/USD pair jumped over 1.3425-with better than expected ZEW reading from the EU and strong Spanish T-Bill auction.  GBP/USD takes out the 1.6050 level on good CPI data.

Asian equity markets were nmixed and European equity markets  are higher. US Futures are also higher at this time.

Oil:$91.25                                                                Gold:$1375.40

TIME  FOR EST. PRIOR
8:30A.M. EMPIRE MANUFACTURING JAN. 12.OO 1O.57
9:00A.M. TOTAL NET TIC FLOWS NOV. $7.5B
9:00A.M. NET LONG TERM TIC FLOWS      NOV. $27.6B
10:00A.M. NAHB HOUSING MARKET INDEX JAN. 17.O 16.O

HAVE A GREAT DAY & GOOD LUCK