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Bobbys Corner-Open Market-Jan.3.2011

bob-slade-forex-trading-7-150x200Good Morning:

Welcome to the first trading day of 2011.  I want to wish everyone a Happy & Healthy New Year.

With a slow start to the new trading year-as Japan, and many European centers still on a bank holiday until tomorrow -the markets will resume where we left off at the end of 2010.

The sovereign debt issues plaguing the EU will be one of the central points in 2011.  China has made very positive comments regarding Spain-and will buy additional Spanish debt this year.  We will have to watch this development closely-as the yields on debt ladened Euro region bonds may offer better returns than US Treasuries.  By supporting the Euro Zone this way, the Chinese will try to  insure that the USD will not be the sole reserve currency of the world. 

With the New Year-comes the appetite for new risk. Oil is trading over $92/barrel , Gold at 1420+/oz. and S&P futures up 90 points at this time.

Most markets were closed-but those that were open saw higher equity prices.

Oil:$92.19                                       Gold:$1423.10

TIME FOR EST. PRIOR
10:00AM ISM MANUFACTURING DEC. 57.O 56.6O
10:00AM ISM PRICES PAID DEC. 71.8O 69.5O
10:00AM CONSTRUCTION SPENDING MoM        NOV. 0.20% 0.70%

HAVE A GREAT DAY & GOOD LUCK


Oil:$92.19                                 Gold:$