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Bobbys Corner-Open Market-March.10.2011

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

Moody’s downgraded Spain from Aa2 to Aa1-with a negative outlook. 

  • Cites concerns over sustainability of Spanish govt finances
  • Sees background of only moderate Spanish growth short-medium term
  • Spain still has high vulnerability to market disruption
  • Total cost of bank restructuring likely around 40-50 blnAs expected the Bank of England left interest rates unchanged.

    World equity markets were and are lower-as are US Futures.

    Oil:$102.59                                                Gold:$1418.10

    TIME FOR EST. PRIOR
    8:30A.M. INITIAL JOBLESS CLAIMS 5-Mar 375K 368K
    8:30A.M. CONTINUING CLAIMS 26-Feb 3750K 3774K
    8:30A.M. TRADE BALANCE         JAN.     -$41.5B -$40.6B
    9:45A.M. BLOOMBERG CONSUMER COMFORT 6-Mar -39.3O
    2:00P.M. MONTHLY BUDGET STATEMENT Feb  -$225.4B -$220.9B

HAVE A GREAT DAY & GOOD LUCK