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Bobbys Corner-Open Market-March.25.2011

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

Portugal was downgraded after the prime minister resigned when legislators rejected new austerity measures.  S&P lower Portugal’s long term sovereign credit rating-short term ratings remain on negative watch.  S&P stated that “the resulting increased political uncertainty could hurt market confidence and heighten Portugal’s refinancing risk”

Both the ECB and BOE are feeling pressure to increase interest rates, as signs of inflation creep into their economies.  This is a very delicate situation-as raising interest rates may slow economic recovery.  The Euro Zone and UK are both still reeling from the global recession, along with the EU battling  a sovereign debt crisis-this may be reason enough to hold off on any rate hikes. 

In Japan-news that the No.3 reactor at the Fukushima Dai-Ichi power plant may be cracked and leaking radiation.  The spread of radiation in the food and water supply is of major concerns-even as the Japanese government states that the health threat remained minimal.

In other news, NATO is slated to take over control of the no-fly zone over Libya as soon as this weekend.

Worldwide equity markets rose, and US Futures are higher at this time.  The technology sector lead the way-with Oracle and Accenture beating alalysts’ estimates.

Oil:$105.55                                                                 Gold:$1436.60

TIME FOR EST. PRIOR
8:30A.M. GDP QoQ 4Q T 3.00% 2.80%
8:30A.M. GDP PRICE INDEX 4Q T 0.40% 0.40%
8:30A.M. CORE PCE QoQ      4Q T 0.50% 0.50%
8:30A.M. PERSONAL CONSUMPTION 4Q T 4.10% 4.10%
9:55A.M. U. OF MICHIGAN CONFIDENCE  MAR F 68.O 68.2O

HAVE A GREAT DAY-WEEKEND & GOOD LUCK 

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