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Bobbys Corner-Open Market-Oct.11.2011

Good Morning:

Quotes from the five best foreign-exchange forecasters (as measured by Bloomberg), say that the best is over for the dollar.  The rally that has helped the greenback has no chance of continuing-as the slow US economy will force the Fed to flood the world with USD, to inject liquidity into the financial sector through bond purchases.  With almost 3 years of near zero interest rates, and $2.35 billion of bond purchases during the same 3 years pulled the US out of a recession, but the faltering economy has some analysts fearing a new recession is brewing on the horizon.

The Euro was a bit softer ahead of a vote by Slovakian Lawmakers on the Euro Zone bailout.  Most feel that this will pass, but that the vote will be messy-thus adding additional uncertainty to an already uncertain situation.
In other Euro Zone news, the  Greek government is  comenting that the budget deficit will be 9.1% of Greek GDP-versus the original target of 7.5%.  I am not surprised-are you?  

Asian equity markets were higher, following NY”s rally on Monday (up 330 points).  European markets and US Futures are lower at this time.

Gold and oil are lower.