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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.

HAVE A GREAT DAY & GOOD LUCK