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Bobbys Corner-Open Market-Oct.14.2010

bob-slade-forex-trading-8-150x200Good Morning:

I am writing again from Kuwait-and we will be heading to Qatar at the end of the week.

The USD hit a 15 year low versus the Yen and the lowest level against the Euro since January 2010.
A surprise move by the Monetary Authority of Singapore sent the dollar lower, bringing EUR/USD over 1.41 during Asia and early European trading.  The pair has now come back into the mid to upper 1.40 level.
Aussie and the Loonie also rose as commodities rallied. With the markets already accepting that the Fed’s monetary easing program is a done deal-market participants are awaiting the scope of the program.  The amount of the easing policy will certainly play a roll in how much the markets will continue to sell the greenback

Commodities rallied across the board, and Gold touched another record overnight.  Silver rose to the highest level since March 1980, and Oil rose.
Equity markets in Asia were  higher, and European markets are mixed at this time.

Oil:$83.39                                                             Gold:$1380.40

Today’s US Data:

TIME FOR EST. PRIOR
8:30A.M. TRADE BALANCE AUG. -$43.3B -$42.8B
8:30A.M. PPI MoM SEPT. 0.20% 0.40%
8:30A.M. PPI EX FOOD & ENERGY MoM SEPT. 0.10% 0.10%
8:30A.M. PPI YoY SEPT. 3.70% 3.10%
8:30A.M. PPI EX FOOD & ENERGY YoY SEPT. 1.50% 1.30%
8:30A.M. INITIAL JOBLESS CLAIMS 9-Oct     445K
8:30A.M. CONTINUING CLAIMS 2-Oct    4462K

HAVE A GREAT DAY & GOOD LUCK