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Bobbys Corner

Bobbys Corner-Open Market-April.8.2011

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

We start tocb,iday with President Obama demanding a budget deal being agreed on-as a US government showdown looms on the horizon.
The US government will shut down at midnight tonight if no deal is reached.
If no agreement is reached-the US will shut down all non-essential agencies, and will furlough 800,000 federal employees.
This would be the first shutdown in 15 years, and would close national parks, IRS paper tax returns would be unprocessed, passport services would be closed, along with a slew of other government services.

Bobbys Corner-Open Market-April.4.2011

bob-slade-forex-2-150x200Good Morning:

A fairly lackluster start to the week-with no real changes in the majors, and crosses showing very little real net change.
Friday’s good US employment data may begin to prompt the FED to remove some of the “accommodating bias” rhetoric in their statements-but if we see a better employment  data, along with true growth-the FOMC will need to begin to change it’s course of monetary action  sooner than later.

Bobbys Corner-Open Market-March.29.2011

bob-slade-forex-trading-3-150x200Good Morning:

Federal Reserve member Bullard stated overnight that the FOMC  may not be able or willing to wait out the global uncertainties before the US satrts normalising it’s monetary ploicy.
The uncertainties that he is speaking about are:
1) Political unrest in Middle East and North Africa
2) Japanese crisis (earthquake and nuclear)
3) European sovereign debt problems
4) US deficit

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”

Bobbys Corner-Open Market-March.24.2011

bob-slade-forex-trading-6-150x200Good Morning:  Portugal’s Prime Minister resigned after his legislators rejected his proposals for austerity measures in the wake of their debt crisis.  The failure to pass the austerity measures have put the country in a dire situation.  It looks like Portugal will need to follow Greece and Ireland and seek an international bailout.  Portugal had already raised taxes and has added deep spending cuts prior to the vote for additional austerity measures. The bailout cost is estimated to be approximately 100 billion euros. 

Bobbys Corner-Open Market-March22.2011

bob-slade-forex-trading-3-150x200Good Morning:

GBP was the star of the overnight session as CPI in the UK came out almost double what analysts expected.  This will put pressure on the Bank of England to consider a bump up in interest rates.  

The Euro touched a 5 month high versus the USD as speculation that the ECB will raise interest rates next month-as the concern of inflation mounts.  Last month ECB President Trichet mentioned the rate increase-and even after the crisis in Japan, he has not changed his tone.

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