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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”

Bobbys Corner-Open Market-March.10.2011

bob-slade-forex-trading-5-150x200Good Morning:

Moody’s downgraded Spain from Aa2 to Aa1-with a negative outlook. 

  • Cites concerns over sustainability of Spanish govt finances
  • Sees background of only moderate Spanish growth short-medium term
  • Spain still has high vulnerability to market disruption
  • Total cost of bank restructuring likely around 40-50 blnAs expected the Bank of England left interest rates unchanged.

    World equity markets were and are lower-as are US Futures.

Bobbys Corner-Open Market-Feb.17.2011

bob-slade-forex-trading-4-150x200Good Morning:

The Yen took center stage in overnight trading-as speculation that the unrest in the Middle East will continue and spread throughout the region-thus the demand for safer assets will grow.  The nervousness through the Middle East was further increased today-as reports that Iranian warships on their way to Syria are looking to pass through the Suez Canal.  Currencies that are perceived as safe havens will be the winners in the near future-until geopolitical issues calm down.

BOE Osborne sees rates lower for longer

The BOE Osborne is on the newswires saying the central bank has freedom to keep rates lower for longer

Bobbys Corner-Open Market-July.8.2010

bob-slade-forex-trading-4-150x200Good Morning:

Both the ECB and BOE left interest rates unchanged, which was highly expected in the marketplace.  Australian employment data printed at 45.9k  versus 15.3K-and the unemployment rate declined to 5.1%.  The Australian economy continues to surge ahead-as the rest of the world tries to keep up with their positive economic momentum.

Bobbys Corner-Open Market-June.10.2010

bob-slade-forex-trading-6-150x200Good Morning:

Congratulations to the Chicago Blackhawks for winning the Stanley Cup by defeating Philadelphia 4-3 in overtime last night.  The Chicago fans have been waiting since 1961 for a NHL championship-Congratulations.

Bobbys Corner-Open Market-March.4.2010

bob-slade-forex-trading-4-150x200Good Morning:

Both the BOE kept interest rates steady.  BOE did not expand it’s asset purchasing program which was expected.
The ECB also left interst rates unchanged-and will have a conference call at 8:30 AM.
Greece began selling 10 year bonds today-pricing them with a yield of 6.39% vs.6.1% on their current bonds.
Greece’s prime Minister has promised to reduce their budget deficit by cutting spending and wages.  Today protesters occupied the finance ministry as a protest against the new proposals.

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