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Bobbys Corner-Open Market-Aug.4.2011

Good Morning:

We start the morning off by noting that both the ECB and Bank of England left their benchmark interest rates unchanged today.
This was highly expected even though the UK economy continues to show signs of  faltering , and the EU has a debt  crisis that is not going away anytime fast.

Bobbys Corner-Open Market-Aug.3.2011

Good Morning:

The Swiss National Bank seems to have had enough of the recent strength of the CHF, and they came out swinging as they cut rates in a surprise move to the marketplace.  The franc fell after the announcement, as the Swiss government is concerned that the strength of the franc will undermine the county’s economic recovery.
Analysts feel that the rise in the CHF will only be temporary-as the franc is used as a refuge in uncertain times.  Until the nervousness in the markets slow, (which there is no sign of in the immediate future), the franc will continue to attract investors. 

Bobbys Corner-Open Market-Oct.26.2010

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

I am back from Kuwait and Qatar- and will be in Dubai and Abu Dhabi in 2 weeks-so  the  fall road trip schedule keeps getting busier.

The JPY lost some ground overnight as speculation  mounts that the Bank of Japan may reenter the marketplace to keep the Yen weak.  The thought of BOJ intervention put the markets on edge during the Asian session.
GBP jumped as GDP in the UK beat analysts estimates-thus putting the governments asset purchase program on hold-as they wait to see how consumers react as the holiday season approaches.

Bobbys Corner-Open Market-Sept.16.2010

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

The Euro saw gains across the board in overnight trading.  With  decent Spanish  bond auction results, strong buying of EUR/GBP cross on the heels of very poor UK retail sales,  buying of EUR/JPY as the BOJ is still buying USD/JPY, along with trade data from the Euro Zone which was much better than expected, all assisted in the Euro rally.
The Swiss National Bank left rates steady-to  help keep any chance of an economic recovery on track.

Bank of Japan on the Wires

Bank of Japan is considering additional steps to loosen monetary policy of the Nikkei.

Bobbys Corner-Open Market-Dec.18.2009

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

The JPY lost  ground against overnight after the BOJ (Bank of Japan) made comments and indicated that they will leave interest rates near zero.
The Euro had some positive action overnight-as German Business Confidence (IFO) rose last month.

European equity markets are higher this morning.  US Futures are also pointing to a higher opening this morning.
Asian equity markets closed lower.
Commodities are also higher at this time.

Oil:$73.96                             Gold:$1108.10

No major data today.

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