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Bobbys Corner-Open Market-June.15.2010

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

With weaker than expected data from Germany (ZEW survey) and the UK (CPI), along with Moody’s downgrade of Greek bonds to virtual junk status-the Euro and GBP held up reasonably well.  Even as the Euro and GBP slumped for a time-they rebounded and now we await data from the US this morning.
Equity market gains may assist the FX markets-especially the Euro-as the gains lessen concerns about Europe’s debt problems and how they will effect global economic growth.

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