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Bobbys Corner-Open Market-Aug.8.2011

Good Morning:

Nervous and choppy markets greet us this morning (and last night)-with Dow futures off over 200 points, S&P off 24, NASDAQ off 45.
Gold has hit another all time record (over $1700/oz), and oil is lower again.
This was widely expected after Friday afternoon announcement by S&P that the USA’s credit rating was going to be downgraded to AA+ from AAA.

Bobbys Corner-Open Market-Feb.4.2011

bob-slade-forex-1-150x200Good Morning:

A quiet session overnight before this morning’s US employment data.

The USD stayed near it’s weekly high, as speculation that the employment data this morning will show that the US added more jobs. 
The majors traded in narrow ranges as traders squared up positions before this morning’s release.
With a large blizzard that caused problems throughout a big section of the country during the time that the US government gathers the NFP data-the numbers this morning may be a bit misleading.  We will wait and see.

Bobbys Corner-Open Market-Feb.1.2011

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

Welcome to February.  We will see what the groundhog says tomorrow. 

We start the day with news out of Egypt-protesters started to gather in Cairo’s Tahir Square as they prepare for today’s million people march.  The Egyptian military has promised not to fire on marchers, and the newly appointed Vice President is open to starting a dialogue with the opposition.
News that S&P also lowered Egypt’s credit rating was no surprise to investors.

Bobbys Corner-Open Market-Jan.20.2011

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

A busy overnight session-as equity and commodity markets fell as concerns that China’s continued growth may cause global interest rates to move higher.  Though investors are not looking at this as a
instant threat-the concerns are there.
Commodity currencies turned lower, on the heels of an overall decline in commodity prices   

Bobbys Corner-Open Market-Jan.7.2011

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

In what is normally a quiet session prior to US employment data (due out at 8:30 AM today)-the Euro lost ground to the USD as data from the EZ (Retail Sales,Trade Balance and GDP) missed expectations.

US employment data is expected to show an increase in jobs-which is adding to the markets optimism that the US economy is gaining traction and looks to gets stronger in 2011.  Hopefully this optimism will also be shared by the business community-thus resulting in new hiring.

Bobbys Corner-Open Market-Dec.20.2010

Good Morning:

As we start a new week, the euro is losing ground amid speculation that the ability for EU nations to raise fresh investment capital may be dwindling after many nations within the Euro Zone have been, or are being targeted for downgrades by the major rating companies.   Last week alone Moody’s lowered Ireland credit rating by 5 levels, and placed Greece on review for a possible downgrade .  S&P put Belgium on negative a watch list.
News that France’s AAA rating may be in jeopardy is also causing pressure on the single currency.

Asian equity markets were lower-European markets are higher (even as concerns regarding the EU’s debt issues plague the marketplace), as are US Futures at this time.

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