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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-August.25.2010

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

Alert!: Durable Goods rises .3%-the data was expected to rise 3%.
The data points to continued speculation that the economy is slowing.

Bobbys Corner-Open Market-July.22.2010

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

The USD traded weaker in overnight markets.  With Fed Chairman Bernanke’s statement yesterday that the economic outlook is “unusually uncertain”, along with speculation that this morning’s US data will show an increase in jobless claims, and a drop in home sales, the greenback had no place to go but lower.
Another factor in the weaker USD is that the UK posted better than expected retail sales (the largest gain in 5 months), along with positive data in both manufacturing and services in the Euro Zone for the month of July.

Bobbys Corner-open Market-July.9.2010

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

The dollar ends the week on a weak note.  EUR/USD traded as high as 1.2722 by the end of  the Asian session last night.
The markets seem to feel that the EZ’s stress test of the regions banks will reassure investors regarding the security of the financial sector.
JPY was lower again-as market sentiment is that the global recovery is gaining more traction-thus waning the demand for the safety of the JPY.

Bobbys Corner-Open Market-May.14.2010

bob-slade-forex-trading-7-150x200Good Morning:

The Euro tumbled below 1.25 as investors fear that the austerity measures that are being placed on countries with sovereign debt issues will delay economic growth in the Euro Zone.  The austerity plans are very positive for the long term-but they will have a negative effect-as  domestic economies within the EZ suffer in the short term.
The GBP  also fell as speculation that the newly formed government coalition will not be strong enough to work out the countries budget deficit problems.

Bobbys Corner-Open Market-April.16.2010

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

The JPY and USD rose as investors sought the safe haven of these currencies, as  Greece has asked for a meeting with the EU, IMF and ECB, and China took additional steps to slow down their economy

Greece’s debt issues are also adding additional pressure to the Euro and to the Euro Zone’s economy in general.
The EZ is hoping to prevent the first default of a member  nation-and have pledged 30 Bil euros  in loans, and the IMF will offer 15 Bil euros in outright funds.

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