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Foreign Exchange

Bobbys Corner-Open Market-July.8.2009

Good Morning:

The overnight FX markets were up and down most of the evening.  With no major economic data worldwide the markets traded within familiar ranges.
USD sentiment remained positive. With no majoe data due in the US-it may well be a range bound trading day.
JPY rose-as investors look for a safe haven as the  global recovery slows.

World equity markets fell-as speculation that the Group of 8- meeting in Italy will have little new ideas tto combat the ongoing worldwide recession.

Oil$62.35                        Gold:$919.80

Today’s data:
Consumer Credit:  exp: -$8.5B             prior: -$15.7B

HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-July.8.2009

Good Morning:

The overnight FX markets were up and down most of the evening.  With no major economic data worldwide the markets traded within familiar ranges.
USD sentiment remained positive. With no majoe data due in the US-it may well be a range bound trading day.
JPY rose-as investors look for a safe haven as the  global recovery slows.

World equity markets fell-as speculation that the Group of 8- meeting in Italy will have little new ideas tto combat the ongoing worldwide recession.

Oil$62.35                        Gold:$919.80

Today’s data:
Consumer Credit:  exp: -$8.5B             prior: -$15.7B

HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-7.7.2009

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

The FX markets were range bound in overnight trading.  Data from the UK and Australia were weaker than expected.
No major data in the US -may have the FX markets following equities today.

European equities rose on the heels of a rise in manufacturing orders in Germany.  Asian markets were lower. 

Oils and metals were higher-as were most commodity markets. 

Oil:$64.63                Gold:$930.30

HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open MArket-7.6.2009

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

The dollar and JPY rose while GBP and Euro fell as concerns over monetary policy, and risk aversions added to the market reactions on this Monday morning.  Many investors are absorbing last weeks unemployment data-which showed that any economic recovery is coming about slowly.

Equity markets fell and Oil and metals (along with many commodities) dropped as speculation that the global economic recovery is going to be much slower than expected.

Bobbys Corner-Open Markets-July 3, 2009

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

The dollar headed for a weekly gain-as speculation throughout the markets increased that the worldwide economic recovery is faltering-thus boosting demand for the greenback.

Asian and European equity markets-as lower commodity prices.  US markets are closed for the July 4th holiday.

HAVE A GREAT DAY-GREAT WEEKEND & GOOD LUCK
for those in the US- HAVE A HAPPY JULY 4TH holiday.

Bobbys Corner-Open Market-7.2.2009

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

The dollar rose after comments from China stating that the USD is the world’s reserve currency.  Weaker than expected economic data from the UK and EuroZone added to the greenback rise.

European equity markets are lower-and US Futures are pointing to a lower opening this morning.  Asian markets were mixed.

All eyes will be on this morning’s Employment data.

Oil:$68.19                   Gold:$934.60

Bobbys Corner-Open Market-7.1.2009

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

The JPY lost ground overnight as the Tanken Survey (a index of sentiment from Japan’s  largest manufacturers), printed higher than expected-thus showing that the economy remains in a slump.

European equities rose-as are US Futures-Asian markets were mixed.
Oil and metals also rose.

Oil:$71.12                      Gold:$932.10

Bobbys Corner-Open Market-6.30.2009

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

The USD was a touch weaker overnight as EUR/USD traded in the 1.41 handle,
and GBP/USD traded in the 1.67 handle.

European equity markets are slightly lower-while Asian markets were mixed.
US Futures are a little higher-looking for a positive opening for the Dow and S&P.

Oil:$72.00                          Gold:$946.80

Bobbys Corner-Open Market-6.29.2009

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

China’s statement that they have ruled out any “sudden changes” to it’s foreign -reserves policy helped European equities rally.  Asian markets were mixed-and US Futures are pointing to a higher opening.   The dollar gained after the comments. 

It is in China’s best interest to maintain the USD value.  Not only because they hold $2 Trillion of US debt-but they also have a massive trade surplus with the US.

Oil:$69.97                        Gold:$941.40

Bobbys Corner-Open Market-6.26.2009

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

The USD slid after comments from China’s central bank calling for a “super sovereign currency”.   This call for a international reserve currency would eliminate the dependency on the dollar as the world’s reserve currency. The central bank also hinted that the country’s financial sector may be in for a difficult year.

World equities were higher-but their gains were overshadowed by China’s announcement.  US futures are a bit lower at this time.

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