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Foreign Exchange

Bobbys Corner-Open Market-Jan.24.2011

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

USD strengthened as profit takers took center stage in the first session of the week.  Improved earnings reports also aided the USD.  This weeks data which includes durable goods, consumer confidence, and US growth will hopefully show that the US economic recovery is finally showing signs of recovery. Speculation is that the positive data that is expected will be dollar positive for the markets.

Asian equity markets were mixed, European markets are lower-and US Futres are slightly higher at this time.

Bobbys Corner-Open Market-Jan.21.2011

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

We awaken to another snowy day in New York.

In a choppy overnight session the Euro picked up some steam on the heels of better than expected German business confidence.  The IFO data was also the highest level reported since Germany was reunified in 1991. Better than expected earnings from General Electric and Google also helped lift the single currency, as did the continued optimism that the EU will find a long term solution to the sovereign debt issues that have plagued the region.

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.19.2011

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

Risk appetite is again the flavor of the day.

EUR/USD topped the 1.35 handle-before profit takers took advantage of the price and drove the pair back down into the mid 1.34 levels.  The pair is back over 1.35 at this time.
Good results by both IBM and Apple helped lead the risk rally.  Selling by Asian central banks limited the rally.

This morning we have data on the US Housing market-speculation is that we will see disappointing data again in this sector-which also added to the USD downturn overnight.

Bobbys Corner-Open Market-Jan.12.2011

Good Morning:

I am writing the Cbob-slade-forex-2-150x200orner from home today-as my area is the victim of another major snow storm -oh-well-that is what happens in the winter in the Northeast of the US.

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