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Foreign Exchange

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-Jan.6.2011

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

The USD continued to trade stronger in the overnight sessions.  Concerns that the slow recovery in some EU countries will keep the debt crisis on the front burner for some time to come.  China stated that it will buy 6 billion euro of Spanish debt.  Investors will be looking to see if China’s purchases can calm speculators-or will Spain be the next recipient of an EU bailout?

 World equity markets traded higher-and US Futures are also pointing to a higher opening this morning.

Bobbys Corner-Open Market-Jan.4.2011

bob-slade-forex-trading-6-150x200Good Morning:

The first full trading day of 2011 got underway with risk on the plate as the main course.  With all of the major centers back after the New Years holiday-the equity markets were poised for a rally after yesterday’s 90+ point increase in the Dow to start off 2011.

Bobbys Corner-Open Market-Jan.3.2011

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

Welcome to the first trading day of 2011.  I want to wish everyone a Happy & Healthy New Year.

With a slow start to the new trading year-as Japan, and many European centers still on a bank holiday until tomorrow -the markets will resume where we left off at the end of 2010.

Bobbys Corner-Open Market-Dec.30.2010

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

The USD was a touch lower in overnight trading.  With major currencies having tight monetary policy, the emerging market currencies seem to be the biggest gainers in the marketplace. 
The Fed has reiterated their near zero interest rate policy, along with Japan.  The EU is in termoil over their sovereign debt problems, and China is still growing by leaps and bounds.  All these components will be the center piece of 2011’s foreign exchange markets.

Bobbys Corner-Open Market-Dec.29.2010

bob-slade-forex-trading-6-150x200Good Morning:

I am back in town after being stuck in the snow at my house for the past 2 days.
As much as it is 2010-it is still amazing that 2 feet of snow paralyzes an entire region for days.

 The markets are really quiet-as the week between Christmas and New Years is historically a quiet time-the snowstorm that hit the east coast added to the quietness, as many participants are stuck (or just decided to stay) at home.

China announced an interest rate increase which was highly expected by the marketplace. 

Bobbys Corner-Open Market-Dec.23.2010

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

The dollar lost some steam as speculation that data out of the US this morning  (see below) will show that the economic recovery in the US is gaining traction-thus having investors seek higher-yielding assets versus the safe haven of the greenback.
With the S&P 500 Index hitting levels that have not been seen since the collapse of Lehman Brothers, investors are being open to adding more risk to their portfolios.
On another note-Fitch ratings cut Hungary’s credit rating to BBB- from BBB.

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