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Foreign Exchange

Bobbys Corner-Open Market-Dec.22.2010

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

Today we are awaiting the final GDP data for Q3.  The markets anticipate a higher than previously estimated number.
The USD was a touch softer as investors look for higher-yielding assets as the economic picture globally is looking a little brighter.
The euro was stronger after Germany announced that import prices rose 10% over a year ago.
Cable was lower after data in the UK showed that they British economy grew at a slower pace than originally estimated.

Bobbys Corner-Open Market-Dec.21.2010

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

Moody’s Investor Services stated today that they may be looking at a rating downgrade for Portugal, as they state that “sluggish” growth in Portugal will be the main culprit in any upcoming downgrade.
Comments from China that they have taken “concrete action” to ease the sovereign debt crisis, and that China backs  the EU’s efforts to ensure financial stability helped the Euro maintain throughout the morning trading session. 

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.

Bobbys Corner-Open Market-Dec.17.2010

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

We end the week with Moody’s Investor Services downgrading Ireland’s credit rating.  Moody’s downgraded Irish credit by 5 levels, with further downgrades possible.
Portuguese bonds slipped after the Moody’s downgrade. 
In a meeting in Brussels, EU leaders are about to agree to a system that would hopefully contain future debt issues from causing a crisis.

Bobbys Corner-Open Market-Dec.14.2010

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

The dollar gave up some ground as the Fed meets today-and speculation mounts that they may consider buying more bonds to bolster the faltering US economy. Moody’s made comments that President Obama’s agreement to extend tax cuts may raise the chance of a negative outlook for the US’s Aaa rating.

Fed rate decision and comments at 2:15 PM this afternoon.

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