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Foreign Exchange

Bobbys Corner-Market Open-Nov.3.2010

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

Early US election results show that the Republicans took control over the House of Representatives, made gains in the Senate, and in various state houses.

We will wait and see what the shift of power in the House of Representatives will mean to the average American, but for certain, this was a call to the administration that the voters are not happy with the current “State of the Union”. 

Bobbys Corner-Market Open-Oct.28.2010

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

The dollar rally lost steam as an increase in demand for higher-yielding assets has investors interest as the market prepares for the Fed to implement QE2.
The Fed has been “asking” bond dealers and investors their projections on the impact to yields due to any new QE2 initiative.
The BOJ left interest rates unchanged, and instituted no new monetary initiatives, which left market participants looking for clear direction regarding the JPY.

Equity markets are mostly higher-as are US Futures.

Bobbys Corner-Open Market-Oct.26.2010

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

I am back from Kuwait and Qatar- and will be in Dubai and Abu Dhabi in 2 weeks-so  the  fall road trip schedule keeps getting busier.

The JPY lost some ground overnight as speculation  mounts that the Bank of Japan may reenter the marketplace to keep the Yen weak.  The thought of BOJ intervention put the markets on edge during the Asian session.
GBP jumped as GDP in the UK beat analysts estimates-thus putting the governments asset purchase program on hold-as they wait to see how consumers react as the holiday season approaches.

Bobbys Corner-Open Market-Oct.13.2010

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

I am writing to you from the Middle East Traders Expo in Kuwait City, Kuwait

The USD and JPY gave up some ground in overnight trading as the FED announced that they will start a new round of quantitative easing in November.  The FED is focused on doing all they can to sustain the US economy through a policy of monetary easing and this policy will continue to add to the downward pressure on the greenback.
The Aussie rose as positive consumer confidence down-under pushed the Aussie close to it’s record high.

Bobbys Corner-Open Market-Oct.1.2010

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

We start the 3rd Quarter with the USD weak-and and the Dow in the mid 10k level.

The USD dropped to the lowest level against the euro since March as speculation mounts that the Fed will need to act quickly to shore up the faltering US economy.
Reports that Chinese manufacturing in the world’s 2nd largest economy is expanding, and showing  strong growth for 2010.

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