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Forex News

Bobbys Corner-Open Market-Oct.10.2012

Good Morning:

A fairly lackluster overnight session-with the majors showing no real activity.

Fitch Ratings commented that the US fiscal cliff, EU crisis, and a potential “hard landing” for the Chinese economy will be
a risk to the global economy.  Thanks-I think we knew that!

US Import Price Index and Current Account Both Lower

US Import Price Index and Current Account Both Lower

Current Account Balance:  Survey: -115.0B   Actual:  -124.1B    Prior: -110.3B   Revised: -107.6B

Index(MoM):  Survey:  0.6%    Actual:  0.4%    Prior:  0.3%    

Import Price Index(YoY):  Survey: 5.8%    Actual: 5.5%    Prior:  7.1%

US Business Inventories Improve, Continue Positive US Data Today

Business Inventories:    Survey:  0.5%      Actual: 0.7%    Prior: 0.4%

Jan. 12 vs. Dec. 11
Business Inventories Breakdown:

Retail Inventories:   1.1% vs  0.5%
Ex-Autos:   0.4% vs. 0.4%
Motor Vehicles:   2.6% vs. 0.6%
Furniture:   0.4% vs. 0.3%
Building Material:   1.1% vs  -0.4%
Food & Beverage:   0.4% vs  0.4%
Clothing:   0.8% vs 0.0%
General Merchandise:   0.3% vs  1.6%
Dept. Stores:  -1.1% vs 1.6%

IBD/TIPP Economic Optimism:     Survey: 48.6      Actual:  49.4     Prior: 47.5

US Retail Sales Figures Prove Positive

Advance Retail Sales:  Survey:  1.1%   Actual: 1.1%   Prior:   0.4%    Revised:   0.6%

Retail Sales Less Autos:  Survey:  0.7%    Actual:  0.9%     Prior:  0.7%   Revised: 1.1%   

Retail Sales Ex Autos & Gas:   Survey:  0.5%    Actual:  0.6%   Prior: 0.6% Revised: 1.0%

ECB’s Presidnet Draghi Speaking


  • Steadfast commitment to price stability
  • Governments need to compliment the work of the ECB
  • In his speech he will focus on competitiveness
  • Continued signs of ECB stabilization
  • The situation in the financial markets has improved after LTRO
  • Countries should use this phase to make progress
  • Banks should retain earnings
  • Financial system should serve real economy
  • Growth will be supported by low short term rates

Canada Unemployment Falls to 7.4%

Canada Unemployment  Falls to 7.4%

Change in Employment – Survey: 15.0K   Actual: -2.8K   Prior: 2.3K

  • Unemployment Rate – Survey: 7.6%   Actual: 7.4%   Prior: 7.6%

Canada Housing Starts Improve to 201.1K

Canada Housing Starts Improve

Canada Housing Starts:   Survey: 200.0K   Actual: 201.1K  Prior: 197.9K  

USD/CAD stays flat on the news.


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