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Forex News

Bobbys Corner-Open Markets-July 3, 2009

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

The dollar headed for a weekly gain-as speculation throughout the markets increased that the worldwide economic recovery is faltering-thus boosting demand for the greenback.

Asian and European equity markets-as lower commodity prices.  US markets are closed for the July 4th holiday.

for those in the US- HAVE A HAPPY JULY 4TH holiday.

AUD AIG Services Index

AUD AIG Services Index came out at 50.2, with very little change on the AUD pairs. This is also the first expansionary indicator for this reading since March of 2008.

Bobbys Corner-Open Market-7.2.2009

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

The dollar rose after comments from China stating that the USD is the world’s reserve currency.  Weaker than expected economic data from the UK and EuroZone added to the greenback rise.

European equity markets are lower-and US Futures are pointing to a lower opening this morning.  Asian markets were mixed.

All eyes will be on this morning’s Employment data.

Oil:$68.19                   Gold:$934.60

US Non Farm Payroll report to be released at 8:30 AM

The important Non Farm Payroll will be released at 8:30.  The expectation is for a decline of -365K. The unemployment rate is expected to rise to 9.6%.  The Manufacturing sector is expected to show a decline of 150K.  The Average weekly hours is expected to remain at 33.1, a record low level. 

Last month the tide turned with the NFP rising to -345 from -504 the month before and prior to that a string of numbers above -600K.  The trough was -741K job losses in January. Since January 2008 when the current job recesssion started, 6 million people have lost their jobs.   The unemployment rate has increased from 4.9% to the current 9.4%.

Bobbys Corner-Open Market-7.1.2009

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

The JPY lost ground overnight as the Tanken Survey (a index of sentiment from Japan’s  largest manufacturers), printed higher than expected-thus showing that the economy remains in a slump.

European equities rose-as are US Futures-Asian markets were mixed.
Oil and metals also rose.

Oil:$71.12                      Gold:$932.10

Bobbys Corner-Open Market-6.30.2009

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

The USD was a touch weaker overnight as EUR/USD traded in the 1.41 handle,
and GBP/USD traded in the 1.67 handle.

European equity markets are slightly lower-while Asian markets were mixed.
US Futures are a little higher-looking for a positive opening for the Dow and S&P.

Oil:$72.00                          Gold:$946.80

Bobbys Corner-Open Market-6.29.2009

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

China’s statement that they have ruled out any “sudden changes” to it’s foreign -reserves policy helped European equities rally.  Asian markets were mixed-and US Futures are pointing to a higher opening.   The dollar gained after the comments. 

It is in China’s best interest to maintain the USD value.  Not only because they hold $2 Trillion of US debt-but they also have a massive trade surplus with the US.

Oil:$69.97                        Gold:$941.40

Bobbys Corner-Open Market-6.26.2009

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

The USD slid after comments from China’s central bank calling for a “super sovereign currency”.   This call for a international reserve currency would eliminate the dependency on the dollar as the world’s reserve currency. The central bank also hinted that the country’s financial sector may be in for a difficult year.

World equities were higher-but their gains were overshadowed by China’s announcement.  US futures are a bit lower at this time.

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