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Forex

Bobbys Corner-Open Market-Feb.28.2011

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

The USD dropped to the lowest level since November 2010-as speculation that the Fed will continue to maintain it’s economic stimulus program weighed heavily on the dollar.
The Euro moved higher-as markets participants anticipate that the ECB may signal that they are looking to increase interest rates. Higher than anticipated inflation in the EU is prompting the ECB to look at increasing borrowing costs in the region.
If this is the case-than the interest rate differential will widen-which will be negative for the greenback.

Bobbys Corner-Open Market-Feb.17.2011

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

The Yen took center stage in overnight trading-as speculation that the unrest in the Middle East will continue and spread throughout the region-thus the demand for safer assets will grow.  The nervousness through the Middle East was further increased today-as reports that Iranian warships on their way to Syria are looking to pass through the Suez Canal.  Currencies that are perceived as safe havens will be the winners in the near future-until geopolitical issues calm down.

Bobbys Corner-Open Market-Feb.10.2011

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

As expected the Bank of England left interest rate s along with their QE program unchanged.
Portuguese bond yields rose-and the ECB was aggressively buying them up.  The spread between Portuguese and German  10 year government bonds has widened again-now at 420 bps.  This is still not as wide as the spreads got when Greece was in the early stages of their debt crisis. 

With global equity markets mostly lower-the greenback rose as demand for the safety of the US currency was the main event in the FX markets overnight.

Bobbys Corner-Open Market-Feb.7.2011

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

Rising corporate earnings, reduced tension in Egypt, global growth growing faster than expected were all causes for the JPY to lose ground overnight-as investors seek higher-yielding assets.
Almost 2/3 of companies reported better than expected Q4 earnings.. India made comments that they expect their economy to grow the most in 3 years, while Indonesia’s economy grew at the fastest pace in 6 years.  Overall investors confidence grew after Egypt’s government met with opposition leaders to hopefully resolve the crisis.

Bobbys Corner-Open Market-Feb.4.2011

bob-slade-forex-1-150x200Good Morning:

A quiet session overnight before this morning’s US employment data.

The USD stayed near it’s weekly high, as speculation that the employment data this morning will show that the US added more jobs. 
The majors traded in narrow ranges as traders squared up positions before this morning’s release.
With a large blizzard that caused problems throughout a big section of the country during the time that the US government gathers the NFP data-the numbers this morning may be a bit misleading.  We will wait and see.

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