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Forex Market Outlook 10/13/11

By Mike Conlon, on Oct 13, 2011

Yesterday’s release of the FOMC meeting minutes was a complete dud and market hopes that the Fed was close to QE3 went unrealized. Part of that hope came from Bernanke’s speech to the Joint Economic Committee earlier this month, but it seems as though that mention of further easing was intended to keep the markets from falling off a cliff.

Yet they are no closer to QE3 then previously thought, so the “free money trade” will have to wait for another day or for the economy to worsen dramatically, which is not out of the realm of possibility if the EU fails to meet their deadline on the debt crisis resolution. The clock is ticking.

Forex Market Outlook 10/12/11

This morning has started with risk appetite driving markets higher, with Dollar and Yen weakness acting as either a by-product or catalyst of the move. Regardless of who or what is leading the charge, a sense of calm is starting to return to the markets and they looked poised for a 4th quarter rally into the end of the year.

Forex Market Outlook 10/11/11

By Mike Conlon, on Oct 11, 2011 01:26:22 GMT

This morning all eyes are on the tiny nation of Slovakia who is wielding enormous power in that they are voting on whether or not to ratify the expansion of the EFSF in the Euro zone as part of the July 21st agreement. There must be unanimous agreement among all 17 Euro nations or the process could be derailed. While the market is expecting this vote to pass, there is some trepidation until it is a done deal.

So the markets have started the morning in mild risk-aversion mode after yesterday’s tremendous move higher in stocks and commodities. The S&P 500 had its largest daily gain in nearly 2 months on a light-volume session due to the Columbus Day holiday here in the US with the bond market closed.

Bobbys Corner-Open Market-Sept.2.2011

Good Morning:

Investors and traders worldwide will be awaiting this morning’s release of US employment data at 8:30 AM EST.

The US has a national holiday on Monday-Labor Day.  Most US markets will be closed-but the FX market will be up and running.

Bobbys Corner-Open Market-Aug.31.2011

Good Morning:

I am returning from a bit of vacation-and the aftermath of Hurricane Irene.  We lost power for 3 days, and a few trees-but no major damage, and everyone is safe and healthy-which is the most important. 

ADP reported that the private sector added 91K new jobs-a little less than the 100k that was expected.    

All eyes will be on this Friday’s unemployment data,  and Non Farm payroll numbers.

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