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Bobbys Corner-Open Market-March.9.2011

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

The Euro garnered some support after reports that the ECB has stepped in to buy Greek and Portuguese bonds to calm the jittery markets-this is after the yield on the Portuguese bonds rose..  The unemployment rate in Greece moved up to 14.8% from 13.9% in November , another sign that the periphery economies in the EU are still under pressure. There were also rumors that the ECB has been sniffing around and checking rates on Irish bonds as well.  

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.

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