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Bobbys Corner-Open Market-April.26.2011

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

The USD got knocked back again in overnight trading.   Speculation that the Fed will keep interest rates low to help support the US economy is not dollar positive-and the markets have reacted as such. With Chairman Bernanke expected to keep policy and interest rates steady-USD weakness will continue.

CHF rose as investors continue to worry about sovereign government concerns in both Libya, and Syria-thus causing a rush to the safety of the Swiss Franc.

Bobbys Corner-Open Market-April.21.2011

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

The USD saw more weakness overnight, posting across the board losses.
The Aussie jumped to a new high as better than expected PPI data and business sentiment reading helped lead the charge.
The Euro rose over 1.4640-but stabilized after IFO data should a slight decline for the 2nd month in a row.
GBP climbed easily  over the 1.6550 handle as UK retail sales printed better than expected.

Bobbys Corner-Open Market-April.20.2011

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

Risk took center stage in overnight FX markets.  Euro was strong after a robust Spanish bond auction-and positive flows from Asia.
Aussie was the main attraction-as the AUD/USD pair rose to a new post float high of 1.0685.  The GBP took a back seat as dovish comments from the BOE showed that interest rates may not be rising any time soon.
The JPY lost some ground-as commodities and equity markets gained overnight.

Bobbys Corner-Open Market-April.19.2011

bob-slade-forex-trading-8-150x200Good Morning:

The euro rose overnight versus the USD and JPY as data showed that Germany’s manufacturing growth rose unexpectedly.  This adds to the markets speculation that the ECB will need to raise interest rates in the near future.
In other EU news-yields on Greek 2 year notes rose to 20%-as investors realize that the country will need to restructure it’s debt.
Down-under-the RBA seems to be content with rates where they are-and the Aussie will likely be driven by market activity-rather than any fundamental news from Australia.

Bobbys Corner-Open Market-April.11.2011

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

We start the week on a quiet note in the FX markets.  It was a fairly uneventful overnight session-with very little on the global calender-and nothing on North America’s calender today-the markets may be like a boat without a driver today-just  floating in the water.
The only notable event today is that Fed Vice Chairman Yellen will give a speech to the Economic Club of New York this afternoon.  Over the weekend Ms. Yellen made comments that it is to soon to lift the Fed’s “accommodating policy”.

Bobbys Corner-Open Market-April.8.2011

bob-slade-forex-trading-8-150x200Good Morning:

We start tocb,iday with President Obama demanding a budget deal being agreed on-as a US government showdown looms on the horizon.
The US government will shut down at midnight tonight if no deal is reached.
If no agreement is reached-the US will shut down all non-essential agencies, and will furlough 800,000 federal employees.
This would be the first shutdown in 15 years, and would close national parks, IRS paper tax returns would be unprocessed, passport services would be closed, along with a slew of other government services.

Bobbys Corner-Open Market-April.4.2011

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

A fairly lackluster start to the week-with no real changes in the majors, and crosses showing very little real net change.
Friday’s good US employment data may begin to prompt the FED to remove some of the “accommodating bias” rhetoric in their statements-but if we see a better employment  data, along with true growth-the FOMC will need to begin to change it’s course of monetary action  sooner than later.

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