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Bobbys Corner-Open Market-Oct.10.2012

Good Morning:

A fairly lackluster overnight session-with the majors showing no real activity.

Fitch Ratings commented that the US fiscal cliff, EU crisis, and a potential “hard landing” for the Chinese economy will be
a risk to the global economy.  Thanks-I think we knew that!

Bobbys Corner-Open Market-October 14.2011

Good Morning:

FX markets prepare themselves for this weekend’s G-20 meeting, and expectations are high that the Euro Zone will come up with a meaningful monetary plan to deal with the regions sovereign debt issues.

Moody’s Places Italy on Review for Downgrade

Moody’s places Italys AA2 ratings on review for possible downgrade.

Italy’s Top Union Chief on the Newswires

Italy’s top union chief making June 25 the date for the national strike against the budget.

IMF on the Newswires

  • says Italy’s economy set for ‘gradual recovery’
  • says Italy has ‘high public debt’ and ‘low income growth’
  • says Italy’s banks weathered crisis ‘relatively well’
  • Italian banks may face ‘number of chalenges’ medium term
  • board urges Italy to strengthen banks capital
  • says Italy recovery to be ‘gradual’ banks face challenges

Bobbys Corner-Open Market-May.26.2010

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

The euro continues to trade under pressure as speculation rises that the  the Euro Zone’s debt problems will derail economic growth within the region.  The single surrency weakened as data from Germany showed consumer confidence in the Euro Zone’s largest economy fell, and consumer spending in France  saw a decline.   
Italy’s government approved 26 billion euros worth of budget cuts, as they also struggle to control their deficit.
Markets are also keeping an eye on the political tensions rising on the Korean peninsula.

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