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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.

Bobbys Corner-Open Market-Feb.3.2011

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

The USD gained overnight ahead of US data due out today (ISM), which is expected to show that the service sector has increased again, and tomorrows employment data which is expected to show an increase in hiring.
As expected the ECB left interest rates uncharged-and President Trichet will hold a press conference later this morning.
Cable had a good showing overnight with positive data on the UK’s service sectors, raising speculation that the BOE may have some room to raise interest rates later this year.

Bobbys Corner-Open Market-Feb.1.2011

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

Welcome to February.  We will see what the groundhog says tomorrow. 

We start the day with news out of Egypt-protesters started to gather in Cairo’s Tahir Square as they prepare for today’s million people march.  The Egyptian military has promised not to fire on marchers, and the newly appointed Vice President is open to starting a dialogue with the opposition.
News that S&P also lowered Egypt’s credit rating was no surprise to investors.

The FXDD Trading School - 4 PM ET, Tuesday February 1st


The FXDD Trading School will commence on Tuesday at 4pm with Greg Michalowski and Shawn Powell.  This will be the first class in a 16 class curriculum that will run over the next two months. 

Lesson 1:
The Tool of the Trade: Using the MetaTrader Platform

Bobbys Corner-Open Market-Jan.31.2011

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

We wake up this morning with the situation in Egypt very much on the forefront of all world news events.
Moody’s Investors Service downgraded Egyptian government debt, which was highly anticipated.  The outlook is negative, and Egyptian debt sales have been put on hold.  Egypt’s banks and stock market were closed for the second day-as tens of thousands take to the street for the 6th day of protests against President Mubarak.
Risk is off the table for now-as investors pursue safety.

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