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Bobbys Corner-Open Market-March.8.2011

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

Continued sovereign debt concerns pushed the single currency lower in overnight trading.  Bonds from the most indebted countries in the EU declined versus their German counterparts.  The markets are nervous that the members of the EU will not agree to a comprehensive debt crisis solution anytime soon.  Leaders from the region are expected to meet again later this month to try and tackle the debt issues.
Oil traded lower, and the Swiss Franc lost some ground, as investors demand for the currency as a safe have waned.

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.

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