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Bobbys Corner-Open Market-Nov.30.2010

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

I am returning from an extended Thanksgiving Holiday-I hope all of you in the US enjoyed the holiday-and for the rest of the world-the markets are now back on a regular schedule.

Bobbys Corner-Open Market-Nov.24.2010

bob-slade-forex-trading-7-150x200Good Morning:

The euro continued to trade lower as the the sovereign debt issues in the EU continue to be a concern for the marketplace.
Standard & Poors lowered Ireland debt rating by 2 steps along with a negative outlook, as the Irish government looks for a “bailout package” from the IMF and EU.  The guesstimate is that the bailout nay reach 85-100 billion euros.

In other sovereign debt news, Portugal is facing its biggest strike in nearly 22 years to protest government austerity plans in the wake of their debt crisis.

Bobbys Corner-Open Market-Nov.23.2010

bob-slade-forex-trading-5-150x200Good Morning:

The USD along with the CHF rose after news of North and South Korea exchanging artillery fire across their border.
South Korea announced that 2 soldiers died, and up to 15 soldiers were wounded, as North Korea fired about 100 shells onto Yeonpyeong Island in the Yellow Sea.  Speculation is that this military action by North Korea was in response to the US and their allies negative comments over the North’s uranium enrichment program.

Bobbys Corner-Open Market-Nov.22.2010

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

The Irish debt issue is the top story this Monday morning. Ireland is the second EU nation that needs to be officially “rescued” by the IMF and European Union-thus stopping a run on their banks hopefully.  Moody’s stated that they may need to lower Irish debt more than anticipated, as the aid plan may actually increase Irish debt in the short term.  The ECB bought Irish bonds today, and we will most probably see an increase in sovereign bond purchases.

Bobbys Corner-Open Market-Nov.19.2010

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

The Euro showed some strength overnight-as speculation mounts that the “bailout” for Ireland will control the debt crisis in the EU from getting worse.  An agreement on the rescue  plan will help markets stabilize, and keep the fear factor at a minimum.
The USD lost steam as Fed Chairman Bernanke defends the current QE2 program to stimulate the faltering US economy.

Bobbys Corner-Open Market-Nov.18.2010

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

The Euro picked up overnight-as speculation that Ireland will receive a bailout (or aid package if you wish), which will hopefully prevent contagion in the EU’s other sovereign states.  A package for Ireland would most certainly lead to calmer markets, which will be positive for the Euro.
The Fed’s QE2 program which will purchase $75 Bil of US Treasuries per month will hopefully spur employment and inflation in a move to  get the US economy back on solid ground.

Bobbys Corner-Open Market-Nov.17.2010

bob-slade-forex-trading-7-150x200Good Morning

I am back in the US after another 2 week trip to the UAE-where we visited with clients in Dubai and Abu Dhabi.

There have been  a slew of  fundamental variables in the last few weeks which have moved the markets.  The US elections, renewed concerns over European sovereign debt problems (Ireland,Spain,Greece etc.), China’s aggressive stance regarding their economy and the Yuan, comments by world central bankers regarding reserve currencies, along with the G-20 meeting which produced no solid agreements, are just a few of them.

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