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Bobbys Corner-Open Market-April.28.2010

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

Europe’s continuing debt crisis is worsening as Greece was downgraded to junk status, and the cost of borrowing rose for the other PIGS countries (Italy,Portugal,Spain, and Ireland).  In the meantime, German Chancellor Terkel delays approval of the Greek rescue package.
The Euro traded to a near one year low against the USD as speculation mounts that the EU/IMF bailout for Greece will be insufficient, and that the sovereign debt issues will spread to neighboring EU countries. 

Bobbys Corner-Open Market-April.21.2010

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

The Euro continues to be weak-the spread on Greek/German 10 year bond spread widens to 502bps-a 12 year high.
The markets seem to react to any negative news from the EZ-but does not react to any positive data.  The markets are bracing for Greece to actually start to draw down on some of the aid that is being made available by the IMF and EU.
Speculation is that the ECB will not begin raising interest rates until next year-as the region struggles to curb the sovereign debt issues in Greece, Spain, and Portugal.

Bobbys Corner-Open Market-Feb.11.2010

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

I am back in the office after 12 + inches of snow hit the NY Metro area.  At least the kids got 
snow day.

The EU has reached an agreement to help Greece out of it’s budget deficit problems.  EU and world leaders are concerned of the stability of the EuroZone-as this is by far the worst crisis in the Euro’s 11 year history.  The main question in the marketplace is how will the EU respond to speculation that Spain and Portugal are also having  major issues with their budget deficit.

Bobbys Corner-Open Market-Dec.17.2009

Goobob-slade-forex-trading-4-150x200d Morning:

The USD soared overnight after the FOMC announced no change in interest rates, and are considering scaling back on the stimulus programs.  The USD also benefited from the bad news from Greece.  The markets are getting concerned about the enormous national debt that many countries have.  Countries like the US  increased their debt to put various stimulus measures in place.  Not only is Greece a problem, but the markets will be looking at Spain and the UK for a possible downgrade.

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