Tuesday, March 20, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-March.20.2012

Posted: 20 Mar 2012 05:22 AM PDT

Good Morning:

BHP Billiton (the world’s largest mining company), commented today that they may be scaling back some of their projects, as they see China’s demand for iron ore decrease due to a slow down in the overall Chinese economy.  The comments rattled the markets on fears that the Chinese economy is slowing down at a faster pace than was originally believed.
Also rumors of a coup in Beijing did not help the already nervous markets.
On the heels of these comments and rumors-the markets slammed AUD/USD.

In US political news-Republicans will go to Illinois today for another primary-and Mitt Romney will be looking to add to his delegate numbers. 

World indexes were all lower- only the Nikkei posted positive numbers.  US Futures are also lower.

Oil is slightly lower-with WTI trading above $107/bbl.

HAVE A GREAT DAY & GOOD LUCK
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