Wednesday, March 21, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-March.21.2012

Posted: 21 Mar 2012 05:28 AM PDT

Good Morning:

China was in the spotlight today-as reports show that China’s banking sector is set to report record earnings, but the dark cloud over all of this is that the percentage of bad loans is also rising.
The Chinese economy grew by  8.9% last quarter, which is the slowest pace in over 2 years. The European debt crisis slowed exports, and the slowdown in the real estate markets were all contributors to the slowdown in the overall Chinese economy.

The BOE’s minutes were released and it was an unanimous decision to leave interest rates steady-and 2 out of the 9 members voted for additional QE.

Asian indexes were mostly lower.  Europe is down across the board, and US Futures are marginally higher.

Oil is trading at $106.25/bbl.
Gold and Silver are all higher.

HAVE A GREAT DAY & GOOD LUCK
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