Monday, March 26, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

BobbY Corner-Open Market.March.26.2012

Posted: 26 Mar 2012 06:07 AM PDT

Good Morning:

A fairly lackluster overnight session.
The main event was a better than expected German IFO business climate index.  The data printed at 109.8, slightly better than the 109.6 that was expected.  The increase is mainly due to retail sales that were better than expected.  Risk of inflation, and higher energy costs pose potential risks, but not currently.  The gain shows that a “mini-recession” in Germany can be avoided.
Italy also posted better than expected consumer confidence: 96.8 vs. 94.4.
The positive data helped the euro enjoy a  small rally.

In US political news:
President Obama is in Seoul for a 2 day nuclear summit with world leaders.  The summit will bring world leaders together to discuss how to secure and deal with the world’s nuclear facilities.
Within a few hours of opening the summit, North Korea moved a long range missile to the launch site for a test fire today.
Oh Well-it shows how well diplomacy can sometimes work-or not.

The Republicans continue to hammer at each other.  With Mitt Romney in the lead, Rick   Santorum continues to attack Romney on all fronts.  Newt Gingrich is also attacking Mr. Romney-but his rhetoric is not nearly as effective.

Oil, Gold and Silver are all higher.
World equity markets and futures are all higher.

HAVE A GREAT DAY & GOOD LUCK
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