Tuesday, March 27, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-March.27.2012

Posted: 27 Mar 2012 05:38 AM PDT

Good Morning:

Lots of activity in the overnight session-but not a lot of price movement.
The USD took a slight hit after comments from Fed Chairman Bernanke that he plans on keeping the monetary policy “highly accommodative” for the foreseeable future.

In the Euro Zone-the Portuguese/German government bond yield spreads have narrowed to under 1000 bps-this is the first time since September that the spread has been below 1000.

Crude oil is again trading around the $107/bbl level.  Today the API (American Petroleum Institute), will announce their weekly inventory report, and it is expected to show inventory at 2.75 million barrels-which may damper the run up by the oil bulls.
With crude hitting record highs against the GBP and Euro-there is concern that this could cause a Europe wide recession.

Gold and Silver are higher at this time.  Oil is steady-just below $107/bbl

Asian equity markets were mixed-Europe is higher-US Futures are lower.

HAVE A GREAT DAY & GOOD LUCK
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