Wednesday, March 28, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-March.28.2012

Posted: 28 Mar 2012 06:05 AM PDT

Good Morning:

Overnight ranges stayed fairly tight, as the markets await this morning’s Durable Goods data.

US Durable Goods rose 2.2%, but that was lower than the 3% that was expected.  This weaker number, pushed the USD/JPY pair back below 83.00.   This is always a volatile number-and the markets were looking for more positive data after last months -3.4%.
As this is the only significant data on North America’s calender today-the markets will be looking for direction from the technical side, equities,  and end of the month flows.  We will also have some data on oil and gasoline inventories later this morning.

Asian equity markets were mostly lower, while Europe is lower-and US Futures are pointing to a lower or flat opening this morning.

Oil is trading below $106/bbl.
Gold and Silver are also lower at this time. 

HAVE A GREAT DAY & GOOD LUCK
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