Forex Market Updates & Commentary

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Bobbys Corner-Open Market-March.29.2012 Posted: 29 Mar 2012 05:42 AM PDT Good Morning: Good news on the German labor front-with unemployment down by 18K, and the unemployment rate fell to 6.7% from 6.8%. The German economy is the envy of Europe.  Even with the EU having major debt issues-The German economy remains robust, and the country’s businesses are hiring.  The German economy has added jobs in the last 14 out of 15 months.  Hopefully the higher employment levels will spur consumer spending, and keep the German economy on the right path. Even with this positive data from Germany-the EUR/USD pair dropped below 1.33. US GDP report was just released, and printed at 3%-which is what the markets expected.  This is the 3rd reading of the Q4 data, and it continues to remain steady. Consumer spending was unrevised, and stayed steady at +2.1% Jobless claims dropped by 5K. Gold and Silver are higher. Oil  (WTI) has dropped to under $105/bbl. Asian equity markets all closed lower-and European equity markets are all lower, along with US Futures at this time. HAVE A GREAT DAY & GOOD LUCK

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