Monday, April 2, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-April.2.2012

Posted: 02 Apr 2012 05:17 AM PDT

Good Morning:

Markets seem to starting out Q2 on a low note-as the USD and equity markets are drifting lower.

The USD is a little weaker this morning, and the markets are fairly slow at this time.
Bank of Japan’s Tankan survey reflects worries about higher oil prices, and increased electricity costs as some of their biggest economic obstacles that are, and will be facing the country.

PMI data from the UK was very positive-printed at 52.1 versus 51.5.  the GPP/USD jumped over the 1.60 level on this news.

PMI news out of China is a bit different:
The official data was at 53.1-but the unofficial data from HSBC shows 48.3.  Traders are looking at the discrepancy and will trade accordingly.

Asian equity markets were mixed-Europe opened higher-but is now lower.  US Futures are also lower at this time.

OIl, Gold and Silver are all lower at this time.

HAVE A GREAT DAY & GOOD LUCK
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