Tuesday, April 10, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-April.10.2012

Posted: 10 Apr 2012 05:11 AM PDT

Good Morning:

Worries over rising Spanish borrowing costs pushed the euro lower.  Spanish 10 year bonds hit a yield of 5.9% from 5.8% earlier.
Spanish/German 10 year government bond spreads rose 424 bps from 402 bps earlier. Bank of Spain’s Ordonez stated that he expects more bank mergers in 2012, banks may need additional capital, Spanish exports are growing, and Spanish banks have  made 112 bln euros in provisions from 2007-2011.  These are just a few reasons why many economists believe that the country will be the next country in the euro zone to need a bailout.
Italian/German spreads on 10 year government bond yields widened out to 391 bps from 371 bps earlier.

Gold and silver are higher.

Oil is lower@ $102.15 bbl.

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

HAVE A GREAT DAY & GOOD LUCK
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