Wednesday, April 11, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open market-April.11.2012

Posted: 11 Apr 2012 05:33 AM PDT

Good Morning:

A better day for the Euro Zone in general.
Spanish/German 10 year bond yield spread narrows to 405 bps from 424 bps. 
Italian/German 10 year yields narrowed to 372 bps from 395 bps.

Italy auctioned off 11 billion euros of 91 and 361 day paper.  Full take up-but yields are almost double what they were in the last auction.
Germany only sold 3.87 billion euros of 10 year bonds-out of a proposed 5 billion. 
Markets didn’t like that, and the auction had poor cover even though the yields increased.
The single currency initially sold off, but has since strengthened again.

Oil is trading in the mid $101/bbl
Gold and Silver are lower-as are most commodities.

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

HAVE A GREAT DAY & GOOD LUCK
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