Forex Market Updates & Commentary

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Bobbys Corner-Open Market-April.12.2012 Posted: 12 Apr 2012 05:33 AM PDT Good Morning: The greenback was mixed versus most of their counterparts. Italy saw their cost of borrowing increase to the highest levels since January 2012 at today’s bond auction.  The auctions are well received,  but yields in Spain and Italy along with most of the EU are moving higher.  Concerns over debt contagion from Spain is putting pressure on the bond markets throughout the EU. Greek January unemployment rose to 21.8% from 21.2% in December. Some good news out of the FOMC: It seems that both Dudley and Yellen have stated that their is still support of keeping interest rates low through 2014-and longer if necessary.  Also they stated that the door for additional QE is open. Oil is back over $103/bbl. Asian equity markets were higher-along with Europe and US Futures. Gold is slightly lower-while silver is higher. HAVE A GREAT DAY & GOOD LUCK

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