Friday, May 18, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-May.18.2012

Posted: 18 May 2012 05:50 AM PDT

Good Morning:

The equity markets started the overnight session down 3% throughout the region.
The continued ongoing Greek crisis along with the downgrade of Spanish banks all lead to the drop.

The Euro initially took a beating-EUR/USD traded as low as 1.2641, and then as the market’s soaked in the news-the pair rose to a high of 1.2728.  Quite a comeback by the single currency.

The Euro Zone had a really tough week:
-with no real news or changes in Greece-except talk about the election-which is not till June 17.
-new governments in France and Greece, after May’s election.
-Spanish bank downgrades.

Now all eyes will be on this weekend’s G-8 meeting at Camp David.

Asian equity markets were lower-Europe is mixed-while US Futures are higher.

Oil is lower-Gold is higher today.
Facebook IPO priced at $38/share-let’s see how the markets cooperate. 

HAVE A GREAT DAY- WEEKEND & GOOD LUCK
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