Friday, May 25, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-May.25.2012

Posted: 25 May 2012 05:39 AM PDT

Good Morning:

A none event overnight session greats us this morning.

Some (non-encouraging) comments from Belgian Foreign Minister Reynders kept the markets awake:
1) Greece can’t handle further spending cuts
2) Greeks need to pay their taxes
3) Would be "grave professional error" if central banks and companies not preparing for Greece euro exit

More bad news from Greece:
Tourism fell 15.1% in Q1-2012 according to data from the central bank.
Authorities ask Greek’s to keep their money in the banks-as they are concerned of a run on the banks.
Potential Greek bank run could be contagious throughout the region.

Asian equity markets were mixed-Europe is lower and US Futures are also lower.
Gold, Silver and Oil are all slightly lower. 

Remember that both NY and UK centers are closed on Monday-and markets may be illiquid.

HAVE A GREAT DAY- WEEKEND & GOOD LUCK
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