Friday, June 1, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-June.1.2012

Posted: 01 Jun 2012 05:23 AM PDT

Good morning:

Well- we start June on the same note that we left May-UGLY!

Here is the breakdown of the overnight session and major data:
 
The story starts in China-where manufacturing PMI for May missed the mark.  PMI was 50.4 versus 53.3 in April.  This was well below the consensus of 51.5
Euro Zone PMI fell to 45.1 from 45.9
Euro Zone unemployment rose to it’s highest level: 11%.
Italy’s unemployment rate rose to 10.2% (highest on record)
Spain’s rose to 24.3% from 23.1%

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

Gold and Silver are lower.
Oil is lower-trading in the mid $84/bbl levels.

HAVE A GREAT DAY & GOOD LUCK 

 The Euro hit a new 21 month low versus the USD at 1.2310.
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