Friday, June 8, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-June.8.2012

Posted: 08 Jun 2012 05:27 AM PDT

Good Morning:

Risk off Friday!

Well-the optimistic mind set that the markets were showing has been eroded in a short 36 hours.

While market participants, (and I include all instruments), were anticipating  the prospect of global stimulus and additional monetary easing policy have been disappointed.
The ECB, BOE, and in particular the Fed all refrained from acting or even making reassuring statements to the markets.
So- as Central Bankers love to do-they will wait and see what happens.
Unfortunately-we can all write what the outcome will be-as they continue to do nothing-and the results will most probably not be pretty.

China’s surprise mid week rate cut was initially met with optimism-but if you read between the lines-they must be concerned about the
changing face of the Chinese economy.

Asian equity markets were lower-European equity markets are also lower-as are US Futures.

Oil, Gold and Silver are all lower.

HAVE A GREAT DAY-WEEKEND & GOOD LUCK

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