Wednesday, June 13, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-June.13.2012

Posted: 13 Jun 2012 05:26 AM PDT

Good Morning:

A bit of a non event morning -so far……………

Greek banks have seen an unprecedented outflow of euros:
Larger Greek banks have seen combined daily outflows between 500 and 800 mln euros
Smaller Greek banks have seen daily outflows of 10-30 mln euros

Cyprus central bank governor looks for best possible borrowing conditions, but declines comment on if and when Cyprus will apply for aid.

French Industry Minister: France is in an "economic emergency situation:
French economy is hardly growing
900 plants have closed in the last 3 years
Possible government support for auto industry
Need to boost growth

I left Spain and Italy out of the equation today-as France and Cyprus add a new dimension to the crisis.

Asian equity markets were mostly higher, and Europe is mostly lower.US Futures are also lower at this time.

Oil is lower-as is Gold and silver

HAVE A GREAT DAY & GOOD LUCK

 
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