Thursday, June 14, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-June.14.2012

Posted: 14 Jun 2012 05:21 AM PDT

Good Morning;

Markets are getting nervous as we get closer to the Greek elections this weekend.  Rumors have the pro-bailout parties as favorites.

In other European news:

Moody’s cut Spain’s rating 3 notches to Baa3 (one notch above junk)-as increased debt, a weak economy, soring unemployment and
a loss of access to capital markets lead to the downgrade.
10 year Spanish bonds yields hit the magic 7% level.
Greek Q1 unemployment hit 22.6%-up from 20.7% in Q4.

The Swiss National Bank said that due to the European debt crisis-they told Credit Suisse to markedly increase it’s capital base.
The SNB also recommend that UBS do the same.
The SNB will also continue to enforce their 1.20 peg to the euro.

Asian equity markets were mostly lower-as is Europe.  Us Futures are flat.

Oil is flat-ahead of today’s OPEC meeting in Vienna
Gold is up-Silver down

HAVE A GREAT DAY & GOOD LUCK
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