Monday, June 18, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-June.18.2012

Posted: 18 Jun 2012 05:33 AM PDT

Good Morning:

The election in Greece has propelled the New Democracy party as the clear winner.
It will take Greece weeks to form a government-and I do hope that it is a coalition that will stay together. 
As the New Democracy party is pro-bailout-pro euro-pro austerity-the markets took a breather.  The Euro was higher-as were equity markets.

The euphoria was short lived-as the Euro lost ground-as did most  equity markets.
Asian equity markets were higher-Europe equities started in positive territory-but are now losing ground-and are mixed.   
US Futures are now lower also.   Gold, oil and silver are all lower.

The overall problems do not go away:
Greece’s economy is in a tailspin
10 year Spanish bond yields hit a all time euro era high of 7.16%-while the spread to bunds is 574 bps.
Itialian bonds are also showing higher yields.
Portugal’s Economic Minister comments that the Portuguese economy has a liquidity problem.
Ireland is discussing extending their repayment scedule to 30 years from 15 years. 

These issues and many more will just not go away anytime soon.

HAVE A GREAT DAY & GOOD LUCK
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)