Tuesday, June 19, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-June.19.2012

Posted: 19 Jun 2012 05:21 AM PDT

Good Morning:

It looks like we may see a coalition government getting set up in  Greece in the next few days.

BUT-There  are many more important things for the markets to keep an eye on:
We have the FOMC meeting stating today.
First audit results for Spanish banks
Bank of England’s first (liquidity adding) cash tender today- (results about 10 AM EST)
G20 meeting continues- There is some talk about disappointment with the G20 that might hurt European sentiment, but I can't believe that any reasonable person expected the G20 to come to the rescue.

In other European news:
German ZEW survey was very disappointing -16.9 in June from +10.8 in May.  Much worse than expected.
2nd Spanish bank audit delayed until September from July
Italian and Spanish 10 year yields are a touch softer today- but Spain is still over 7%.

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

Gold, Silver and Oil are all higher. 

HAVE A GREAT DAY & GOOD LUCK
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