Wednesday, June 27, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-June.27.2012

Posted: 27 Jun 2012 05:31 AM PDT

Good Morning:

The markets are on a holding pattern ahead of the EU summit planned for Thursday & Friday of this week.

Part of the conversation that will take place at the summit will include extending Greece’s timeline for getting their budget in order.
I am sure that if the EU agrees to an extension-then it is inevitable that the EU will demand more austerity measures from Greece. 
News from Greece that they are expecting the economy to contract by over 9% in Q3 are adding to their woes.

Spain’s Finance Minister is looking to have all goods and services taxed at the current 18% VAT.
This would certainly hamper consumer spending and growth prospects.
Spain is also realizing that they must start  financing themselves in the international markets-and not just rely on their domestic funding.

Asian equity markets were higher-as are Europe’s and US Futures. 

WTI oil is up-but still under $80/bbl.
Gold and Silver are lower.

HAVE A GREAT DAY & GOOD LUCK
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)