Thursday, June 28, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-June.28.2012

Posted: 28 Jun 2012 06:29 AM PDT

Good Morning:

Most market participants are not expecting any worthwhile deal being produced from this week’s EU summit.
French President Hollande is looking for a long term solution to the EU’s problem, and also looking for a short term solution to the crisis.
He will probably get neither-but remember this is his first “party” with the rest of the EU leaders.

News that the losses from JP Morgan’s trading may rise to $9 billion are hurting JPM’s stock price-down 3% in European trading.  This is also putting pressure on Jamie Dimon’s credibility in the marketplace.

US Q1 GDP at 1.9%-as expected.
US Jobless claims fall by 6k to 386k.

Asian equity markets were mixed -Europe and US Futures are lower.
Gold,Silver and Oil are all lower.

HAVE A GREAT DAY & GOOD LUCK
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