Monday, July 2, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-July.2.2012

Posted: 02 Jul 2012 05:50 AM PDT

Good Morning:

Lots of secondary noise from the markets today-but there was some good activity in the marketplace-especially for a Monday in July.

Last week’s positive market reaction from the EU Summit was a lift that the markets needed-but like all political events-talk is cheap.
The details are not clear and implementation will be even harder.  

According to Greek government sources-Greece received the remaining 1 billion euros from the last bailout agreement.

French National Auditor: 2012-13 will be “difficult”:
Estimate growth at .4% for 2012-1% for 2013.
6-10 bln euros in new deficit cutting measures for 2012
33 bln euros of cuts will be needed for 2013.
Where will they find these cuts?  Less wine and truffles maybe?

Asian equity markets were mostly higher-Europe is higher-US Futures are virtually flat at this time.

Oil, Gold and Silver are all lower.

HAVE A GREAT DAY & GOOD LUCK

 
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