Friday, July 6, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-July.6.2012

Posted: 06 Jul 2012 05:18 AM PDT

Good Morning:

Markets are not doing a lot-sitting around and waiting for this morning’s US jobs data.

The markets are looking for around 100K new jobs created-and for the unemployment rate to stay steady at 8.2%/
The markets will look at the recent averages to get a better picture of job growth during the past 12 months.
This will be interesting data to look at after the 8:30 initial numbers get published.

The biggest moves today are in the bond markets.
We have seen record lows for 2 year French debt, and the 2 year German Schatz has gone negative
again (currently at -.002%).

Spanish 10 year bonds had their worst day yesterday-taking yields just below 7%.
Spanish/German spreads widened to 555 bps-we saw these spreads in mid June too.
Italian bonds are also having a rough time today-as their yields are just below Spain’s-as contagion continues to plauge 
the EU markets.

Asian equity markets were lower-as are European equities, and US Futures.

Oil is lower-as are the Gold and Silver markets.

HAVE A GREAT DAY-WEEKEND & GOOD LUCK
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