Wednesday, July 18, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-July.18.2012

Posted: 18 Jul 2012 05:38 AM PDT

Good Morning:

We have another day of Dr. Bernanke speaking to Congress- so we will see what that brings.

BOE minutes showed that MPC voted 7-2 to raise QE by 50 bln GBP.  Also they voted 9-0 to keep interest rates steady.

Bank of Spain reports that Spanish bad  bank loans rise to 8.95% from 8.72% in April.

The LIBOR scandal continues-with the spotlight on the Bank of England.

US June housing starts rise to 760K from 745K

  • Highest since Oct 2008
  • May reading was 708K (revised to 711K)
  • Building permits 755K vs 765K exp
  • Prior permits reading was 784K

    Oil is slightly softer.
    Gold and silver are lower.
    Asian equity markets were mostly lower-Europe \higher-US Futures lower.

    HAVE A GREAT DAY & GOOD LUCK
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