Friday, August 10, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.10.2012

Posted: 10 Aug 2012 05:23 AM PDT

Good Morning:

Another weak start to the last trading  day of the week.|

Weak Chinese trade data, and a RBA warning over Aussie strength-were the main events in the Asian session.
Japanese Parliment approves sales tax increase.  What a great idea for an economy that has not grown in 3 decades.

In Europe:
ECB President Draghi lays out a “toolkit” to save the Eurozone.
Ex- ECB member Issing stated that if “the euro is to survive, some of it’s current members would have to leave”.
Spanish bank BBVA reported that the Spanish unemployment rate will reach 26% by 2013.
Also-the Spanish economy will contract 1.4% in 2012-higher than the 1.3% from earlier predictions.

World equity markets are all lower-as are US Futures.
Oil, Gold and Silver are all lower too.

HAVE A GREAT DAY-WEEKEND & GOOD LUCK
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