Friday, September 21, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Sept.21.2012

Posted: 21 Sep 2012 05:09 AM PDT

Good Morning:

Rumors  about a Spanish bailout hit the markets today.
FT ran a story that EU officials are meeting with Spanish government officials to work on the conditions for a bailout plan.

There may be an announcement as early as next week.  Talks are focused on reforming the economy, versus sticking a beaten down economy with additional taxes, benefit cuts, or overall general austerity measures.
Also- next Friday the Spanish government is expected to announce the results on the health of their banking system, and give the EU an idea of how much additional capital will be required for the banks.  What a mess!

So… as we know the markets love any sign of good news-and the Spanish bailout is percieved as “good” news.

Asian equity markets were all in positive territory-European indexes are also in positive territory-and US Futures are higher too.

Oil, Gold and Silver are all higher on the day.

HAVE A GREAT DAY-WEEKEND & GOOD LUCK
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