Monday, September 24, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Sept.24.2012

Posted: 24 Sep 2012 05:29 AM PDT

Good Morning:

A very weak German IFO business climate index: 101.4 in September-much weaker than the 102.5 Reuters forecast, caused the Euro 
take a hit. 
The EUR/USD fell from the mid 1.29′s into the upper 1.28′s before settling back to 1.2910.  It is presently at 1.2916.

Greek government officials insist that 13.5 bln euros will close their budget gap-outside sources state that the amount will be closer
to 20 bln euros.

The markets are awaiting Spain to formally ask for a bailout from the ECB within days.  Spain is about to approve a tough new budget-while also in need of a 60 bln euro bailout for their banks.

Also in the headlines is a story that the ECB is awaiting a formal request for bailout package for Cyprus too..

“When it rains-it pours”

Oil, Gold and Silver are all lower.
Equity markets and US Futures were/are all in negative territory .

HAVE A GREAT DAY & GOOD LUCK

 

 
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