Friday, September 28, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Sept.28.2012

Posted: 28 Sep 2012 05:28 AM PDT

Good Morning:

We have a quiet end to the week-month and 3rd quarter.

Next week China is off for the week, Hong Kong is off on Monday and Tuesday, and Korea is off on Monday & Thursday.

Investors are a bit relaxed after yesterday’s Spanish budget announcement.  The idea of actually cutting spending versus austerity and tax increases is welcome news to the markets.
Some of the forcasts from the government are “very hopeful”-so we will have to see how this entire scenario pans out in the short term.

Spain will sell bonds next week-they should be issuing bonds as fast as they can-while the markets till feel that the ECB could buy up the debt.  

Spanish bank stress test results are due out later today also.

France is expected to announce their tough austerity budget later today.

Gold and Oil are lower-Silver is higher.

Asian equity markets were mostly higher-except that Tokyo was lower.
European equity markets are lower-and US Futures are down about 70 pts at this time.

HAVE A GREAT DAY-WEEKEND & GOOD LUCK
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