Forex Market Updates & Commentary

---

Bobbys Corner-Open Market-Sept.6.2012 Posted: 06 Sep 2012 05:19 AM PDT Good Morning: The ECB left their benchmark interest rate unchanged at .75% The BOE also left interest rates unchanged at .5%.  Both of these events were largely expected. The Euro has rallied this morning-ahead of ECB President Draghi’s 8:30 AM press conference. EUR/USD rose to 1.2650-why stop there!! It is quite unbelieveable that the Euro would rally on the back of a no-change interest rate decision from the ECB.  The markets have been so focused on a bond-buying program-that an interest rate cut was not even in the picture. The ECB drama will begin as Mr. Draghi takes center stage at 8:30 AM. ADP payrolls show an increase of 201k  jobs in the private sector for August-I think that is much to optimistic of a number-as 140k was expected.   Oil, Gold and Silver are all higher. Asian, European and US Futures are all in positive territory. HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-Sept.5.2012 Posted: 05 Sep 2012 05:18 AM PDT Good Morning: Global equity markets were lower today-after yesterday’s 50+ point decline in the Dow. Economic news continues to disappoint the markets, and we are awaiting the ECB meeting on Thursday and US jobs data on Friday. Disappointing data seems to be around wherever you look.  Weak US data on Tuesday, Australian Q2 GDP rising less than expected. Australian markets are expecting a 25 bps cut in their benchmark interest rate next month-as they are doing everything possible to keep the positive economic momentum in the Australian economy going. A cloud of uncertainty surrounds tommorrow’s ECB rate decision, and Mr. Draghi’s press conference. The biggest concern is that the markets have bought into the “rumors”, and are thinking that they are way ahead of the ECB, and have already discounted the ECB’s bond purchasing program, and interest rate decisions. We all know that European policymakers have “disappointed” investors before-and I have no doubt they will do it again. Gold, Silver and Oil are all lower. HAVE A GREAT DAY & GOOD LUCK

You are subscribed to email updates from Forex News and Commentary by FXDD To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610