Tuesday, October 2, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Oct.2.2012

Posted: 02 Oct 2012 05:40 AM PDT

Good Morning:

A fairly inactive morning greets us:

China is still on holiday-and India is closed today-So What, you say?- That over 1/3 of the world’s population on holiday today

Reserve Bank of Australia cut rates 25bps to 3.25%.
Concerns that the boom in natural resources that they have enjoyed for years, may be coming to an end-the RBA took the opportunity to 
lower interest rates.

Spanish and Italian bond yields are lower today-as the rumor mill has Spain formally asking for a bailout this week.
Spanish unemployment jumped 1.7% in Sept-rising the rate to over 25%.

Asian markets -and European markets -mostly higher-as are US futures.

Gold and Silver are lower-Oil is higher.

HAVE A GREAT DAY & GOOD LUCK
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