Forex Market Updates & Commentary

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Bobbys Corner-Open Market-Oct.3.2012 Posted: 03 Oct 2012 05:11 AM PDT Go0d Morning: Little movement in the markets today: China  is still on holiday-as is Korea. Germany has National Day (Reunification Day)-but you can still clear Euro payments. Service sector PMI data is the winner in today’s economic news race: China dropped to 53.7 from 56.3-the lowest in 20 months. Spain dropped to 40.2 from 44-even worse than the worst expectations. UK dropped to 52.2 from 53.7 France dropped to 45 from 46.1-flash reading. Germany dropped to 49.7 from50.6 Euro Zone dropped to 46.1 from 46 flash- down significantly from August’s 47.2 reading. We are awaiting the ADP payroll data-but who really cares-as ADP has been a very weak predictor of non farm payrolls-but it will keep us all entertained for a while this morning. Asian equity markets were higher-expect Tokyo. European markets are mixed-with US Futures slightly higher. Oil is lower-Gold and Silver firmer this morning. HAVE A GREAT DAY & GOOD LUCK

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