Thursday, October 4, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Oct.4.2012

Posted: 04 Oct 2012 05:36 AM PDT

Good Morning:

As expected, the Bank of England left their benchmark interest rates unchanged at .5%.
Asset purchasing program remains unchanged at 375 bln GBP.

Also-the ECB left interest rates unchanged at .75%., which was widely expected.
Marginal lending rates, and deposit facility rates remained unchanged.

Greece and the Troika are still “discussing” , but the difference they are talking about is a mere 3.5 bln euros.
In the scope of the Greek debacle-this is just a pebble in a shoe.

Portugal announced higher taxes to help meet budget targets.  The economy contracted more than was expected this year-and the forecast is for the economy to contract even more than was originally planned for 2013.
No surprises there-it is always a great idea to raise taxes on an economy that is already sinking (and you can’t swim)-why don’t we just throw them an anchor next.

Spain sold some 2, 3 and 5 year bonds today-and guess who the buyer was.

Asian equity markets were higher-as are Europe and US Futures.

Gold, Silver and Oil are all higher this morning.

HAVE A GREAT DAY & GOOD L:UCK 

  

 
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