Forex Market Updates & Commentary

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Bobbys Corner-Open Market-Oct.5.2012 Posted: 05 Oct 2012 05:24 AM PDT Good Morning: Markets are quiet ahead of this morning’s US jobs report. Guesstimates are for the unemployment rate to push up to 8.2%-while the economy added 125K. Let’s hope that the NFP number is higher-as job growth has been lackluster at best. I am certain that we will see some revisions during the release-most probably higher NFP numbers-we will see. The Euro had a bit of a rally-as the EUR/USD is in the 1.30 handle ahead of the data. The Greek fiasco keeps going round and round.  No new decisions or concessions will happen until after the October 18 Euro Zone Summit (another one).  Greece claims that they only have enough money to last to November-What a mess!! The Spanish Finance Minister commented that he sees no reason for Spain to apply for a formal bailout.  I think we heard the same thing from the Irish, Portuguese, and Greek Finance Ministers not that long ago. Asian equity markets along with European indexes and US Futures are all higher. Oil is a touch softer-as are Gold and Silver. HAVE A GREAT DAY-WEEKEND & GOOD LUCK

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