Tuesday, October 9, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Oct.9.2012

Posted: 09 Oct 2012 05:30 AM PDT

Good Morning:

The IMF cut it global GDP forecast-yet again.
For 2012-they cut their estimate by .2%.  From 3.5% to 3.3%.
For 2013-they cut their estimate by .3%.  From 3.9% to 3.6%.

European Finance ministers are meeting in Luxembourg today-and there is no word about Spain-and any potential bailout.
The markets were expecting some comments regarding a Spanish bailout-this was dissapointing for investors.

Negotiations are continuing in Greece, regarding the 13.5 bln euros of additional budget cuts that the country must meet for any further funds to be distributed.
Angela Merkel is in Greece today-as a sign of support for the Greek PM.  There are also a reported 7000 police officers  in Athens to
quell any violent protests that take place.

Asian equity markets were mostly higher.  Europe is mixed-and US Futures are higher.

Oil, Gold and Silver are all higher.

HAVE A GREAT DAY & GOOD LUCK
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