Wednesday, August 15, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.15.2012

Posted: 15 Aug 2012 05:12 AM PDT

Good Morning:

Today is Assumption Day-and the European markets are very thin.  It is bound to be a quiet session with most of mainland Europe out for the holiday.

Comments by Chinese Premier Wan-that the economic foundation of China’s economic recovery is still not stable, did little to settle markets.
These comments along with yesterday’s disappointing Euro Zone GDP data, are all helping drag world equity markets lower.

Standard Chartered Bank has agreed to a $340 min settlement with NY State regulators regarding the Illegal Iranian money transfers.
This is only the beginning for Standard Chartered-as now the US Treasury and the Fed have their own investigation going on with this case.

World equity markets and US Futures are all in negative territory.

Gold, Silver and Oil are all lower.

HAVE A GREAT DAY & GOOD LUCK 

 
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Tuesday, August 14, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.14.2012

Posted: 14 Aug 2012 05:11 AM PDT

Good Morning:

GDP Q2 results for Germany and France were released.  Both were slightly better than expected.
Germany Q2 GDP +.3%   expected +.2%
France was flat  expected -.1%
EuroZone  Q2 GDP-.2%   y/y -.4%

German ZEW forecast of investor sentiment (expectations 6 months forward) was down  25.5
much weaker than the expected -19.6.  The decline is due to weak growth with export partners.
Exports may become more difficult in the near future.

Let’s hope that today’s US data may spark some interest in this market:

US July PPI  exp: +.2%  from +.1%
US July Retail Sales  exp: +.3%

Gold, Silver and Oil are all higher.

World equity markets are positive-as are US Futures.

HAVE A GREAT DAY & GOOD LUCK
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Monday, August 13, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.13.2012

Posted: 13 Aug 2012 05:38 AM PDT

Good Morning:

We start the week off with the news that Mitt Romney has picked Paul Ryan to be his VP running mate.
Comments will be reserved for later-as I do not know enough about Mr. Ryan to voice my opinion yet.

Greek Q2 GDP a bit better than expected. Actual -6.2%  expected -7%  Last month-6.5%.

Japan Q2 GDP +.3% q/q.  +1.4% y/y.  The markets were looking for +2.5% y/y.

Bank of America cuts China’s GDP forecast:
2012 GDP cut to 7.7% from 8%.
Q3 forecast cut to 7.4% from 8%.

Gold and Oil are higher.  Silver lower.

Asian equity markets were lower-Europe is mixed-US Futures are lower.

HAVE A GREAT DAY & GOO DLUCK
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Friday, August 10, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.10.2012

Posted: 10 Aug 2012 05:23 AM PDT

Good Morning:

Another weak start to the last trading  day of the week.|

Weak Chinese trade data, and a RBA warning over Aussie strength-were the main events in the Asian session.
Japanese Parliment approves sales tax increase.  What a great idea for an economy that has not grown in 3 decades.

In Europe:
ECB President Draghi lays out a “toolkit” to save the Eurozone.
Ex- ECB member Issing stated that if “the euro is to survive, some of it’s current members would have to leave”.
Spanish bank BBVA reported that the Spanish unemployment rate will reach 26% by 2013.
Also-the Spanish economy will contract 1.4% in 2012-higher than the 1.3% from earlier predictions.

World equity markets are all lower-as are US Futures.
Oil, Gold and Silver are all lower too.

HAVE A GREAT DAY-WEEKEND & GOOD LUCK
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Friday, August 3, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Coner-Open Market-Aug.3.2012

Posted: 03 Aug 2012 05:15 AM PDT

Good Morning:

 We have US July job and non-farm payroll  data due out at 8:30 AM.

The latest guesstimate for NFP is a positive number, either side of 100K.
This is after June’s 80K increase.
The unemployment rate is expected to stay steady at 8.2%.

Today’s moves all stem from ECB President Draghi’s comments yesterday.
The markets were initially disappointed in the lack of immediate action-but it seems the markets are accepting the position that at least now, the ECB has a sense of urgency finally.  The ECB will inevitably intervene in both Spanish and Italian bond markets, with a special interest in the shorter end of the curve.

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

Oil, Gold and Silver are all higher.

HAVE A GREAT DAY & GOOD LUCK
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Thursday, August 2, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.2.2012

Posted: 02 Aug 2012 05:20 AM PDT

Good Morning:

This is Mario Draghi’s day in the limelight.  Let’s see how he does.
What will he do to save the euro-Everyone has the same question on their minds.
Draghi has many options-from cutting rates, full blown QE, bond buying-or maybe a combo of them? 

ECB leaves interest rates unchanged- Draghi to speak at 8:30 AM (EST)
Bank of England leaves rates unchanged, and QE left at 375 bln GBP.

S&P affirmed Germany’s AAA/A-1+ rating with a stable outlook.
PPI in Europe fell .5% for the 2nd month in a row-on lower energy costs.

In the US we have jobless claims at 8:30 AM, and US Factory orders.

Gold, Silver and Oil are all higher.

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

HAVE A GREAT DAY & GOOOD LUCK

 

 
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Wednesday, August 1, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.1.2012

Posted: 01 Aug 2012 05:31 AM PDT

Good Morning:

Welcome to August.  Thin markets and all.

The markets are awaiting the news from the Central Bankers of the world this week.
We have the FOMC decision today.
BOE and ECB on Thursday.
US jobs data on Friday.

ADP employment data this morning: +163K  expected 120K.
Remember that the ADP reports have not been on the mark the last few months-but it is an indication of the employment scenerio in the US.  

Maybe this positive jobs data will keep the FED at bay for another month before considering QE3.

Asian equity markets were mixed-European markets are mostly higher-as are US Futures.

Gold & Silver are lower.
Oil a touch higher.

HAVE A GREAT DAY & GOOD LUCK

 

 
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