Friday, March 30, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-March.30.2012

Posted: 30 Mar 2012 05:51 AM PDT

Good Morning:

As this is the last day of the month/last day of Q1-and this is also the last trading day for the Japanese fiscal year.

New drama from the Greek front:  Greek PM does not rule out a possible new bailout package-if the austerity measures in place do not help to stabilize the economy.  I do not think that this is news to anyone.
In other news: Spanish February retail sales were down 6.4% y/y-this was expected.
French PPI at +.8-which is higher than the .5% that was expected.

Nouriel Roubini-the economist known as De. Doom predicted that the euro will need to go to parity with the USD in order for Euope’s economy to grow.  remember that is his opinion.

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

Oil, Gold and silver are all higher.

HAVE A GODD DAY & WEEKEND & GOOD LUCK

  

 
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Thursday, March 29, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-March.29.2012

Posted: 29 Mar 2012 05:42 AM PDT

Good Morning:

Good news on the German labor front-with unemployment down by 18K, and the unemployment rate fell to 6.7% from 6.8%.
The German economy is the envy of Europe.  Even with the EU having major debt issues-The German economy remains robust, and the country’s businesses are hiring.  The German economy has added jobs in the last 14 out of 15 months.  Hopefully the higher employment levels will spur consumer spending, and keep the German economy on the right path.
Even with this positive data from Germany-the EUR/USD pair dropped below 1.33.

US GDP report was just released, and printed at 3%-which is what the markets expected.  This is the 3rd reading of the Q4 data, and it continues to remain steady.
Consumer spending was unrevised, and stayed steady at +2.1%
Jobless claims dropped by 5K.

Gold and Silver are higher.
Oil  (WTI) has dropped to under $105/bbl.

Asian equity markets all closed lower-and European equity markets are all lower, along with US Futures at this time.

HAVE A GREAT DAY & GOOD LUCK

FXDD Forex Traders Course Thursday at 4:00PM with Greg Michalowski

Posted: 28 Mar 2012 01:56 PM PDT

FXDD Forex Traders Course this Thursday at 4:00PM with Greg Michalowski and Shawn Powell. Register now and attend for free

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Wednesday, March 28, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-March.28.2012

Posted: 28 Mar 2012 06:05 AM PDT

Good Morning:

Overnight ranges stayed fairly tight, as the markets await this morning’s Durable Goods data.

US Durable Goods rose 2.2%, but that was lower than the 3% that was expected.  This weaker number, pushed the USD/JPY pair back below 83.00.   This is always a volatile number-and the markets were looking for more positive data after last months -3.4%.
As this is the only significant data on North America’s calender today-the markets will be looking for direction from the technical side, equities,  and end of the month flows.  We will also have some data on oil and gasoline inventories later this morning.

Asian equity markets were mostly lower, while Europe is lower-and US Futures are pointing to a lower or flat opening this morning.

Oil is trading below $106/bbl.
Gold and Silver are also lower at this time. 

HAVE A GREAT DAY & GOOD LUCK
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Tuesday, March 27, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-March.27.2012

Posted: 27 Mar 2012 05:38 AM PDT

Good Morning:

Lots of activity in the overnight session-but not a lot of price movement.
The USD took a slight hit after comments from Fed Chairman Bernanke that he plans on keeping the monetary policy “highly accommodative” for the foreseeable future.

In the Euro Zone-the Portuguese/German government bond yield spreads have narrowed to under 1000 bps-this is the first time since September that the spread has been below 1000.

Crude oil is again trading around the $107/bbl level.  Today the API (American Petroleum Institute), will announce their weekly inventory report, and it is expected to show inventory at 2.75 million barrels-which may damper the run up by the oil bulls.
With crude hitting record highs against the GBP and Euro-there is concern that this could cause a Europe wide recession.

Gold and Silver are higher at this time.  Oil is steady-just below $107/bbl

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

HAVE A GREAT DAY & GOOD LUCK
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Monday, March 26, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

BobbY Corner-Open Market.March.26.2012

Posted: 26 Mar 2012 06:07 AM PDT

Good Morning:

A fairly lackluster overnight session.
The main event was a better than expected German IFO business climate index.  The data printed at 109.8, slightly better than the 109.6 that was expected.  The increase is mainly due to retail sales that were better than expected.  Risk of inflation, and higher energy costs pose potential risks, but not currently.  The gain shows that a “mini-recession” in Germany can be avoided.
Italy also posted better than expected consumer confidence: 96.8 vs. 94.4.
The positive data helped the euro enjoy a  small rally.

In US political news:
President Obama is in Seoul for a 2 day nuclear summit with world leaders.  The summit will bring world leaders together to discuss how to secure and deal with the world’s nuclear facilities.
Within a few hours of opening the summit, North Korea moved a long range missile to the launch site for a test fire today.
Oh Well-it shows how well diplomacy can sometimes work-or not.

The Republicans continue to hammer at each other.  With Mitt Romney in the lead, Rick   Santorum continues to attack Romney on all fronts.  Newt Gingrich is also attacking Mr. Romney-but his rhetoric is not nearly as effective.

Oil, Gold and Silver are all higher.
World equity markets and futures are all higher.

HAVE A GREAT DAY & GOOD LUCK
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Friday, March 23, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-March.23.2012

Posted: 23 Mar 2012 05:22 AM PDT

Good Morning:

A very typical Friday with EUR/USD picking up some steam ahead of the NY opening.
Rumors swirled through the markets that China is considering a rate cut-but remember this is Friday-and the rumor mill gets busier as the week goes on.

In corporate news-US Airways is considering a merger with American Airlines.  With American now under chapter 11 protection, the proposal would include a takeover scenario, to be implemented upon American’s departure from chapter 11.

Asian equity markets were lower, as are the European indexes along with US Futures.

Oil, Gold and Silver are all higher.

HAVE A GREAT DAY-WEEKEND & GOOD LUCK
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Thursday, March 22, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-March.22.2012

Posted: 22 Mar 2012 05:21 AM PDT

Good Morning:

A messy overnight session-that saw the “risk” switch shut off very quickly after China posted lower than expected PMI (purchasing manager index) data.  The data printed below the key 50 level at 48.1.  This data surely shows that China’s manufacturing sector is slowing, and this comes just days after BHP Billiton commented that iron ore demand is dwindling.
The PMI data in Europe was not much better-as both the manufacturing and service sectors in the EU saw a drop.
UK Retail Sales also disappointed-.8% vs. an expected -.5%.

Asian equity markets were all higher-after a 45 point decline in yesterday’s Dow.
The negative data had all European markets lower-along with oil, gold, and silver.

Today we have data on jobless claims, house price index and Fed Chairman Bernanke will be speaking again today.
Nothing that should rattle the markets-but you just never know.

HAVE A GREAT DAY & GOOD LUCK

Forex Techniques with Shawn Powell and Jason Galano March 21 2012

Posted: 21 Mar 2012 01:55 PM PDT

Forex Techniques webinar today at 4:00pm with Shawn Powell and Jason Galano. Join us for a fun class on trading forex presented by FXDD. Watch now

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