Friday, August 31, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.30.2012

Posted: 30 Aug 2012 05:09 AM PDT

Good Morning:

We await the opening of the Jackson Hole economic conference which is set to open Friday with Fed Chairman Bernanke speaking.

We are also sitting and waiting for the ECB meeting next week-and the markets are eagerly awaiting word from ECB President Draghi on the direction that the ECB will take.

German  August jobless total rises 9K,  in line with expectations.
Unemployment rate stays steady at 6.8%.

Spanish flash CPI +2.7% y/y- last +2.2% in July.

Asian markets were lower-followed by Europe-and joined by US Futures.

Gold, Silver and Oil are all lower too.

HAVE A GREAT DAY & GOOD LUCK
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Thursday, August 30, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobby’s Corner-Open Market-Aug.29.2012

Posted: 29 Aug 2012 05:55 AM PDT

Good Morning:

I have returned from my summer holiday-it was a very nice break.

I see that there has been no real change except that the Euro has rallied a bit-and EU government bond yields have eased.

The Jackson Hole conference is set to begin on Friday-beginning with Bernanke’s speech.

The Bank of Spain released figures that show that deposits in Spanish banks fell by 4.7% in July.  This was the highest in 15 years.
For every 20 euros deposited in early July-one euro was withdrawn by month end.  Is a formal request for aid far away???

Just out-US Q2 GDP 1.7%-as expected.
The first reading was 1.5%.

Asian and European equity markets are lower-US Futures are flat at this time.

Gold, Silver and Oil are all lower.

HAVE A GREAT DAY & GOOD LUCK

 

 
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Friday, August 24, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Forex Quick Look at the EURUSD

Posted: 23 Aug 2012 08:43 AM PDT
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Friday, August 17, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.17.2012

Posted: 17 Aug 2012 05:28 AM PDT

Good Morning:

A very quiet end to a lackluster week.

Rumors that Spain will request a bailout at a meeting of financial ministers and central bankers next week are circulating around the markets.
It will be no surprise if they do-and this will pave the way for the ECB to buy Spain’s debt.
Talk of the Spanish government adding 19 bln euros into troubled real estate lender Bankia. 
Spanish banks bad loans rise to 9.42% from 8.95% the month before- Not good news.
Spanish yields are off-which is a good sign.

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

Gold, Silver and Oil are all slightly lower.

HAVE A GREAT DAY-WEEKEND & GOOD LUCK

Note: I will be away on holiday with the family-see you in a week.
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Thursday, August 16, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.16.2012

Posted: 16 Aug 2012 05:07 AM PDT

Good Morning:

A very quiet overnight session.

Standard Chartered Bank will probably face a total of $1 billion in fines before it settles all US charges regarding to the illegal Iranian wire transfers that the bank engaged in.

The LIBOR probe has now come across the pond to NY.
NY Attorney- General Eric Schneiderman has issued subpoenas to Deutsche Bank, Citigroup, JP Morgan Chase, RBS, Barclays, HSBC and UBS.

 Global gold demand has fallen 7%-as markets see Indian demand fall-and the new outlook is that China will take over as the largest gold
consumer.

Gold and Silver are lower-Oil is marginally higher at this time.

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

HAVE A GREAT DAY & GOOD LUCK 

 
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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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