Friday, September 7, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Sept.7.2012

Posted: 07 Sep 2012 05:25 AM PDT

Good Morning:

The Draghi rally continues.  It looks like the markets are giving the ECB bond purchase program the thumbs up.
Euro Zone periphery bond yields are falling.
Spanish 10 year yielding at 5.72%-on Monday the same bond was close to 7%.

World equity markets rallied across the board- Asian markets along with European indexes are all higher.
US Futures are also higher.

Oil is now over $96/bbl.  Gold and Silver are a touch lower.

All eyes are on this morning’s US jobs data due out at 8:30 AM.

My guesstimate for NFP is +125K-we will see soon enough.

HAVE A GREAT DAY -WEEKEND & GOOD LUCK
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Thursday, September 6, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Sept.6.2012

Posted: 06 Sep 2012 05:19 AM PDT

Good Morning:

The ECB left their benchmark interest rate unchanged at .75%
The BOE also left interest rates unchanged at .5%. 
Both of these events were largely expected.

The Euro has rallied this morning-ahead of ECB President Draghi’s 8:30 AM press conference.
EUR/USD rose to 1.2650-why stop there!!
It is quite unbelieveable that the Euro would rally on the back of a no-change interest rate decision from the ECB. 
The markets have been so focused on a bond-buying program-that an interest rate cut was not even in the picture.

The ECB drama will begin as Mr. Draghi takes center stage at 8:30 AM.

ADP payrolls show an increase of 201k  jobs in the private sector for August-I think that is much to optimistic of a number-as 140k was expected.  

Oil, Gold and Silver are all higher.

Asian, European and US Futures are all in positive territory.

HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-Sept.5.2012

Posted: 05 Sep 2012 05:18 AM PDT

Good Morning:

Global equity markets were lower today-after yesterday’s 50+ point decline in the Dow.
Economic news continues to disappoint the markets, and we are awaiting the ECB meeting on Thursday and US jobs data on Friday.

Disappointing data seems to be around wherever you look.  Weak US data on Tuesday, Australian Q2 GDP rising less than expected.
Australian markets are expecting a 25 bps cut in their benchmark interest rate next month-as they are doing everything possible to keep the positive economic momentum in the Australian economy going.

A cloud of uncertainty surrounds tommorrow’s ECB rate decision, and Mr. Draghi’s press conference.

The biggest concern is that the markets have bought into the “rumors”, and are thinking that they are way ahead of the ECB, and have already discounted the ECB’s bond purchasing program, and interest rate decisions.
We all know that European policymakers have “disappointed” investors before-and I have no doubt they will do it again.

Gold, Silver and Oil are all lower.

HAVE A GREAT DAY & GOOD LUCK
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Wednesday, September 5, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Sept.4.2012

Posted: 04 Sep 2012 05:34 AM PDT

Good Morning:

Well- the summer is officially over-as Labor Day has come and gone.

Before we culminate the week with the US employment, and NFP data on Friday-the markets will hear from 3 central bankers.

The Bank of Canada on Wed, Bank of England on Thursday-where no changes are expected.

Thursday will be the main event-as we finally hear word from ECB President Draghi on his plan to save the Euro Zone.

It seems that the Chinese economy is slowing at a much faster pace than the government thought-and it looks like the powers to be are behind the curve.
Chinese PMI fell to 49.2 from 50.1
Chinese Mfg fell to 47.6 from 49.3
Taiwan’s PMI fell to 46.1 from 47.5

Oil, Gold and Silver are all higher.

Asian equity markets were lower, as is Europe.  US Futures slightly higher.

HAVE A GREAT DAY & GOOD LUCK
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Saturday, September 1, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Bobbys Corner-Open Market-Aug.31.2012

Posted: 31 Aug 2012 05:20 AM PDT

Good Morning:

Markets are awaiting the opening of the Jackson Hole symposium, with Fed Chairman Bernanke starting the party at 10AM this morning.

Markets seem to be upbeat-at least the most upbeat in a long time.

Euro Zone July unemployment at 11.3%.
Euro Zone August inflation est” +2.6%y/y/ vs. 2.4% in July.
    
Spanish PM Rajoy said that regional bailouts in Spain would continue (3 states have already come looking for money).
At this point Spain is not considering a bailout until the details are speeled out first-and would not accept a bailout if the terms were too
harsh.

Today we have not only the speech by Bernanke, but also Chicago PMI, Consumer Confidence, and factory orders for July.

Gold, Silver and Oil are higher.

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

HAVE A GREAT DAY-Weekend & Good Luck

 
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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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