Bobbys Corner-Open Market- 3.31.2009

Written March 31, 2009 at 8:23 AM EST by  

bob-slade-forex-trading-7Good Morning:

The JPY dropped vs. the USD as the markets await a plan for a stimulus plan to revive the Japanese economy.  Overnight- JPY crosses helped lift the Euro,AUD, and GBP.  Speculation that the reason for the drop in the JPY vs. the Euro is that the ECB may refrain from further interest rate cuts.

European stocks are higher this morning as commodities producers rose and Marks & Spencer in the UK posted higher than expected sales.  US Futures are pointing to a higher opening this morning.  Asian shares lost ground.

Oil:$49.67                                         Gold:$916.50

Todays Data:
CaseShiller Home Price:                                prior: 150.66
Chi PMI-                                  exp: 34.0          prior: 34.2
Cons Conf:                              exp: 27.0          prior: 25.0

HAVE A GREAT DAY & GOOD LUCK

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