Bobbys Corner-Open Market-Sept.10.2009

Written September 10, 2009 at 8:25 AM EST by  

bob-slade-forex-trading-4-150x200Good Morning:

As expected, the  Bank of England left interest rates unchanged.  The BOE also announced that they will continue to purchase up to $290 Bil in assets to shore up the weak economy.

The USD and JPY rose overnight as equity markets were lower in Europe.  Asian markets were mixed.  US Futures are pointing to a lower opening this morning.

China’s Premiere made comments overnight that China “will not and cannot” pull back on current economic stimulus programs, as the Chinese economy is ”unstable, unbalanced and not yet solid”.  

On another note, OPEC ministers agreed to keep production at present levels, hoping to maitain current prices in the $72/bar range. Metals are also lower this morning.

Oil:$71.60                                             Gold:$989.30

Today’s data:
Trade Balance:             exp; -27.1 Bil        prior: -27 Bil
Jobless Claims:            exp; 560K              prior: 570K

HAVE A GREAT DAY & GOOD LUCK

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