Bobbys Corner-Open Market-Nov.4.2009
Good Morning:
The USD and JPY dropped overnight on speculation that the FED will not raise interest rates this afternoon, and that the FED will reiterate past statements that rates will stay on hold for an “extended period”. The markets will be looking for any changes in the FOMC’s statement regarding the economy and interest rates.
Worldwide equity markets and commodities rose overnight. Gold reached a record high of $1095/oz. US Futures are pointing to a positive opening this morning.
On the US political front the Democrats lost 2 key Governor races. Both New Jersey and Virginia favored the Republican candidates, over the Democrats-who were both supported and campaigned for by President Obama. Republicans will now be the occupants of their statehouses.
Oil:$80.19 Gold:$1089.12Today’s data:
FOMC Rate Decision at 2:15 PM this afternoon.
Have a GREAT DAY & GOOD LUCK




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