Bobbys Corner-Open Market-Dec.1.2009
Good Morning:
The USD and JPY dropped, world wide equity markets rallied, and Gold set another record overnight as news spread that Dubai is in “constructive”talks to restructure part of their debt with their creditors.
In the FX markets the RBA (Australia) raised interest rates for a third straight month. The rate rose 25 bps to 3.75%. The JPY also fell as Japan makes overtures that they will add liquidity to the market with short term-low interest rate loans to commercial banks. This is an interesting development, as some other G20 countries are considering ending their stimulus measures.
Gold hit another record high overnight, as did other commodity markets.
Oil:$78.63 Gold;$1193.10
Today’s data:
ISM Mfg: exp: 54.8 prior: 55.7
Pend Home Sales: exp: -1.0% prior: 6.1%
Const Spend: exp: -.5% prior: .8%
Vehicle Sales: exp: 10.5M prior: 10.45 M
HAVE A GREAT DAY & GOOD LUCK
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