Bobbys Corner-Open Market-Dec.11.2009

Written December 11, 2009 at 8:11 AM EST by  

bob-slade-forex-2-150x200Gobood Morning:

Demand for higher yielding assets caused the JPY to decline.  Speculation that the global economy is showing signs of recovery is the main catalyst for investors seeking higher yielding assets.  
In general it was a quiet overnight session with the EUR/USD trading within familiar ranges.

World equity markets rose along with commodity prices.  Copper rose, leading the gains on the London Metal Exchange.  Gold also increased as did crude oil.

Today’s main focus will be Retail Sales data due out at 8:30 Am.

Oil:$ 70.97                                   Gold:$1140.20

Today’s data:
Retail Sales:            exp: .6%                          prior: 1.4%
Import Prices:       exp; 1.2%                       prior: .7%
U of Mich:                exp: 68.8                       prior: 67.4
Bus Inv:                    exp: -.2%                       prior: -.4%

HAVE A GREAT DAY-GREAT WEEKEND & GOOD LUCK

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