Bobbys Corner-Open Market-Jan.20.2010

Written January 20, 2010 at 8:26 AM EST by  

bob-slade-forex-trading-3-150x200Good Mornings:

The USD and JPY rose as speculation that China’s curbing of bank lending may slow the global recovery.
Trouble in Greece are still weighing very heavily on the Euro, and straining the Euro Zone’s economy in general.
Comments from the IMF stating that Greece’s budget woes are “a serious problem”, and comments that China will pare lending after record amounts of new loans were processed in 2009 drove the FX markets to the safety of the JPY and USD .

World equity markets were lower-and US Futures are also pointing to a lower opening this morning.

Speculation that central banks may be considering raising interest rates as they see signs of economic recovery are also spooking the  equity markets-and driving FX investors to safe haven currencies.

Oil:$77.87                                      Gold:$1130.20

Today’s data:

TIME FOR  EST PRIOR
7:00A.M. MBA MORTGAGE APPLICATIONS 15-Jan 14.30%
8:30A.M. PPI MoM DEC. 1.80%
8:30A.M. PPI EX FOOD & ENERGY MoM DEC. 0.50%
8:30A.M. PPI YoY DEC. 2.40%
8:30A.M. PPI EX FOOD & ENERGY YoY DEC. 1.20%

HAVE A GREAT DAY & GOOD LUCK

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