Bobbys Corner-Open Market-Jan.25.2010

Written January 25, 2010 at 8:22 AM EST by  

bob-slade-forex-2-150x200Goodtures,stocks, Morning:

The JPY dropped as speculation rises that the Japanese Government may increase the purchase of government debt.  They are looking to limit the growth of the JPY and safeguard the economic recovery.
The USD also fell as speculation that Fed Chairman Bernanke will be re appointed to his post for a second term, which will increase demand for higher-yielding assets.
The USD also fell as investors speculate that this morning’s data on existing home sales will show a drop last month.

World equity markets were lower overnight-but US Futures are higher this morning as investors realize last weeks decline may of been overdone. 
Stocks took a beating last week when investors were concerned that Bernanke may not  be re appointed, and President Obama proposed to limit bank  investment activities.

Oil:$74.33                                       oil:$1097.60

  TODAY’S RELEASES
TIME FOR  EST PRIOR
10:00A.M. EXISTING HOME SALES DEC. 6.06M 6.54M
10:00A.M. EXISTING HOME SALES MoM DEC. -7.30% 7.40%
10:30A.M. DALLAS FED MANUF. ACTIVITY JAN. 3.80%

  HAVE A GREAT DAY & GOOD LUCK

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