Bobbys Corner-Open Market-Jan.26.2010

Written January 26, 2010 at 8:10 AM EST by  

bob-slade-forex-trading-6-150x200Good Morning:

As China takes further steps to slow down the fast pace of their economy, the USD and JPY rose as demand for higher-yielding assets waned.  With China slowing the availability of loans to the marketplace, along with raising the proportion of deposits banks must set aside for reserves-investors are looking for the safe haven of the USD and JPY. 

World equity markets dropped as news of China curbing their lending practices, thus causing speculation that any global recovery and growth will be curtailed.
US Futures are slightly lower this morning.

Oil:$74.60                                               Oil:$1091.30  

Today’s Data:

TIME FOR  EST PRIOR
9:00A.M. S&P CASESHILLER HOME PRICE IND. NOV. 146.58O
9:00A.M. S&P /CS COMPOSITE-20 YoY NOV. -5.00% -7.28%
10:00A.M. CONSUMER CONFIDENCE JAN. 53.8O 52.9O
10:00A.M. HOUSE PRICE INDEX MoM NOV. 0.60%
10:00A.M. RICHMOND FED MANUFACT. INDEX -4.O

HAVE A GREAT DAY & GOOD LUCK

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