Bobbys Corner-Open Market-Jan.27.2010
Good Morning:
With speculation that the world wide economic recovery is slowing, the JPY has been one of the main benefactor as their currency rises, and investors look at the JPY as a refuge. With the EZ having some problems with certain member countries sovereign debt, the Euro will stay under pressure.
GBP rose on speculation that the UK government may pause their bond purchase program.
World equity markets fell, and US futures are slightly higher. Equity markets, like all markets, are concerned that the global recovery is losing traction and may falter.
The FOMC has been meeting, and we will be expecting a statement at 2:15 PM this afternoon.
The FOMC is expected to keep interest rates stable-and all eyes will be on any change in their wording of the economy.
Oil:$75.06 Gold:$1096.30
Today’ Data:
| TIME | FOR | EST | PRIOR | |||
| 10:00A.M. | NEW HOME SALES | DEC. | 370K | 355K | ||
| 10:00A.M. | NEW HOME SALES MoM | DEC. | 4.20% | -11.30% | ||
| 2:15P.M. | FOMC RATE DECISION | |||||
HAVE A GREAT DAY & GOOD LUCK




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