Bobbys Corner-Open Market-March.12.2010

Written March 12, 2010 at 8:25 AM EST by  

bob-slade-forex-trading-8-150x200Good Morning:

The USD lost ground overnight as speculation that the Fed will keep interest rates low reduced demand for USD dominated assets.  In other news, Janet Yellen will most probably be selected as vice chairman of the Fed.  Ms Yellen is currently President of the San Francisco Fed, and has been a staunch supporter of lower interest rates to combat the global recession.

EU leaders will meet next week to discuss the potential need to issue bonds or give outright loans to Greece, as the country works on an auterity program aimed at cutting it’s staggering deficit.

Equity markets rose around the globe and US futures are also higher this morning.  Banks and commodity companies helped keep equity indexes in positive territory.
Commodities in general rose across the board, with gold leading the charge.

Oil:$82.72                              Gold:$1117.50

TIME FOR  EST PRIOR
8:30A.M. ADVANCE RETAIL SALES  FEB. -0.20% 0.50%
8:30A.M. RETAIL SALES LESS AUTOS FEB. 0.00% 0.60%
8:30A.M. RETAIL SALES EX AUTOS & GAS FEB. 0.30% 0.60%
9:55A.M. U. OF MICHIGAN CONFIDENCE  MARCH 74.O 73.6O
10:00A.M. BUSINESS INVENTORIES JAN. 0.20% -0.20%

HAVE A GREAT DAY-WEEKEND & GOOD LUCK

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