Bobbys Corner-Open Market-March.12.2010
Good 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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