Bobbys Corner-Open Market-March.16.2010

Written March 16, 2010 at 8:16 AM EST by  

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

Euro Zone finance ministers worked out a bailout program for Greece.  The program  is of emergency loans, should the austerity plan of lowering wages and raising taxes does not do enough to reign in the Greek budget deficit.
Also- a report that showed German investor confidence dropped less than expected also helped ther Euro in overnight trading. 

The FOMC will announce their rate decision at 2:15 PM (NY Time).  Interest rates are expected to be kept at record lows to sustain the economic recovery.

World equity markets rose, as the EU comes up with a plan for Greece, and that the US will keep interest rates steady.
US Futures are also pointing to a higher opening this morning.

Oil:$80.02                                         Gold:$1113.20

TIME FOR  EST PRIOR    REVISED
8:30A.M. MPORT PRICE INDEX MoM FEB. -0.20% 1.40%
8:30A.M. IMPORT PRICE INDEX YoY FEB. 11.30% 11.50%
8:30A.M. HOUSING STARTS FEB. 570K 591K
8:30A.M. HOUSING STARTS MoM FEB. -3.60% 2.80%
8:30A.M. BUILDING PERMITS  FEB. 610K 621K     622K
8:30A.M. BUILDING PERMITS MoM FEB. -1.90% -4.90% -4.70%
2:15P.M. FOMC RATE DECISION          

HAVE A GREAT DAY & GOOD LUCK

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