Bobbys Corner-Open Market-March.17.2010

Written March 17, 2010 at 8:18 AM EST by  

bob-slade-forex-2-150x200Good Morning:

The USD and JPY fell in overnight trading.  Both the BOJ and FED made comments to keep interest rates at near zero to keep their economies from falling back into recession.  Investors moved their money to the equity markets and higher-yielding currencies.
The GBP is recovering, as data released this morning shows that U.K. residents receiving unemployment benefits dropped.  The GBP has lost steam since 2010 started as concerns that the U.K. will not get a majority in parliamentary elections this spring.   This majority will be needed to address their budget deficit, and to propose additional measures to shore up their economy.

World equity markets are higher, and US Futures are pointing to a higher opening this morning.

Commodities are also higher this morning.

Oil:$80.79                                 Gold:$1129.40

  7:00a.m. MBA Mortgage Applications 12-Mar 0.50%
8:30a.m. PPI MoM FEB. -0.20% 1.40%
8:30a.m. PPI EX FOOD & ENERGY MoM FEB. 0.10% 0.30%
8:30a.m. PPI YoY FEB. 4.90% 4.60%
8:30a.m. PPI EX FOOD & ENERGY
& ENERGY YoY FEB. 1.00% 1.00%

HAVE A GREAT DAY &  GOOD LUCK

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