Bobbys Corner-Open Market-Sept.2.2010

Written September 2, 2010 at 8:39 AM EST by  

bob-slade-forex-trading-7-150x200Good Morning:

A fairly stable overnight session brought no new surprises to the market.  The GBP lost some steam as UK housing showed a larger than expected drop in prices.  EZ data showed that GDP in the region printed at 1%-as expected.
The  ECB left key interest rates unchanged, which was expected.  The ECB may keep themselves in “crisis mode” till next year-as the economy is still too fragile to take away any of the stimulus measures that are in place.

All eyes will be on Friday morning’s  US jobs data.  Data due out at 8:30 AM Sept. 3.

Asian equity markets were higher-Europe is mixed, and US Futures are marginally higher at this time.

Oil:$73.49                                        Gold:$1249.50

TIME FOR EST. PRIOR
7:45A.M. ECB RATE DECISION
8:30A.M. ECB PRESS CONFERENCE
8:30A.M. NONFARM PRODUCTIVITY 2QF -1.90% -0.90%
8:30A.M. UNIT LABOR COSTS 2QF 1.20% 0.20%
8:30A.M. INITIAL JOBLESS CLAIMS 28-Aug 475K 473K
8:30A.M. CONTINUING CLAIMS 21-Aug 4440K     4456K
10:00A.M. FACTORY ORDERS JULY 0.30% -1.20%
10:00A.M. PENDING HOME SALES MoM JULY -1.00% -2.60%
10:00A.M. PENDING HOME SLAES YoY     JULY -20.10%
10:30A.M. ICSC CHAIN STORE SALES YoY AUG. 2.80%

HAVE A GREAT DAY & GOOD LUCK

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