Bobbys Corner-Open Market-Sept.30.2010
Good Morning:
The continued sovereign debt plaguing Europe seems to be taking a back seat lately. The markets are more focused on the positive economic data coming out of Germany and France-thus the Euro rally that we have witnessed during the past few weeks.
The Irish government announced that the bailout of Anglo Irish Bank may cost upwards of 29-34 billion euros.
Also, Moody’s downgraded Spanish debt. Both of these events were highly expected by the markets-and did not cause much damage to the Euro overall.
World equity markets were lower-as are US Futures.
Oil rose, and gold climbed to another record.
Oil:$78.70 Gold:$1314.80
| TIME | FOR | EST. | PRIOR | |||
| 8:30A.M. | GDP QoQ (ANNUALIZED) | 2Q T | 1.60% | 1.60% | ||
| 8:30A.M. | PERSONAL CONSUMPTION | 2Q T | 2.00% | 2.00% | ||
| 8:30A.M. | GDP RICE INDEX | 2Q T | 1.90% | 1.90% | ||
| 8:30A.M. | CORE PCE QoQ | 2Q T | 1.10% | 1.10% | ||
| 8:30A.M. | INITIAL JOBLESS CLAIMS | 25-Sep | 460K | 465K | ||
| 8:30A.M. | CONTINUING CLAIMS | 18-Sep | 4468K | 4489K | ||
| 9:45A.M. | CHICAGO PURCHASING MGR. | SEPT. | 55.9O | 56.7O | ||
| 10:00A.M. | NAPM -MILWAUKEE | SEPT. | 58.O | 59.O | ||
HAVE A GREAT DAY & GOOD LUCK
Forex Morning Report- Sept 29
Forex Morning Report- Sept 29
Bobbys Corner-Open Market-Sept.29.2010
Good Morning:
A fairly quiet overnight session:
The EUR/USD pair traded within the 1.36 handle-as the Euro rally stayed on track. Even though the sovereign debt issues within the Euro Zone continue to plague the region, the markets seem to be shrugging off these concerns for now. Tomorrow the markets will be informed of the full cost for the Irish government to bailout Anglo Irish bank. This could weigh heavily on the Euro Zone in general and add pressure to the Euro in the coming days.
Also Moody’s is looking to see if they will downgrade Spain, as the regions 4th largest economy struggles to grow.
The JPY remained under 84, as the Tanken Report data released overnight showed that the manufacturing sector was stronger than expected. The survey regarding future expectations showed that the business sector is extremely cautious in regards to 2011 growth.
The USD continues to lose ground as speculation mounts that the Fed will increase their purchase of government debt to kick start the lackluster economy.
Asian equity markets were mixed, and European markets slightly higher as we speak. US Futures are also pointing to a small positive opening.
Oil rose, and Gold set a new record.
Oil:$76.29 Gold:$1310.60
NO MAJOR DATA out of North America today
HAVE A GREAT DAY & GOOD LUCK
Rebroadcast of webinar from Tuesday Sept 28 2010
Rebroadcast of webinar from Tuesday Sept 28 2010 – Click here to watch
Forex Midday Report- Sept 28
Forex Midday Report- Sept 28
Forex Morning Report- Sept 28
Forex Morning Report- Sept 28
Forex Evening Report- Sept 27
Forex Evening Report- Sept 27
Forex Midday Report- Sept 27
Forex Midday Report- Sept 27
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