Bobbys Corner-Open Market-Dec.22.2010
Good Morning:
Today we are awaiting the final GDP data for Q3. The markets anticipate a higher than previously estimated number.
The USD was a touch softer as investors look for higher-yielding assets as the economic picture globally is looking a little brighter.
The euro was stronger after Germany announced that import prices rose 10% over a year ago.
Cable was lower after data in the UK showed that they British economy grew at a slower pace than originally estimated.
World equity markets were mixed-and US futures are flat at this time.
Oil rose to over $90/bar overnight.
Oil:$90.18 Gold:$1388.40
| TIME | FOR | EST. | PRIOR | |||
| 7:00A.M. | MBA MORTGAGE APPLICATIONS | 17-Dec | -2.30% | |||
| 8:30A.M. | GDP QoQ (ANNUALIZED0 | 3Q T | 2.80% | 2.50% | ||
| 8:30A.M. | PERSONAL CONSUMPTION | 3Q T | 2.80% | 2.80% | ||
| 8:30A.M. | GDP PRICE INDEX | 3Q T | 2.30% | 2.30% | ||
| 8:30A.M. | CORE PCE QoQ | 3Q T | 0.80% | 0.80% | ||
| 10:00A.M. | EXISTING HOME SALES | NOV. | 4.75M | 4.43M | ||
| 10:00A.M. | EXISTING HOME SALES | MoM | NOV. | 7.20% | -2.20% | |
| 10:00A.M. | HOUSE PRICE INDEX MoM | OCT. | -0.20% | -0.70% | ||
HAVE A GREAT DAY & GOOD LUCK
Live education rebroadcast Dec 21 2010 Webinar
Live education rebroadcast Dec 21 2010 FXDD Webinar – Watch now
Bobbys Corner-Open Market-Dec.21.2010
Good Morning:
Moody’s Investor Services stated today that they may be looking at a rating downgrade for Portugal, as they state that “sluggish” growth in Portugal will be the main culprit in any upcoming downgrade.
Comments from China that they have taken “concrete action” to ease the sovereign debt crisis, and that China backs the EU’s efforts to ensure financial stability helped the Euro maintain throughout the morning trading session.
Air travel is still causing disruptions throughout Europe. Frankfurt airport was closed this morning, and London’s Heathrow airport is running at 1/3 capacity. The trip home for the Christmas holiday in Europe is going to be a chore-as there is no predicted letup in the bad weather-and it will take days to clear out the already crowded airspace.
Asia and European equity markets were higher-and US Futures are also higher at this time.
Oil:$89.45 Gold:$1387.30
No major data due out today.
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Dec.20.2010
Good Morning:
As we start a new week, the euro is losing ground amid speculation that the ability for EU nations to raise fresh investment capital may be dwindling after many nations within the Euro Zone have been, or are being targeted for downgrades by the major rating companies. Last week alone Moody’s lowered Ireland credit rating by 5 levels, and placed Greece on review for a possible downgrade . S&P put Belgium on negative a watch list.
News that France’s AAA rating may be in jeopardy is also causing pressure on the single currency.
Asian equity markets were lower-European markets are higher (even as concerns regarding the EU’s debt issues plague the marketplace), as are US Futures at this time.
Oil:$88.65 Gold:$1384.40
No major US data due out today.
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Dec.17.2010
Good Morning:
We end the week with Moody’s Investor Services downgrading Ireland’s credit rating. Moody’s downgraded Irish credit by 5 levels, with further downgrades possible.
Portuguese bonds slipped after the Moody’s downgrade.
In a meeting in Brussels, EU leaders are about to agree to a system that would hopefully contain future debt issues from causing a crisis.
The Euro showed some strength after German IFO (business confidence) reached a record high. This is the highest level recorded since the reunification of the 2 Germany’s in 1991.
Asian equity markets were mixed, European equity markets fell after the downgrade of Ireland. US Futures are slightly higher at this time.
Oil:$87.60 Gold:$1375.40
| TIME | FOR | EST. | PRIOR | |||
| 10:00A.M. | LEADING INDICATORS | NOV. | 1.10% | 0.50% | ||
HAVE A GREAT DAY-WEEKEND & GOOD LUCK
Bobbys Corner-Open Market-Dec.16.2010
Good Morning:
EU leaders start a 2 day meeting today in Brussels to discuss the best course of action regarding containing the sovereign debt crisis that has plaged the EU and the Euro. Market participants are looking for a permanent crisis mechanism to protect the financial markets and to keep the debt crisis in the EU contained.
Portuguese, Greek, and Spanish bonds dropped, with the spread versus German bonds rising again.
With Spain being much larger than the other PIIGS countries, investors will be looking at Spain to see if the mechanisms within the EU to safeguard the financial system are actually able to protect against any future debt crisis within the region.
Asian and European equity markets were mixed, and US Futres are slightly higher at thi time.
Oil:$88.23 Gold:$1379.80
| TIME | FOR | EST. | PRIOR | REVISED | |||
| 8:30A.M. | HOUSING STARTS | NOV. | 550K | 519K | |||
| 8:30A.M. | HOUSING STARTS MoM | NOV. | 6.00% | -11.7% | |||
| 8:30A.M. | BUILDING PERMITS | NOV. | 560K | 550K | 552K | ||
| 8:30A.M. | BUILDING PERMITS MoM | NOV. | 1.50% | 0.50% | 0.90% | ||
| 8:30A.M. | CURRENT ACCT. BALANCE | 3Q | -$126.0B | -$123.3B | |||
| 8:30A.M. | INITIAL JOBLESS CLAIMS | 11-Dec | 425K | 421K | |||
| 8:30A.M. | CONTINUING CLAIMS | 4-Dec | 4110K | 4086K | |||
| 10:00A.M. | PHILADELPHIA FED | DEC. | 15.O | 22.5O | |||
HAVE A GREAT DAY & GOOD LUCK
FXDD Live Education Webinar rebroadcast December 14 2010
FXDD Live Education Webinar rebroadcast December 14 2010 >> Click here to watch
Bobbys Corner-Open Market-Dec.15.2010
Good Morning:
The Euro dropped below the 1.33 handle after Moody’s Investors Service stated that Spain may be looking at a downgrade of it’s debt rating. Spain’s “vulnerability to funding stress” was one of the reasons that Moody’s cited for the possible downgrade. Spain’s enormous size will cause problems for the EZ unless this problem is addressed and dealt with in a timely fashion.
EU leaders will start a 2 day meeting in Brussels tomorrow, and the focus will be to develop a permanent crisis fighting system that would resemble an emergency type of fund to be set up within the EU.
Cable was weaker on the heels of lower than expected employment data. The JPY was steady.
World equity markets were lower-and US Futures are also lower this morning.
CPI data is on the plate in the US-and the data is looking for an uptick again this month (the Fed will need to keep an eye on this data going forward-to be certain that costs are not getting out of line in this economic downturn).
Oil:$ 87.58 Gold:$1394.40
| TIME | FOR | EST. | PRIOR | |||
| 07:00AM | MBA MORTGAGE APPLICATIONS | 10-Dec | ——- | -O.9% | ||
| 08:30AM | CONSUMER PRICE INDEX (MoM) | NOV | O.2% | O.2% | ||
| 08:30AM | CPI EX FOOD & ENERGY (MoM) | NOV | 01O%. | O.O% | ||
| 08:30AM | CONSUMER PRICE INDEX (YoY) | NOV | 1.10% | 1.2O% | ||
| 08:30AM | CPI EX FOOD & ENERGY (YoY) | NOV | O.6% | O.6% | ||
| 08:30AM | CPI CORE INDEX SA | NOV | ——- | 221.77% | ||
| 08:30AM | CONSUMER PRICE INDEX NSA | NOV | 281.6OO% | 218.71% | ||
| 08:30AM | EMPIRE MANUFACTURING | DEC | 5.OO | -11.4O | ||
| 09:00AM | TOTAL NET TIC FLOWS | OCT | $51.OB | $81.7B | ||
| 09:00AM | NET LONG-TERM TIC FLOWS | OCT | ——- | 81.OB | ||
| 09:15AM | INDUSTRIAL PRODUCTION | NOV | O.3% | O.O% | ||
| 09:15AM | CAPACITY UTILIZATION | NOV | 75.O% | 74.8O% | ||
| 10:00AM | NAHB HOUSING MARKET INDEX | DEC | 16.O | 16.O | ||
HAVE A GREAT DAY & GOOD LUCK
Loading ...
