Bobbys Corner-Open Market-Jan.24.2011
Good Morning:
USD strengthened as profit takers took center stage in the first session of the week. Improved earnings reports also aided the USD. This weeks data which includes durable goods, consumer confidence, and US growth will hopefully show that the US economic recovery is finally showing signs of recovery. Speculation is that the positive data that is expected will be dollar positive for the markets.
Asian equity markets were mixed, European markets are lower-and US Futres are slightly higher at this time.
Oil dropped as Saudi Arabia’s Oil Minister made comments that OPEC may increase supplies to keep up with the continuing demand by China and India.
Oil:$88.73 Gold:$1348.10
No major data due out today.
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Jan.21.2011
Good Morning:
We awaken to another snowy day in New York.
In a choppy overnight session the Euro picked up some steam on the heels of better than expected German business confidence. The IFO data was also the highest level reported since Germany was reunified in 1991. Better than expected earnings from General Electric and Google also helped lift the single currency, as did the continued optimism that the EU will find a long term solution to the sovereign debt issues that have plagued the region.
Fitch Ratings did make comments that there is continued risk in the Euro region that some sountries may have their ratings downgraded further.
Asian equity markets were mostly lower-but Europe is higher and US Futures are up over 40 points at this time.
Oil:$89.40 Gold:$13423.50
No major data due out today.
HAVE A GREAT DAY-WEEEKEND & GOOD LUCK
Rebroadcast of FXDD Live Education Jan 20th 2011
Rebroadcast of FXDD Live Education from Jan 20th 2011 >>Watch now
Bobbys Corner-Open Market-Jan.20.2011
Good Morning:
A busy overnight session-as equity and commodity markets fell as concerns that China’s continued growth may cause global interest rates to move higher. Though investors are not looking at this as a
instant threat-the concerns are there.
Commodity currencies turned lower, on the heels of an overall decline in commodity prices
World equity markets are lower, which helped keep the USD and CHF firm-as investors head to the sidelines and await this morning’s US data.
US Futures are following the trend-and are pointing to a lower opening this morning.
| TIME | FOR | EST. | PRIOR | |||
| 8:30A.M. | INITIAL JOBLESS CLAIMS | 15-Jan | 422K | 445K | ||
| 8:30A.M. | CONTINUING CLAIMS | 8-Jan | 3985K | 3879K | ||
| 10:00A.M. | EXISTING HOME SALES | DEC. | 4.87M | 4.68M | ||
| 10:00A.M. | EXISTING HOME SALES MoM | DEC. | 3.80% | 5.60% | ||
| 10:00A.M. | LEADING INDICATORS | DEC. | 0.60% | 1.10% | ||
| 10:00A.M. | PHILADELPHIA FED. | JAN. | 2O.4 | 24.3O | ||
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Jan.19.2011
Good Morning:
Risk appetite is again the flavor of the day.
EUR/USD topped the 1.35 handle-before profit takers took advantage of the price and drove the pair back down into the mid 1.34 levels. The pair is back over 1.35 at this time.
Good results by both IBM and Apple helped lead the risk rally. Selling by Asian central banks limited the rally.
This morning we have data on the US Housing market-speculation is that we will see disappointing data again in this sector-which also added to the USD downturn overnight.
Commodities rallied-which is a good sign that the global recovery is gaining more and more traction.
Asian equity markets are higher-and European equity markets are lower-as are US Futures at this time.
Oil:$92.09 Gold:$1373.20
| TIME | FOR | EST. | PRIOR | REV. | |||
| 7:00A.M. | MBA MORTGAGE APPLICATIONS | 14-Jan | 2.20% | ||||
| 8:30A.M. | HOUSING STARTS | DEC. | 550K | 555K | |||
| 8:30A.M. | BUILDING PERMITS | DEC. | 555K | 530K | 544K | ||
| 8:30A.M. | HOUSING STARTS MoM | DEC. | -0.90% | 3.90% | |||
| 8:30A.M. | BUILDING PERMITS MoM | DEC. | 2.00% | -4.00% | -1.40% | ||
HAVE A GREAT DAY & GOOD LUCK
FXDD rebroadcast of live training Jan 18th 2011
FXDD rebroadcast of live training Jan 18th 2011 >>Watch now
If you would like a copy of the powerpoint slides, send an email to greg@fxdd.com
Bobbys Corner-Open Market-Jan.18.2011
Good Morning:
Risk took center stage in overnight trading after comments from Russian Deputy Prime Minister Zhukov that Russia may be interested in investing in Spanish debt. Both Russia and China do not want to see the Euro lose it’s position as a potential reserve currency-so today’s comments show a clear sign that the troubled EU economies will most probably receive economic support from outside the region.
The EUR/USD pair jumped over 1.3425-with better than expected ZEW reading from the EU and strong Spanish T-Bill auction. GBP/USD takes out the 1.6050 level on good CPI data.
Asian equity markets were nmixed and European equity markets are higher. US Futures are also higher at this time.
Oil:$91.25 Gold:$1375.40
| TIME | FOR | EST. | PRIOR | |||
| 8:30A.M. | EMPIRE MANUFACTURING | JAN. | 12.OO | 1O.57 | ||
| 9:00A.M. | TOTAL NET TIC FLOWS | NOV. | $7.5B | |||
| 9:00A.M. | NET LONG TERM TIC FLOWS | NOV. | $27.6B | |||
| 10:00A.M. | NAHB HOUSING MARKET INDEX | JAN. | 17.O | 16.O | ||
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Jan.17.2011
Good Morning:
The Euro lost some steam overnight-as investors have concerns that the meeting of European Finance Ministers set for today in Brussels to discuss a debit crisis strategy will not go far enough to stem the ongoing sovereign debt crisis in the EU. The stronger richer countries will need to lend more to the weaker countries within the EU-to keep the single currency viable.
Chinese President Hu will meet with President Obama this week to discuss the ongoing US-Chinese relationships.
President Hu will be meeting ith top political and business leaders throughout his 3 day visit to the US.
US equity markets are closed for the Martin Luther King Day holiday.
Asian markets were higher-while European equity markets are mixed.
HAVE A GREAT DAY & GOOD LUCK
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