Bobbys Corner-Open Market-Jan.11.2011
Good Morning:
Sovereign debt issues continue to be the main catalyst of the marketplace. Japan made comments that they also will be looking to purchase EU debt. This did little to push the markets after it was noted that Japan will be using their current Euro reserves, and will not be looking to purchase additional FX for these debt purchases.
Japan, like China has become the 2nd major Asian nation to show their support for the EU debt markets.
Portugal’s Finance Minister says he sees no need for a bailout for his country-we will have to wait and see how that plays out.
The Aussie will come under as traders fear that the floods that have plagued the country will shave off .3% of Australian GDP this year.
Asian quity markets were mixed, and European markets are higher. US Futures are also higher at this time.
Oil:$89.75 Gold:$1383.20
| 7:30A.M. | NFIB SMALL BUSINESS OPTIMISM | DEC. | 94.5O | 93.2O | ||
| 10:00A.M. | IBD/TIPP ECONOMIC OPTIMISM | JAN. | 47.O | 45.8O | ||
| 10:00A.M. | WHOLESALE INVENTORIES | NOV. | 1.00% | 1.90% | ||
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Jan.10.2011
Good Morning:
The USD strengthened for the first day of the trading week. This week we have data on US Retail Sales-and the markets are expected an increase. Retail Sales have increased for the past 6 months, which is a positive sign for the US economy.
European governments are expected to borrow $43 billion this week-as the cost of insuring sovereign debt against default rose to record levels.
Portugal, Spain and Italy are scheduled to hold bond auctions this week-on the heels of increased borrowing costs at last weeks bill sales.
The continued sovereign debt problems in the EU continue to dominate markets activity.
Asian equity markets were mixed, European markets are lower-and US Futures are also lower at this point.
Oil:$89.30 Gold:$1372.40
NO MAJOR DATA DUE OUT TODAY
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Jan.7.2011
Good Morning:
In what is normally a quiet session prior to US employment data (due out at 8:30 AM today)-the Euro lost ground to the USD as data from the EZ (Retail Sales,Trade Balance and GDP) missed expectations.
US employment data is expected to show an increase in jobs-which is adding to the markets optimism that the US economy is gaining traction and looks to gets stronger in 2011. Hopefully this optimism will also be shared by the business community-thus resulting in new hiring.
World equity markets are mixed-and US Futures are in positive territory.
Oil:$88.95 Gold:$1358.70
| 8:30A.M. | CHANGE IN PRIVAT PAYROLLS | DEC. | 150K | 50K | |||
| 8:30A.M. | CHANGE IN NONFARM PAYROLLS | DEC. | 140K | 39K | |||
| 8:30A.M. | CHANGE IN MANUFACT.PAYROLLS | DEC. | OK | -13K | |||
| 8:30A.M. | UNEMPLOYMENT RATE | DEC. | 9.70% | 9.80% | |||
| 8:30A.M. | AVG. HORLY EARNINGS MoM ALL EMP. | DEC. | 0.20% | 0.00% | |||
| 8:30A.M. | AVG. HOURLY EARNINGS YoY ALL EMP. | DEC. | 1.80% | 1.60% | |||
| 8:30A.M. | AVG. WEEKLY HOURS ALL EMPLOYEES | DEC. | 34.3O | 34.3O | |||
| 3:00P.M. | CONSUMER CREDIT | NOV. | $0.5B | $3.4B | |||
HAVE A GREAT DAY-WEEKEND & GOOD LUCK
Rebroadcast of FXDD Live Training Jan 6th 2011
Rebroadcast of FXDD Live Training Jan 6th 2011- Click to watch
Bobbys Corner-Open Market-Jan.6.2011
Good Morning:
The USD continued to trade stronger in the overnight sessions. Concerns that the slow recovery in some EU countries will keep the debt crisis on the front burner for some time to come. China stated that it will buy 6 billion euro of Spanish debt. Investors will be looking to see if China’s purchases can calm speculators-or will Spain be the next recipient of an EU bailout?
World equity markets traded higher-and US Futures are also pointing to a higher opening this morning.
| TIME | FOR | EST. | PRIOR | ||
| 8:30A.M. | INITIAL JOBLESS CLAIMS | 1-Jan | 405K | 388K | |
| 8:30A.M. | CONTINUING CLAIMS | 25-Dec | 4080K | 4128K | |
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Jan.5.2011
Good Morning:
This morning’s ADP Payroll data showed an increase of 297k jobs in December 2010. The estimate was for an increase of 100k. This was great news for the US economy and the greenback. The USD continued to rally on this data. The USD was strong against the Euro in the overnight session, as the single currency came under pressure as the sovereign debt problems within the region continue to make headlines.
In another note from Europe the SNB reported that they will no longer accept Irish government bonds as collateral for repurchase agreement deals in the future.
Also- Portugal sold 500 mil of 6 month bills in line with yields that were anticipated by analysts.
Asian equity markets were mixed, and European markets are lower. US Futres are lower at this time.
Oil:$88.76 Gold:$1374.40
| 7:00A.M. | MBA MORTGAGE APPLICATIONS | |||||
| 7:30A.M. | CHALLENGER JOB CUTS YoY | |||||
| 8:15A.M. | ADP EMPLOYMENT CHANGE | DEC. | 100K | 93K | ||
| 10:00A.M. | ISM NON MANUF. COMOPOSITE | DEC. | 55.7O | 55.O | ||
HAVE A GREAT DAY & GOOD LUCK
Rebroadcast of Live training from Jan 4th 2011
Rebroadcast of FXDD Live training from Jan 4th 2011 >>Watch here
Bobbys Corner-Open Market-Jan.4.2011
Good Morning:
The first full trading day of 2011 got underway with risk on the plate as the main course. With all of the major centers back after the New Years holiday-the equity markets were poised for a rally after yesterday’s 90+ point increase in the Dow to start off 2011.
In the FX world the EUR/USD pair jumped over the 1.34 handle, and cable roared over 150 points after UK data showed that the PMI Manufacturing Index rose to a 16 year high.
The USD picked up against the JPY, as a report today may show that factory orders dropped less than originally expected, along with better than expected auto sales data. These are hopefully signs that the US economy is seeing signs of recovery.
World equity markets traded higher-as are US Futures. Gold fell, refined sugar dropped over 3% as rains in India may damage crops in India (the 2nd biggest producer of sugar worldwide).
Oil:$91.90 Gold:$1408.70
HAVE A GREAT DAY & GOOD LUCK
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